All Forum Posts by: Horton M.

@Joseph Schommer  Let's connect. I am in a similar situation.  

@Josh Madruga I invest in OKC from NYC.  Happy to jump on a call and chat.  

@Steve Buckman thanks for the detailed response.  I agree with you on all counts.  It's really just about understanding the business and legal risks under each scenario. Keep up the great posts! 

@Steve Buckman Agreed that one should use an LLC to the extent possible. Using an LLC, it seems there are two issues: (i) loan originator will not loan to an LLC, limiting financing options (particularly ones with good rates) and (ii) if one is willing to originate in their own name then transfer to an LLC (accepting the due on sale clause risk), the insurance is now in their person name with the property in their LLC, raising insurance issues. I am curious what you would say to a client who wants limit their risk, but also grow their business.

Thanks and I enjoy reading your posts!

@Ralph Justiz, great points.  @Account ClosedI would also look at your inspection report, assuming you got one at closing.   You may have a claim against the inspection company.  

@Zeke Liston, @Austin Steed, @Remington Lyman, how does the eviction process work in OH (i.e., landlord or tenant friendly)?  What do you see at as the political risks?  I saw that Cleveland just passed a bill giving tenant's the right to an attorney during eviction proceedings.  

@Cassi Justiz I see. Interesting. Congrats on this one! Sounds like a great buy. Looking forward to seeing what moves you make in 2020.

@Cassi Justiz I am curious as to the type of paper work that you used for the owner financing and private money.  Did you use an attorney?   Was this one in Edmond? 

@Raymond Brown Let's find time to chat too!  

@Thomas Hartman happy to chat.   I live in NYC too and I invest long distance.  Let me know if you’re free Sunday or Monday.