All Forum Posts by: Jay Helms

 I've used American Title as well. Have you talked to Bill Farrington @ http://www.wilsonharrell-law.com/Attorneys/William-E-Farrington-Ii.shtml ? I've used him for a quite a bit of different RE legal needs, none which were wholesaling. 

Seeking finance partners for B&H and flips in Pensacola, FL 

I bring:

• 5 yr knowledge of Pensacola market
• Ability to produce deal proposals (buy and hold or fix and flip) on terms we agree
• Manage all the on ground work (purchase, rehab, property management for holds, sale for flips)
• Personal FICO credit score of 800+
• Certified PMP (Project Management Professional) 
• Masters Business Administration
• Only personal debt is mortgages for 3 homes 
• Honesty & Integrity 

You bring:

• Capital (equity and access to both bank financing and other sources) 
• Experience doing a fair amount of business this way with other partners
• Honesty & Integrity 

My wife and I have aggressive REI goals for 2015 and after purchasing 2 properties (1 rental, 1 personal home) in 11 months, we realize we need financial partners to provide capital. Looking forward to hearing from you, understanding your goals and sharing our 2015 strategy, tactics & drills.

 Interesting tactic Logan. Have you received any takers?

 If I'm reading your post correctly, 25% downpayment is required?

Hypothetically speaking, if I purchase a property for cash and that same property is slated for a tax deed auction in a couple of months, how do I go about having the tax deed auction cancelled? Is it as simple as paying the back taxes?

I'm in a similar situation with one of my properties Rick. Bought SFR in 2006 with 0% down, now have a little equity in it, never refinanced, but been renting for negative 300$ monthly cash flow for the last 4.5 years. I currently have my property on the market to sell. It has taken me a while, but now that I've "seen the light" - negative cash flow is disgusting. At one point I tried to justify holding on to it, IF (which it's wasn't), but if the property was appreciating at $300/month, it might be worth holding onto. It's not. Tax breaks didn't help me either. Tax breaks allowed me to convince myself I was "breaking even", but I was only fooling myself. I'm not in it to break even.

Another rule I picked up on the BP podcast (don't remember which one), that finally pushed me to put it on the market, is it is time to sell if the property rents at 0.5% of the current value. I was at 0.54% and the area want take a substantial rent increase to get to the 1-2% range. Time to move on.  

Best of luck.  Looking forward to your update.  

How do you protect yourself from something like this:  http://www.weartv.com/news/features/top-stories/st...

The article states the jury found the apartment complex at fault "for not providing proper security the night their son was murdered.". I wish more details of the security protocol & horrific incident were given, but how do you protect your MFR investment from being sued over and/or won against something like this and can the same scenario be applied to SFRs?

Disclaimer: I realize that unless you're an attorney, any reply/post to this specific thread is just your opinion and I will not hold you accountable. Actually meeting with my lawyer today on a separate note and will bring it up. 

Following the advice of many BPs and seeking a law firm to construct my rental agreement on a new property, how much should I expect in legal fees for them to do this?

Thanks!

Blake - give Rebecca (  tel:(850)497-6510 ) @ Lamar Dean & Associates a call. 

great question. I found this article helpful: http://www.biggerpockets.com/renewsblog/2013/05/17/productivity-improvement-tips/