All Forum Posts by: Account Closed

@Phebia Philpot who on earth gives a contractor access to their bank account? This can’t be real. Do you mean you payed him too much deposit money, or that he pulled his own money out. Nobody would give a contractor access to their bank account... or please educate me, somebody how this is common in some parts of the world. Do you mean he asked you for too much money and you paid him, or that you put a contractor’s name on your bank account and said pull out as much as you need and pay yourself when your done. I just can’t make logical sense of this the way it’s described. Please help.

@Minna Reid I reckon a big question is whether big banks and Wall Street are cooking something up. Seems like the next crash will be more associated with killing the business owner and elevating the big corporation, as that is what’s already happening now. Wells Fargo used to give concession on interest if you went to the top and asked before you pay it all off. They don’t do that anymore as of 2021. So why are they making things harder on people and why are they still charging interest while they don’t require payments? Delayed problems. They’d probably rather be the ones kicking it off the ledge this time, than the ones covering when it falls.

@Minna Reid I’m a little more concerned about war so bad that money and a recession won’t matter as much. The changes to the way we lived is unprecedented and the measure of government involvement in business and home life is at an all time high. If government is funneling so much to the compliant and the haves and have nots are distancing from each other, it’s only a while til unrest and change comes from the defiant. A nation cannot exist long without the compliance of its citizens. Do people care more their home value, or their freedom? When a portion choose the latter, the rest will have to ride the tiger. Buckle up?

Hi BP!! I'll be closing escrow on a purchase soon and want to try a trust or LLC for the name this time! Anybody know some fast, easy guides or websites to execute a proper trust or LLC in the course of say 6 days?? Thanks!

P.S.- if you have any info or insight on a Deleware stat trust please explaine!

@Will Fraser I hear ya! I lived in Lincoln NE for a while, and the lack of mountains, just to see was a different experience, coming from Inland Empire, and seeing 8-10k high Mtns. If you like seeing that kind of beauty, it’s worth the move. East Tn is a hotbed right now and has the smokies as another mentioned. You can invest in Greeneville which is 1 hr from Knoxville, Asheville, Bristol. Lots of distressed properties mixed with gentrification there.

@Neil Narayan this news is about 4 months old it seems. I heard this on places like infowars a few months ago, as well as the Joe Rogan news way back before the mainstream. CNBC might be a little behind the curve if you’re looking to get ahead on trends. It seems the money makers moved from NY to FL and the CA businesses are going from CA to TX. All the money hungry are after Austin area. Austin is the new NYC.

@Joy James

I’m selling a lot fsbo, and just entered escrow. I used the same title company that the seller refered me to when purchasing. I asked the title company for some RE sale documents, printed them out, cut the parts I that didn’t pertain to our land sale out, both parties signed, and we entered escrow all through just the title company and no agent involved. The title company gave us a breakdown of closing costs for both parties, based on the sale price, and the buyer sent his cashier’s check to the title company for earnest money. Handling a sale yourself comes down to getting the basic sale documents together, and having a title company do what they always do. Other than that, I had to field a bunch of emails and calls, and vet the buyers for proof of funds, and making sure they’ve seen the property and weren’t just trying to tie it up. Buyer will send money to an escrow account, then I’ll collect from there.

I’m also selling a house soon, and I wouldn’t do anything but hire a rockstar agent for that! I was actually able to sell my land for less Fsbo, because I could afford to drop the price a few thousand more without the commission! In this market, it might be more harmful to try to use an agent on less desirable properties, as some of them are too busy to care about small sales at this time.

@Ryan Reddy well if you’re doing homes that don’t require too much mechanical, you’ll really need to have a nack for making them look nice. If you’re getting into home flipping, you should learn how to perform basic tasks yourself, but you probably need to hire most the work out and learn the tricks of the trade by observation, then try them out. You’ll save a lot of time and error that way, but you’ll have to go through a big learning curve in my opinion to become a profitable flipper. Hopefully you can learn quicker than me, and hopefully you’ll have plenty of money to help you move quickly to finish your first one as they can take a long time.

Considering the first one a huge learning process will help you cope with the profit margins.

@Nicky Reader right. Sounds about right... interesting thoughts about builders taking their fingers off the trigger, but I’ll bet there’s going to be some big gamblers here and there. Pretty good gambling opportunity for a smaller outfit. I do think there is something significant happening per the laws being put in place by cities, and I do agree cities in general tend to be legislated by one party, while outside cities it’s majority republican. I don’t care about parties and don’t affiliate, but people seem to be leaving cities for concerns of rioting, lockdowns, and fear of depreciation, and not just the typical lower cost that people could always leave for. I think the lower costing places like North Carolina, Idaho and Texas are not so low costing anymore, but represent the freedoms people are looking for.

@Nicky Reader ¡Wow! I didn’t realize it was effecting appliances and other materials that bad. Thought maybe it was partially tariffs too. The prices are kind of a “kick us while we’re down”. Lefty/Righty cities was inaccurate. What I should have said is Democrat run states and Republican run states. What I observe is people are leaving Democrat run states in staggering numbers while places like Texas, North Carolina, Tennessee, Idaho are starting to see a squeeze in supply of housing. There’s a big need in these states because many people are pouring into them from their former states of CA, NY, MI etc. So what are the prices in housing going to look like in these states where new construction is needed, vs where it’s not as demanded? Shouldn’t we see a big change on new construction prices as a result?