All Forum Posts by: Jay London

I've been in the real estate business since 1997. I build, flip, wholesale, develop ect. More than likely I've done it. I may be looking for a few team members in the OKC area that would like to trade work for knowledge.  

Jason if you didn't get your answers let me know. I'm a Broker and can help you out.

Jay

I bought one last month that had the deed restriction and did a double closing to a cash buyer. Have anyone else tried to sell the ones with deed restrictions to cash buyers. What I was told by the closing agent was that the only ones that care about a deed restrictions are the lenders for the new buyer.

Check with all insurance companies. Your local independants can usually write it through someone like Graham Rogers and its called a builders risk/ rehab policy.
I just bought one for a New spec house with $230,000 in coverage and it was $589 for the year, but builders risk does not usually cover general liability (trip and fall insurance) workers comp is what covers your workers. Make sure all your subs carry it or carry a policy yourself. If you have both of them you'll be fine. If a person sues they are only gonna get the policy limits anyway unless you own half the city your live in and the plantiffs attorney knows that.

Ibrahaim,
I'm gonna bet that if you get in touch with his attorney, it will be a slam dunk. That attorney is gonna go after any proceeds of the sale to be paid for services.

This is funny! Guess law school didn't teach him HOW to cover up the crime just how to defend someone.

Man you guys got the beat down yesturday!!!!!!! Hope everyone is ok.

Did you make it through. I'm 4 hrs north of ya in OK and we got some serious thunderstorms last night. No twisters though.