All Forum Posts by: Jared Rogers

@Sherri Southwell I agree with @Bill Gulley. Purchase the property subject to (if the property has an existing mortgage) or with owner financing (if no existing mortgage). Therefore you get title and refinance when you solve the problems.

@Justin jr CarriganYou do not need an attorney for assignments since you will not be closing on the deal. You need an assignment document and you can find samples here - https://www.biggerpockets.com/files. Just search by Assignment.

@Shelly Smithif you just need a closing attorney there are tons but if you need one that can structure a RTO or some more complicated transactions I would go to Brian Elam of Innovative Closing Solutions.

@Ethan M. the landlord will pay anything that is not individually metered. Electricity always is individually metered if the property is a duplex by code. Water/Sewer is on separate meters sometimes. No way to really estimate cost since water/sewer varies by municipality. When you have a deal, get the prior bills and call the local water company to compare.

You will find the more creative attorneys by going to your local REIA meetings. If they are not there (which they should be) ask other investors who are there.

@Gerald W mcgee bird dogging is illegal without a license in NC. You need to be licensed if you are matching buyers and sellers (that is what a realtor does). Wholesaling is not because the wholesaler has an equitable interest since the wholesaler has a purchase contract, option agreement, etc. The interest can be assigned to another party for a fee. Keep in mind that it is illegal for the person doing the bird dogging. Another way to do it is to pay a bird dogger per lead, that is a marketing expense and legal for the bird dogger. In this case the bird dogger is passing on leads but is not negotiating, advising, etc. Example would be sending you and address of a house that has tall grass and appears to be vacant. 

I have an excellent opportunity for someone to invest from their retirement account on a loan for a SFR. The loan will be secured by a DOT and Promissory Note. The loan will be to a owner occupant. The loan will pay 10% per year for 25 years (minimum return). In many cases the borrower pays off the loan either by refinance or accelerated payments faster. Let me know if you are interested.

I am an NC buyer. PM me if you interested in passing on the opportunity.

@Quinton Washingtonyou will need an attorney to close. Most large commercial deals get closed with title companies but it is standard practice to close SFR and small commercial with attorney's.

@La T. Last thought. Make sure and interview other management companies. Do not be married to your agent, most agents do not make good managers. It never hurts to look around.