All Forum Posts by: Account Closed

I have a triplex that needs some issues fixed asap. It is a property with section 8 tenants and there are a few things that need to be taken cared of right away. Please message me if you have a good, honest contractor or if your a contractor yourself.

Thanks

@Jared B. It is best if you refi while having title under your personal name because you will have a much better chance of getting a loan. Either way, a bank will require a personal guarantee on the loan whether or not you take the loan out under an LLC. I would confirm with a mortgage broker or lender. The only way you can get a non-recourse loan is if its pretty much a hard money loan.

Looking to connect with an Orlando Property Management company that is honest and reliable. Any leads?

Is there an advantage of bidding on a Tax Deed as opposed to a Tax Certificate? Granted I understand that with the deed you get the property and the certificate your really just buying a note. But it seems that with the 50% assessed rule, you are risking a huge amount bec you ultimately don't really know what your going to be in for. Sorry im new to this so if its a dumb question I apologize.  

@Amadeus Hladun I don't know what laws are up in Alberta. Here in Florida (and America for that matter) a Pre-Foreclosure means that the owners have missed payments to the bank. Once that happens a Lis Pendens is served. 

A Short Sale is when the owners (or really the bank) sell the house "short" of what they (the bank) are owed on the principal of the mortgage. This step of the foreclosure process happens before the home ever goes to auction. Sometimes, banks would rather just eat the loss and get the asset off their books as opposed to spending money on selling it as an REO. I have sold a bunch of distressed homes and currently buying a distressed 4plex.

If you have any other questions, feel free to PM me.

@Alex Gaw Hey man, we have ALL been there. 100%. Anyone that tells you they haven't is a liar. Real Estate is not nearly as easy as they make it look on the reality shows. I can tell you right now (and I was waiting to say this until I closed on something) that finding this website SAVED ME. Yes, you read right. I was like you. No leads, no excitement, no deals. Just humped over and depressed watching Netflix and Hulu all day waiting for the phone to ring or emails to be returned. Then I found this website and oh my goodness I have been rejuvenated. 

For instance. I am now looking at deals out of state that I once thought did not exist. I have met with people, flew up to Pennsylvania to meet with people from this website to see residential deals. As we were driving, I asked about a commercial building I saw. Long story short, there is a chance that I am going to be able to close on a commercial AND residential deal!!!! 

Real Estate is the best industry to be in for a lot of different reasons and the worst industry for a lot of different reasons. Pick ONE aspect of real estate that you are going to crush. Absolutely own. Master. Give yourself 6-12 months. If after that you still are lost then maybe its not for you. But i can almost guarantee that if you do this you will be successful. PM me if you ever want to call or chat. I have been there. I have hit BELOW rock bottom. But I am now moving forward and hoping to close on many deals and becoming the RE Mogul I have dreamed to become.

Best of Luck. 

Honestly the best way to go is deal with wholesalers who really know the business. In south Florida especially where there is a ton of fraud and liars, it is crucial to background and double check EVERYTHING. I have found that if you are dealing with a reliable wholesaler then you should be ok.

@Ned Carey I would love to know the names to those people. I am trying to find where to start. i dont even know where to begin. Thanks

@Ned Carey is this for Maryland only?

@Andrew Kelly...please me about this deal