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All Forum Posts by: Kevin Branin

Kevin Branin has started 24 posts and replied 113 times.

Post: Found a home on CL, but executor of trust is holding up sale

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61

Hey BP!  I found a deal in East Mt. Airy in Philadelphia.  I called the agent and she told me that the property was being held up by the executor.  It belongs to a trust and the agent asking price was $50k

I would like to get in touch with the executor to see if they would be willing to advance the deal if I can sweeten it a little....but I can't find who is responsible.  How would I find this information and what could I use to sweeten the deal?

I really would like to find the person whop is authorized to make the sale, it being December and all. They might be trying to get it off their books before the year ends.

I'm attaching the links to the docs I have been using (blue links below).: 

TITLE

L & I

Taxes:

BRT#:502263700 Property Address:08055 WILLIAMS AVE Owner Name:HARDIN-BEY CAROL

Lien Sale Account:

If Lien Sale Account is marked Y, the amount due listed may not include all Real Estate Tax liabilities. 

Includes Payments Through:12/01/2016

Real Estate Tax Balance Information

Year Principal Interest Penalty Other Total Lien# City Solicitor Status
1997 $0.00 $0.00 $0.00 $0.00 $0.00
1998 $0.00 $0.00 $0.00 $0.00 $0.00
1999 $0.00 $0.00 $0.00 $0.00 $0.00
2000 $0.00 $0.00 $0.00 $0.00 $0.00
2001 $0.00 $0.00 $0.00 $0.00 $0.00
2002 $0.00 $0.00 $0.00 $0.00 $0.00
2003 $0.00 $0.00 $0.00 $0.00 $0.00
2004 $0.00 $0.00 $0.00 $0.00 $0.00
2005 $0.00 $473.21 $43.92 $53.68 $570.81 1512R05755784 PEDRO RAMOS AGRE
2006 $442.27 $1,298.19 $105.59 $140.28 $1,986.33 1512R06736419 ROMULO DIAZ AGRE
2007 $1,508.41 $1,221.81 $105.59 $191.35 $3,027.16 1512R07723305 ROMULO DIAZ AGRE
2008 $0.00 $0.00 $0.00 $0.00 $0.00
2009 $0.00 $0.00 $0.00 $0.00 $0.00
2010 $0.00 $0.00 $0.00 $0.00 $0.00
2011 $0.00 $0.00 $0.00 $0.00 $0.00
2012 $0.00 $0.00 $0.00 $0.00 $0.00
2013 $0.00 $0.00 $0.00 $0.00 $0.00
2014 $0.00 $0.00 $0.00 $0.00 $0.00
2015 $0.00 $0.00 $0.00 $0.00 $0.00
2016 $427.45 $83.62 $0.00 $0.00 $511.07 INST
2017 $1,280.49 $0.00 $0.00 $0.00 $1,280.49 DISC
TOTALS $3,658.62 $3,076.83 $255.10 $385.31 $7,375.86

An amount in parenthesis, e.g., ($1.00) indicates an overpayment for that year.

Status Descriptions

LBR - collections being pursued by Linebarger Collection Agency..

GRB - collections being pursued by GRB Collection Agency.

AGRE - active payment agreement plan in effect for delinquent taxes.

INST - active installment payment plan in effect for current taxes.

PIO - collections being pursued by Pioneer Collection Agency. Please call .

BRT - under appeal with the Board of Revision of Taxes.

LSLD - sold to a third-party at Tax Lien Sale. Search the civil court docket for more information.

DISC - discounted amount good thru the end of February.

SEQR - collections being pursued by Law Department's Sequestration Program. Please.

Any help garnering nay information on this person/property would be much help!

Post: Announcing your REI Carrer at work

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61

If you're going to mess around on company time, make sure it's for fantasy football. Otherwise, leave the REI at home wth the dog.

Post: Registering as Foreign LLC in Georgia...Only hold rental property

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61

I'm under contract for a SFH rental property in the state of Georgia. My LLC was formed in Pennsylvania. Georgia has ceratin exemptions from required filing for LLCs and one of them is:

  • making loans or creating or acquiring evidences of debt, mortgages, or liens on real or personal property or recording the same (NOLO.com)

So, I'm leaning in the direction of not having to register as a foreign LLC. It would save me a $225 filing fee. If I did have to register, and I did not, then I could be subjct to significant penalties.

I'm sure most don't feel comfortable dispensing legal advice here, but if you can't answer, and csn recommend a business lawyer in the Atlanta area, that would suffice

Post: Brewerytown PA

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61
I too am looking at Brewerytown. I like to bicycle through BTown on my way home from work. If I'm willing to ride down a street at night, that's a block worth looking at. The further north you go, the less you will be able to collect in rent.... more run down properties and crime in N BTown. Oxford st is the Northern end of BTown. Last Friday night, I was riding down it and I noticed a large gathering of scruffy, bearded, hipster looking people on the front porch of a row home. I take that as a sign it's starting to become gentrified at its most northern end.

Post: CapEx %

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61

I'm using 5 or 8% for vacancy around stone mountain GA...R&M using 5%.  Property Manager, 8%

I'm looking for cash flow on SFR around $200/month on Roofstock

Post: CapEx %

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61

I'm doing analysis on a few BH deals around 75-95K on the purchase price. What is a good CapEx % to use on these properties. I have been using 10%, but it seems to be eating into my cashflow.

Does anyone base their CapEx on sq. ft. of occupiable space?

Post: Definition of "Owner Occupied" when 2 names are on Deed

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61

Hey all you people with large pockets. I have some questions (actually my girlfriend asked it) about FHA and owner-occupied loans when 2 names are on the deed/mortgage. Let's assume this is a duplex where one unit it rented and we will be living in the other.

First of all, this is going to be my first time owning any property.  Is there a difference between whose names are on the deed and whose names are on the mortgage?  I would think the bank would keep the deed until the house is paid off...similar to taking a loan out to buy a car.  Maybe So.  Maybe not.

Second,  If only one person is living in the home whose name is on the deed/mortgage, is that still considered owner occupied?

Third, how long must we inhabit said property before we can move out and still keep FHA financing?

Thank You Thank You Thank You in advance!!!!

-Kevin (& Amanda)

Post: Kevin from Philadelphia! Every new Tenant gets FREE Cheesesteak

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61
999

Post: Kevin from Philadelphia! Every new Tenant gets FREE Cheesesteak

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61
Percy N. Steve Babiak , I actually made it to the DIG NW meetup last night in Manayunk. Thanks for that, my girlfriend and I really enjoyed it.

Post: Kevin from Philadelphia! Every new Tenant gets FREE Cheesesteak

Kevin BraninPosted
  • Real Estate Agent
  • Philadelphia, PA
  • Posts 115
  • Votes 61

@PercyN. Is the REIA you are speaking of on MeetUp?