All Forum Posts by: Account Closed

@Mary Mitchell Thanks Mary!

@Timothy Paul russell Thanks

@John Hovanec Thanks! Good idea

@Earl Hatmaker Once again, I work a lot. And I don't do anything illegal. I was asking about a hypothetical situation that a successful investor floated to me to see if breaking that rule was a big deal, and found that it is. So I have no interest in doing it. I'm doing a bunch of things to try to solve a problem including this post, where I ask about a potential solution. So I don't think I've indicated to you that I'm not a problem solver

@Mary Mitchell thanks for your tip. However, your assumption if me spending in frivolous things is unfounded. I work 40 hours a week for a plumbing company and do side jobs on many nights and weekends (to the point where it's alienated my friends). My house is 880 square feet, my car is a used 08 aveo that has manual crank up windows and manual locks and a gaping hole in the bumper. I rarely ever eat out. I quit alcohol 2 years ago. I quit cigarettes 8 years ago. I'm not even tempted to but frivolous things. It still would take me a long time to build up 20% of something in my area. So my options at this point are things like hard money, partners, seller financing, FHA, etc

@Pete Reed I'm new to all this and still trying to figure out if my risk tolerance allows for hard money loans

@William Harrison I am, but I don't know if I could get my girlfriend on board with that. I might have to do private money or save up forever

@Lynnette E. Thanks for the response! That's interesting. I'm no longer even remotely interested in the hypothetical, but I'll keep posting devil's advocate. What if you changed all of your forms (mailing address, license, etc) but didn't move? What would be the evidence then? I'm also wondering if you move to the triplex and air b&b out the old house, but never changed those over to the triplex (mailing address, license, etc), could you be charged with not moving in even though you did move in?

Well thanks for all the feedback guys. To be clear, I didn't know where the issue landed on the continuum between some fine print clause that barely matters to the bank, and some big legal thing. Clearly the feedback is showing me that it's a big important legal matter, and now I know that. This was the point of the post. Couple people took it as an opportunity to make me seem like a jerk and thus virtue signal (such a big juicy temptation for people on social media these days). Anyways, thanks to those of you with constructive criticism!

@Aaron Flake Thanks, good idea!