All Forum Posts by: Kristina Mancaruso

Hi All!

We have a foreign investor who wants to invest in a flip project we are proposing. The investor also wants the property to be in their name. I'm not sure if this is a good idea because of all the laws involved like FIRPA. 

Does anyone have any experience or advice? I have a consultation with a lawyer set up but also wanted the community's experience. Any advice welcome! 

Dad bought fixer-upper for $210,000 and already made down payment of $20k. Before closing someone broke into the house and stole all the copper from the plumbing.  Now, our family doesn't feeling comfortable moving into the house. The contract states we have 10 days to back out of the deal without any penalty. But when we tried to back out today the seller refused saying that he'll sue for the time lost. The only way we would keep it is to fix and flip (dad is a contractor) but according to the calculator, we would probably lose money on the deal. Is the seller being truthful or just using scare tactics. Our lawyer isn't very competent, if its just scare tactics and we need a better lawyer - how do we find a good one who can get us out penalty free?