All Forum Posts by: Kristine Baker

Again, I would try to resolve the issue through the trustee first before it got to that point.  

I direct the trustee.  And yes, I would answer the lawsuit.

I am an honest person.  Of course I till take the correct action to fix the problem before it gets that far.   I just have everything set up if something crazy happens.  Keep in mind, there is a difference between trust and land trust.  If you are stepping forward to defend the trust, you are not in a land trust. You can make yourself the trustee..but why do that?  I know I would cave if I had to go to court.  I have a lawyer be the trustee for our land trusts, if a situation does arise and it does go to court, I do not want my interest disclosed.  In Florida, there are statues that protect the beneficiary.   The trustee is someone I want that I know will not under any situation disclose my position.  This is one of the reasons I started this post. There is a difference and given the state different rules. 

That is what the trustee is for.

Great!

Hi Ryan,

I would look into your local REIA. I would also call some wholesale agents, they have deal typically with an ok spread. I tend to stay away from bank loans. I use private and hard money for most of my transactions. You really need to know your numbers to use both. When I analyze a deal, I am looking for how long will the rehab take, and what my days on market are going to be. If I think I cannot turn the house around in 6 mo. I am not excited about the deal. My market where I invest moves really quickly. Get to know your market. Some price ranges might be better than others. Getting good at calculating your ARV, after repair value, is important. There is a formula to use and may vary given the area you invest in. Again, your local REIA is one of the best tools to find this info out. Good Luck and way to go to take action!

Hi Jared,

What area do you cover?  Anything near the beach? Is there any questions you would like to ask any of us?  I'm typically an end buyer however if I have too many leads I wholesale myself. 

Joanna,

  Make sure you have your top amount you are willing to pay and don't go above it.  Sometimes auctions can be tricky. Good luck.

Hi Steve, That is great!  In Florida, that is the only way I hold property.  I have used them to provide protection for me and also provide many layers of asset protection both in buying and selling and rental properties.  Land Trusts are a huge tool for me to create very creative real estate transactions when more than one party is involved.  I have mastered the technique of not being recorded in public record.  It is amazing to me how little is actually known about the topic when it is one of the bust ways to purchase property.

Hi Suzanne,

I have a few meetings I run.  Meetup look for flipping Central Florida Real Estate.

For CFRI,  My next meeting is actually this Wednesday, June  8th....holiday inn express, Clermont 6:30 pm.  First meeting is free.  Business credit is the topic.  I look forward to meeting you.