All Forum Posts by: Kurt Brumfield

Great question. Generally when someone purchase a property with cash, they only record A warranty deed. Where as, if they purchase it with a loan, then it will be recorded with a warranty deed and a deed of trust.

Most lender will ask 20% with a 620 fico. However, Don't be afraid to to tell the lenders you are comparing other leaders. Most lender will start dropping fees and down payment to earn you business if they know they are competing against each other.

Sounds like a very speculative investment.

@Everett Marshall what school district and does the land have any timber or is it clear cut?

Jewrel Rudolph You should speak to @Thomas Oliver. He has built 2 new duplex and rehab a five-plex in less than a year.

I would verify who has been paying the taxes. She may have not paid taxes but someone could have bought them at a tax auction. Which if someone has, they could be quietly waiting to foreclose once someone comes in and fix the property up.

Unfortunately, not everyone is going to do the right thing when someone tries to back door a deal. Keep doing the right thing and in time that behavior will bring you more deals.

@Shane Starr

Keep us updated on how it turns out. 

Contact your cpa to verify, but I believe you can roll your mutual funds into a business Ira own by you without pay taxes. Then use those funds to purchase r.e. To be help by your business.

Insurance generally runs as much as your taxes. However your area may have lower insurance then my state of Mississippi, but 1000 seems low.