All Forum Posts by: Marty Happle

@Katharine Chartrand & @David O ... thanks a lot.

Buy the investment, get help for free on BP!!

Jay Scott will give you some solid advice all the time here, he's way more experienced than me so he doesn't need me to agree, but definitely getting licensed does not equal extra income. You may learn how to find deals and once you have a deal, it is exponentially easier to insert yourself into the real estate biz. It is very hard to find someone willing to fund someone with no experience. Flippers with experience can mess up and make a big mistake, let alone a newbie. Working with the pops would be tough too because he will do it his way and not listen to you and that might not be what is needed for that market. All lenders want you to have some money in the deal too. After you build a relationship that may change, but no one will fund a deal entirely without a newbie.

Keep at it, never give up, it took me a long time, but it paid off.

hi Ben,

I'd love to see what you have. I'm a cash buyer and looking for a good deal.

I'll send you a colleage request.

I bought a house cash to flip on April 17.

On the HUD I have this for title

1101 Titles Services and Lenders Title Insurance $750
1103 Owners Title Insurance $965

Ok.. now.. I am going to refinance this house with a hard money lender next week hopefully. I am also going to change the LLC that owns the property to another LLC that I own.

1. Do I need to get all new title insurance?

2. If I do get new title insurance with a different title company (or even the same title company), is the title insurance on the first purchase going to be pro-rated and refunded?

Great thread. When I grow up I want to be as well versed as @Dion DePaoli

Not sure you would agree here but ..... Amortization is a beautiful thing. If you buy a re-performing note the early payments are mostly just interest. The principle is barely touched. When you sell a note, UPB is most of what dictates the sale price. When you collect 7 years of payments then sell the note, you are maximixing the cash cycle (I made that term up).

You want to sell NPN's? I'll take a look at them.

BK can easily work in your favor though and if all other debts are removed it makes more available to pay you with.

Rental property or primary residence doesn't matter unless you take the property and have ejectment law that comes into play.

If it goes unsecured you can file a judgement which can be pricey but depending on the size of the note, it may be worth it.

Thanks everyone. @Steve Babiak - now that is something that would be nice. I would have to talk to my attorney.

@Tyrus S. - it's been about 3 months now just for getting a closing date. They saw on the home inspector's report that there was old evidence of termites but no activity at the moment, but the inspector wrote "treatment suggested". They wanted it sprayed, so I got it sprayed for $535 then sent in the paper work and they didn't receive it because it wasn't marked paid. We didn't know that they were waiting for a paid stamp on the report, but when we did we fixed that and then they said all terms were met. It then has been about 3 weeks now just waiting. Both attorneys say they are trying.