All Forum Posts by: Account Closed

@Christopher Kelly    It is a little more complex than you might think.  Is there a prepayment penalty?  How easy would it be for them to refinance?

You might want to go to some of these sites...

http://www.watermarkexchange.com/buy-notes/notes-on-map.html

http://fciexchange.com

http://www.notemarketplace.com/

http://www.loanmls.com

@Elizabeth Colegrove   Good point.  Why is she only taking over the repairs 90 days after move in?  If I did not trust her (lol) I would be afraid she would rent it and then file a complaint to get the city or county to force me to do repairs.  Which she would get at a much reduced rent.  Then she could get it at a cheap price.

I would play the what if worst case scenario if we were not talking about a real property that is currently listed. 

@Kimberly Costello   Welcome to Bigger Pockets.

Nothing says "BUY ME" like a police car in the driveway on the Google Street View.  At least I cannot see any crime scene tape.

@Rick H.  That must be a California thing.  In Texas, those prices are the last to fall.  In my area, we have not really seen a decrease in rural land prices in at least 35 years.

I would suggest an owner financing instead of renting.

If you are afraid of him make sure you take title in a name he will not associate with you.  If he shows up, tell him you backed out and someone else bought it.

I have had houses treated.  All of the experts tell me if a house was treated with chemicals more than say 20-30 years ago it is unlikely you will ever have termites again because of the chemical that was used.

I guess they are talking about Chlordane.  It was banned 1988.  It can persist for at least 25-35 years.  So I never repeat treatments on previously treated properties.  I have never seen a termite problem return.

I guess in another 5-10 years that might change.

Also I think that 25-35 years might be in soil.  Prior to 1983 it was also put on wood products in the house.  That could last much longer.

@Steven W.  I would drop the Guru and head to the tax attorney.  I see a major problem with back side profits coming to you.

You could obviously do it as a hard money loan.

You might also be able to just have your IRA own some or all of an LLC that took title of it.

You could have your IRA take title to it.

But what I would certainly not suggest is a hard money loan, and you get some of the profits in some other fashion.

Many of the Texas store that closed are within driving distance of me.  I do not think it has anything to do with Amazon.

They are also opening many stores that are also cover by Amazon same day delivery.

Here most of the closing was related to Walmart Express (a failed idea) and an store location adjustments.