All Forum Posts by: Account Closed

I have gotten some great legal advice on how to get around this long term.  Put the property into a legal entity that can be sold.

City's control over ownership of stock in corporations, or beneficiaries of trusts is extremely limited.

My lawyer has also said eventually someone will explain Linkmark Associates Inc. v. Willingboro to a city in court.  The argument will probably be extended to the unconstitutionally silencing amounted to a taking of ownership rights.

Does anyone know of a legal challenge on constitutional grounds yet?

So she has always been on time and now she has paid you $1100 of a $1000 rent for being seven days late?

I would have just said "Happy New Year don't worry about the $5."

The time it took you to write the post was worth more than $5.

I would be more concerned with the dirt above the brick than the cracks.  The cracks do look like they are old and not new.

That being said, nobody can really tell from pictures how big of problem it is.

It is fairly common in Texas.  I can see lots of potential problems but if the broker does exactly what he says he will do then it should not be a problem.

It is important to remember a few things.  The guaranteed price is not always the list price and the broker still charges full commission if they buy it.

Here is how I have seen it work.

House does not get a buyer at the list price of $200,000.

Broker buys it with CASH because the state requires they have enough cash on to buy ALL the properties that have this guarantee. 

The price paid was the $180,000 guaranteed price minus 6% commission. 

So broker gets a house for $169,200 that had been listed for $200,000.

They then treat them like any other purchase.  Flip, Fix n Flip, Fix n Hold, rent and let title season and cash out.

One thing to consider is any lack of trying to find a buyer can get the broker in a lawsuit.  Because of that they often have a way for the owner to opt out and not have the broker buy the house.

I believe you will need a cash advance.

Here are the methods I would suggest you use before you pay someone a fee to get you credit cards.

1)  Your own cash.

2) Personal line of credit. (HELOC)

3)  Owner financing if you can get a good deal.

4)  Conforming loans.

5)  Non conforming loans from local banks.  (mortgages the bank will keep in house.)

6)  Business line of credit.

7)  Hard Money lender.

I personally would ask friends and relatives but you said you are not surrounded but like minded people.

It might allow you to get the equity out of the one you own and buy the other one free and clear.

I have had very similar things happen to me.  I have learned if nobody got hurt it was a good day.

There are more than enough opportunities in Collin County.  I would start here.

Saying I need the deduction is like saying... I need the loss.

Is the car worth twice as much money because it makes you happier than the Prius would?

That is the only question.

If you are emotionally attached to the deduction just write me a check each month and call it a consulting fee.