All Forum Posts by: Nathan Grabau

I am not a lawyer and this is not legal advice, but I would try to keep in mind that liens are legal and powerful tools. They serve a purpose and now that the property is in the line of fire of the lien, it is pretty much impossible to get it out. Trying to figure out how to hide an asset from a debtor could also imply fraud. 

I personally do not think the lender or title company has any more responsibility than you to make sure your husband did not have a lien against him. I would say that level is equally at no responsibility to check this, because why would you?

It sounds to me like the only pathway you have to getting clear is to legally go after your husband for not disclosing this to you. There seems to be a break in trust here if he had a massive debt that he did not tell you about as he came onto your assets. I would consult an attorney, but it is probably possible to sue him over the financial issue, where you say, "I still love you and lets keep our marriage in tact, but you hid this thing from me and we need to separate our finances." 

In summary, I would focus on either the claim that he did not know and focus on either: was he improperly informed of this? or did he improperly inform you? I think without civil action on one of those two things, you are not going to be able to get your assets back. I am so sorry that you are going through this. 

 If you have people lined up, I would sell to them, and do the repairs they asked for. I would get possession if the property behind you, but still move forward with a suit against the city. 

This could be a lawyer question though, because having the property still or having sold the property, and having a history of what you thought you should have cleared vs what you did clear, could impact you ability to recover damages. 

I would do what your bank recommends because any loan you take on the properties, you are going to offer a personal guarantee on, and your house is part of that guarantee. Once rented, I would take a loan on the rental properties to pay off the heloc/ raise capital to be redeployed elsewhere. 

I would do whatever the cheapest option is to get it sold, and try to escrow the costs, so that the seller does not back out after you start checking boxes. 

I am so sorry for your situation too. That is completely inappropriate that the City is treating you this way. 

The road of least resistance here is to use 5% down convention loans to purchase more single family properties, that you live in for a year, then rent out after you move out and buy a new one. There are down payment assistance programs that can get your first one below 1% down. 

You could also buy a 2-4 unit property yourself with a 3.5% down FHA loan, live in one unit, and rent the others. The entry cost here is not 0(for either strategy) but it is lower than 20% which is what most people assume.

 Yeah that is crazy high to me

Just DM'ed you with an arbitrage deal I am working on for a property owner in Loveland, CO. 

That is really high to me. I would contact Quest CPA out of Highlands Ranch. They are great. 

Part of it could be timing too, that this is a really crazy time of year for CPAs. I know mine is working 16-18 hour days right now to try to get all of our taxes processed.  

I am getting house hacks turned STR's at 5% down with rates at 7.5% and PMI to cash flow for clients. I would research 4 and 5 bedroom STR's in Denver Metro in the cities where they are legal and you would be surprised by what you find.

I have generated lists with batchleads as part of the monthly membership and then skip traced with Fivver. I can skip trace and run through the DNC on Fivver for about a third of the cost of batchleads.