All Forum Posts by: Chet Mazur

I think it would ge hard to explain to lay investors what the heck the investment is? The Dirt, Food, Commodity? 

I would confirm the property cash flows properly to qualify for a generic bank loan. Beyond that it's soup to nuts all depending on what you're comfortable with or can qualify for. People that partner for debt (a loan) or people that what a chuck of the deal (equity)..

When I co-own I try to setup a co-ownership agreement that define how sales will be conducted, buy/sell agreement, splitting of costs, etc.. To avoid the "sense" of impropriety, I would hire an atty.

I look for credit or national Tenants. Also reuse if it's a short term lease. Watch out for ground lease and what happens when they end. Look into companies you don't recognize. I look into companies you don't recognize. I  didn't recognize one, and they were like 90% owned by Berkshire Hathaway.

Did you just build market rate units or some Below Market Rate as well. How did you determing the number of BMR?

taxes and insurance are 8957.36 annually (746.47)and they were escrowing 1200/mon. No negative escrow.

I filed a qualified RESPA complaint with my servicer on ~1/15.

Servicing was transferred to a new servicer on 2/1.

Is servicer #1 on the hook to answer my complaint, or does #2 take over? Is it on the original time frame? My servicer is holding out 2x the amount needed for tax and insurance. One would this this is an easy issue to address, but it's been going on this long. Any suggestions?

I am looking at using a life estate, but am getting push back from my broker, and they are questioning how to price it.

Would a property being sole this way be priced by backing out the rental value of for the time until I dean from the FMV?

For this example assume FMV=500K, annual rental value 42K, 5% annual increase in rent, and I am going to live 10 yrs.

So I would sell for 750, but net 221,728.51, and have the right to life there for 10 yrs.

So would I walk w/ 221K and a place to live the rest of  my life?

It's listed as the UPB. Thanks.

I came across something odd I haven't seen before when researching a property in pre-foreclosure.

Due to having been in and out of default for A LONG time the note face value was 501K, but the UPB is~1.7M. When I reviewed the actual TD, it said something to the effect of "this TD secures a maximum of 501K in debt" since it was the TD securing a LOC. Does that just mean the the difference between 501k and 1.7M is unsecured, or does the stated limit exclude cost associated w/ a default?

Do people see an opportunity to separate the (seeming) unsecured debt from the secured debt? E.g. something like buy note for 500K (secured) +1.2M unsecured and write off the unsecured amount.

Property is work ~ 2.5M.