All Forum Posts by: McKellar Newsom

I like to talk in person or on the phone and ask the realtor to tell me their best 2 deals. I need access to all the MLS listings and to be able to search myself. A great option is to ask your significant other to get a real estate license or for you to get your own.

I found an incredible IRA lender. I have used many banks and have done many loans. but working with First Western Federal in Rapid City South Dakota was wonderful. Nick Conway talked me through numerous scenarios and ideas. He outlined the options in a clear straightforward way and put up with my thinking out loud. Becky Walters is the epitome of organization. She followed up quickly and was also patient but firm with her reminders. When I closed on the loan and saw that First Western had already filled out the auto pay forms for me for my IRA, I could have sent a kiss through the mail. This important detail saved me at least an hour of my time and decreased my stress level regarding getting the auto pay paperwork in on time for the first payment. Obviously, First Western has a great deal of experience doing the complicated IRA loans. P.S. It's been a long time since I have visited this site but it's fun for me to get back on here.

I use Pensco Trust and my husband uses Equity Trust. Equity Trust answers their phone more than Pensco Trust.

At ET, you can opt to pay more to get better service ($200?). I have made a flow chart for Pensco Trust to help me get to the right person. Working with either company takes patience.

Entrust is a franchise and a national company I believe so you will need to get to know your local rep if you have a franchise in the area.

My accountant didn't like Guidant's checkbook practices. Good luck. mck

Hi Kevin Fintland
A lot of the auction.com properties are actually auctioning notes, not the properties themselves. Double check to see if they are auctioning the debt or the property. The listings are confusing and it's tough to tell sometimes. Call the 800 number and ask. If they are auctioning the note and you want to ultimately get the property, you will have to budget for foreclosure costs.

You, not Auction.com, will have to check title. You'll need to confirm whether the 2nd, 3rd, etc. liens will remain with the property.

If they are selling a note, you won't be able to enter the property until after you foreclose so you won't know how the property will be left by the tenant.

Auction deals can be really profitable, but I prefer the ones you can go into beforehand and get clear title. mck

I had a rental with a sex offender living across the street. I learned everything I could about the history of the guy living there. I talked to his public counselor, the attorney and the cop handling the case. It turned out the guy had molested his daughter and granddaughter and was pretty low risk.

We had a family with a daughter moving into the house. I told the family about the guy. I have to sleep at night. mck

We bid on a smoke house recently. All the places where pictures were hung were white compared to the rest of the walls. Did you have any problems with the picture areas blending in with the rest of the wall? mck

Or my investor friend misunderstood something he read.

The tenants could really make the need for repairs as well.

I can't imagine how a law like that could ever work.

I assume it's some sort of state bill somewhere. Thanks James Vermillion mck

Today an investor friend told me he had read about new possible legislation stating that a house sold in less than 180 days might be subject to repairs for up to 5 years after the sale.

Has anyone heard about this? I'm hoping he just misread something. Thanks. mck

Rob K, Sharon Vornholt, Joshua Dorkin

Thanks for the advice. I'm getting bids on removing the tree. I'll make sure they get the roots as well. I'll also check with a structural engineer.

Interesting to note that foundation issues are common this year. Thanks again. mck