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All Forum Posts by: N/A N/A

N/A N/A has started 2 posts and replied 6 times.

Post: subject to existing title

N/A N/APosted
  • Posts 6
  • Votes 0

One of the great advantages of purchasing subject to is that you do not have to go through the hassle of a normal closing. Before you purchase have your title company do a title search and issue a commitment letter. This will indicate any problems with the title. If it is clear all you need to do is get the seller to sign the deed over to you or the entity in which you are taking title. We close in our office or sometimes right in the home.

Record the deed, pay the transfer taxes and you own the property subject to the underlying mortgage.

Post: What's your day job?

N/A N/APosted
  • Posts 6
  • Votes 0

I have been a full time investor in Florida for about 5 years now. The money has been great until recently. I am still investing full time but have diresified into some Internet businesses which have luckily picked up the slack.

I would not suggest going full time until you are ready for the commitment. It is much different working for yourself and it is also much more fulfilling but it can be difficult at times.

Post: Anyone do any other types of business here?

N/A N/APosted
  • Posts 6
  • Votes 0

I have been primarily focusing on foreclosure investing. The amount of foreclosures have become overwhelming in Florida. 99% have not equity, the mortgage people did a great job of stripping equity. Likewise up until about 18 months ago we were able to do short sales that worked. Now the values have dropped so much that in order for a short sale to work the bank has to take a massive hair cut.

We have changed the focus of our business to lease options and that is starting to work rather well. We are selling our option contracts for a small profit and doing a fairly good volume of business.

We are also starting to offer a short sale outsourcing service for realtors. We are occasionally able to do a deal where we can get a spread on a simultaneous close.

Florida is tough right now and you have to live by your wits to some extent.

I have been investing and flipping houses off and on since 1977. My partner and I have been full time investors for over 5 years and are still keeping our heads above water.

My specialties are foreclosure investing, short sales, short sale outsourcing in Florida, creative use of land trusts and lease option programs. I also am partners in a REIA in Stuart FL called FINA, Florida Investors Networking Association. Anyone in the area is more than welcome to attend a meeting. They are held on the third Wednesday of every month. Email me for details.

I look forward to being an active member of this community and I am always available to answer questions. You can email or call me any time.

I would like to introduce you to our real estate investment club servicing Northern Palm Beach County to Vero Beach, Florida. It is called the Florida Investors Networking Association (FINA). We welcom new invetors, seasoned investors, landlords and anyone that wants to learn more about real estate investing. We are dedicated to education and networking.

To learn more email me as I can not put our web link in this post.

Post: Anyone do any other types of business here?

N/A N/APosted
  • Posts 6
  • Votes 0

I have been a full time real estate investor in Florida for over 5 years and with the market the way it is I am really glad I diversified my business about a year ago. I know nothing about speculating on Jet fuel but I got into Internet marketing and have been lucky to find some really strong companies that have not only taken up the slack but created a substantial income. These days you have to do what you can including speculating on jet fuel