All Forum Posts by: Daniel Paloscio

If you think there is asbestos I would hire a company to remove it. That stuff is really bad to breathe in. If you decide to take it down yourself spray the ceiling with water and let it sit for a little bit. That will make it a lot easier to scrape.

I used Smartmove recently and was unhappy with the results. I did a background check on a potential tenant and everything seemed to check out. It told me the tenant had some open collections but no evictions and no criminal record. It gave me a low acceptance recommendation and I doubled the security deposit and required first and last months rent. I received one months rent payment and he hasn't paid since. A friend of mine is an attorney and handling the eviction, he looked the tenant up and found 2 evictions. I looked the tenant up and found the evictions and criminal stuff myself right in public records. Maybe this is an issue specific to Pinellas County but I don't know why Smartmove didn't catch it. It doesn't leave me feeling good about using them in the future especially considering tenants could have lived anywhere and checking my county alone doesn't help. Anyone have great experiences with another company?

Thanks guys for all your help. Spoke with title today and I'm good to get it under contract. They will accept the escrow and process the contract. I wasn't sure if they would without the final approval from the judge to sell the house.

@Wayne Brooks so if I got the property under contract prior to the PR receiving the letters of administration would it be a valid contract? I'll talk to my title people in the am about it but maybe you know.

I agree @Derek W. but what I'm wondering is if the contract is even valid if its signed before they have the right to sell it.

@Derek W.

That's what I'm wondering. Can I still get the property under contract before the PR gets paperwork back from the state saying she can sell it, then schedule the closing once the PR is legally able to sell? Could the title company still hold the contract and and get the process started? 

@Rick H. What do you think about my questions above. Also, what is the paper called that the PR is waiting on from the state that gives her the ability to sell?

Hey guys,

I have been talking to the executor of an estate here in Pinellas County Florida and we have agreed on a purchase price. She is ready to sign a contract but the estate isn't settled yet. She said she's still waiting on final approval to sell the property. It's only been in probate for about 6 months and most properties I've bought in probate were usually more than 10 months old. The executor also has 2 other siblings and they are to split the proceeds of the sale between the 3 of them. My question is can I get the property under contract, having all the heirs sign the contract, and schedule the closing date on or before 11/20/15 (more than a year after probate started)? Or do I have to wait until she gets the paperwork that says she can sell to execute the contract? I want to lock the property up now so I don't miss out on the opportunity as the months pass. If an executed contract isn't valid yet is there any other way to secure the property?

Thanks,

Danny

Hey Guys, I'm using a hard money lender that's requiring me to record a mortgage at closing. The mortgage tax on that isn't cheap. On the house i closed on yesterday it was over $800. Doing several of these per year I feel like I am wasting quite a bit of money. Is there any other way for my lender to secure his investment without having me sign and record a mortgage? Thanks, Danny

Congrats on passing your exam! This site holds a wealth of knowledge. I've virtually created my business based on the knowledge I was able to get here. I hope biggerpockets works for you as well as it has for me.

@Raymond B. 

 Thanks.. I did that on the others but for some reason it untagged them.