All Forum Posts by: Parker Detweiler

@Shannon Keating ABSOLUTELY NOT. I operate on a pretty large scale and have my own full time crews, I would never recommend anyone to have a big box store do any installs. They hire the cheapest they can find and charge the most.

Title the property in a trust with both partners as 50% beneficiary, distribute the proceeds at closing at 50% each and keep track of all expenses and who paid for what then settle up on expenses whenever you feel like it. Quite simple actually.

Sell it, but it back in the next crash for pennies from the bank that forecloses the guy you sell it to. Just my two cents but that is the exact reason I am currently selling off all rentals. I will buy them back in the next crash for pennies on the dollar though.

@J Scott

I operate as a securities company, so if you hand me a million dollars do you want me to operate in the best interest of your money, or spend YOUR money tracking someone down to give them the remains of a person that they cared enough about to forget about their remains? I am not in this business to be nice I am in this business to make money and PROTECT my investors MONEY. Not trying to come off as an ***, but as I said, not my problem.

Yes….any qualified attorney should draw it up with the land trust.

@Steve Babiak

Use a trust cert with it and doesn't matter what country or state, its done to keep taxes and liability easy nothing else. Some title companies may not know what to do, but thats going to happen anywhere.

I always forget how cheap property is in other areas, $41,000.00 in Florida will buy you the most run down piece of garbage in the worst area. If you could even find something that cheap I wouldn't even be able to tell you where, I don't mess with anything that markets for under $200,000.00.

@Steve Babiak

If I kept all the sentimental crap we found I would have to build a 500,000 square foot warehouse to store it all. Shoot even when the law requires me to keep something I still store the state max storage fee before I sell it at public auction. Glad someone understands what it is doesn't matter and that it isn't my problem under any circumstance. 

@Marc Oister depends on if the seller will have a problem with it, but more than likely shouldn't have any issues as long as it isn't a requirement for the property to be owner occupied.

@Marc Oister What @Wayne Brooks was saying is that your aren't actually purchasing "Foreclosure" you are actually purchasing an REO property that has already been foreclosed. He didn't catch that from your initial post and the only reason I did was because of my knowledge of foreclosure sales i.e. sheriff sales in different states.