All Forum Posts by: Rachel Zhang

I bought a property at trustee sale of a second lien and after a month's rehab, put in on the market for resell. 3 days after my buyer got into the contract, the 3rd lien hold (BofA) filed on NOS on the 3rd lien...I informed the trustee and the bank about the situation...and Bof A got back to me that "they are looking into the situation" They thought they are the 2nd position, since it was a HLOC, but the 2nd and 3nd recorded date were 14 days apart. By legal definition, the Bof A is the 3 rd, and wiped out. period. But they still take time to investigate. and the title company won't issue title insurance, even through they believe the 3rd is wiped out. I am thinking to rent it out and sue the bank..for loss, any specific recommendations? DO not want to pay lawyer until it is done...how long it would take? I think it is straight forward clear, why bank is dragging its feet?

Hi Bryan, if you do not want to give tenant credit, what are you going to do with the 5% down payment and $100 to $200 monthly credit? Also, will the tenant take care of the repair while the only responsibility of the owner is to take care of mortgage payment, property tax, HOA , insurance? The utility bill is negotiable as well. Correct?

I am an investor and have always used realtors to sell my properties. Most often, I hand them turn key properties. I am thinking to get my license. The big question is what kind of firm I shall park my license? I plan to continue actively investing. and on the side, I can add new clients such as my fellow investors, and possibly sell my own properties. Shall I work with small firm or big companies, such as Prudential, ReMax, etc. I have been on my own for 6 years, truly enjoy the freedom of my work. Can being an agent in a big firm restrict my free style?

Thanks very much :D