All Forum Posts by: Keith Lewis

I have several investors that have been giving me money with liberal terms for years. My projects have grown so it will take 4 or 5 to do a multifamily deal. Can I have (5) of them sign a generic "investor agreement"? Or, should we all just create a JV?

Does anybody have an investor Syndication agreement, or direct me where to get one?

I am selling a property with owner financing. Does anyone have a mortgage that I can copy to get me started? Most of the hte ones provided on the internet are painfully simple, a little too simple.

Recently found a property with owner financing. The owner sold the property to an individual and had a contract for deed. They ended up getting divorced. The wife hasn't paid him in 6 months and he offered to sell it to me if I could get her out (he is so CHEAP!) 

I negotiated and offered the tenant cash for keys. They agreed to my terms and will be leaving in January. Now, I already agreed on a price, downpayment & contract is signed. How should the owner cancel the contract for deed? Since they left in a cash for keys scenario how should this be canceled properly so I can hold a clear title?

Anybody have a contract for that? Or, at least something written up I can plagiarize?

Edward - I have 4 other properties. One of which I am having issues with due to a contractor that is unreasonable/in lawsuit. This house needs 100% renovation but arv is about $225.

John - Its already under contract in an LLC. Thoughts? Why would that impact it?

Thanks guys, will call my current lenders about transactional funding. Might consider JV but I just want to take profit and move to a few other deals.

I have a house under contract in the name of my LLC. This is a solid neighborhood that I have bought and sold in several times. One of my competitors wants to buy it... Bad. How can I sell it to her without coming to the table with cash.

Specifics:

Its under contract for $83,000 & $2000 escrow

I am in Florida, its a FNMA house that wont allow assignments.

Sales price on contract to her $115,000 & escrow $3000 (told her I am not submitting escrow till we figure this out)

How can I set this up?

After more research, several of them seem to be reverse mortgages. Any tricks to strategic contacts for acquiring these? Keep in mind, 55+ community, older people. Some have heirs and surprisingly, some dont.

In the event of "waiting" till auction, it doesnt make sense. I put money in the local county auction site only to be very disturbed and upset. I lost 3 times to Fannie who bid them into the stratosphere.

Simon: I like your first suggestion, I am going to call several of the attorneys handling the pre-foreclosure. Next question, they arent in MLS - how do I find them?

The owners are usually are dead/have passed recently. The families, believe it or not are non-existent. Is there something I can do with local probate? Its crazy, Fannie is single handedly destroying this neighborhood.