All Forum Posts by: Dan Davis

i guess i misunderstood in the 3rd post it sounded to me like he was going to sell the house but tell the insurance company that it was rented so that the mortgage would not know that it was sold i guess i read to much into it yes john if the new buyer buys insurance everybody is covered my understanding was matt was going to buy the insurance and charge the new owners a little extra

the wrap is not were i beleive the farud would be it on the insurance side if you do not disclose to the mortgage company that you sold it can you imagine the proplems if the house was destroyed who picks up the pieces when the insurance does not cover everthing

if you were the buyer would you sign a contract like that new owwner has to get renters insurance what if something goes wrong you go to court and say we were only trying to fraud the mortgage company but would like you to inforce the rest of the contact i dont think i would want to be on either side of that contact

get paid as a leasing agent on the 1st half of the deal when the house closes you get paid as a sales agent on closing minus the leasing fee I have done deels this way as an owner and is the only way a owner should agree to

has anybody heard of Rapid Flip USA a owner finance program

the best way I have found is to look at the sales in your area and price range of forecloser sales the banks now these and acording to the condition will not drop bellow these should you find one that needs alot of work try a justifcation list of cost

get your licence even if you chose not use it the inforemation you will get will be worth the time and trouble

the balloon payment usually means the full amount will be due. Your title company should file the paperwork always check to be sure that it gets done even when ussing a bank. I learned the hard way.

and this is why I got my license

I am suprised nobody mentioned the tax savings becase when you do your own repairs there are none and at 35 % it can add up pretty fast