All Forum Posts by: Rick Pozos

Have you called someone in code compliance already?? That would be the easy way to find out. That should be a good way to market to those people. Some people do that on a regular basis, but I have not done that. Call them and let us know.

I dont know the situation, but if the seller does not want to sell, you can sue for specific performance, but why?? Did they get a better offer? Did they change their mind? Do they want to keep their house? Why are they not wanting to sign closing documents? Are they wanting to give you the earnest money back?

I think you are over thinking. The title company is the one who takes care of most of the work. And thats why they get to charge you some money. They will make sure that you are buying from the actual owner of the property. They will file the deed, deed of trust(if you are getting financing) and any other documents that need to get filed. They will handle all of the money coming and going from the bank and from you to the seller. Also, they make sure taxes are paid and everything is up to date. If there is a HOA, they take care of that too. They will also set up the closing for you and the seller. When you find a property and want to get something under contract, let me know. I am more than willing to help out.

They are on the 2nd Wednesday of the month, same place, same time until the end of the year. There is the Alamo Investors Assn meeting tonight. Just google the name for all the info

Dont forget the meeting tonight here in San Antonio. We will be talking about rehabs, buy and holds, private money, lenders, contractors and everything else that you need to know about real estate investing.

It sounds a little fishy. I pull up pre foreclosure leads for a few people and they work the leads. When a lead turns into a contract we split the wholesale. I do not charge to get my guys for the leads because they are doing the deals with me.

I have never believed in paying for leads like that. Maybe get some lists to market to and have all of the calls come to you.

You were really NOT going to check what the rules were with a self directed IRA?? That sounds like YOU almost made a big mistake for not checking with Uncle Sam first. If you would have asked, I am sure that someone would, and in fact @Brian Eastman DID tell you that. You have to keep you and your IRA seperate.

There are lots of ways to purchase in your sdira. Most of the different sdira companies have informational classes or their websites have videos or youtube videos of what you can and cant do.

You can leverage your funds in the IRA with a non-recourse loan, usually with about 40% down. That sure is better than 100% down. If you can find someone with a self directed ira, he/she can lend your IRA money to flip a house. The great thing is that you can do quite a few things within the rules.

Oh, by the way, there are rules to every game. IRS has some when it comes to IRAs. Make sure that YOU know them forwards and backwards when you want to play the game. 

Hey Sean,

I have a free, no pitch group that meets every 2nd wednesday of the month. There are also 3 big groups that meet every month. Info on my profile. Call me today or Monday. I am out of town Fri, Sat and Sun this week for a short weekend vacation. I would call you, but there is no contact info on your profile.

Unfortunately that is the downside to using contractors. If they do not come recommended from others in the business, they may not be as good as they make themselves out to be.

Network with other investors and get recommendations. At the Alamo Investors Assn., subgroup: Flip- Group we traded names of all kinds of contractors. It might be worth the $150 per year for you.

I know that Quest IRA will fund within 2 to 3 business days. They are even local to you. If you really think about it, you should get title insurance on anything that you buy to make sure that the seller is the legal seller of the property or note or whatever. This will take a few days anyway. I have never needed money so bad that I need it today. If you are going to make an offer, you can always give your account statement as proof of funds and let them know you will have earnest money shortly.