All Forum Posts by: Roman M.

good I am not looking for any accredited or not. Too much red tape but always good to know.

So is that fund in trouble now?

I thought if you target accredited investor and have investment prospectus disclosure that  should be considered in compliance. 

tax deed wipes out HOA and the mortgage. You will owe nothing to HOA for arrears.

Ask the attorney if you can enforce the agreement and sue for performance. If you get a judgement then you can lien his share of the property but it will still be in a junior position to all other liens however you maybe able to get to some kind of agreement or a settlement and maybe it will work.  Or maybe give him a second mortgage against his half to pay for taxes and mortgage to bring things current but if it continues then you can foreclose to enforce your lien. 

2nd loan will be a heloc and the rate is north of 6 % and is adjustable. We all know the rates will be going up so it's not for everyone.

You can also try land trust instead of living trust.

Your main problem under personal name might be IRS issue. If they froze your account they can lien the property too . 

Other option is to  restructure the sale so a private money lender takes title under their land trust name and gives you contract for deed or lease option. This way their have the title secured but you have the right to purchase at set price.

have you read state statutes regarding what you can and cannot do? 

I did not read it and will not waste my time on it. 

If you feel like contacting the owner regardless of what the county tells you then it's your choice.  No one can stop you. 

Best of luck. 

Source:

http://www.navajocountyaz.gov/Departments/Treasure...

It's pretty clear:

You are buying a lien, not the property. This lien does NOT give you any right to be on the property or even talk to the property owner.

conventional lender will usually ask for 2 years of tax returns and will calculate the average annual income over 2 years.

They will use that number to calculate if you meet their income requirements, debt to income ratios, total debt ratio, etc.

If you think it will be a problem try to look for alternative lending programs like bank statement loans that don't require tax returns. The rate is higher but at least they can lend. 

no way. Rate is too low.