All Forum Posts by: Roman M.

I suggest that you get a 30 yr mortgage instead of 15yrs so your monthly payments are lower and it will not affect your financing of the next property so much and it won't kill your cash flow if there vacancy or a major repair.  You can always pay more towards principal per month depending on the performance of the property.

Cristina,

i am probably looking in the same area right now and i absolutely agree with you on the returns (they are low). i have been re investing for 10 years and i have seen the rents go up by 50% in some areas and so as the property values. since A areas are your priority (i assume Roswell or nearby like Sandy Springs) and long term is your goal as you are not looking to retire on your current investment now, then future appreciation and increase in future rent will probably be your main focus in todays market. there is nothing wrong with that. Everyone has different goals Make a plan and stick with it and you will be fine.

I hope that winter will slow down some of the demand and you will find  good one.

Done both. Timing is similar 60 to 90 days. Cost to me was almost the same (Plus minus $200). 

Biggest problem I saw with tax title service is that TD seller has to choose the title co that works with tax title services and the buyer will have to use them for the next 2 years if propery was to be resold down the road. So whoever chooses title co has to pay title closing costs so it increases the selling costs.

Life of a tax lien is 7 years which means if you don't get redeemed and you don't apply for tax deed, your certificate will be expired.

You can apply for tax deed after 2 years of issuance of the tax certificate by the county. 

you can lend as an llc or private person just make sure you record the 2nd mortgage. As far as being at the property to inspect the work, as a private lender you can do that without having any liability of being considered a partner However if you start picking up color of the tiles or choosing the colors for the house that maybe construed that you are a partner in the deal (long shot but possible ). 

It's normal when private money lenders want to see the progress of the work when they fund construction. They want to make sure that they money is going into the project and not in just someone else pocket.

What is the funding rate and how it is structured is the real question. I don't see how you can lien a tax lien. 

$10k, $20k performing first position notes will be hard to get

have you considered sub diving the 10 acres into separate plots then trying to refi the one with the house on it? With refi proceeds pay off other parcels. This way all other parcels will free and clear and a new lender will be in the first position. Obviously it will need to be structured so the original house with now smaller lot appraises for a little more then your original loan amount so you can cover refi costs.

This way you will have all the new home lots free and clear. You will probably need to use portfolio lender and not coventional financing. 

Your other option is bringing in a partner or private lender. I am sure it's cheaper then credit card rates and payments.

yes no one talks about. I am glad someone is addressing elephant in the area of buying notes. 

I will only buy notes in the area near me so I can inspect the property and evaluate market condition.  I have to think that one day I will own it. 

I know a lot of people don't do this due diligence and so long it looks good on paper they go for it. There is a lot of risk doing this and education cost money and it is sad when that education cost equals their investment.

comes out to 16% return. Not bad at all