All Forum Posts by: Ru Monsell

Last Sept. I bought a residential parcel at a tax deed auction in upstate NY near Albany. I hold full legal title, and wanted to sell quickly. I had an enthusiastic buyer all set, but it feel through because her lawyer's title co. said they wouldn't insure anything bought at auction until 2 years had elapsed. Any suggestions on how to find a title co. that will ensure the property so I can sell it without waiting until late next year?

Anyone have suggestions on how to find people who buy up houses to rehab? My primary interest is not in wholesaling or rehabbing, but I've been approached by a seller who has an [property]. It needs an overhaul, and in this case I'd want to just flip it for a modest finders fee or commission.

Thanks

Ru

Anyone in the northeast trained by Marko and successfully doing subject to acquisitions? I'd love to chat!

I'm interested in buying subject to, and currently have on the hook a very motivated seller with a nice house. Trouble is she owes very close to what the house is worth, or maybe even more, between her mortgage balance and HELOC. I'm looking for opinions on whether a sandwich lease option agreement would be my best bet, and if so, how to structure it. The basics are a house with a FMV of about $150k, no repairs needed, a mortgage of 115K at 5.75% fixed, and $42K on the home equity loan. I appreciate your input.

Ru

I'd like advice on whether a self directed IRA is important to have for a RE investor, and why, and how to use it to best advantage. Should I invest the money I put in it in some REITS or just keep it there for liquidating when needed? Right now it's earning no interest.

Matt, I'm unclear on why highter interest rates, or for that matter, using land trusts, will cause lenders to exercise their due on sale clause more. Can you clarify your thinking for me?

Thanks,

Ru

Brian, thanks for that bit of intelligence! I hadn't hear anything about this new act and will do a search for it now.

Thank you!

Ru

Very helpful insights! Thanks, gentlemen.

Would love to hear from anyone buying by taking over loans subject to existing seller financing. The closer you live to t Maine, the more helpful the advice will probably be! thanks

It sounds like a really good idea to get the data when homeowners are just behind, before they've even received a notice of default. But A) it's pretty expensive, and B) when I called to ask a few questions, the man I spoke to was very RUDE and even hung up on me! Is there a similar service anyone knows of? I'd be appreciative...

Ru