All Forum Posts by: Ryan Mertz

Im catching up with you now.
heres a presumable example

$30,000 house market value
$10,000 quite claim deed
in most cases the person is releasing the money he has paid to the mortgage company and home repair if any.

the other who has interest would be some one like a utility company, or the county because of a debt owed.
once the debt on the property is satisfied then can you go get the quite claim deed transfered into a warrany deed and since im sure you have to use a title insurance company what are the cost you incurr with them.
And if you dont have that general information let me know who i should ask and what should i ask to verify the debts that may be owed on the house and how to find out the cost of doing all the title tranfers.

if

Dang Michael your making me feel like Ive been slacking in life.
I am finding me way. Very motivated in makeing things happen.
If you want to give me that 30 minutes I would gladly accept.
contact me and we'll set up a call time

How come I cant comprehend the quite claim deed

Are you telling me that Im paying for a piece of paper that says I have a interest in the house but yet I dont own it outright?
That makes no sense to me at all of why they would even have this situation.
Why is there so many loop holes in the buying and selling of real estate?
Ive sold plenty of cars and its basic supply and demand sales.
I understand most deals are straight forward but like you said there are so many modified contracts on the properties you here all sorts of different sales.

Wusup Danny and Michael.
I am trying to read all the post you guys left relating to the topics I am currently researching.
I dont know if pre forclosures are worth messing with in michigan considering that you wouldnt want to save someones house who dont have a huge chunk of principle in it. In the last 5 years prices are down maybe 40% or more in some areas here Michigan.
But if they are worth checking out. im trying to build my knowledge of the Game up alot more and would love a link to so information on how to find pre forclosures.
And how are you guys able to pull off so many deals.
I want to make 5-deals this year and then maybe set my goals alot higher.
You guys are REAL ESTATE MONSTERS

I am preparing to become an investor so all my knowledge is based on what i read,my opinion and common sense!

I believe the michigan game is all about finding that perfect single family home and go long term.
In my honest opinion if your in michigan
If you dont have 2 years worth of house expenses saved with no income coming from the house then maybe wait and think about what your doing.
i say find houses and make deals that have $4000 or less in expenses a year.
You should be some what covered as far time goes.
And you have over a year to come up with a exit strategy Just the security deposit alone from the renters should help minimize your over all risk of loss for the 1st year.
the rest of the loss just claim on your taxes.
i believe thats how it works.
consult some of the pro on here
Also if you want to network I have a investment plan you might like.

Hello BiggerPocket

I am Ryan Mertz.
I will be researching this site in search of information on how to be prepared for all different positions and situations of Real Estate.
1. I want to learn how Bird Dogs and Property Locator work
2. I would like to know how to find asset managers/
and how do you go about finding the best person to work with when it comes to wholesalers when investing
(maybe im not in tune with how wholesalers work but i find that there job really is to market a property. and ive noticed in michigan most properties are sold on a quite claim deed)
4.What are the downfalls of a quite claim deed
5. what are the down falls for a short sale

6. when wholesaling how do you stop the buyer from going around you.
7.when and How to approach a seller with a option contract.
8.How and when to hold/rent or re-sell

Does being a real estate agent increase your investing and wholesaling power?

These are the subject areas I will be looking in so if you guys know of any links to threads that will help me
please let me know
anyone who would like to network give me a add!
anyone with answers please by all mean enlighten me
Thanks for your time
This is a great site!

RYAN

Whoa... That was intense.
I had to read this post and it was quite interesting.
Mr.Ferren
Have you ever wrote up a Property Finder Contract to use with the investors you work with.
I really would like to talk to you just so I can get a good grasp at finding properties in general but I would like to know why the financer was so angry with his post and assuming that BIRD DOGGING IS ILLEGAL.
I dont see how because you can give a gift or exchange of goods to anyone.
As a matter of fact maybe you have an legal interest in the property with the signing of the contract by the investor.
I'd like to talk more with you.
If you do not have a contract I would like to gather some information from you because you seem very sharp at this bird dog game. That way I could possibly write up a contract or a property locating plan for myself

what do you plan on doing with these types of deals

I would love to be able to answer this question!

Is there any biggerpocket players in here who could advise and coach me along through finding sellers,buyers and how to transact the deal on both ends.
Also what if I tie up a house on a option to buy contract and find a buyer who is using a real estate and is pulling a mortgage loan for the property.
What do i do in this situation?
I know i can make deals i am just nervous because i keep coming up with questions like these to try and be prepared for any kind of situation.
Anyone willing to help. If so Your time and advice would be greatly appreciated and you would be helping out my family and I so much!
thanks a million

RYan Mertz
[EMAIL REMOVED]

I also am a rookie and dont want to make mistakes , or atleast minimize my mistakes as much as possible .
I am wondering how the deposit works with the title company.
Is the title company found by me.
for example tell me if this is how it works and it also might help LARRY LEE.
Jar and Michael please help us along with this.
1st find a seller who is motivated to sell
Tie up the property with a option.
The earnest money deposit is still in need of detailed explaining because this is really the most important step in my opinion to legally tie up the property and have legal interest.

Also what if I found a buyer who is purchasing with a mortgage?

Michael and Jar would you guys mind mailing me the option contracts you are using so I can compare and ammend mine .
Also Jar send me the property analysis sheet you use.
I have one that came with a course I went to a while back but I have a hard copy and would like to have it on the computer so i can fill it out and print

[EMAIL REMOVED]
thanks so much you guys

Ryan