All Forum Posts by: Scott R.
Scott R. has started 25 posts and replied 34 times.
Post: Conditional loan approval in Father's name only??
- Atlanta, GA
- Posts 34
- Votes 3
Sigh. Ok so my credit's good and my dad's financing my first few real estate deals. I told the mortgage guy, who is like 100 years old, to set up a conditional loan approval. He says he'll get back to me Tuesday. 2 WEEKS LATER (today) he sends a curt email saying it's approved and in my father's name only. Does this matter? How would this affect going after property? The idea was to have him be the co-signer/co-borrower, not sole borrower.
Post: Burnt out landlord, great cash flow, need creative financing help
- Atlanta, GA
- Posts 34
- Votes 3
Wuddup! I have a family friend sick of her DUPLEX b/c one tenant, in particular, isn't paying rent- $2,200 a month! It was bought on foreclosure for $250K and is now prob. worth $350K- Top unit $2,200, bottom unit $1,200 a month. I have the inside track. But how would you structure this if you wanted to get the best deal- and how would you handle the current non-paying tenant??
Post: Sold as is, no disclosure - Agent is OWNER
- Atlanta, GA
- Posts 34
- Votes 3
I've heard of banks doing this b/c they didn't live in the property- but the owner who's also the real estate agent? Price is reallllly good, what do you think is the catch? It's a quadplex that's rented. My mom is an agent too and says liens are nothing I need to worry about. Okay, is that true?
Post: ATL for the win! Go Falcons!
- Atlanta, GA
- Posts 34
- Votes 3
What's up!? I'm an entrepreneur turning my attn. to real estate for the new year, new me. My goal is to acquire two properties- The first is a fourplex, the second- who knows- wholesale or fix and flip. Shoot, maybe a small apt. bldg 5-10 units. I'm super excited and can't wait to jump in.