All Forum Posts by: Kevin Cardinale

Thank you all. I do have info about the deed. Now to find the owner :)

no no he is definitely going to be occupying, as his primary and only residence.

Here's my concerns, if I take hard money, the interest will kill any potential profit I might make.

That's just it, finding the borrower. I'm assuming at this point with countrywide taking assignment, that that means they own it?

I'm basing this, on that last house I tried to run around looking for the owner, the clerk's office had the same thing just deed, trust of deed, and assignment to countrywide. Noone knew who owned it after that.

way to rain on my parade, i'll just be in the corner crying.

I'm assuming i'm just as good as a company that charges to run skiptraces. I literally have all the time in the world, since I work at home and know my way around documents and following paper trails.

So what should I really be doing?

I'm trying to buy the property. Someone said, buy any lein on the property and then foreclose on the property to force a sale to me.

Am I even saying that right?

Why is this so ridiculous? I thought Obama said he was taking care of this 4 years ago? (not to get political, but sheesh)

Who has Countrywide's portfolio?

I punch the parcel number in voila the records come up on the clerk's website. I scroll down to the bottom and gasp: ASSIGNMENT - countrywide.

I spent one day trying to find the owner of a home that belonged to countrywide some time ago. I was bounced, transferred, referred to, and ended up on the desk of a portfolio manager of every major bank and even got to the desk of some government agency.

What was really funny was, the portfolio managers were so intrigued that I got to them. I know they are normally in some ivory tower. They were really stunned by my Chinese phone number.

However, they couldn't help me. One suggested that I buy an entire asset book of countrywide... we're talking millions.

Who actually owns these assets of countrywide now? off the top of your head, if you happen to know.

The guy that said have a DEFINITE business plan and target an area, was rock solid in his advice.

He was even exaggerating about the 100 houses. If by the 10th 20th house you're not getting a sense of how a house in your target area is worth, something is wrong or your target area is too wide or too diverse.

He even suggested that after the first 100, if that doesn't give you EXPERTISE, to go look at 100 more. TRUST ME, after 100 you'll be an expert. By 200 you'll be able to write books on the target area.

These sites people are suggesting, trulia, zillow, realtor, are HORRIBLE. I'm not going to beat around the bush. The same house on all 3 sites could vary by as much as 50% either way, for a total gap of 100% from lowest to highest.

Realistically speaking, a house finished in industrial carpet, plywood and plastic fixtures, is not going to sell the same as a house of the same exact dimensions, finished in marble, plush carpet, and wall paper. Looking at a site isn't going to tell you that. That's why you need your own expertise.

If you take your business seriously, you may go so far as to hire experts to walk through a few houses with you and pay them for their time, like appraisers, inspectors, etc.

Hard Money VA Loan Rehab ... Oh My?

So this would be my first deal. Meaning I would be the one signing papers and taking control of the property, not handing it over to someone else.

So my good friend is in the market for a house. I recommended he get a MFD, so he could make money continuously. So we went looking and found 4 quads.

I'm trying to wrack my brain how to do the deal.

Another investor said to make the deal at arms lenght, i.e. buy the home, then sell to VA. Friend is a vet and can get a VA loan.

I didn't understand quite how to do it though. Here's my thinking:

1. buy the quad with Hard Money
2. if the building needs rehabbing hire someone to do that for me
3. after VA inspection sell to my friend?
4. settle hard money loan

But, would I be taken to the cleaners going this way? I just don't know how to do it. I know private investors are supposed to have all sorts of options at their fingertips, but I don't have a lot of experience, nor know a lot of options.

I originally saw this article on Yahoo news. It was soooooo outrageous on there. The writer was calling Kiyosaki names and just complete unprofessionalism.

I was moved to do some research. After spending a couple of hours reading about it and the court documents, I came away with some startling conclusions.

This case seems less about a debt owed, which seemed to have actually been payed by Rich Global, and more about a vendetta against Robert himself, since he dropped Learning Annex Co. as partner.

They were quoted as saying nasty things like, "we knew him when he was speaking at Holiday Inns in front of 20 people."

The agreement in question was that they would foot the bill to get him bigger crowds, brand him, and market his seminars, in exchange for a cut of the profits. He did. But 6 years ago, he dropped them, and abandoned the company. And, they are mad, because now he's selling out arenas and has a full line of videos, books, partnerships with Oprah, Trump, etc.

Of course the media is trying to paint it like, he personally is bankrupt, and all his companies are bankrupt.

They're just trying to sell papers, but come on .... blatant lies about the guy? The yahoo article said he taught people how to evade taxes, evict people out of their houses, and kill babies. I read rich dad poor dad, I don't remember that chapter.

What should i do: my possible first purchase for myself

So I've been renting all this time. Taking the advice of people on here, I went and got a job, to have some throwing around money for real estate. while I've been doing research for all these other people, I have not done any for myself, so I find myself in a bit of a jam:

My roommate's lease expires today. While I hate living in this apartment, it is also the cheapest place in all of Las Vegas. [rent wise]
I want to purchase a house for myself, and leave room for a renter. I would bring my roommate, who's a filthy, lazy slob, along with me, because he does pay rent and bills, and if all else fails, his parents will, even at the age of 41 years old.
However, that being said, I cannot beat $250.00 in rent.
There is a super cheap condo around the corner, but I would have a condo with all the fees to deal with, and in the end, be left with a condo as rental property. but, given my living situation, it would be better than staying here.

I welcome any and all suggestions.