All Forum Posts by: Scott Wolf
Scott Wolf has started 43 posts and replied 1796 times.
Post: Looking for solid title company?
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@Scott Weigel, who does the seller want you to use?
Post: Error with a deed from the title company
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@Christian Lopez, this shouldn't be a big issue for the title company to fix. Just reach out to your usual contact and they should take care of it for you.
Post: 1031, 2nd Lien, and Seller Carrying the 1st Mortgage
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@Andrew R., I'm probably missing a ton of information, but this doesn't make sense.
1) If you put a lien on the property and don't take title, then you're not actually buying the property.
1a) I'm not sure how a 2nd position lien puts you in a better position according to the title company.
2) The entire net proceeds of the sale should be with your qualified intermediary, not just what you think is the capital gains. (this may be the case, but based on your post, it's unclear.)
3) This is not an "arm's length" transaction and will be under further scrutiny of the IRS. Something to be aware of since you are related to the seller.
Post: How to find Diverse funding options?
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
Originally posted by @Khadijah Oliver:
Hey Everyone, I'm new to investing. My partner and I have completed a few projects so far. Our biggest challenge is finding funding for Buy & Holds or Fix & Flips. We've worked with a hard money lender for a few deals but with a minimum loan amount of $75k we've had to pass on few options. Any suggestions or private lenders out there? Thanks.
Khadijah, what price point are you looking for? And are they in Florida? I may have someone that can assist you. Shoot me an email(in my signature) and we can set up a time to talk about your needs.
Post: Investor Friendly Attorneys /Title Company
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@Quincy Baker, if by "investor friendly" you mean someone familiar with wholesale/contract assignments, then yes you need a competent title company as well. That being said, a NY attorney who knows how to handle those types of deals will usually have a title company behind him/her that understands the drill as well.
Post: Looking for a Sponsoring broker in New York State
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@Account Closed, are you looking to be a real estate agent or a mortgage broker? If you're looking to be a RE Agent, there is no National Sales Person Exam that I know of. I know a few RE agents, & mortgage brokers. Feel free to shoot me an email or give a call if you need further guidance.
Post: Recommended NY Mortgage Refinance Contact
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@John Bocelli, shoot me an email with some details, and I can connect you with a mortgage broker I work with.
Post: PLEASE HELP BRRRR - Cant Get Cash Out Refi
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@John Bucci, I can connect you with a mortgage broker I work with if you'd like. Shoot me an email (address in my signature), with some details, and I can connect you guys.
Post: NY - MLO and Realtor Needed
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@Jorge Medina for a personal residence, or investment? My email is in my signature if you'd like to connect.
Post: Hard Money Always Wins
- Lender
- Boca Raton, FL
- Posts 1,916
- Votes 932
@Matthew Crivelli, let us all know how it goes with @Account Closed.