All Forum Posts by: Tom Gimer

@Jerryll Noorden You quoted me accurately but you misunderstood what I meant. It's not about closing online, it's about using technology to share information necessary to get the file to the closing table.

Our closing software gathers non-public personal information (SSN, banking, loan and other financial info) from sellers in a secure manner. You need to be able to use email, complete forms, upload files. In other words, sellers need to be able to complete lead forms similar to the ones your sites gather. If a seller can only use snail mail, fax or phone to attempt to provide the information required... well I've said it already. I'd say 25%+ of our investor deals in Baltimore City involve this type of seller.

@Jerryll Noorden That is a national estimate.

We deal with some of the most active wholesalers / investors in this city and others and the most successful ones are not using the internet to find sellers... they are using the telephone.

You're leaving a lot of meat on the bone relying only upon the internet to find sellers in some markets.

Born in VA, raised in MD, live in DC... I feel like that has to be rare.

Happy to connect with investors in the DMV and beyond.

@Jerryll Noorden A certain percentage of our Baltimore sellers either

-don't use email

-don't have a computer

-don't speak English

If they cannot log in to our closing platform to upload sensitive documents/information to help us clear title, they aren't searching Google. Does that mean nobody in Baltimore uses the internet to search? Of course not. But some sellers do not and therefore old school methods are the only ones that will possibly work to reach them.

This is poor advice. Yes, the court can decide if the parties cannot come to an agreement.

The lease is marital property like anything else acquired during the marriage. The court can distribute the lease rights to one party or the other based upon a number of factors. Let's say there are kids involved and the wife will keep physical custody of them. Remaining in the same property, continuing in the same school, etc. could be factors. This is just an example, there are many.

@Jerryll Noorden I generally agree with your posts but in some markets SEO just isn't going to work. One of our largest investor markets is Baltimore City and I can assure you if the sellers do not or cannot use the internet to complete the closing process they definitely are not using it to try to find buyers.

In some markets old school paper, phone calls, bandit signs, etc. are still the only way to get leads as well as deals closed.

Too much law to learn.

@Don Konipol raised some issues but many of them don’t apply where I do business, where probate is often unsupervised and the PR / Executor is free to make stupid decisions. 

Focus on a jurisdiction or two (preferably where the fiduciary can make bad decisions without review) and master them. 

I don’t doubt that occurred but a loan officer cannot make that decision and bind the lender with an email. The loan can still be accelerated. 

The first domino will fall when 1 brave subto community member comes forward and describes their transaction that went t*ts up, tenant stopped paying, seller filed BK, property was lost, lawsuits commenced, everybody lost everything and the local AG got involved.

But hey it’s such a giving community.

Lease option works to avoid DOS but it certainly doesn't work as a good alternative to sub-to. The whole point of sub-to is to obtain title for next to nothing with a great rate while avoiding most closing costs.

Pay a premium for an option to keep the seller in title, risk title problems by doing so and then exercise the option just to pay full closing costs with a new crappy rate. Yay!