All Forum Posts by: Vinh Nguyen

Hi, 

My friend is in the process of buying a house through a wholesaler. The seller wants to sell it for $50k but has requested to put it down on paper for $5k, so he can pay less tax; the remaining $45k would just be given under the table. Are there any legal ramifications to putting it down for $5k on paper? 

He is aware his capital gains tax will be higher when he ends up fixing and selling the property in the future. 

@Wayne Brooks

Hi, Im sorry. there were a few typos in your response so I am unsure on what to do. 

Are you suggesting I contact a title company first? 

Do I need a lawyer or can I just use like an IOU template online. Please help! 

My friend wants to borrow money from me. He said I can use his house as collateral if he can't pay me back. How would I go about starting this process? Do I need to hire a lawyer? the title company? How would I do my due diligence to make sure he has equity in it? 

How would I put lien on his property in case he decides to sell it in the future? I am just thinking of all possibilities. Thank you!! 

Hello, 

I just received a fine of $50 from the city of Phila on my rental property. The ticket stated “Your trash is not authorized for collection.” Any idea what that means? 
trash day was Tuesday and the ticket was written that morning at 7:45am. 
thank you!

@Kim Meredith Hampton

Hi, if the estoppel is done after the acceptance of agreement of sale, doesn’t it seem too little too late since you can’t back out of the deal if the seller or tenant refuses to fill it out?

@Mike McCarthy

Hi, is the estoppel signed or filled out before or after acceptance of agreement of sale? I would assume before?

Hi BP,

I just did a cash out refinance on my property that is supposedly worth $350k (waiting for appraisal inspection next week). I’m expected to get about $210k with 4.5% interest (no points) for investment purposes. I own 100% of the property.

My question to you guys is what are the pros and cons of private lending vs cash out refinance.

With the deal that I’m getting, how good is it when compared to private lending? TIA!

Hi BP,

I’m looking to start investing in Sarasota. I went to dental school here in 2019 and loved the area. I’m looking for good excuses to go back and figured investing there would be a good motivator. Please advise.

@Bill B. @Bruce Lynn Thank you so much!

@Eric James @Frank Chin Thank you so much!