All Forum Posts by: Wayne Warren

Megan,  That's what I'd heard so I am going to press ahead.  Thank you so much.  I was able to verify that Kensington Vanguard does do Subject To contracts.  You gave me hope and that's what I needed.  Thanks again!!

I have heard that in executing a "Subject To" contract, the Title Company must send the Lender a "7 day notice" that notifies them that a change in ownership has happened and that they can exercise their "due on sale" clause.  Does anyone have experience with this and how likely is the Lender to exercise the "due on sale" clause?

I can't tell all of you who responded how much I deeply appreciate your input.  I pray it will get me out of a jam.  I will let you know.  Again, thanks to all!!!  Have a wonderful, safe day!!

Looking for title company used to closing "Subject to" contracts in McKinney, Frisco, Dallas area and thru them find an attorney.

I am looking for a referral to a quality webscraping firm for North Texas.  Anyone know of one?

Thanks everybody!

On the limit that HUD places on the number of deals you can do as an individual: is it 10 transactions or 10 units? If it is 10 units and I buy multi-family then 10 units gets eaten up pretty quick. Thanks for the help.

I am beginning to think I should go all-cash on rentals and do a BRRR where HUD pays me back 75% LTV. From what I'm reading, Personal LOC seems to hit your personal credit rating rather badly and Business LOC can't be used because HUD will not deal with businesses. Anyone care to comment? Am I wrong in my thinking? With zero dollars in it, after being paid back, my CoC ROI is huge because of a $0 base.

Can anyone name a reputable short-term lender that will loan to a flipper?  Their interest rate must be astronomical.

Dennis,

Could you explain how you "hold the note?"  Thanks.

Lucia, I'm in McKinney.  Curious about what your buy strategy was on the $325K - cash, 3.5%?  How high do you think it is safe to go on a rental?  Obviously $200K is okay but do you think the market will allow you to go higher?