16 July 2014 | 4 replies
Here's what I'm thinking: 1) Find a buyer (already have someone interested) and complete an assignment contract and have them give us a deposit - making sure they have sufficient POF. 2) Ask escrow to add the new buyer to the contract. 3) Have the new buyer wire the funds to close escrow. 4) Record a grant deed from our company to the new buyer in exchange for the balance of the assignment fee.
29 July 2014 | 15 replies
Part of that is due to the fact that in Kansas, at least, sale prices don't have to be disclosed in public records.
16 July 2014 | 3 replies
Public records.
2 December 2015 | 13 replies
We've recorded all our interviews, and those are also on the website.Feel free to reach out anytime to ask questions.Hope that transition back to Korea goes well for you!
17 July 2014 | 4 replies
At a certain point you can start getting commercial loans against your LLC - but you must have a solid track record and then you can refi everything commercial into your LLC - But the loan terms are less favorable
17 July 2014 | 5 replies
Can we go to county record office to look up by ourselves?
24 July 2014 | 10 replies
Keep accurate records and then you can show these to new lenders.Even with the loans you will want to have an attorney prepare the documents.
17 July 2014 | 2 replies
The records are all public record but your end buyer will most likely want a report from a certified title examiner (and 3rd party) for their own security.
11 September 2014 | 2 replies
However, you can watch a recording of it here: http://get.biggerpockets.com/bpwebinar :)
19 July 2014 | 18 replies
@John Montgomery Congrats on getting close to negotiating your first deal...I would say the most important thing is to "know your objective"...There are a lot of great answers on this thread, but ultimately we are all making "shots in the dark" as to the best option for you because it's our perspective...This is still valuable, but can become very confusing because you don't know each person's perspective...MY Suggestion is to know your goal over the next 3-5 years...I will let you know a little about my perspective...I am a Rehabber and Have Been Buying and Rehabbing over the past 8 years here in Chicago...I've been in your shoes...I wanted to be the Big Shot and rehab deals straight out the gate(Little to No Money & No Experience but a few REI Boot Camps- basically No Experience)...To say I've had a lot of Failures during my 14 years of being involved in studying REI is an Understatement...If I was starting all over again, and my objective is to be able to build a robust REI Biz that can allow me to rehab 6-12 homes a year, wholesale 2-3 properties per month, and build a rental portfolio...I would first focus on getting good at one objective first...Generally most people start out wholesaling because it doesn't require the money or experience rehabbing or landlording requires...I would start with Wholesaling...go find 5-10 very good rehabbers and find out their Criteria for a Great Deal...Commit to building Value for them and ultimately a great relationship.With this you will already have buyers lined up, you know what areas to look for properties in, and you can research public record and see what they are paying for properties on the acquisition(and also ask them, but keep them honest by researching public record)...At this point become the best wholesaler to these rehabbers...you will learn a lot just in this process alone...How to evaluate Comps, Repair Values, Neighborhoods, etc...Which a great wholesaler will know how to do...It will make your deals easier to sell...Ultimately I would see which one of these Rehabber will be open to the idea of partnering/mentoring me on how to get into that arena...They may even allow you to follow the progress of their deals...Every deal has its surprises and over the course of 10-20 deals you will get a real life idea of what those surprises are, and even understand the "reason why" you calculate certain contingencies into deals and also what are the most costly mistakes or repairs to look for and avoid on deals...The value of this Experience will accelerate your learning curve...In my experience one mistake for a beginner can cost you a ton of money and even put you out of the rehab business.There is no way you can learn all the mistakes you must avoid by reading a book or taking a 3-day training program.