Forum: Real Estate Law Forum
Today, 12:15 PM
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Replies: 1
Views: 282
Check your state's law
Super easy to find & read your state's statutes onine, find Excise Tax and read that section.
Of course too it's quite simple to find that place/office where ETs are paid and drop in and chat with...
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Forum: Real Estate Investing Forum
05-13-2013, 08:16 AM
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Replies: 2
Views: 38
If not your residence
Taking your question step-by-step you'd need to first transfer your IRA $ to a self-directed trustee IRA co.*, then direct that trustee to buy the units of an LLC which you've started.
That LLC...
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Forum: Real Estate Law Forum
05-09-2013, 10:52 AM
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Replies: 2
Views: 17
CH 7 seems called-for
Not sure where you ended up w your Ch 13 but asap file a 7 and get rid of that old oppressive debt.
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Forum: Real Estate Financing Forum
05-05-2013, 07:32 AM
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Replies: 2
Views: 170
Up to Lender, right?
Hey look at it like this...if YOU make a RE loan do you think it'd be right or fair for your selected, credit screened (you do don't you?)borrower to be arbitrarily replaced and substituted with some...
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Forum: Real Estate Law Forum
04-29-2013, 10:39 AM
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Replies: 5
Views: 775
DF updates quickly available
Took me about half a minute to find a DF update site so if you're that concerned about DF find it and sign up.
I learned early-on this is a consumer issue hot potato in virtually all states and...
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Forum: Real Estate Financing Forum
04-27-2013, 09:22 PM
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Replies: 5
Views: 431
BK records open to all
Will has an interesting idea here...check your local BK filings and follow-up on those folks right AFTER they get final BK Discharge...then they're free to contract again. Usually a few weeks...
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Forum: Real Estate Investing Forum
04-22-2013, 09:53 AM
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Replies: 1
Views: 88
Might go a little slow here
I know of several early-on investors who got a rough initiation into rental management because of their lack of know-how.
So before you buy I'd recommend you do some studying on how to...
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Forum: Commercial Real Estate Forum
04-18-2013, 02:55 PM
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Replies: 2
Views: 122
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Forum: Real Estate Law Forum
04-18-2013, 02:51 PM
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Replies: 3
Views: 123
Is her BK done?
She has no right to do anything with her prop until there's a final judgment in her BK case...so check the BK records on www.pacer.gov to learn status of that BK.
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Forum: Real Estate Investing Forum
04-18-2013, 02:47 PM
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Replies: 5
Views: 239
Take deed then rent it!
If you can locate the deed owner offer him $50 or so to give you a deed, then rent the house as long as possible.
Maybe the bank will simply overlook and never foreclose.
Before doing anything...
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Forum: Real Estate Law Forum
04-17-2013, 09:45 AM
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Replies: 3
Views: 123
A little confused here
If you buy the 2d then who's left to complain?
In my experience as a foreclosure trustee the other liens must be considered and dealt with or you'll hear from them later with some nasty claims...
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Forum: Real Estate Investing Forum
04-15-2013, 05:04 PM
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Replies: 8
Views: 356
Ditto Ray!
Lonnie was an all-time great in the REI world and was a terrific inspiration to all who knew him and read his works.
L & I'd have a chat at the CRE conventions and he was always the consummate...
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Forum: Real Estate Law Forum
04-14-2013, 02:26 PM
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Replies: 1
Views: 151
Another approach
A tactic I've seen deployed by a number of REI greats is to have your lease agreement require that any loans currently or henceforth on your home be paid by YOU, directly w/o going to owner...and...
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Forum: Real Estate Law Forum
04-08-2013, 04:08 PM
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Replies: 2
Views: 489
Get appt take ample cash
What you want is certainly available IF you're ready & willing to pay what a "by my shoulder" capable lawyer needs to charge...and my guess is $2500 or so upfront would certainly be a nice retainer...
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Forum: Real Estate Investing Forum
04-08-2013, 08:03 AM
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Replies: 1
Views: 181
Onus on Debtor
When (If?) debtor pays his balloon he'll (if on the ball) will want the payee (you or "family") to sign his release form that he has prepared or had his atty do for him.
So nothing really for you...
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Forum: Real Estate Financing Forum
03-22-2013, 09:43 AM
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Replies: 3
Views: 326
Refi of other props likely simple
Likely a number of comm'l loan brokers could easily find a good refi loan for you on the income props and if you have trouble locating such let me know and I'll help you.
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Forum: Real Estate Law Forum
03-22-2013, 09:37 AM
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Replies: 2
Views: 213
"PA RE Commission is next step"
Your RE Commission would sure take a dim view of your Broker's actions as he has a high standard he has to live up to and follow, particularly in regard to dealing with his agents.
So here's what...
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Forum: Real Estate Investing Forum
03-16-2013, 12:44 PM
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Replies: 4
Views: 477
Path to profit
It is a good problem to have as solving it, or attempting to will teach you a lot.
Suggest you make a short list of possible funders and take the props to funders one @ a time and see if you can...
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Forum: Real Estate Law Forum
02-27-2013, 07:57 PM
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Replies: 1
Views: 444
OK lawyer not likely
Candidly no lawyer I know would be interested unless you're a big net-worth potential client that he might gain by fooling with this.
Suggest you find and read a DIY book on trusts and how to use...
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Forum: Real Estate Investing Forum
02-22-2013, 02:22 PM
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Replies: 7
Views: 554
You could QC the Washington Monument
For April Fool's I used to QC a famous RE site if I happened to have spare blank QC deed on hand.
As has been said, all a QCD does is grant the giver's interest in the property to a beneficiary,...
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Forum: Real Estate Financing Forum
02-18-2013, 07:22 PM
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Replies: 1
Views: 525
Transactional funding
I've placed several "transactional loans" but sounds like your idea of what a TF loan is and how it works is not same as mine.
The TF loans I've made all had the money going into escrow & never...
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Forum: Commercial Real Estate Forum
02-16-2013, 10:43 PM
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Replies: 5
Views: 718
Read your mortgage/deed of trust?
In the fast and loose REI market we've had the last several years people seem to have forgotten that their mortgage or deed of trust most likely gives the lender the option to foreclose if you...
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Forum: Real Estate Financing Forum
02-14-2013, 10:26 PM
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Replies: 1
Views: 568
"get them performing" highly unlikely
Every lawyer who has much business practice would tell you he/she has a number of old uncollectible notes in his file cabinets and he/she'd probably sell you the whole collection for pennies.
You...
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Forum: Real Estate Law Forum
02-03-2013, 02:29 PM
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Replies: 4
Views: 700
Look hard BEFORE renting
Through lots of LL/T deals-gone-awry I long ago learned to look very hard at prospective tenants before ever letting them into the property.
I make them give me their credit reports (free to...
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Forum: Real Estate Law Forum
02-02-2013, 12:51 PM
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Replies: 1
Views: 547
Simple is best so LLC my choice
LLCs were created for simplicity's sake and with their easy set-up and structure they're hard to beat.
But I'd very much recommend that you hire a biz lawyer to set it up for you and draft the...
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