Bill Cook
Active 15 hours, 58 minutes agoForum Replies Created
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Andrew,
You’ll probably being going in to the Deeds Records room – at least this is what it’s called in Georgia.
Kim and I learned how to do title searches by hiring deed dogs (this is what folks who do title look ups are called in Georgia) to teach us how to do title searches. The deed dogs do NOT work for the county. Most are private contractors who work for law firms.
Hope this helps.
Bill
PS Begin by looking up your house in the deeds room. Then your friends houses. then your neighbors’ houses.
Pete,
It will be difficult to sell your 1/3 interest because your siblings own the other 2/3s, which means the person you sell your 1/3 interest to will have no control over decision making because your siblings can easily override him/her.
You overcome this difficulty by selling your interest at a discount. Sometimes greed overcomes concern.
Have you approached your siblings about buying out your interest?
You’re welcome to call me about this. Once I find out more, I may be able to link you up with a buyer.
Hope this helps.
Bill Cook
Mornin’ Larry,
Dyches will most certainly be missed. Yes, Dorsie will keep Assets101.com bookstore open.
When you say, “kinda lookin for a bit more experience in trusts,” do you mean for you or in the teacher teaching trust?
If it’s that latter, do a look up of “Trusts” on this site. Jack did a lot of crazy stuff with trusts. Also, seek great probate and asset attorneys for their thoughts on trusts. I’m sure there are high end classes for attorneys.
Bill Cook
Garrett,
One way is to do a Performance Master Lease. Let’s say the owner’s trailer payment is $800. Lot rent is $500/month. It will rent for $1000/ month.
As a landlord, let’s say you want to make $200 per house to handle an owner’s problem property. You rent the trailer from the owner for $300/month. You agree to pay the $500/month lot rent. This means you are paying $800/month. You rent trailer to your tenant for $1000 and pocket the $200/month spread. You make it a PERFORMANCE Master Lease which means you pay YOUR landlord $300 and lot rent $500 ONLY AFTER your tenant pays you.
Another way is to call the lender to see if they’ll accept a discounted payoff, or that they’ll modify the note to a much lower balance with much better terms and allow you to assume or take subject to.
Hope this helps.
Bill Cook
Conor,
You are most welcome to post a need.
A good place to find hard money lenders who loan your needed amount is at Exchangers meetings.
In my area of Florida, there are two Exchanger meetings I regularly attend: St. Pete and Sarasota. I’m sure there are similar meetings near you.
Being that your borrower is wanting to use land as collateral, it will be a more difficult sell, but it can still be done.
Hope this helps.
Bill Cook
Conor,
You are most welcome to post a need.
A good place to find hard money lenders who loan your needed amount is at Exchangers meetings.
In my area of Florida, there are two Exchanger meetings I regularly attend: St. Pete and Sarasota. I’m sure there are similar meetings near you.
Being that your borrower is wanting to use land as collateral, it will be a more difficult sell, but it can still be done.
Hope this helps.
Bill Cook
