[Rick Casselberry]

Rick Casselberry

from Orlando CFRI facebook Rick Rentas
·
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[Rick Casselberry]

Rick Casselberry

I like it
may be record the option & lease before the deed and maybe to a different entity

[Rick Casselberry]

Rick Casselberry

I assume you have the deed from the seller already.
so when the loan is paid off the bank will issue a satisfaction or release of mortgage to the original borrower, which is just the same if the seller is alive. in FL the bank also handles recording of the satisfaction.
I think you should be alright.
the poa expires when the person dies but there might be some documents dated prior to death hiding in some drawer jack miller style waiting to be found if you ever needed them. if you reeaally need them look harder!

[Rick Casselberry]

Rick Casselberry

if the state is like FL there might be homestead exemption for all or part of the personal residence including proceeds of sale. keeping it outside the bankruptcy.

[Rick Casselberry]

Rick Casselberry

maybe im wrong but the law sounds like it may be aimed at a different target

one where a seller puts language in deed restrictions that says every time the property is assigned, transfered, sold, etc. that the ‘entity’ or person would collect a transfer fee for the priveledge

[Rick Casselberry]

Rick Casselberry

that log in every time bothers me too
especially with the ‘tease’ remember me

[Rick Casselberry]

Rick Casselberry

im in florida

[Rick Casselberry]

Rick Casselberry

only if you want it that way

land trust is invisible for income tax purposes

[Rick Casselberry]

Rick Casselberry

well
i guess you could let those formers have options on the new house to ‘secure their interests’
then the new guy can purchase those options from the formers at closing

[Rick Casselberry]

Rick Casselberry

consider ‘retired’ semi trailers.

[Rick Casselberry]

Rick Casselberry

How do you value life, future, or remainder estates, either for real life payments or for values to put on recording docs, stamps, etc.?

[Rick Casselberry]

Rick Casselberry

I am considering going in with an associate to purchase an old mobile home on land from an estate. ( maybe 25-30 K ) He supposedly has the unwritten first option. If we go 50-50, what is best way to maybe let him buy it, in his name, and I hold a option for half of the net proceeds when sold and/or half the net rent collected? How would I go about ‘securing’ my option with a mortgage as you talk about sometimes?

If I tried to establish a roth IRA or other retirement account to lend the money and/or hold the opytion and mortgage don’t know if it whould be worth the fees and I might be prohibited from assisting in the management?

[Rick Casselberry]

Rick Casselberry

Rick Casselberry. We have several rentals here in my Central Florida hometown. Modest single family homes, duplexes, small apartments, mobile homes, mobile home lots, small MHP, etc. Also some vacant lots, some with potential, some without much. We like tax certificates but newcomers bid to near zero; and tax deeds but newcomers bid too high. We like billboards, timeshares too.
A professional civil engineer in an earlier life.
I have edured many a seminar and am not so active in a couple RE investor groups here.
[email protected]