We have decided to purchase an investment property & be co-owners with my boyfriend so we can split the profits upon selling it after 1yr. What legal steps do I need to take to ensure my interests are protected? The mortgage will be under my name. The plan is for him to lease the property for 1 year & make monthly payments that will cover the mortgage. I will continue to rent. We will both contribute equally towards upgrades needed for the house to sell after 1 year. How should he be listed on the title? should the interest be 50/50? What additional legal documentation would be needed incase we decide to split. I realize as the loan will be under my name I will be solely responsible. How can I ensure I can sell the property if I need to if he ceases to rent & I decide not to move in to the property, can I remove his name from the title? How would I need to set this up to begin with to allow for such flexibility. I haven’t closed the deal as yet but will be doing so soon.
What can I do if an individual won’t release a paid in full mortgage on my property?
We own an investment property. We obtained a loan from an individual 5 years ago to start our own business in which the individual used our investment property as collateral and filed a 2nd mortgage on it. We paid the 2nd mortgage off in full 9 months after obtaining the loan, and the individual refuses to file the release of mortgage, there are no other penalties owed to him etc. He is also the landlord on the commercial space we rent for our business, and he likes having the mortgage lien on the investment property as insurance he will get his rent every month. Rediculous! We are now trying to sell the investment property and he has caused us to lose one buyer because of the title issue, by some miracle we have another buyer, does anyone have any creative ideas other than a lawsuit in civil court? This guy is not a brainiac, but he does have a decent lawyer, everything he owns is in a trust and the mortgage was funded out of that trust. There just has to be a way to force this guy to do the right thing and stop using these mafia tactics to push us around. Help!
walk away sites, we buy houses investors… do they buy up side down houses?
I was researching about investors buying houses and found several walkawayhappy or walkawaynow.com sites. Do these we buy houses folks buy up side down houses? Would they buy for what I owe on the loan? Due to high mortage we want to sell the house but can’t sell for what we owe. Thinking of ideas to get from underneath… FYI, I’m in FL.
What would be a decent interest rate on a 30 yr mortgage loan for 200K, with 200k down payment?
Credit score is excellent. Investment property. I don’t know how to judge whether my broker is getting me a good deal or not.
The loan is for 200K, the down payment is 200k….the house is 400K.
How much can I write off on a bad real estate investment?
A couple of years ago I invested 50k into a bad real estate investment. The person heading up this llc actually committed fraud and was sentenced to 10 years in prison. I am looking to write off this investment for the year 2008 and have had conflicting reports on what I can write off. Does anyone know what you can write off on a bad real estate investment?
Can a Small Business loan be used to purchase investment properties?
I’m entertaining the idea of using a small business loan to purchase investment properties for rental income and to renovate certain properties for resale down the road. Anybody have any opinions on this or know anything about it? Is this even allowed? What other options would I have?
Thanks!
How do you make money online for free, or with no investment?
I’m interested in ways to make money. I don’t have a lot of money, but all advice is welcome. Real estate, cpa, ppi, ecommerce, or any other methods. Thanks.
How does someone buy invest real estate under a company?
If I were to start an LLC, how do I go about buying investment properties through the company? What are the advantages of investing through a business rather than individually?
If I foreclose on Primary and investment properties, could the banks come after me for the deficiency amount?
My primary residence currently worth $300K, and the original loan on the house was $585K (first for $60K and second for $120K). The purchase price for the property was $585K
I also own an investment property which is currently worth $225K. The loan on the house is $280K (only first loan). The purchase price for this property was $285K
Now, what I did was I took a second home equity loan of 60K from the investment property and put it towards the second loan of the first property (by refinancing into a lower interest loan). This is how the equation looks like now:
Primary residence
Current value:$300K
Loan 1:$460K (Interest only – 5/1 arm to expire in 2 yrs);This is the original loan
Loan 2: $60K (30 yr fixed P+I); (Refinanced loan)
Investment property
Current value:$215K
Loan 1:$280K (Interest only – 5/1 arm to expire in 2 yrs);
Home equity Loan 2:$60K (15 yr fixed P+I);
I cannot afford to hold on to the properties.
My question is, if I foreclose on both properties, what are the consequences. Can the lenders come after me for the deficiency amount. I tried to short sale for last 6 months, with no success.
I live in southern california
Can I get an FHA loan on a home that has tenants?
I am interested in purchasing a short sale that has tenants in place through May 2011. My intention is to occupy the home as soon as their lease is up, but I was told by my mortgage broker that the only way to purchase this home would be as an investment property (with minimum 20% down!!!). Is there any way to get an FHA loan on the home?
How can I buy an investment property?
I just bought a home with the VA. I want to buy another property a year from now. Can I use an FHA loan to buy it and rent out my VA property?
Investment Legends: The Wisdom that Leads to Wealth
- ISBN13: 9780731408375
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Buy Cheap Investment Legends: The Wisdom that Leads to Wealth
Who will finance an investment property with stated income and 708 fico score???
need 100% financing….
100% financing – lowest rate possible!!
