A few questions to get me started!!! - Posted by Min

Real Estate Investing
#1

Posted by Jim on February 21, 2001 at 12:39:16:

Hi Min!

Having your husband as a Notary for documents you sign is not advisable. You guys have the same last name I presume, and when getting documents notarized a family member should not be used. (Conflict of Interest basically). Some will tell you it’s ok but, personally, I’d just go down to a local car lot or something to get this done to be safe.

Advertise “EVERYWHERE”!!! I don’t care if a lot of investors are currently advertising or not. Anyplace there are houses are great areas to advertise. People that have houses need to sell regardless of where they live! (Now I’m not saying to buy houses that are built in extremely remote areas where nobody wants to live, but basically anywhere is fine)

Yes, for your first deal or first few I would recommend the use of a good real estate attorney to make sure your docs are in line with your state and local laws, but after that, you’ll feel comfortable doing it yourself!!

Hope this helps and best of success to you Min

Jim

#2

A few questions to get me started!!! - Posted by Min

Posted by Min on February 21, 2001 at 11:15:44:

Hi there everybody! Thanks to anyone that can help with these questions.
A. Would it be beneficial or necessary to have my partner/husband notarized so that he can come along on the deals that are in need of being notarized? If so, how much does it cost to become a notary?
B. I’m getting ready to start advertising, but don’t know where all the “good” real estate investing areas are. We’re looking at doing direct advertising other than just classified ads. When distributing fliers & bandits signs would you recommend that I put them in areas where other investors have their newspaper classified ads so that I know that we’re atleast in good investing areas? Not trying to copy off someone elses success, just trying to increase our chance of making this work.
C. Would you recommend that we call our local REIA to find out a name of a qualified RE attorney that is familiar with subject to & lease option deals, & to make sure that we have all the contract necessary?(looking for some hand holding for the first few deals)
Thanks everyone for your help!

#3

Re: A few questions to get me started!!! - Posted by JasonTX

Posted by JasonTX on February 21, 2001 at 15:40:07:

I just want to reiterate that you do not want to use your husband as a Notary.

Imagine sitting in court and telling the judge, “All of this paperwork was notarized.” Then the judge asks who the Notary was and you say “My husband”. All credibility is gone at that point.

IMHO