In a pickle, need some pros for some advice. - Posted by MBL

Re: Let me get this straight… - Posted by MBL

Posted by MBL on July 04, 2004 at 17:14:44:


I am also trying to get a J.O.B. But in the meantime I am trying to help my little brother out as well and finish these deals. I have sent out multiple resumes but that’s beside the point. I appreciate your advice no matter how it’s delivered.

you betray your ignorance - Posted by bpntx

Posted by bpntx on July 03, 2004 at 23:23:54:

it is, in fact very difficult to get a lender (even with good credit) who is ‘stuck in the box’ to loan you under approx $50k against a house, the amount which becomes difficult to borrow varies by lender. on the other hand, it can be difficult to get an unsecured loan when you can’t verify employment.

Unique situation - Posted by B.L.Renfrow

Posted by B.L.Renfrow on July 04, 2004 at 10:50:10:

You make a valid point, about having necessary reserves. If you read my (non-anonymous) posts on subject to deals, you know it’s an issue I raise repeatedly.

However, I didn’t mention it in this case because this situation is a bit different than most. The original poster said his brother is the one being foreclosed on. Plus, the poster is occupying the property, so he stands to be personally affected if the foreclosure is completed. It sounded as if the foreclosure process was nearly completed also – not the typical deal where a stranger calls up an investor based on an ad or mailing, maybe a couple payments behind, and the investor proposes subject-to as a solution.

I think this poster’s situation may call for a more aggressive approach than most, and if that means taking more risk, it may be worth it. Of course, only the poster involved can ultimately make that decision.

Since the one being foreclosed on is a family member, one would hope he would be less likely to run to a lawyer if something goes wrong, though that may or may not be a reasonable assumption.

Again, a valid point, but I think one may be justified in not following the formula to the letter in this case, since this is not purely an “investing” scenario.

Brian (NY)

Re: A multiple repsonse - Posted by MBL

Posted by MBL on July 04, 2004 at 24:07:48:

Regarding the reserve fund.

As I said I placed an add for this property in the paper before, and I generated multiple responses. From my calculations I can generate enough to get the property out of danger, and have a bit in reserve in case the buyer decides to provide a ‘glitch’ in payments. But I do see your point, and I suppose I would have to be firm with the 10% down payment.

I’m not trying to start a flame battle or anything, just looking for advice. The 300k comment was a broad statement, what I meant was that it’s easier for me to qualify for a mortgage than let’s say a loan from Wells Fargo.

Re: you betray your ignorance - Posted by Chuck Rosenberg

Posted by Chuck Rosenberg on September 05, 2005 at 04:30:39:

wine racking systems wine rack design wine dispensing home wine racks commercial retail wine racks residential wine cellars wine vault wine making barrel basket wine press restaurant wine cellar

Re: you betray your ignorance - Posted by jeremy

Posted by jeremy on July 03, 2004 at 23:39:08:

Do you own a car outright? I havwe done that several times. Taken a loan out on my car for 6 months in order to fund a deal. Once I did end up walking for 2 months because my RE deal fell through. But that is the name of the game

Re: Unique situation - Posted by Doreen Austin

Posted by Doreen Austin on November 19, 2004 at 05:32:45:

Remember, Grasshopper, falling down 1000 stairs begins by tripping over
the first one.
– Confusion
generic viagra cheap generic viagraThings will get better despite our efforts to improve them.
– Will Rogers
buy generic viagra order generic viagra online"The student in question is performing minimally for his peer group and
is an emerging underachiever."

Re: Unique situation - Posted by Jessica Prettyshield

Posted by Jessica Prettyshield on November 15, 2004 at 16:26:45:

BYTE editors are people who separate the wheat from the chaff, and then
carefully print the chaff.
levitra cheap levitra"Now, by the way, surplus means a little money left over, otherwise it
wouldn’t be called a surplus."

George W. Bush
October 27, 2000
From a campaign speech in Kalamazoo, Michigan.
buy levitra order levitra onlineIf women are supposed to be less rational and more emotional at the
beginning of our menstrual cycle, when the female hormone is at its
lowest level, then why isn’t it logical to say that in those few days
women behave the most like the way men behave all month long?
– Gloria Steinham

Re: A multiple repsonse - Posted by Charlotte Norris

Posted by Charlotte Norris on November 19, 2004 at 02:43:06:

Let us never negotiate out of fear, but let us never fear to negotiate.
– John F. Kennedy
generic viagra cheap generic viagraI will never lie to you.
buy generic viagra order generic viagra onlineNever put off till tomorrow what you can avoid all together.

Re: you betray your ignorance - Posted by Chuck Rosenberg

Posted by Chuck Rosenberg on September 05, 2005 at 10:58:50:

wine rack kits wine rack plans wine country bed breakfasts wine racking systems home wine cellars wood wine cabinets wine storage system wine making press wine making barrel table wine racks

Re: you betray your ignorance - Posted by Matthew

Posted by Matthew on July 03, 2004 at 23:59:19:

I thought of that, unfortunately I am still paying towards my truck. Otherwise I would have taken out a loan against it (or tried to)

imprimer etiquette - Posted by imprimer etiquette

Posted by imprimer etiquette on January 18, 2006 at 17:48:50:

baby butterfly decor make your own music game ori pei breeder baltimore manganese law suit lawyers pitts s 2b photos stop orders stocks motorcycle accident new jersey bulverde tx property oriental bedspreads how to make ethanol meters to feet calculator hitch movie quotes sustainablity development photos of veronica lake police car website self reliant patients wyoming securities fraud lawyers paris slimming institute printable grandparents day cards value of hummel figurines low humidity cabinets halloween cat coloring pages sumitt racing 920 st03 failing computer memory ballroom blitz song make your own slingshots montery events genealogy message boards really cheap auto insurance free instant message software toolcrib of the north waldport or lodging guided meditations witchcraft mp3 contact lenses fort myers circus coloring pages python gator find background information on anyone nextel corp goverment programs tec 9 parts pictures of swamps personal statement for med school commercial capital direct llc dvd sarge download code3stud black preference over hispanic new diablo horadric cube recipes emachines t4160 colorado grants for katrina florida real time court reporting over 1000000 images french snowy bathroom wall heaters gas bankcrupcy complaint windows 2000 startup disk iberia airlines flights beijing masda miata 2006 pictures western field firearms stage lighting maui fireplace tv cabinets salt fork state park ohio steel buliding free love tarot and fortunetelling costume crowns morwear paint economy in usa vacation rentals jamestown ca ohmyhose doug 20barber 20photographer kobasa hardiness theory village blacksmith electric cultivator achat serveur express smithnoble com nice teen model african sandcast beads kitso koneko lucy shapiro anacor william stephen proudfoot teacher day gift 45 auto style pullback risers free check writing software irish celtic symbols speech on name calling rentals seattle capital hill nc oceanfront homesites for sale snowbike snowbike used oil boiler recycle computer oklahoma city free online pc help james bond 20 dvd collection let me down easy lyrics how to wrap spring roll teaching with toys super plus size corsets consumer market research firms ford tractor 3600 pictures channel 13 wthr indianapolis short skirts and slips naming research companies no photo avabile

Re: you betray your ignorance - Posted by Lyal

Posted by Lyal on July 04, 2004 at 08:36:32:

Can you refinance the truck to get some money out? How about a credit card advance or checking account overdraft protection loan? Anything you can sell or pawn for a short while?
All the best, Lyal