http://www.investormania.com/blog Tue, 01 Jan 2013 21:51:48 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://www.investormania.com/blog/melissa-gagliano-mother-children-360-real-estate-deals/#comment-35 Romeu Tue, 01 Jan 2013 21:51:48 +0000 http://www.investormania.com/blog/?p=65#comment-35 I only do this on Non Owner Occ. properties, in CO we have some new laws that make flpniipg even the LLC or Trust beneficial interest a No-NO .Even if you get an acceptance letter with no resale for 60 days, you just sell the entity. This works for properties your selling to cash or hard money buyers. Flipping to owner occupants getting traditional financing, not going to fly because of the entity they need to close in their own name to get that kind of loan. I only do this on Non Owner Occ. properties, in CO we have some new laws that make flpniipg even the LLC or Trust beneficial interest a No-NO .Even if you get an acceptance letter with no resale for 60 days, you just sell the entity. This works for properties your selling to cash or hard money buyers. Flipping to owner occupants getting traditional financing, not going to fly because of the entity they need to close in their own name to get that kind of loan.

]]> http://www.investormania.com/blog/melissa-gagliano-mother-children-360-real-estate-deals/#comment-7 Andy Mon, 16 Jul 2012 00:32:12 +0000 http://www.investormania.com/blog/?p=65#comment-7 Yes. (FYI, i have closed 2 non-owner oecpuicd short sales with local lenders neither were listed and I assigned both of them. You MUST know your state's up to date laws. In CO it matters if it's owner oecpuicd or not very different rules. Laws and Lender SS Acceptance letters are 2 diff. things as well. If I intend to flip it I'll contract in a trust or LLC and sell THAT entity in lieu of selling or assigning the contract (or double closing). I have other videos on this. Yes. (FYI, i have closed 2 non-owner oecpuicd short sales with local lenders neither were listed and I assigned both of them. You MUST know your state’s up to date laws. In CO it matters if it’s owner oecpuicd or not very different rules. Laws and Lender SS Acceptance letters are 2 diff. things as well. If I intend to flip it I’ll contract in a trust or LLC and sell THAT entity in lieu of selling or assigning the contract (or double closing). I have other videos on this.

]]> http://www.investormania.com/blog/melissa-gagliano-mother-children-360-real-estate-deals/#comment-5 Marco Sun, 15 Jul 2012 14:24:17 +0000 http://www.investormania.com/blog/?p=65#comment-5 For some people 20% is a lot to put down. There are many intnescas where the parents could help out. They can sign onto the mortgage as a guarantor. After one year they can be removed from the mortgage through a lawyer. Lenders want to see that you are good with credit prove your responsible and lenders will have no problem with you in the future. There are many times a guarantor is needed for younger professionals without any credit history. Speak to a mortgage broker they can help you. The slow way is to get a credit card from your bank and start using it. Make sure your payments are on time and in 3-6 months you will start seeing your score. Typically, you need 1 or 2 open lines of trade (credit card, line of credit, personal loan) to get a higher score. Make sure you make your credit card payments right away and try not to carry any balances over to the next month. Keep your statement balance at $0 while using your card regularly For some people 20% is a lot to put down. There are many intnescas where the parents could help out. They can sign onto the mortgage as a guarantor. After one year they can be removed from the mortgage through a lawyer. Lenders want to see that you are good with credit prove your responsible and lenders will have no problem with you in the future. There are many times a guarantor is needed for younger professionals without any credit history. Speak to a mortgage broker they can help you. The slow way is to get a credit card from your bank and start using it. Make sure your payments are on time and in 3-6 months you will start seeing your score. Typically, you need 1 or 2 open lines of trade (credit card, line of credit, personal loan) to get a higher score. Make sure you make your credit card payments right away and try not to carry any balances over to the next month. Keep your statement balance at $0 while using your card regularly

]]> http://www.investormania.com/blog/melissa-gagliano-mother-children-360-real-estate-deals/#comment-3 Kelly Wed, 23 May 2012 23:49:07 +0000 http://www.investormania.com/blog/?p=65#comment-3 Melissa i agree with you about being transparent, many people confuse investors rather than be upfront with them, if more people were honest when the problem arose the molehill wouldent have turned into a mountain. Great article! Melissa i agree with you about being transparent, many people confuse investors rather than be upfront with them, if more people were honest when the problem arose the molehill wouldent have turned into a mountain. Great article!

]]> http://www.investormania.com/blog/melissa-gagliano-mother-children-360-real-estate-deals/#comment-2 Patrick Wed, 23 May 2012 21:53:06 +0000 http://www.investormania.com/blog/?p=65#comment-2 Really enjoyed the article great to see such strong female entrepreneurs. Really enjoyed the article great to see such strong female entrepreneurs.

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