Tien Trinh

Thanks Michael, I hope the post didn't sound like my parents are trying to use me in anyway. They've been trying to do this without help for awhile. Dad works odd jobs to pay the mortgage and they've rented out 2 rooms to help with expenses. I contacted the mortgage company myself, and they said that was fine.........it was actually painless. I decided to call my 2 brothers (I'm the oldest) and we will divide the remaining mortgage balance 3 ways ($21K each). My parents will still keep the house in their name. It didn't make sense to have it in my name and pay a higher property tax bill b/c of non-resident homestead. And I thought the property tax in California was high! This way, they can still be able to pay for everything else, and get some healthcare insurance. Thanks again for the advice! Tien

Hi there! Okay, my mom has been asking me to pay off her mortgage loan since Dad loss his job 2 years ago. He loss an eye on the job ....he was a welder for a semitrucking company. They let him go once workers comp was done with him. Company said he wasn't capable of doing the job Don't get me started on that .... Both are unemployed and have been living off their savings account since. The house has alot of equity but the value has gone way down. I want them to be okay, so I will pay it off. They have about $65K left to pay. I just got off the phone with her. She also wants to transfer the deed into my name. They live in MI. I live in CA. How do I go about doing this? Do I need to contact an attorney in MI or CA? Can I just call the mortgage company and tell them I will pay off the loan, then do a quit claim? Any legal advice is appreciated. Thanks! Tien

No, I'm not a nude model.....but maybe I can read up on that and get back to ya. Does it pay well? LOL! You're probably right.......I mean, you even have a page on it! Must happen alot. My problem is trying not to make as many mistakes as possible...........which of course is impossible. Thanks again. Tien

Hmmmm, now there you go getting me to think again MichaelC. The problem is, when I go and research Lease Options and the such, the brain waves in my head start to overheat. I just don't get it. There are so many different kinds of agreements and contracts, and terms used that it's dizzling (is that a word???) Everytime I come to a new term/contract, I have to google and it literally takes me all day to understand one thing. I'm slow, I know it. But there must be a way to easily understand this stuff. Can you draw????

See what happens when you let a mother of 3......during summer break of all time to read and research? She starts thinking, apparently a little too much! LOL! Well, the credit card I was going to open was to use for a few courses on RE investing when the kiddies start school. I wanted to keep everything that concerns with REI on one card. But mostly, just to have a brand spankin new card to carry around! A friend suggested I have a business name. She's starting in REI too, but much further than me. I guess, it's just to get it out of the way since I'd do it later down the road. From reading and researching, I've come to lean towards the fix and flip and property rentals. For some reason it excites me more. Everything else seems like a different language. I'm sure more reading/researching on this forum will remove the dark veil hanging above my unbrushed, Cheerios laden,confused head. Thank you for the advice MichaelC. I will take any that comes my way. Tien

Hi all, I'm very new to REI and have been reading alot from this forum. I've learned so much in the last week, and will have lots of questions in the future. But before I'll ask any questions that might sound really dumb, I need to let you know, that I know NOTHING about investing in Real Estate. I've been reading and researching quietly the past 4 months and it still amazes me that one can just go on a forum and ask any questions....then have them answered for FREE. I'm a SAHM to 3 kids ages 18 months to 9 yrs. living in Temecula, CA. I have no college education and haven't worked outside the home for over 10 years, so it's all new to me. I'm looking into REI because it would allow me to still be home with my kids while making money(hopefully). Hubby travels alot and I worry about him. It scares me to think what we would do if something happened to him on those business travels. So I'm here to learn how to make an income to take care of my kids. I also must warn you that I'm a bit computer illiterate, so please be patient. I type like I have arthritis. So here goes...... 1. What kind of business credit card does one open as an investor. 2. Do I need a business name or can I just use my name? Well that's all I got. Sorry if these questions seem idiotic, but I've been googling but nothing comes up on this subject. If there's anything that you would suggest in the early stages of RE investing, like books, courses, seminars, mentoring programs or the like...... it would be greatly appreciated. Thanks! Tien