KevinAmolsch

Its my understanding that if the seller files bankruptcy the house can be thrown into the mix. (but I am not an attorney) If there is equity the other creditors included in the BK will demand it. Only if there is no equity will the subject property be retained. This is of course in a Chapter 7. A Chapter 13 should not impact your position as long as everything is current. You can protect your interest many ways. One idea is us a mortgage or deed of trust and actually become a creditor so there truly is no equity. I also agree with Michael. You would rather make your payments directly to the lender. Or make the check payable to the lender and send it to the seller to forward on. Worst case, get access through a phone system or internet so you can be sure the seller makes the payments (this is a hassle though) If I don’t send payments to the bank myself I have the seller sign a form that states under any default I can make payments to the bank directly and that I will be credited $3 off my price for every $1 I send to the bank to make up back payments. Hope this helps.

I am a mortgage broker in Colorado. I work only with investors and am an investor myself. My clients are constantly asking me what to do about financed property limits. I finally found a legitimate blanket loan in CO. Up to $3 million. This loan does not show on your personal credit report so you can keep you rentals in your business and buy more houses. 2pts and about 7% (rates are actually a little under 7%) There are no underwriting fees or processing fees 75% LTV Full doc only The net income from the properties must be 125% of the debt service This is a great loan opportunity but only available in Colorado. Kevin Amolsch kevin@lassitermortgage.com www.Lassitermortgage.com www.45dayinvestor.com

It is getting tougher and tougher to finance more than 10 properties. We only have two lenders that will do this and they are both portfolio lenders. It is getting impartive to get these loans off your credit. You can do this one of two way Blanket loans Finance in your llc or corp As long as the LTV is 70% or less and your credit is 680 or higher we can finance each property in your llc and completely remove it from your personal credit file. You will be personally guaranteeing the loan it just does not get reporting in your name. Rates are a little higher but with all the new guidelines it is getting more important to remove loans from your credit. Please let me know if there is anything I can do to help. Kevin Amolsch Kevin@lassitermortgage.com

There are a couple of ways to invest in real estate through your IRA. You can take a passive approach and become a hard money lender. You may want to work with a mortgage broker that knows how to do this in your area so you are protected through the transaction. You can also invest in real estate actively as discussed in this thread. We do non-recourse IRA lending across the nation. You will need at least 10% of the loan amount in your IRA for reserves. You will also need a down payment between 30% and 40% depending on the property. Rates are around 8% on a 30 year fixed. Kevin

I can provide those letter if you need them. Send me an email with you contact info and I will call you to talk about it. Happy investing. Kevin kevin@lassitermortgage.com

The only advantage to a refi over a new purchase loan is the ability to use the appraised value. The lenders I work with that do a refinance loan on a lease option only do it for owner occupied so it is great to cash out your tenant buyers. I don’t know of any lenders doing these types of loans for investment properties but it they are out there it would be a terrific way to get financing with out ever putting money down. Kevin Amolsch kevin@lassitermortgage.com www.lassitermortgage.com