Archive
Expenses Escaped Ashley and I have been blessed to have Peter Fortunato as one of our main teachers since we got into real estate investing. When it comes to creative real estate transactions, Pete is like one of those guys that does chainsaw wood carving. He walks up to something that looks like a stump to everyone standing around, cranks up his creative chainsaw mind and begins...
FiFa is a four-letter word Well technically FiFa is not a four-letter word. It’s an abbreviation for the two Latin words Fieri Facias that translate to “you shall make happen,” which you’ll understand in a minute. A FiFa is a lien issued by the clerk of court to a lawsuit winner who has been awarded a judgment. This lien becomes public record and gives the sheriff's office...
I got a call from a newer investor recently, and he was about to do his first subject-to deal. That’s where you buy a house and leave the seller’s mortgage in place after closing. You then make payments on that mortgage until you either pay it off, refinance the house or sell the property. The investor was looking for some guidance on how to set up and properly use a land trust,...
The two main obstacles most beginner investors experience are “Where do I find a deal?” and “How do I pay for it?” This situation feels a lot like the age-old question, “What comes first — the chicken or the egg?” In order to buy a house, you need to secure funds to pay for it. But in order to secure those funds, you need to have a deal under contract to present to your lender....
Making an offer is sometimes intimidating for a beginner – mainly because you’re scared the seller will accept, and you have no idea what to do next. Or you’re scared you’ll mess something up. Either way, I totally understand. But something that gave Ashley and I confidence was to realize that you aren’t contractually bound by anything just because you made an offer. An...