Sub 2 ?
If you find a seller willing to do a subject to transaction, you need their permission to talk with the lender about their loan. I have been told that what you need to get is a limited power of attorney. Is this something that you only need a notary for, or does this take an attorney? Also, where is a good place to get one of these forms to obtain this power of attorney?
Also, I have been calling attorneys on the south side of metro Atlanta trying to find one who will work with creative investors. Only one has returned my call and said that they don't do "wraps" which I guess is almost the same thing. It was obvious that about the most creative thing they would be willing to do is help with a second for the seller or seller financing. Do anyone know of a good attorney in the Atlanta area?
Thanks - Kevin
Hi Kevin -
Might I suggest that instead of calling the attorneys in the area you contact some of the local area investment clubs for some referrals:
Georgia Real Estate Investors Association
gareia.org - Debby Henning, President
(770) 451-8800
Real Estate Investors of Atlanta
Steve **Please See My Profile**
(678) 393-9107
Golden Isles Real Estate Investment Group
Susan McCormick
(912) 634-6893
Just to name a few. RE Clubs can be an invaluable asset to you. They would have all kinds of references and information.
While I am just getting started myself I did join one. I highly recommend it.
God speed and I wish you the best in your investing.
Ladyrose
Ladyrose,
Thanks for the info, I have joined GaReia and have been pretty happy with what they have to offer. Unfortunatley, most of the people that I have met so far are beginers like myself and don't have the information I need. Also, I haven't found too many folks investing on the south side yet. Soon I will be able to join the "airport south" subgroup and hopefully get some better contacts.
What type of investing are you interested in, and what part of town would you like to invest in?
Good luck to you as well, feel free to email, I would love to hear from you.
Kevin
Kevin, all you need is a Authorization to release information form to talk with the lender. It normally does not need to be notarized. You may want to check out http://www.sub2deals.com. The person the runs the web site is from Georgia and would be able to help you locate a lawyer there.
Tom[ Edited by tbelknap on Date 06/11/2003 ]
Kevin,
Send me an email. I know of a great RE attorney in Atlanta, although not on the south side of town, he may be able to recommend one or have a partner that's closer to you.
Scott