Investor · Montclair, NJ · Member since 2015 · 150 posts · 23 votes
All - I am interested in a New Jersey property that was recently foreclosed on by MTGLQ, which I understand is a Goldman Sachs subsidiary that bought this loan as a part of a large NPL portfolio from Fannie.
Questions:
1. would any of you know what the process is for MTGLQ to sell a foreclosed property - do they use a vendor for this
2. do you know who the vendor is
3. what should be my strategy to get access to company/vendor selling this unit
Can someone provide a contact number for MTGLQ please. I have someone inquiring about a property they took over. Thank you.
They aren't going to talk to you. If they own a property, they may or may not sell it. If they sell it, they will list it. That's when you get a number. They've been dealing with people wanting to talk to them for years. It's not their first rodeo and they have plenty of gatekeepers to keep you away from their asset managers.
Hi @Shefali R., I used to work for a hedge fund, and I still got friends at Goldman, the process is slow, so don't get exited, they do a lot of paperwork, I will send a email to the company as direct as you can just request info at least do that 2 times per week for month cause they don't answer very fast if you persistent, they will tell you our agent in the area is so and so and now you got to talk to him.
Hey, Shefali and Paul ... I'm also interested in a property recently foreclosed on in North Carolina by MTGLQ. The court records reference their Irving, TX address, so I'm assuming my best bet will be to try to contact someone there. Have either of you got any advice on the best way to go about this? I've got a phone number and street address, but can't find any names or email addresses anywhere. Anything you can tell me will be much appreciated.
Best of luck to anyone trying to purchase a property from this company. I signed a contract for one of their properties the first week of November and I am still waiting for them to get the title cleared :(
@NA Short - Let me know if you are tired and want to move on. I will buy all the time from these 700 lbs gorillas. Where can you get discount of $60 -$80K on $175K property? Moreover previous owner was earning $1500 rent for good 8 months.
This thread died a while ago. I was hoping that maybe someone has some experience with MTLGQ. I want to buy the house across the street from me for my mother.
I Am trying to buy one owned by MTGLQ INVESTORS, LP as well here in NJ and it looks like it is going directly to Sheriff sale before even hitting the public market...
oh well.... Will have to attend the Sheriff sale and see how it goes
Good luck at the sheriff sale, they can be disastrous! Sometimes I think it’s better to let properties go back to the Bank, I think the recourse is better! Just my opinion! If you don’t mind if I ask! What county Is the Sheriff’s sale you are looking to attend?
I purchased my property from them at the end of 2017. Under market value in Westchester County, NY. What they want is a fast close. They want a 45 day close if financing always make sure to include 203k since they do not want to have to fix anything and offer to pay all closing fees. The reason I say these things is because that is what they asked of the buyer for this property and if it wasn't met, they would not sell. There were higher offers with no 203k attached and they were denied so price is not the only factor. You still have to wait for it to go to a realtor so keep watching it unless you know a realtor who can get the inside scoop. Good luck.
Can someone provide a contact number for MTGLQ please. I have someone inquiring about a property they took over. Thank you.
They aren't going to talk to you. If they own a property, they may or may not sell it. If they sell it, they will list it. That's when you get a number. They've been dealing with people wanting to talk to them for years. It's not their first rodeo and they have plenty of gatekeepers to keep you away from their asset managers.
Did anyone have any luck buying from MTGLQ? I found the listing agent. Her colleague showed me the property and I asked if he was the listing agent and he said no. Later I found out they were in the same company but apparently he wanted to act as the buyers agent. He told me it would be a waste of his time to submit my offer. He said they won't take it. I was hoping I could go around them. I think it's crazy they won't submit my offer to their client. MTGLQ has owned the property for over a year and a half and there are no other offers. My offer is the highest I can do to make it worth my time for rehabbing and flipping. The bank has it listed at ARV for the comps and it needs like $35k in repairs. Anyway, I was hoping there was a way I could make my offer directly to MTGLQ. Please let me know if you have any idea or contact info. Thank you