Real Estate Agent · Marlton, NJ · Member since 2016 · 2 posts · 0 votes
I'm trying to understand what options I have to gather more information regarding an abandoned home in a neighboring town. The house has been vacant for a couple years and is in a nice neighborhood (values around $400k to $450k). JP Morgan Chase did hold the mortgage, but recently I saw that it was sold to LSF9 Master Participation Trust.
I'm not sure if that is a bank, or some other entity? I'm assuming the house will go to foreclosure at some point but I'm not sure how this recent change affects my potential next steps.
Any help, or advice, is greatly appreciated. Thank You!
Okay, I've read this thread and I was in a similar predictament. The property next door got eaten by this monster, but I had an issue with my property that was being caused by theirs. I went from Caliber Homes (OK), to Hudson Homes (TX) and finally to RESICAP (GA). Hudson Homes told me they wouldn't be selling it anytime soon. I've been in email contact with RESICAP for 6 months. First they said they'd be fixing up the property and renting it out. I explained my problem; they asked me to send photos, quotes, plans, etc.; which I did. Finally they suggested I make them an offer to buy it, which I did; which they declined. They finally asked me to give them a couple of days to get someone to get back to me to handle it. They put it up for sale 2 days later and haven't got back in touch with me! Can't tell you the outcome, because I'm still battling with realtors (but that's specific to my case). Contact info to try:
REO at HudsonHomesMgmt dot com They copied their response to the Management company. cc'd on that email were:
general at wripm dot com , HAM_REO_General at hudson-advisors dot com
I then got an email from an employee at RESICAP who I think got my email from the general at wripm dot com. RESICAP website has a contact page (resicap dot com) and area code four zero four - four six seven - four two zero eight. If you call them, only call them to get a name; their email addresses are theirfirst initial, last name at resicap dot com. For example, Jane Doe would be JDoe at resicap dot com
DON'T call~you have no records of what they say! Email, and if they don't respond, put "2nd Request" or "3rd Request." They actually are pretty good in responding.
Good luck! I'll come back and let you know what happens with me!
I'm trying to understand what options I have to gather more information regarding an abandoned home in a neighboring town. The house has been vacant for a couple years and is in a nice neighborhood (values around $400k to $450k). JP Morgan Chase did hold the mortgage, but recently I saw that it was sold to LSF9 Master Participation Trust.
I'm not sure if that is a bank, or some other entity? I'm assuming the house will go to foreclosure at some point but I'm not sure how this recent change affects my potential next steps.
Any help, or advice, is greatly appreciated. Thank You!
The detailed version aka more then you wanted to know
Real Estate Investor · Glenside, PA · Member since 2017 · 3 posts · 0 votes
8y
What do the hedge funds do with the property once they purchase it? I found a property in my area that sold to this same trust almost a year ago. So far they have not done anything to the property and it is definitely in need of major rehab. I am hoping to get the property next door under contract to rehab it, but I am concerned that it will be more difficult to sell the property next door because of the condition of the hedge funds property. Would they try to sell it to an investor?
Rochester, NY · Member since 2017 · 58 posts · 10 votes
8y
@Robert Bradley I'd really like to know this as well. LSF9 MASTER PARTICIPATION TRUST owns a few properties near me and would like to know their intentions.
Rental Property Investor · Columbus, OH · Member since 2015 · 109 posts · 97 votes
8y
I am also interested in a property and am told by the "owner" on the auditor's website [which is US BANK TRUST NA (AS TRUSTEE FOR LSF9 MASTER PARTICIPATION TRUST)] that the account is owned by Caliber Home Loans. It is impossible to reach a human on their "Customer Service Line" so I am writing them a letter. Will update if anything comes out of it.
It is of course very frustrating that they allow homes to sit a fall apart and contribute to blight in neighborhoods.
Would love if anyone knew of an extension number or any way to reach a person at Caliber, I have tried punching in several extensions but am not guessing a correct one.
Rental Property Investor · Columbus, OH · Member since 2015 · 109 posts · 97 votes
8y
@Bernard Chouinard Unfortunately not really. I was able to successfully track down a local Caliber rep and even met up with her for coffee. She looked into the property a bit more and told me that she found that Caliber did not own the property. She was able to make contact with someone at US Bank who told her that the property was not and will not be for sale anytime soon and that it was placed into management and was a rental. I drive by this property multiple times a day and it is definitely not being rented. I'm not sure I believe the story. The woman I met with was very nice, came across as sincere and I don't believe she was misleading me intentionally ... it just seems a bit fishy that they said "it was a rental" when it isn't. Nor does there appear to be any work happening to the property to prepare it for a renter.
I was just about to report the property to the city for not maintaining the lawn when I noticed it had been mowed, so someone is keeping up with that at least. I basically spent so much time on it that I had to give it up! It's a shame because I am nearly certain it is one of the oldest homes in the neighborhood and a focal point when you drive into the area so it's hard to see it sit empty!
If anyone has any ideas of how I can proceed to follow up, I am all ears. I hate to see a nice home fall apart due to neglect when I know there are so many people who would love to make it their home. We've had 86 months of consecutive inventory reduction in central Ohio so available homes are severely lacking right now!
Florida Central Gulf Coast · Member since 2018 · 31 posts · 9 votes
7y
OK, I stumbled upon this thread while looking up information for LSF9 Master Participation Trust as there is a vacant home that I want to buy. I know this was over three years ago but, I have some additional information that I gathered in my research to find someone to buy talk to about buying the property.
Based on this article the real US Bank is not associated with this company whatsoever. Now, someone posted another article that let to a phone number for the "Texas Office" I called that number and they gave me a number for their "New York Office" that handles residential properties. Send me a message if you want that number as I can't post it here based on the rules. The number will connect you to Hudson Advisors Group, http://www.hudson-advisors.com/contact-us/global-offices/
I spoke to their receptionist, Hailey, and she is supposed to pass my info to a person named Steven to contact me. We'll see how this goes. I hope this is of help to someone.
Florida Central Gulf Coast · Member since 2018 · 31 posts · 9 votes
7y
OK, another update. I did some additional research and called US Bank Trustee management. They are indeed tied to LSF9 Master Participation Trust. After giving them the property address the rep told me that this one was managed by Residential Capital Management. You can find contact info at; https://resicap.com/contact-us/
It has a phone number and you can send them an email via the link. I have an email address that I was given by the US Bank rep so send me a note if you want it. Now I am going to give these guys a call!
Florida Central Gulf Coast · Member since 2018 · 31 posts · 9 votes
7y
OK, so, I called and left a message and then sent an email to them and I got an email back saying that this property was going to get rented and not on the market. Mind you, it has been vacant for at least 6 months. I did ask them if they had properties in my area that they wanted to sell so we shall see what they come up with.
If you find a property that has the whole US Bank trustee listing deal I would recommend that you call their trustee services. This link has a phone number at the bottom. https://www.usbank.com/cgi_w/cfm/itc/solution_advi...
From there, just pick a number and when a live person comes on, tell them that you are trying to gain info on a property that you want to buy and give them the property address. Ask them to provide you the contact info of the people authorized to manage the property. They should pass this on to you and you can then reach out to whoever it is.
My best guess at this point is that this is a very large property investment firm that bought a lot of crash properties and foreclosures then rent them for cash flow for their investors. They are definitely not easy to get a hold of. If I can get them to give me a contact that manages properties they want to sell I'll let everyone know.
Has anyone ever purchase property from LS9F? There is a piece of property next to me and I'm about to start the contact to buy process with them. Any tips for the PA area?
Flipper/Rehabber · Geneva, OH · Member since 2016 · 3 posts · 1 vote
7y
@Stephen Aki - did you ever get in touch with the property manager who can make decisions? I have been going around a similar loop here in Ohio and contacted WRI Management - which is the same address as Resicap. I am following up today because it has been 3-4 weeks since I filled out the form online.
Newburgh, NY · Member since 2017 · 33 posts · 11 votes
7y
The investor:
Lone Star Funds is an American private equity firm that invests in distressed assets in the U.S., Canada and internationally. The founder of Lone Star established its first fund in 1995 and Lone Star has to date organized fifteen private equity funds with total capital commitments since inception of over $59 billion.
Eventually, the properties are placed on the market. It is important to keep an eye out because sometimes signs aren't posted on the curbside, they might be inside the windows if the agent feels that there is likelihood the sign will be stolen or disappear.
I checked the tax record for how many properties are owned by them in my area and it pulled 180 results where LSF9 is listed as owner.
Rental Property Investor · Gilberton, PA · Member since 2017 · 36 posts · 10 votes
7y
I have a house I want to put an offer in on it that is owned by this trust. I checked property records and the last owner had it since 1978 but died in 2015. House is in PA but my agent is not sure what the deal is with it and asked me to contact an attorney. Says in the MLS notes seller will convey an insurable special/limited warranty deed. I am a bit of a gambler but have been burned before with a bad title on a home so not trying to have it happen again.
I too am looking at a house that is owned by this company, it's also listed with an agent so hoping she can get things done, it's definitely a fixer-upper and would never pass a fha, cash deal. My realtor is still waiting to hear back for the code to get in. They own 3 properties in my county
Okay, I've read this thread and I was in a similar predictament. The property next door got eaten by this monster, but I had an issue with my property that was being caused by theirs. I went from Caliber Homes (OK), to Hudson Homes (TX) and finally to RESICAP (GA). Hudson Homes told me they wouldn't be selling it anytime soon. I've been in email contact with RESICAP for 6 months. First they said they'd be fixing up the property and renting it out. I explained my problem; they asked me to send photos, quotes, plans, etc.; which I did. Finally they suggested I make them an offer to buy it, which I did; which they declined. They finally asked me to give them a couple of days to get someone to get back to me to handle it. They put it up for sale 2 days later and haven't got back in touch with me! Can't tell you the outcome, because I'm still battling with realtors (but that's specific to my case). Contact info to try:
REO at HudsonHomesMgmt dot com They copied their response to the Management company. cc'd on that email were:
general at wripm dot com , HAM_REO_General at hudson-advisors dot com
I then got an email from an employee at RESICAP who I think got my email from the general at wripm dot com. RESICAP website has a contact page (resicap dot com) and area code four zero four - four six seven - four two zero eight. If you call them, only call them to get a name; their email addresses are theirfirst initial, last name at resicap dot com. For example, Jane Doe would be JDoe at resicap dot com
DON'T call~you have no records of what they say! Email, and if they don't respond, put "2nd Request" or "3rd Request." They actually are pretty good in responding.
Good luck! I'll come back and let you know what happens with me!
Real Estate Agent · Ocean View, NJ · Member since 2015 · 76 posts · 25 votes
6y
I just found a house in my local area while driving and came home to look up who owned it. I found out that LSFP MASTER PARTICIPATION TRUST is listed as the owner. Based on this thread, I guess I don't have much luck in purchasing it anytime soon?
Kiersten, There should be a "c/o" on the deed of a company and an address. You can call them, ask them for an email and send a letter; or if you want to send me the address, I'll do some digging for you. I actually like doing it. I'm in Massachusetts, so I won't be running down to grab it from you - if you want to see what I can find out, I'll be happy to!
@Taneisheo Ferguson, Well, we decided to buy it and deal with the problems ourselves. We negotiated the price down about 7.5% (my original offer was about 15% less than the asking). So far, we've signed a Purchase Agreement; suppose to pass mid January; hopefully there will be no problems. As I said to Kiersten, if you want me to look into yours and give you some pointers or leads, I'd be happy to - send the address through a direct message, if you want. Good Luck!