All Forum Posts by: Dennis Lanni

Wow, this is an old thread,  i purchased a house & bare land at that auction.  Just FYI Sacramento is having a Re-auction this coming Friday for properties that were postponed from the standard Feb. auction.  Sacramento still holds a live auction format which is nice because your not bidding against someone online in Ney York. 

I would hire a probate attorney.  Also you will need to get your mother's hlaf sister's kids and all of the decent's siblings kids to relinquish their estate right to you or your mom. Additionally as a hedge from greed family members you should have your mother (and you) file a creditor's claim for paying the taxes and "keeping" up property" for the last 20 years"  as you said "Mom started taking care of haft sister more than twenty years ago." .

Hope this helps

Hey there,

I am in Sac & might be able to help - I have done a few deals like this before :)  

Rick-thanks for putting me on this tread.

let me know if you want to chat about it.

I did not follow your math but the idea.  How much did u pay for the judgment?

hmmm

I just read your marketing sheet, you would have been better off foreclosing it out and opening the bidding at 49k.

just my 2 cents 

Liz 

Why did u pay off the judgment instead of just foreclosing out your note and not paying them off?

I bet I can locate a cashflowING property in Sac.  What are your numbers (ex. 100k house purchase w/ 1k mth. Rent?).

No water!  Wow that could be a good short term opportunity if people panic.  

Seems to me that the "drought panic" will peek this summer and the rain will come later this year. 

If I could find a way to bet on it I would-  mountain house, Ca here I come ; )

175k is plenty of $$$ to flip wherever you live in CA.  Think about areas close to you.  When I started I lived in San Francisco and was buying/flipping in Sacramento, it worked.

Good luck 

@Devan Mcclish - I'm with the other guy who says you should reach out to Rick.  I bet any attorney you hire will want more $$$ than Rick & has never actually had to deal w/ your situation thinking through it "as an investor".  Also SO many people have posted a "I need help" post on BP & then disappeared, Rick was just stating the fact that you went MIA (keep us posted on your deal at an "unbelievable price!!!").  My guess is the PR could not qualify for a bond so they have to get court approval to dump the property.

Good luck