All Forum Posts by: John Rooster

Your State probably has a specific legal definition for squatter if it has laws related to squatting, which is the only reason I can think that you would ask such a question. It is probably close to what Dion said, and the person you describe probably is not officially a squatter. Though many people would refer to him as a squatter in casual conversation.

I should have said owner occupants and qualified non profits. Which is a pet peeve of mine, since I am sure there are qualified non profit housing companies set up by scammers just to benefit from government programs, no property taxes in many States, and other advantages such priority status in HUD bidding.

I have never heard of this company. All I see on their website is a sign in screen, and it appears that you need to join to get past the sign in screen. And membership appears to cost $4,995. I must be missing something, because only a crazy person would pay $4,995 to see what is behind the curtain. What am I missing?

Not only has this HUD 15 day rule giving an exclusive to owner occupants been around for many years, I believe it used to be a 30 day exclusive to owner occupants.

It has been a long time since I have bid on such GSA auctions I stopped bidding on them because there were always multiple people outbidding me. Getting a $100,000(?) property for $10,000 from the GSA would be like winning the lottery. Thus I expect it will be bid up, or you are missing something.

Every State is different, Call the County tax assessor and ask them what they will do.

Yes it would in theory be possible to pay each brother $1000 to sign over a quitclaim Deed. Highly unlikely they would agree to it. I would start by researching liens on the property, and how far behind the taxes are. Most likely the daughter is not giving you the whole story, and finding and approaching the brothers would be an exercise in futility. But you don't know till you do your research.

I think what most are missing is that the duplex was built in 2007, which means to me that maintenance is going to be much lower than the average rental. I'd ball park cash flow at $600/month if he were managing himself, $400/month with a property manager. Not clear to me why he is not managing himself, maybe I missed something.

I agree with this. If you think it is a moot point, you missed the point.

Another marketer with no actual end plan that has not really thought this through.

Bubble logic is fascinating. I love reading such time stamped perspectives. Both educational and entertaining. 2000 Tech Stock bubble and 2012 Gold Bubble posts are equally interesting. They all share a similar disconnect from real fundamentals.

As far as the what happened to these two guys question, my guess is one of them went broke, the other got tired of reading and responding to the same newbie questions that dominate message boards like this.