All Forum Posts by: Manu P.

@Francisco Medina - did you run a complete title search from a competent company? 

Mortgage foreclosures is a nuanced and esoteric strategy and one should be familiar with all applicable statutes (local and Federal) depending on the jurisdiction. You haven't mentioned which state, county, city/town you are dealing with. Therefore, can't comment on your question without specific details. 

Delinquent property owners may also have other liens (which may take precedence and run with the property and are not individual obligations) such as IRS liens, local municipality liens, etc. So, keep an eye out for that. Also, municipal violations or ANY cloud in the title can deter a delinquent property owner from selling. Hence, a thorough title search is absolutely important. 

I specialize in distressed assets. I have seen many newbies get trapped while jumping in head first after hearing some 4 hour seminar from a local self-proclaimed RE guru. 

I agree with @Brett's assessment that property owners in mortgage foreclosures don't want to sell. 

@John Underwood - I don't read books or rely on Google for such a topic. 

I directly go to the source by 

1. researching titles from county register offices
2. reading statutes of relevant jurisdictions and case laws around the same
3. courses from local government or NTLA on the tax sale law

Has been very rewarding so far.  In addition, I use certain modern tech tools to automate pre-auction research, servicing of liens and monitoring portfolio.

@John Underwood - do you have a post on the list of books? Or slides/youtube channel video for what you teach at the local real estate club? 

If you could share that would be great! 

@Vinit N. I am mostly invested in same areas. My deal flow is mostly from distressed though and then BRRRR at its best. The investment prop listed on my profile is up for grabs if any JC aficionados want it.

@Juan Cabrera, you are absolutely right about to-the-moon because my data analytics indicates that pockets of JC are moving from being rental owned (high cap rate) to owner owned (low cap rate but high prices). So, load up anything over 5% cap rate and just ride out next 5-10 years. 

@Drew Slew - your observation on greenville is on-the-money. I see them buying in sheriff sale all the time.

@Brandon Arce - Greenville is perfect for BRRRR strategy adopters for the next decade. Any dip in the market will attract cash-buyers immediately.