All Forum Posts by: KC Zhang

Great to hear everyone's comments about this. I use loopnet listings to practice my analysis skills on apt deals. No way I will jump on any of the I have seen so far. Regards Casey

I started learning apt investing recently... I was browsing Loopnet today and took a look at an listing in Indy, a 450+ apt complex purchased as a REO in 2010 for $3m, and refinanced in 20143 for $30m with Wells Fargo. According to the listing, current owner spend close to $4m for capital improvement after purchase. Is it too good to be true? If it's refinanced for $30, it translates to over $60k per door, which is extremely high for Indy market in my opinion. But any how, it's super deal for the current owner if they can sell it for $30m and pay off the loan.

Casey

Newbie Apt Investor

@Craig Wilcox @Bill Culley

Thanks both for your replies. I got few references from Underwriters Agency and engaged an attorney for this case. 

Happy investing! 

Casey

I need an attorney in Rockford, IL to file a foreclosure for me. I called several attorneys in Rockford, and two law firms in Chicago, and nobody wanted to take my case. Please let me know if know any good foreclosure attorney or foreclosure service in IL. 

Thanks

Casey

@Greg V. .... How much tenant allowance (free rent) do you typically give to your tenants? 

Do you have similar information for retail for OC?

Greatly appreciate all these insightful replies. I'll definitely tread carfully with 2nd position NPNs.

Casey

I'm looking at several 2nd NPNs for purchase. Several of 1st position holder started the foreclosure process. The underlying assets have enough equity (FMV) to cover both 1st and 2nd. How can 2nd note holder ensure the property is sold at FMV at trust deed sale? I assume if is sold at FMV, 2nd lien holder will get they owned. Thanks for your help. Casey

@Bob, are you targeting potential short sales or properties with equity for fix and flip?

Personally, I think 1000 is a good size to start with. If you have time, you might want to go through the list and cleanse it up to improve your chances. Also, you can divide the 1000 into different batches, so you don't get overwhelmed with calls if you get good responses to you marking campaign.

Casey

I just finished reading this thread from beginning to the last post. Really enjoyed it. Thanks for sharing your story with us.

Casey