All Forum Posts by: Owen Dashner

Mine did not include phone numbers, but you can select that as an option.  Not sure on the accuracy though, since land lines are going the way of the dinosaur...

I use Listsource for producing this exact list.  You can build the list criteria, then see how many records there are are and what it will cost.  You can get the results in a CSV or Excel file which can be filtered by owner address.  Easy to use, pretty economical.

@Account Closed, 

Wow - you found a fun one!  Unfortunately, I have to agree with John T above - I would not attempt to close on the property if the mortgage will not be paid off with the sale proceeds.

Mortgages are sometimes recorded, but mis-filed at the county recorder's office.  The legal description could be off by a "lot" number or something, causing the file to be put in the wrong place.  

It is also highly likely that when the seller originally took out the mortgage on the property, he signed some sort of errors and omissions waiver that encompasses situations such as this where something has been mis-filed or recorded incorrectly.

One other thought, I don't believe there would be anything stopping the lender from recording the property today/next week/sometime in the future, especially since they are now aware of the situation.

Obviously, I'm not a lawyer, so please don't take the above as legal advice.

It sucks that this happened to you, but definitely better to find out now than after you have already bought the property.

Hi Tyler,

Welcome to BP!  Omaha is a great place for buy and hold.  Are you familiar enough with the city to determine what part(s) of town you are considering?  What price point are you looking to stay under for your 4-plex?  And are you looking only at built for the purpose, or are you considering conversions as well?

The market in Omaha (as with many other cities) is very competitive for small multi's right now, but you can still find opportunities with some work.  I bought a 4-plex in February and have been looking at several other buildings recently, so feel free to reach out to me if you have any questions.

Owen

That question is impossible to answer because it does not mention what part of the country/state/city, and doesn't take into consideration the financial considerations of the buyer.

BTW, appraisers will likely still use both an income and comp approach in the appraisal, even though it is less than 5 units.  Don't be surprised if the comps are all over the place - not many 2-4 unit solds in O-Town in the last 6 months.  You might have some way north, south or west from your subject property because of lack of solds.

That's funny.  I would personally recommend Michelle McWilliams - (402) 320-4634 (she has her own company).  And the other company who did my 4 plex appraisal is Rally Appraisal (I don't know them personally) - (402) 592-6733.  

Isaac, that appraisal is high.  The fourplex I bought last month on 48th & Harrison was only $550 (full appraisal).  

Thank you guys!  @Jeremy Prunty, can you give me the link to the specific product you bought (it looked like there were several).  It looks like they snap pictures (as opposed to video), correct?  How is battery life?