All Forum Posts by: Daria B.

 Gracias!

 Ok, so you're saying yes, this is generally acceptable? 

XYZ is the parent company of ABC.

In an NDA, if the company name "by and between ABC Company and {me the investor}" is not the same as the remaining document, which all references are to the parent company name XYZ, is this still valid or good?

Shouldn't the NDA for which one is signing be the same company name throughout? Or is using the parent company name ok to use?

Best practices?

Thanks

@Account Closed

You're asking the good questions instead of just jumping in and buying and "then" asking "what do I do now".

For your 1st ?, I have not heard of that site so I can't speak to it but I do know there are lots out there.

For your 2nd ?, what did you do to get approached, that you know of? I ask because generally I think others read through profiles or just look at conversations and then send blanket requests, some may be legitimate while others are not.

I have been investing in Notes since last Sept-2016 with a JV partner that I met in a local REIA prior to our becoming partners. I started off in 2 REIA and remain with one since my focus is on what that REIA offers. We met over a year ago prior to my getting into Note investing so we got to know one another regarding investing and in what (ie notes, buy and hold). He has been doing this for 15+ years and I've learned a lot just by attending the REIA for which he is the founder, meeting with other Note investors and reading, reading, reading, and lastly, actually doing the investing and not just being passive. You may want to try and find a JV partner that is experienced to learn from and potentially stick with (perhaps multiple JVs over time) for investing.

It requires a lot of work, I think more than buy-n-hold ( I have SFR that I have had for some time and in my opinion for what I have had to deal with, it's a lot easier ). There are lots of people that find this illuminating and not tiresome at all - they have over time hired people to do one specific thing and once they have a good team of people in place it likely runs a little smoother.

The decision to "manage" the process from beginning to end, including the on-going of keeping up with the Note is not what I envision myself doing at this point. You need to find a good servicer, attorney (if foreclosure is warranted or just attorney-like initiatives, if you hire people then you need to make sure they know what to do for what you need them to do), and just staying up on what is going on with the Note - I'm not sure where the "service" stops with a servicer - do they contact the Note holder if payments are late (still learning the process so....).

I only recently attended a series of sessions from Note investors who presented some content about Note investing and also "product" they wished to sell, which is usually some sort of software or "process" they came up with that helps them manage, buy, etc. Because there are so many "training" entities out there, it makes it difficult to find what will work for you.

If you wish, PM me and I can tell you those that I found to be helpful with the content and not so much the sell, sell, sell.

@Account Closed here is a link from searching BP that you might find interesting.

https://www.biggerpockets.com/forums/93/topics/102...

@Jeff Copeland just thought of this after I posted - there is an HOA lien on this property that is not erased after sale. Is it that the minimum bid amount is set to cover all these costs and paid to the lien holders afterward?

@Wayne Brooks, @Jay Hinrichs, @Jeff Copeland, @John Thedford

Thanks for your contribution! 

@Jay Hinrichs in this case the Note owner is not any of the larger banks. I don't think it's necessarily a hedge fund, could be, so I am assuming the holder is someone in-between a hedge company and a small Note investor who is selling.

@Jeff Copeland you're in my area, so to speak, I am in Gainesville. Thanks for the links. The property was BPO at $850k (not sure what timeframe) and at the time the itemized filing $ topped $833k that included interest, late fees. I was looking to this property for the purpose of educating myself on foreclosures from the Note perspective - not really looking to "get" the property but I understand from owning Notes that it happens. I was also looking at it to get the history and learn a little about the borrowers through the filing - actually says a lot after reading all the docs. Either their attorney suggested these tactics or they approached their attorney - all in all it allowed them to stay the foreclosure for over 3 years. I was contemplating whether it would even be good to purchase the Note (if) the borrowers were able to continue to give push back as they have done for the 3 years.

@John Thedford At what point did you approach the borrowers for a DIL? Did you have to wait for the final judgement or was it simply contacting them. I found after reading all these docs that several things can delay the process of foreclosure - I almost think the attorneys know this going in and have had the "next" motion paper already ready to file. :-|

do you've now what happened with whomever holds the Note? There is a lot of debt on this property, twice the Note has changed ownership. @Wayne Brooks 

Hello,

I read through all the documents of a house here in Windermere Florida for the purpose of educating myself on some of the nuances of foreclosure here in FL.

The couple bought the house in 2008 and immediately in 2009 was trying to rent/sell, likely in over their heads. They had a 650k note and at some point stopped making payments. 

The 1st document leading up to the foreclosure was 6/2013 with several thereafter like them filing bankruptcy twice, mediation for which the couple did nothing to follow the plan or pay so the trustee recommended to the court to not approve the plan, frivolous filings to the court to stall the process (one documents states they challenged who actually owned the Note in addition to several other challenges).

Now after all of the stalling tactics there is a court date set for a non-jury trial in June-2017. 

Say the court grants the foreclosure giving the lender back the property, what happens next?

Seems like this couple has done everything to stay in the property so can they appeal yet again stopping the lender from taking back the property?

 I understand the formulas. Your statement has an either or but didn't indicate which one you were referring to.