All Forum Posts by: Richard Bull

This is a forum for our local meet up in Santa Clarita, CA for BiggerPockets members and other REI groups

Our focus in this group is on multi-family OOS investing.  We share ideas, tactics, contacts, challenges, stories, and general information about out of state properties and strategies. Our objective is to meet in Santa Clarita a couple of times a month. 

Thanks @Chad U. I am going to explore the refi option a little further! 

@Chad U. thanks for your help and insights. You definitely know some of the ins and outs here. This was my first investment property and I went off the advise of a friend who was more experienced in real estate investing. Needless to say, this was not a smart investment. It happened so fast and I was given the Deed of Trust, which I was told was the same as title and shows that I would become the property owner. Of course, several years later now... and I am a lot more educated in real estate today. 

The Deed and property is under an LLC. I have never received any correspondence from a bank or lien holder. If any thing, they may have been trying to contact the previous owner who had the original mortgage on the home.

I just did not want to reach out to the bank/note holder just yet because I did not want to speed up the process. Luckily, I have been able to collect a fair amount of rent and have had control of this property for a lot longer than I would have originally anticipated. 

I would love the opportunity to keep this property, if the note could be sold to me at a discount. Seems like it is time that I start to track down exactly who the note holder is. 

I was wondering if you knew of anyone that specializes in this in Nevada. 

Thanks again and all the best!

- Richard

Help. I have a property with a paying tenant for the past two years in Nevada. Unknowingly at the time, I was very new to REI and had purchased an HOA foreclosure and the property and later came to find that it was a clouded title. The note was with Wells Fargo and has since been sold off. It is a non-conforming note.

Looking for an expert to help me buy this particular non-conforming note and take over the payments for this property. 

Any recommendations or experts in the note investing field that I can speak to?

Thank you!

@Jim Bowser wouldn't the note holder or bank have the first lien on the property, and the buyer of this deal would only be the property owner with a deed, but not with a clear title? Is this correct? It seems to be the way I am reading it, but I may be missing something here. Please advise. thanks!

@Logan Allec can you please send me the link to the that 4 unit in Santa Clarita. I live here and have only invested out of state, however, a 4 plex here in my area, would be very interesting. Thanks! 

Looking forward to meeting everyone on Sunday. 

Hi @Anthony Pimentel thank you for setting this up. Sounds great and looking forward to it! 

April 15th works for me also. Do we have a time and place in mind?

Thanks @Andrew Postell will do.