All Forum Posts by: Mark Sargeant

See you then.

Count me in as well. I have already be in contact with a few of you already and am anxious to meet you all in person.

From what I have learned they will have to put in on the MLS first. There was a possibility the individual could stop the bankruptcy but even though he seemed willing to help out in this transaction, he has since said he wanted nothing to do with the property. So having him even going into the bank, let alone signing papers, now is off the table. Since he is going back to Mexico, his caring about the situation has plummeted.

It will eventually turn into just another REO eventually. Maybe at that time I can do something. For now it looks to be off the table.

Thanks for everyone's input.

Thanks Dawn,

I am all over the podcasts right now, and they are great. The shear amount of new information can be overwhelming, but it is a challenge worth accepting.

Keyword alerts have been activated, and I am anxious to network with those in my area.

Having tried real estate investing and spending so much money on Guru seminars and books, it is so refreshing to find a online community which truly brings together link minded people that want to help each other.

I am new (old package new label) to investing. Even though I had gone through the motions in the past, I am getting more advice and resources here than I ever have before. Considering myself still new to investing, I am anxious to find others to help me start down this road and have already established some contacts who wish to help.

Looking for that first deal to quell any fears about the process and feel that this community is just the place for me. The right place and the right time, as "they" say.

So if your in Oregon and can handle a middle aged student, I have never been more ready to move forward.

I have read that a bankruptcy is a kill for the deal, but if the property is the only reason for the bankruptcy would he be able to reverse it to smooth the process? By the way, thanks for the reply.

Found a property 3 bed 2 bath that has been declared vacant by the county. When researching it I discovered that it has a foreclosure notice placed on it last June, but the bank has not acted on the notice.

I tracked down the owner who had claimed bankruptcy, has no other additional debts, liens against the property, and is moving back to Mexico within 2 months. He would prefer getting this off his back, and he has not lived in the property for 2 years but still holds title.

Bank payoff is $196,000 and appraised value (when rehabbed) is ~$230,000. The bank has no current plans to do anything (scheduled).

Is this a prime candidate for a short sale?