All Forum Posts by: Account Closed

The reason this happened is the HOA lien is like a second lien. They can foreclose but they won't get ownership of the property unless they pay off the 1st loan. As another example if you buy a property at a tax deed auction it is similiar to a HOA foreclosure, you are buying the property with all other liens on the property. The only way to get this liens off is to hire an attorney to do a 'Quiet Title' but getting a first mortgage to release their lien is not often going to happen, unless they walk away from the property with the lien still on it. This is called a 'zombie property'.

If paying off all the liens on the property still makes this a good deal then, yes I would pursue it.

what ever it takes. Any source is OK. But it has to be ok with the seller. As an example bank REO's is always a sticky wicket to deal with.

It's best if they are not there. You don't want your potential buyers talking to the seller.

You need to join GOREIA if you are serious about being an investor. It is the best local organization to join to network with experienced investors like myself which has 17 years at full time investing. The group also has many training sessions about many issues important to investors. Tomorrow nights meeting is talking about contracts.

You need to join GOREIA if you are serious about being an investor. It is the best local organization to join to network with experienced investors like myself which has 17 years at full time investing. The group also has many training sessions about many issues important to investors. Tomorrow nights meeting is talking about contracts.

Yes that is true but you can set up the Operating Agreement as to exactly how you want to set up the decision making. The group decides those details. 

Where are you looking? I have 55 properties in Central Florida mostly at great wholesale prices. 

No but I use realytrac.com to get that info. I pay a $49.95 a month fee to get this info. 

The assessors info will show you the owners name and address. If it is different than the property address that shows you that it is NOT owner occupied. 

I don't use lists to get my info. I go directly to the county assessors office and order a CD with all the details of all the properties in the county. I am in Orange County (Orlando) FL and the list includes over 400K properties. It is a very large list so when I upload it into my spreadsheet, it takes quite a bit of time. But that is dependent on the computer's memory. 

Anyway it only cost me $25 and I get this once a year. Now I can easily sort it by any means I want. Also I'm not restricted to sending out mailers only once where most list provides require. 

I sort this list by many different ways based on what my target market is.

You can set up a LLC and have the people as members. You can be the 'managing member'. This is less costly than the above recommendations. The operating agreement spells out all the methods of making decisions about a property.