Investors for a 2nd Lien Foreclusure Deed

[Jose I Rojas]

I bought a 2nd bank lien in a Foreclosure; the property is already deeded into my LLC. I planned to pay the 1st
lien lender, take possession of the property, evict the previous owners, and flip the property, but I invested all my liquid assets in other deals.

The property is in Rio Grande City, Texas (1hr drive from Mc. Allen, Texas), a +-2,275 sf home in a 0.52-acre lot built in 2005. According to my amortization calculations, the balance owed for the 1st lien could be +-$105 - $110K, and the property value may be $230K, being conservative.

I’m looking for investors who want to partner with me in this deal, paying off the 1st lien holder and splitting the profits.

[email protected]

[Chris Seveney]

@Jose I Rojas

My recommendation is get the eviction done. As someone who has partnered I would want to know interior condition and more accurate numbers and timeframe before investing

Evicting tenant answers those questions