My Contract For Deed / Land Contract Notes update

[Jay Raught]

In May 2016, we purchased 4 CFD's in Ohio. I wanted to share a brief update on what has transpired since then. The CFD are located in Columbus, Akron, Toledo, and Dayton, they are no longer notes, they are now REO's....well three of the four are.

Here is a snippet of what is going on with each property.  

Columbus - after receiving collateral and the deeds in our possession, the property was abandoned / trashed and the grass was 3 feet high.  Through connections in Ohio we found an awesome realtor, and  a contractor who is handling the rehab on this property. We secured funding via a hard money loan and will put a mortgage on this when finished.  

Dayton -  What looked like an occupied property ended up being vacated recently. They even left their vehicle behind. The borrower gave up property for nothing in return.

Toledo - Working through a Deed in Lieu process, payment pending verified clean out and clean up of home.

Akron-  We know someone is living there but have not responded to the door knock so we are on to the next step in the process....

I wanted to share this story so you can see how much things can change in a few months. Even from due diligence to receiving of collateral!!  It has been interesting to say the least!!!