Have to reschedule auction for the 6th time

[Patrick Desjardins]

One of our notes in Florida just went up for auction for a 5th time and once again it needs to be rescheduled.

This has to be some kind of record?

Every time this happens, we have to see the judge and waste another 4 months. So the foreclosure has been going on for nearly 6 years.

Guys remember note investing is easy until it's not.

[Patrick Desjardins]

Originally posted by @Chad U.:

Yessir, and it does amount to a lot. 6k a pop. But as was said, there has been so much litigation and so many court proceedings that it doesn't even make me break even. Plus the opportunity cost of losing 3-4 months each time.

I don't know why I made this post really. Part venting, part warning that it's not always sunshine and rainbows. I know that you know that already but some people might not realize how gruesome it can be. There were many months where this stupid note was costing me 1-2k a month in legal fees (and due to the circumstances yes, we had to go forward) and the old cliché about "you only need to set aside 3k for legal" would have sent me straight to bankruptcy.