All Forum Posts by: Cheryl James

I always assume they're that bad. It is much easier when you can at least see the inside.

Hahaha about the animals. That's the house I bought, although I knew full well what I was getting. This is me sweeping manure out of mine.

I'm buying two parcels. I am planning on getting quit claim deeds for ease and expediency. 

The previous deed has the name of two dead parents and the son with rights of survivorship.  

If a new quit claim deed is created and filed, what issues could arise? Is having copies of death certificates on hand enough? Can death certificates be filed with the deeds?

Thanks!

@Chris Seveney's Podcast is fantastic.  Good Deeds Note Investing is the name.  I started at the beginning recently and am still about a year behind in listening but I have gotten great tips and learned a lot.  Not to mention that they are a great duo (Chris and Gail) to keep me company on my daily commute.

It might depend on who owns the debt.  Most banks are not very flexible.  Most private investors are somewhat flexible.  The reason I bring this up is that I was just this week considering purchasing the debt of a reverse mortgage that is in default.  

Best thing you can do is get on the phone and see what your options are regarding paying it back.

Great. Thanks @Dan Krupa

Thank you @Pat Jackson, @Robert Schimming and @Marc Edwards

Thanks @Pat Jackson but I'm actually purchasing a defaulted note so an attorney will need to be involved most likely.

Hello friends, I'm in need of a referral for a great RE lawyer in St. Joseph or the Kansas City MO area.  Ideally I'm looking for a foreclosure attorney.  I'm in NY and currently have no contacts there.  So if I take this deal, I'll need boots on the ground and possibly a Realtor as well.  Thanks for your input.

Great advice from everyone involved.  While a partial is a good safe bet, non-performing would give you more opportunity to truly help people through a workout.  So you have to decide between your risk tolerance or altruism.  Perhaps you could do a little of both?  Sounds like you're in a great position either way.

Criteria will depend largely on the asset. Performing vs NP. 1st vs 2nd. Ultimately what is the end goal? I am starting in the NPN 2nd space. I do not want to inherit properties through foreclosure, so I will be focusing more on the ability of the buyer to pay and the equity plus likelihood of an upcoming sale .