All Forum Posts by: Craig M.

Foreclosure processes and laws vary state-by-state so you need to be familiarize yourself with your state law.  Understanding title and lien priority on a foreclosure is critical.  General real estate law holds that liens have priority in the order they are recorded, but there are exceptions.  If a senior lien is foreclosing on property then any junior liens will be eliminated but would receive proceeds from a foreclosure sale to the extent they exceed what is owed on the senior.  I'm not a lawyer and again would encourage you to understand your state law.  

Yes. You need to consult your state laws with respect to how you must treat a former owner's possession. I acquired an REO asset in California where the former owner was still residing in the property after foreclosure. Following eviction, in our tenant friendly state here you have to notice the resident, store their property and if it remains unclaimed advertise for a public sale and sell the property on their behalf.

@Zachary Myers I'll take a look at your Leimert Park deal if you're still looking for a buyer.  Really looking for units in greater LA and can buy all cash if necessary.

Congrats on your recent closing in Inglewood. Even before the NFL announcement the city has had some nice momentum going for it between the forum, future rail line and Wilson Meany master plan redevelopment at the former Hollywood racetrack. I'm actively looking to expand my LA holdings and Inglewood is on my radar, but probably only North Inglewood. Do you think the deal you bought was basically market? Value add potential?

I literally just joined BP 5 minutes and saw this meetup.  I'll try to swing by.

I've been listening to the podcasts and just got around to joining the BP forum.  Primarily joining to interact with others as I look to grow my personal real estate investment portfolio but I also work in acquisitions for an institutional commercial real estate investment firm and have a lot of experience to hopefully offer the community.