All Forum Posts by: David Torres

@Nick Paul I sent you a PM.

 It just means that the title company and Seller do not accept signatures on certain documents (I.E. the deed, pretty much any documents signed at the title company).

Also, while most sellers accept digital signatures, HUD requires live in person signatures and has very short time lines (you have to overnight the docs to their field office).

@Nick Paul great question and I am glad you posted it!  I have purchased several redemption rights deals.  They can be pretty sticky in NM, but also profitable.

Here is the quick and dirty rundown of how it goes in NM:

1. Seller gets foreclosed on gets a notice of lis pendens
2. House gets sold at auction (usually on the county courthouse steps)
3. Special Master Submits Report
4. Judge approves sale (this is when the clock starts for the redemption period)
5. Property owner has the right to redeem the property for 30 days (or assign their rights)

There are a ton of nuances and ways to get burned (I.E. Owner selling redemption rights to 2 people OR shady operators forging docs).  Luckily, my wife is an Attorney and has helped me work through a lot of the major problems.

Feel free to reach out and I can give you some more clarification.

Nice work @Aaron Hollingshead!  What did you decide to do with the extra detached garage on site?

Welcome to the website!  Check out the podcasts for inspiration and direction. 

Also, make sure to check out the local REIAs for local advice.  We have 2 active REIAS.  The first is Albuquerque Congress on Real Estate (http://www.meetup.com/ACRENM/) the other is the ABQREIA (http://www.meetup.com/ABQREIA/).  

Good luck and let me know what I can do to help you out.

@Carson Brickey check out The Savvy Landlord Radio Show for a great podcast from a local Oklahoma Guy!  Good luck with your journey.

kaplan is the only game in town....

Security has Lawyers and have been very responsive on the deals I have done with them.  Good luck.

Lee, you will probably need to go through an escrow company.  The escrow company can draw up most of the docs for you.  I have used Sunwest and Security Escrow.  Both have their positives and negatives.  Let me know if you have any questions.

No BP meetups scheduled.  Check out www.abqreia.com for the next meetups in ABQ. @Wade Mcmahan, if you can't find a REIA in Cruces, there are a couple in ABQ worth attending.