All Forum Posts by: Earl G.

Thanks @Dion DePaoli. Great info.

@Patrick Desjardins Thanks for the report.  For those of us who missed it, are there any recommended events that take place each year?

@Bill Gulley- Thank you for the advice. Will do.

Thank you to @Bob Malecki, @Dion DePaoli, @Bill Gulley and @Jeff B.for the guidance. I've officially passed on the referenced note after finding even more issues.

The better news. With asking questions here and at my local REI group, I met a very experience note investor and will be meeting on Friday to discuss a JV deal. Hopefully its on to better fishing and learning opportunities.

@Dion DePaoli - Thanks for the confirmation.  While the learning curve may be steep, I like possibility of moving away from the typical crowd.

@Bob Malecki - That's exactly my chosen approach.  I do like local, but I will look into the non-judicial states as well.

 Thanks Bill.  I'm absolutely going to work through a Servicer.  I'll keep Dodd-Frank in mind as well.  I think a lot of people could get in trouble there.  Interesting angle on the commercial seller financed deals.  I'll need to investigate that a bit further. 

Using Orlando to define your search could yield a pretty large and diverse area.  I've lived here for a while, but am relatively new to investing in it.  I'd determine if you're N, S, E or W of Orlando and start looking in that quadrant.  To get cash flow, I would look in areas about 30-40 minutes from downtown.

Thanks @Bob Malecki.  The collateral file didn't have a Title Policy from the loan's origination in 1990, but the collateral file did include one from a few years ago.  When they tried to Foreclose based on the borrowers failure to pay 2 years of property taxes and payments.  Hopefully this deal will close, I can get to work with the Homeowner and bring everyone to an agreeable solution.

@Bob Malecki this is the 3rd non-performing note I've reviewed in detail, and they all seem to be quite a mess to sort out and gather a complete history.  Would you consider this typical?  Perhaps I'm fishing in the wrong pond.

One of the local REI groups is CFRI. There is a General Meeting at Edgewater HS tomorrow. The general meetings can get a little pitchy, but use it to find out about membership, vendors and the invaluable "Focus Groups".

 Thank you.  Yes, it's behind about 4 years and my tax search indicates I'd need to include a 2nd year of back taxes if I proceed.