All Forum Posts by: James Little

From my understanding of the neighbors there have not been any other cars there at all. I'm going to go on a jog after work and check out the meter to see if it's moving. That way I can tell if the power is on or not. Anyone else?

Found a potential lead...

Tall grass in the front yard with notice on the door.

Hasn't paid taxes since 2012.

Assessor has the owners name as still living at the home.

I found out that the house does have a morgage placed in 2009 when they bought it. I even have the bank name too.

I've tried googling the woman's name a bunch to find out some more info and there is not a lot there.

The woman a few houses down said she hasn't seen anyone really in the 3 years she has lived there.

What other options do I have of tracking this woman down? I'm pretty sure she is only in her 30s so I wouldn't think she would have passed away yet?

What do Yal think?

Next steps besides calling the bank? (They are closed today)

It's looking good so far! Talked to city and It is zoned to allow a double wide on a permanent foundation! All the restrictions on the neighborhood are good to go! Going to talk to the lawyer Tomorrow to get the title check done and warranty deed set up if everything checks out ok with the title. Talked to the owner and he is "calling it" in escrow incase anyone else is interested. Hopefully be closing with in the next week and I will release more details to the BP community!

The property is so cheap that I could sit on it for a while and I really don't even care. It's gonna cost significantly more to get a lawyer to write the warranty deed than it will to buy the place. The main goal since I can sit on it is to seek out a motivated mobile home owner in the area and buy their place and move it on there and try and seller finance it and collect lot rent. There is city water and sewer also. Could there be an issue of the shear lot size to where it couldn't be built on anymore or for a mobile to be placed on it dude to law changes? County planner should know so I'll call them on Monday. The homes next to it are narrow but really deep so that kinda worries me a little bit.

I found a vacant lot in west Tennessee for a screaming deal (I believe). It's almost free it's so cheap. The lot is fairly small and the previous owner was in the real estate game for a while and this is some of the last stuff he is tired of dealing with. There was a small house on the lot at one time but the renters were cooking meth so after much fighting with the courts they ended up tearing down the house. The owner would take care of any back taxes owed after a lawyer did a title search and what not if they found any issues he said he would pay them. There are no utility leins because when they tore down the house they cut the lines at the road so it would have to be reran if built on. End goal would be just flip the lot or put a mobile home on it and seller finance it and collect lot rent. It's zoned residential so according to the county I believe I can put one there. Where I'm confused is that the tax assessor web site lists the lot as "deed acreage:0, calculated acreage:0, land units:1 The home is listed on the assessor website as in a subdivision so I'm thinking that might be why? Is this too good to be true or should I pounce?

I hate to say it but I think this is a topic most people would avoid... Based on the fact that it could cut a large percent of investors out of the business. History shows that it repeated its left. Bump.

I've been doing a lot of reading on BP, listened to many podcasts, read some investing books, and done a little research outside of BP over the past year. Of everything I have learned I still have a few questions regarding the market crash of 07-09. I know: 1. Banks had risky lending practices (lending 100% ARV some times more) 2. Market was hot so lots of speculation in terms of investment practices 3. Adjustable Interest rates where a thing for the uneducated bc of the low initial % So for the general consumer they bought a house they couldn't afford bc of the great rates and financing... Market started tanking pushing interest rates up causing the consumer to not be able to afford the new nice house so they foreclosed or they lost their job causing them to foreclose. Investors bought on speculation that the market will continue to rise and they could make cash quick in a couple of years after their appraisal jumps some. Then when the market crashed their "new investments" lost value and they foreclosed. So I think I have an understanding of what happened but I still don't know the break down of what "investors" lost it all and what "investors" survived the crash. And why they lost it and why they hung in there ( other than the reasons stated above). I know a lot of people investing today did well from the crash due to jumping into the real estate after the crash and buying up houses but what happened to everyone that was in the hustle before everything when to the toilet?