All Forum Posts by: Kyle H

@Patrick L. We are seeing the same type of numbers here in Sarasota. It's shocking what people are willing to pay for some of these properties. 

@Reddrick Whatley Let's have a discussion. 

Congrats @Mike T.!

You are based in Tampa, but buying rural land in CA? Are you flying out there or everything is via phone?

What was your cost/sq ft to build?

Outbid today.
-6 properties
-3 back to Plaintiff
-2 3rd party bidders @ full retail
-1 3rd party bidder @ above what we were in at

@Wayne Brooks@Brian BurkeThank You!

Property is being auctioned, O&E and Pacer show a BK that is not discharged. Although, I'm not even sure this is the same person as the borrower. My title company didn't have an answer today since they are in FL and the Pacer report is showing a BK CO. Although one report is showing a BK in Orlando. Docs are in the dropbox folder below. 

What would my next step be?

https://www.dropbox.com/sh/9uiqjkmyz1ah35t/AADT2vU...

Thanks, 

Kyle

@Chad U. We had 7 today identified, 4 were cancelled, 3 were bought back by the lender at 95-100% of market value

Not over judgement amount, but over market value.

@Brian Burke is spot on with the process. I see many of these being bought by 3rd party bidders at 85+% of market value. Once you figure the 1.5% auction fee, closing costs, etc. I have no idea how they are making money here vs buying from the MLS. Deals can be had, but it's a numbers game.

Thank you all for the feedback. You've confirmed what I'm doing now and what I'm seeing firsthand.

Hi Robert,

Bidding the final judgement amount, which is over market value many times.

We get O&E's, I also look through the local clerk of court. If it's a simple one I don't bother my title person (they own a title company). If the property has been transferred, quit claimed without a proper title company, multiple liens, etc I refer to my title agent for a 2nd look.

Kyle