All Forum Posts by: James Clark

I just flew in from Sioux Falls SD, staying down here for a month or so, looking for deals or network, anyone from Florida west palm beach area, I'm hopping someone knows of a meet up or something. Thanks everyone

What type of work are you looking for?

Sounds like you did not do any homework and its going to kick you in the butt and it sounds like you gambled on this one. 

@Chris Pohlson

Under South Dakota law, you can generally redeem the home within one year after the sale date (S.D. Codified Laws § 21-52-11). However, most residential mortgages of properties consisting of 40 acres or less in South Dakota are subject to what’s called the “One Hundred Eighty Day Redemption Mortgage Act.” These types of mortgages are often referred to as “short-term redemption mortgages.”

How to find out if you have a short-term redemption mortgage. To find out if you have this type of mortgage, check your mortgage contract. The first page of the document will be titled “Mortgage-One Hundred Eighty Day Redemption” and there will be a clause in the mortgage stating that this law governs the mortgage.

A short-term redemption period lasts 180 days. If your mortgage is a short-term redemption mortgage, you can redeem the home within 180 days (six months) after the purchaser from the foreclosure sale records a certificate of sale in the land records (S.D. Codified Laws § 21-49-30, § 21-52-11).

Redemption period for abandoned homes. Under the law, you are entitled to live in the home during the redemption period (S.D. Codified Laws § 21-49-12). If you abandon the home, the purchaser can ask the court to reduce the redemption period to 60 days (S.D. Codified Laws § 21-49-13(8), § 21-49-38).

How Much You'll Have to Pay to Get Your Home Back

In order to redeem, you must reimburse the purchaser for the price paid at the foreclosure sale, plus interest and any sums the purchaser paid to protect its interest in the property, including (for example) amounts paid for:

• taxes
• insurance, and
• payments on superior liens (S.D. Codified Laws § 21-49-34, 21-52-14)

The Same same applies to banks or any lien holder.....so for SD its 180 days

keep studying .....and network. When I started I read and read and studied and studied. Then I networked with other people that was a investor or in the real estate field. And that did not happened over night. I worked for free a lot. If you want to be financial free, its going to take a lot of studying and networking . rapid city is a great place for buy and hold, last time a checked it was hard finding a house for rent 

This house just sold for 25,000 a month ago, why are u reselling it so fast? You have the price for 31,000 but in your ARV, Rehab and closing ext you have the price for 27,800 why?

I work for the Renford Group and my clients are seeing 8% in as little as 8 weeks, and the great part is you can invest for the short term or the long term. Just check it out for yourself at www.therenfordgroup.com Message me for more Information. Thanks

We have meet ups here in Sioux Falls. Let me now if you want the info

Does anyone know where I can find out where I can find the info I need on this subject.. Thanks.

If I want to invest in a different town or even in my hometown, what do I look for?

How do I know if my market is hot, how do I find out if a new business is opening up in a area or if there is more of a demand for apartments ext... What do you guys or lades look for in a market or area? Thanks