All Forum Posts by: James Richter

agreed. That market is on a steady pace. Houses don't stay on the market long if they are priced fair. Multi family units as well. I have noticed a slight softening in august but nothing to get alarmed about, maybe in a year or two we'll see a buyers market and along with that some solid opportunity for acquisitions.

I'm trying to track down a few property owners in Ramsey county. If you're a subscriber to their online lookup service please contact me. 

I assume that the bank will repossess the house and sell it for a loss after an attempt to short sale it?

So is there anyone else out there that could shed some light on this situation? Does anyone help with the debts on this guy's house? I'm curious what happens in a situation like this? 

Yes Steven I agree. I can't screw myself to help another. 

Rick thanks for all of your help. 

They were right. The BP community does help fellow investors out.

What other numbers are you looking for? 

I am currently in the process of evaluating a deal involving a home that has a balance of two mortgages totaling 61k. the previous owner took out a second mortgage to pay off all of his toys. I find with all the deferred maintenance on the home that it is worth approximately 32k. in a situation like this does the deceased owners life insurance, estate liquidation or retirement plan ever cover some of the debt still owed on a property? I would like to help the father move on but if the numbers don't work out I can't help him as much as I would like to.

Thanks for reading everybody!

So right about now would be a good time to get my behind in gear. I ave been open minded to different avenues to get started. Some how I keep finding my mind focused on this strategy. Thank you for sharing your opinion.

Please keep us posted on the status of your efforts. I am interested in implementing this strategy in my area so it is something I believe I along with other members would like to hear of as it develops. How did you acquire your delinquent list? Did it cost you money in your area? 

Best of luck to you! Here's to abundant deals in your future!

I would like to start searching for some motivated sellers in my area. I was thinking that a delinquent tax list would be a good lead. Any thoughts? Am I on the right track? I believe this is a good avenue to pursue but I admit I have no deals under my belt so I figure I should ask more knowledgeable investors.

any advise is very much appreciated.