All Forum Posts by: Jason Cobb

I probably have the official terminology wrong as far as "double foreclosure" and should have used quotes prior. The property was foreclosed by mortgage lender, then the government stepped in and shut down the mortgage lender and liquidated their assets. Without knowing the proper terminology, it simply appeared like it was foreclosed on twice. The two bedroom, one bath house had a building attached that consisted of a two car garage, a workshop, and a cold storage room. The bonus was the adjacent empty lot. All for $16,000.00 cash. After major rehab, It is valued at $58K. The empty lot at $9K. Lot of learning went into the project, but paid off when looking for value in apartment buildings! -J.

Howdy! Freshly posting from Charleston, Illinois. We currently own one property which we bought on a double foreclosure, rehabbed into a beautiful home rental. Cash flow is low, but value is high. Currently working on a single parcel, two apartment building, 6 unit each purchase deal. Our first outright buy of operating apartments. Learned a lot, still feels like I need to know more. Would love to learn more. -J & S Properties.