All Forum Posts by: Jeff Foulds

@Braden Smith, thank you that's very nice of you to offer! If there is anything I can help with too, please let me know. Currently, I'm getting educated and my feet wet in the area. Are you a part of the N.O. REIA?

Hi @Malcolm Darensbourg & @Braden Smith, I'm living in New Orleans now and prepping to get started here in investing Phase 1, also in Buy & Hold.  I'm a little behind you guys on the trajectory, but good to hear from someone else in the area! 

@Account Closed Agree.  Seems like it would be a good idea on the first few to cross check what a reputable title search company would find against your results.  You may have all the facts, but that peace of mind for the first few to justify your research ability wouldn't be bad IMHO.  And, for the margin potential for some auction properties, it may be worth it and a drop in the bucket.  Of course that depends on what kind of margin you're looking at

@Derek Sziga

From my reading of posts here and albeit limited experience, you're correct that the 2nd lien of 75k would be "wiped out" by the 1st lien (senior). A credit card creditor cannot place a lien on your home because it is unsecured debt:

"First, as a general rule, the creditor must get a court judgment against you. ... Generally, a "judgment creditor" has the right to do this. But where your financial interest in the house is a low amount, your interest is protected. So a creditor is not allowed to place a lien on your house."

Mechanics liens are another matter and seems NA for you. But you can find that info easily enough on a google search.

Did you have the title searched or DIY?