All Forum Posts by: Charles Weisinger

What does the following mean? Am I buying the debt or the property at sale?

TRUSTEE'S SALE OF 2061 ROYAL FERN COURT 12B TRUSTEE'S SALE OF 2061 ROYAL FERN COURT 12B Reston, VA 20191 In execution of a Deed of Trust in the original principal amount of $212,100.00, with an annual interest rate of 12.1500% from BRIAN DAVID BROWN dated August 26, 2005, recorded among the land records of the Circuit Court for the COUNTY OF FAIRFAX as Deed Book/Instrument # 17705 AT PAGE 2027, the undersigned appointed Substitute Trustee will offer for sale at public auction in the COUNTY OF FAIRFAX, on the courthouse steps at the front of the Circuit Court building for the County of Fairfax located at 4110 Chain Bridge Road, Fairfax, Virginia on January 30, 2007 at 11:30 AM, the property with improvements to wit: APARTMENT NUMBERED 2061-12B, TYPE B-R, SOUTHGATE CONDOMINIUM, AS DESCRIBED IN THAT CERTAIN MASTER DEED ESTABLISHING A HORIZONTAL PROPERTY REGIME WITH ATTACHED PLATS DESIGNATING THE RELATIVE LOCATION AND IDENTIFICATION OF EACH APARTMENT RECORDED IN DEED BOOK 3912 AT PAGE 254, AMONG THE LAND RECORDS OF FAIRFAX COUNTY, VIRGINIA, AND ANY AMENDMENTS THERETO HEREAFTER RECORDED, AS PERMITTED BY PARAGRAPH F.9 OF THE SAID MASTER DEED. and described in the above Deed of Trust. (Tax Map No. 026-1-06-40-0012-B). THIS COMMUNICATION IS FROM A DEBT COLLECTOR. TERMS OF SALE: ALL CASH. A bidder's deposit of $21,200.00 or 10% of the sale price, whichever is lower, will be required in cash, certified or cashier's check. Settlement within fifteen (15) days of sale, otherwise Trustees may forfeit deposit. Additional terms to be announced at sale. Loan type: Conventional. Trustee's File No. 06-102034V. PROFESSIONAL FORECLOSURE CORPORATION OF VIRGINIA, Substitute Trustees, C/O SHAPIRO & BURSON, LLP, 236 Clearfield Avenue, Suite 215 - Virginia Beach, VA 23462 (757) 687-8822. Pub Dates: JANUARY 11, 18, 2007

thanks, so out of state now works for you?
see a bad 3 bed 1.5 bath town house 20 miles from where i live is 190k.
i know i could do some much better else where.
Vegas, Tucson, Central Florida, Carolina, I know would have a better return.
but i do like the job growth of northern va.

Thanks for the help.

its very expensive in northern va, i was thinking about investing out of state.
do you have any horror stories, so I will stay in my home area?
What are the major pitfalls investing out of state?

i use weichert.com , craigslist.org, washingtonpost.com to find my properties.
i live in northern va.
I have no idea how to specifically search properties that are real estate equity owned by banks.

Please help.

Excellent , Excellent, I knew someone would appreciate my code.

Can you debug this code?
I don’t have a good C complier.
Please help if I am incorrect.

int main (void)

{

if (you don't own your own house)

if (you don't have good credit)

fix your credit();

else if (you don't have enough for 20% down for your house)

save money till you have 20% of the downpament();

else

buy your house();

if (you don't have a rental property)

if (you don't have good credit)

fix your credit();

else if (you don't have enough for 20% down for your rental property)

save money till you have 20% of the downpament();

else

buy a rental property();

while (True)

{

if (all you rental properties are not currently rented )

rent your vacant properties till then are not vacant ();

else (if all your rentals are not vacant)

{

if (you don't have good credit)

fix your credit();

else if (you don't have enough for 20% down for your rental property)

save money till you have 20% of the downpayment();

else

buy a rental property();

}

return (wealth);

}

i bought and have been vacant since November 30th. trying to find a tenant in the winter, 20 miles from home, and taking 9 days vacation in Austria, were not the ideal setup.

if its too good to be true, then it probably isn't.

and

a fool and his money are soon parted. the most valuable thing you have is your credit. don't blow it and don't share it with anyone ever. you might as well send all your money to a Nigerian scam.

"in the end - especially if you are buying your first investment property - just go out and buy a house. It doesn't have to be a killer deal or carry fancy seller financing. Just jump in and do it. "
p137 , steve dexter's book about real estate debt.

personally for me , every thing i have seen is get started. the sooner you start the better.
1. learn every day , read everything you can.
2. don't buy those real estate seminars, any public library has all the information you could ever need.
3. join your local reia group , (I have yet to do this step)
4. clean your credit up.
5. don't buy over your head. you should put at least 20% down and if its vacant for 6 months , you can handle the expense.
6. enjoy the ride, more millionaires and conversely more bankruptcies are created through real estate. be smart.

thanks, i feel the guy I got is okay.
I just wonder if he bothers showing the place in comparison to the houses he is trying to sell.
I am going out of the country from 12/23 to 01/02 so i hope he gets me a tenant by the time I get back.