All Forum Posts by: Benjamin Haberman

@Saravanar Boopalan

The pay is great. Always on time. Direct deposit.

The tenants rarely ever leave. Almost zero turn over.

Cons?

Cockroaches.

Hello,

I am looking to purchase a second lien at a sheriffs sale in New Jersey. I researched the records and the first lien has also filed a lis pendens.  Original (first) lien was issued in 2003 for 30 years/set to mature in 2033 for $75 k. So knowing this, the $50 k second lien is appealing knowing that the first lien wont be that much and there is still about $100 k of equity in the property. I was just curious of a few things though and was hoping the BP community could help me out.

After bidding and winning on the second lien at the sheriffs sale, is it a simple process to get in touch with the first lien holder? I know right on the lis pendens doc there is contact info for the attorneys. But I wasnt sure if they were willing to talk to the public in general?

After I win the second lien do I technically have rights to the property at that point? 

Are there any attorneys out there that will walk investors like me through the process so I can thoroughly understand the process? I understand I can run title on the property prior to going to sheriffs sale, which I plan on doing. 

Thanks!

@Yosef Lee Congrats! This is awesome. Very inspiring. When you mention it is a seller direct off market. How did you find the deal?

@Andrew Schutsky

You own rentals in sea isle?

Hello Mya,

I actually went to the University of Tampa. Are there any foreclosures in Tampa that have value add potential? Looking to hold something down there as a second home. Thanks!

Just messaged you.

Jonathon,

Thanks for reply and sorry for late reply. I have not been on BP for a while. I decided to hold onto the properties. Currently in the middle of a refinance. To make sure the tenant would help me out with showings (i did decide to sell one of my singles), i told her i would reduce her rent. She's a great tenant. Also, to ensure she had a place to live, i told her I would sign a 2 year lease before selling.

Thanks again for responding. 

Agreed. From now on, this is how I am doing it. 

I am selling off some of my portfolio that is fully rented (3 duplexes and 1 single). The tenants aren't being very responsive for showings. I don't really blame them. It's a pain. I would think investors (knowing it's rented) would be willing to preview the place during inspections, since it's strictly an investment property. Any recommendations on selling off rentals that are fully rented? Any advice would be much appreciated.

I agree. Thank you