All Forum Posts by: Leland Titus

Hello I was approached by someone who would like to buy a certain piece of property. This property has been abandoned for quite some time. It took me a little while to figure out that it had actually went through foreclosure in 2004. The property went back to the mortgage company. The mortgage company later went under and was taken over by Wells Fargo in about 2008. Also somewhere in this time between 2004 and 2008 the address of this property and all properties around it in Santa Fe were changed. I believe that due to the address change and the company going under that this property has been lost to the world for 12 yrs and that whoever owns it probably Wells Fargo has no idea that they own it. I spoke with the county tax assessor and they haven't even charged taxes on it since 2006, this property truly fell through the cracks. There is a back tax bill of 250.00 can I pay this and file a lien? any ideas or help? I know that if I reach out to Wells Fargo there is little to no chance of finding anything out so I am looking for a creative way to buy this forgotten property for my client. 

Hi Petr I am from Santa Fe as well I am a realtor but also a property investor I currently have 2 long term single family rentals a fourplex of apartments and am in the middle of a flip. I have some experience with most real estate situations and would love to grab a coffee sometime and discuss goals dreams and plans. you can find my contact info on my profile. sorry its been a while since I have been on here and I dont remember if I'm allowed to post it here. 

@Nick Paul

I've done a few deals this way and currently own some redemption rights here in Santa Fe. The determining factor of whether the property is a deal or not comes down to what the bank pays for the property at auction. This is the amount that the person being foreclosed on has the right to redeem for. You can purchase these rights from them and redeem the property yourself. you then negate the banks ownership and the home is yours.

Good job @Georgia Baker! Make way for Georgia Shes gonna do big things! I'm glad you are in a better position. investing takes practice and you are well under way to obtaining some well deserved financial freedom.

Fourth degree felony in NM call it practicing Real Estate without a license

@Yvette Johnson Great Idea! This can be the best way to start investing. Not only do you get into your first investment property, you may make some cash flow in an ideal situation, you get great a great tax shelter, but you also lower your cost of living significantly! 

Thanks @Georgia Baker and @Micki M. I appreciate the recommendation. John I would be happy to help in any way I can. I'm always happy to help with advice even if we don't end up doing business. 

@Charlie Fitzgerald

Non owner occ 4 units I may be able to come up with the extra 5% just not completely sure. 

I am seeking private money in Santa Fe NM 80% LTV 200k purchase price. This would be a have and hold property looking for a 3 yr call. Please let me know if you or anyone you know may be interested and the cost of this money. thank you.