Quote from @Louis Calderone:
There are some LLCs in the city successfully using partition to buy properties at a fraction of fair market value. There have been some negative news articles recently accusing them of preying on people in lower income neighborhoods but by reading them you can find the basic process. Typically, they track down heirs to properties that are owned outright but split between many family members that may or may not communicate with each other or even know the FMV for their portion. The process is certainly legal, but the articles have been implying that there may have been some title fraud going on to expedite the process (even in cases where the property was legally acquired). I don't like the idea of taking advantage of anyone, but personally if I found an opportunity like this I would understand the reality of the situation is that if you are able to make a favorable deal, so can anyone else in the market, so might as well strike first and be more reasonable during the turnover process so you can sleep well at night. That said, from the quotes of the few beneficiaries of these purchases that were willing to go on record, none of them are losing any sleep over it.
I hear you. Thinking about it, I think my question is what is the best way to market to any distressed population? Like I said, I have a carrot site. I have Facebook ads too. FB seems to be getting some views but it doesn’t translate into anything. Maybe I just need to do direct mail.
