All Forum Posts by: Martha Blumel

 Thanks Wayne. I appreciate your input. Especially your feedback about  the non performing note. It does surprise me though because the person I got that advice from is a seasoned investor.

Regardless, I will attempt to contact the owner another time. He never responded after the first time we spoke (via both phone and letter). But I will give it another shot. Do you have any suggestions other than my original approach of telling him I am interested in purchasing the property. When I spoke to him he sounded interested, but his lack of response leads me to believe he's had a change of heart.

I also plan on speaking to his neighbor, who I've looked up on the property appraiser as well. So we will see where this goes for any input.

Thanks again!

I came across a vacant property a couple months ago that I am very interested in. I was able to look up the owner and reach him even though he moved out of the area. I spoke with him and told him I was interested in purchasing the property. He told me that they filed bankruptcy and he would like to “get it off the books.” He was going to look into it and I never heard back from him. According to the clerk of courts the BK was in 2007.

The property had a Chase bank sticker on it saying it was being maintained by Chase. I called the number and then was transferred to 3 other numbers. I even sent an email to a department only to find out that it was an internal only email. I reached out to the REO department and they do not know anything about the property.

The interesting thing to me is that it is still in the owners name on the property appraiser. And when I went to the clerk of courts the last thing I saw was an assignment of mtg with Wells Fargo in 2013. Nothing with Chase. 

It was listed on the MLS and expired after one day. I have the listing number, but don't see any information about who listed it.

I also have recently seen a code violations sticker and plan on reaching out to that department. But I am not sure what information I can get from them.

It has been suggested that I call the REO department again and ask them about buying the non-preforming note, but I have hit road blocks with that as well. I saw a post that says I should have a Title Company do an O&E report which I plan on doing, but would like more suggestions as well.

I appreciate any suggestions you can give me.

Thanks,

Martha.

I will try to make it. I'm looking forward to it.  Thanks Jon!

Great idea @Jon Huber  I will certainly try to make it! 

Hi @Brent McQuilkin, I'm in West Palm Beach. Welcome to BP!

Thanks @Marvin McTaw, I appreciate it. It's good to know how you felt about Freedomsoft. I will keep looking around and testing the waters until I find the perfect fit for my needs.

I currently have a subscription to REI Blackbook and to be quite honest with you, while I definitely see the benefits, it is a little overwhelming and overkill for me at this stage in the game. I am sure if I keep plugging away I will eventually figure it out. However, I am in the process of hiring a VA and the one I am currently interviewing has used Freedomsoft. So I am thinking it might just be better for me to move over to FS, since he already has experience.

I appreciate any and all input!

Thanks,

Mar

Thanks Nick. I will definitely contact him!

Do any South Florida investors have a top-notch Lawyer they can suggest that knows Lease Option laws like the back of their hands? Preferably in Palm Beach County, but I'm not opposed to them being in Broward or Miami-Dade.

Thanks for your input! I appreciate it!

PB REIA meets every other Thursday at the Palm Beach Ale House for Lunch and Learn. There are several others too. Tropical REIA, Distressed REIA (in Boca) and BRIC, which is Boca RE investors club, but I think they have moved down to Broward. There are several more. Go to Meetup.com and search for Real Estate Investing and you will see all the different groups. =)