All Forum Posts by: Neil Goradia

@William Godbe, I've owned a rental exactly there - between ritter and arlington, just south of 21st - for about 11 years now. That neighborhood on my street has gotten better over the past few years, but much of that is only due to the current mix of tenants/owners on the street. I'd say in general it's a solid C area. If you are looking at a 3/1 in decent condition you could probably do better than 50k but I understand the price if its from a turnkey company. You should expect about $700-$750 in rent depending on condition and square footage. Let me know if I can help with anything.

@Kevin Vincent Sorry my whole family got sick and I was at home helping them recover. I'll try and reach out when I come back in May and hopefully we can meet up then!

@Rita Medeiros Thanks for the invite and sorry I couldn't make it. The whole family got sick and I was at home being the "doctor". Hope it was a productive meeting. I'll try to reconnect when I come back in May.

Hello all, I know I missed the event, but I am visiting Florida Feb 13-20th, and should be available to meet up for coffee or a beer after the 16th. Anyone up for meeting to talk real estate? I have experience in lots of areas, wholesale, flipping, buy & hold, and land development. Let me know!

@Jonathan Azoulai, I live in Indianapolis but am visiting Miami Feb 13-16th. Looks like I'll miss the event, but was wondering if anyone is up for grabbing coffee or a beer and talk real estate? I have experience in wholesaling, flipping, buy and hold, land development, and a few other odds and ends. Looking forward to meeting some of you guys! 

Perfect, thanks @Christopher Phillips! I'll give it a try. I think there is enough equity here to make it work.

@Christopher Phillips, thank you for the information!

So there isn't any rules against having them sell the house once the foreclosure processes has started, right? Just don't want to buy something that will show up as invalid afterwards. Is it really as simple as buying the house from them to stop all the proceedings and resolve the situation?

In her summons letter, it says she must respond with an answer within 20 days to ask for a settlement conference, otherwise the courts may grand a default judgement. I was probably just going to call the plaintiff attorney on the summons.

Also INREIA is a good one to joing as well on meetups.com

Received a pre-foreclosure lead and need some help:

Property details: 3 bed, 1.5 ba 1200 sq ft home, move in ready. Market value is $80k-90k, and market rents are $900-1,000/mo. Attempting to get under contract for $63k (mortgage payoff amount). Delinquent owner is still living there and must give their ex-husband a 30 day move notice with new address before they can leave (due to situation with their child). Owner has stopped paying for the last 3 months and just received a "summons" in the mail but with no date for a hearing.

My intention is to wholesale the property, but I'd like to make sure I'm doing everything right and most importantly not disappoint the owner as my goal is to help her avoid a foreclosure on her record and for it to be a win-win.

Does anyone have a step by step process of a foreclosure that I can reference so that I can pin-point where in the process I am? I also want to make sure I am able to wholesale the property, and that there isn't a rule somewhere that says it must go to sheriff sale first, etc.

The mortgage company says I need to have them add me as an authorized third party to get information about the account. Once I get that access, what do I need to ask other than payoff amount? Anything else I'm not thinking of here?

Thanks!

@Derek Gendig, wow. So money orders can be stop ordered without the return of the original check? Very surprising! Sorry I am no help in solving your situation but a good reminder to the rest of us to not count the money til it is deposited.