All Forum Posts by: Pauline Jones

I've been reading a lot of the posts and see that there

are successful investors.  Being new in this area I

thought if I could get a group together to partner

with on deals it would be less risky, has anyone

had experience in this situation?

hi thanks for  the reality check like  most real estate deals or other liens it involves hunting and  knowledge 

Pauline

Hi thanks for your answer, the speaker was saying that you

are buying the judgement lien option for a contingency value

of $1.00  the judgement lien itself could be a mechanics lien,

etc.  discounted, like you say the hard part is finding the

creditor willing to sell for a discount. 

 I see that you are an attorney so you may know about option contracts

and dealing with the title companies.  This is a new concept

to me. It sounds like you know what your doing..

would love to know about some of the judgements your holding

(are any of the properties pending sales?) 

Pauline

I listened to a course by Mike Allen on buying discounted judgement liens options for $1

and then cashing them in when property is sold.  Has anyone done this?

He makes it sound so easy but I tried to find county records and there are

hundreds of thousands, the ideal is to find a property that is in contract

and option the judgement at a discount...too good to be true??

Hi I almost bought a house in Youngstown but the bidding was too active...I was very interested in the sheriff sales in NJ especially in the Highlands area, I had a condo there in the past and loved going back and forth on the ferry..

It was a great escape, I'm thinking other New Yorkers might welcome the escape as well since its so easy to get to...ferry is 1 hour and it lands right in front of the condo, Sandy Hook beach is a block away and there is actual beach access from the condo..

I do airbnb in NYC and am booked till December and thought that might work in Highlands as well.

I checked Airbnb for listings in the Highlands area and they get from 150 to 250 a night

the auction is August 1st I'm trying to line up some investors to partner with I've checked the comps and think it might go for 50K approx.  there are some for sale at 90K in the same building..I like condos because they are easy to maintain, I've had 4.  I bought a hud house a while back and it was like the money pit...

I'm going out on monday to check on the condo.

Pauline

Hi I'm also interested in buying or wholesaling properties, I have a condo

in Manhattan as well and have been looking in areas around the

NJ shore, especially Highlands there are some sheriff sales

coming up that I'm excited about.  I had bought 5 properties

in the past and rehab them and sold all 4 keeping the midtown

east condo.  I'm very creative and had sold real estate for

25 years, I would say I'm the opposite of analytical so someone

like that might be good for me to know.

Pauline

Thank you so much for your valuable feedback,

I would love to attend an auction with you

if your have time

Pauline

I am looking for a partner to buy with at the sheriff sales

I have done a lot of the due diligence on

the waterfront properties in Monmouth county

and want to rent them out to VRBO and

airbnb  I do this in NYC and am booked till

December.  It is a thriving business

thanks for the update I see a few other posts

re sheriff sales I will check those out,

this is in Monmouth county

pauline

I came across sheriff foreclosure sale list in NJ and wondered if anyone

has any experience in buying one.  How much time do I need to

put up the rest of the bid amount, and if the property is 

occupied how long does it take to evict the tenant?

I've bought foreclosures in the past but they were bought

through agents I've never tried sheriffs sales before?

Pauline