All Forum Posts by: Royce Talbo

After reading some of these posts I feel my post may be in a different mind frame.  He said parking space, not parking lots or parking structure, so I was assuming he meant just a single parking stall.  He also stated that he had 50,000 to start with, which is about how much a single parking stall goes for here in Hawaii.  @Jeremy W.  can you clarify what you are looking for?

@Jeremy W.  What is flipping parking spaces and how does it work?  I never heard of this before.  I heard of people investing in parking spaces and renting them out then resell years later when it appreciated.  How do you flip a parking space, there is nothing to upgrade on it? Are you talking about trailer parks? 

@Kou Vang  can you explain to me how this will work? I dont know what a confidential check is.  Any big amount that is deposited in the last 2 months will be questioned, so if it is confidential or not the bank will find out.  They will also pull your credit score and see that you have 10,000 debt on your credit card, which will put you in a worse position to qualify for the loan.  Sure you could age the funds in the bank but then you have to pay the interest, but that still doesnt eliminate the debt when they pull your credit.  typically this wouldnt work, but for someone that has excellent credit score and high enough income to outweigh the amount they are getting from the credit card, this could work.  If this is the case then why not do what @Dawn Anastasi  said and just ask for the cash advance and do a direct deposit?

@Andrey Y.  Did the guy show up yet? Did he leave his things or did he take them?  You said that he had a very basic app, but it should have at least had his work info where he works and who his supervisor is with a contact number to verify that he does work there and make that much money.  They must know if he is showing up for work or not.  If he is self employed I would assume he wouldnt want to lose business and would leave some kind of message saying that he will be out of town for vacation or something on his voicemail.  After those things are determined then you should either either evict or contact the police, good luck.

@Roy N.  wow he really went to town on that corner.  Well I am still going to stick with vinyl planks until they come out with something new, as replacing couple planks is still pretty cheap.  Now if only they came out with good looking linoleum that is cheap then we will have an alternative to vinyl hehe.  

@Roy N.  wow I hope I dont get any cocker spaniels hehehe. How bad was it? was it just the first layer or did he get all the way through to the sub floor?

@Account Closed Did you look into vinyl planks?  They are durable and dont swell like laminate or hardwood from pee or spilled water bowls being left.  They are easy to install and can replace sections instead of a whole room.  It can be cheap depending on brand/type.  I did some research and decided to go with this route because of reasons listed above and the quality looked pretty good.  I just installed them several months ago so I cant say how well they are holding up yet.  

@Daniel K Adderly  thanks for the reply, I talked to the property manager and he referred me to their attorney that handles foreclosures.  she said that I can present an inquiry to her and she will submit it to the board to see if they will sell and for what price.  so I am waiting on that first then I will get a title search done once I know that they are willing to sell.

I'm not familiar with how foreclosures work and was wondering if I should pursue this property. 

property was sold for $249,900 in July 2004

HOA has attained title, I am assuming they have foreclosed on the property and this is not just a lien, this was in may 2013

Tax is current and not due till 2015

tax records assess property at $404,800

trulia has it at $382,800

so my question is that if HOA has the title that means that they already foreclosed and I can go directly to them to purchase? How can I find out which bank holds the mortgage and will they let me do take over payments?

@Jon Gom  welcome, its great to hear from investors in hawaii! Like you I dont care for the prices here in hawaii and might be considering invest out of state, but right now I'm still in the research phase of out of state investing. hope to run into you at one of these meet ups.

@Andrey Y.  did you know when you are planning on a meeting? keep me posted