All Forum Posts by: Shawn Dandridge

Nicole,

Thanks for the info. Have you ever used this particular HML?

Any Private money lenders in the Baltimore area? I'm looking for about 20K for a property. Please contact me. Or if anyone has any recommendations that would work as well.

So I just got the Baltimore OTC tax lien list. Most of the building are boarded up and not worth the hassle. I found a few gems in the rough but I will be doing a drive by on the few I find promising. In the day time of course as some of these neighborhoods are fairly questionable. Would love to hear Ned Carey's take.

Matt,

At first, renting the property was my idea but it seems as thought it would be easier just to buy the lien directly off the HOA and start to initate the foreclosure process in hopes that the homeowner or the mortgage holder would satisfy the lien.

Matt,

You make some good points. The reason I ask is because I've read several stories where this is happening quite often in Vegas and hard hit areas in CA.

It seems like if I wanted to buy direct from the HOA, I could play the scare tactic card. Especially if its amounts for like 1200 or less, could be easy money once they recieve a letter from an attorney talking about initiating the foreclosure process.

I am wondering if I can go directly to property management companies and buy HOA liens? . I've been reading that many investors buy the liens and rent out until the bank forecloses. Has anyone ever done this? The way I understand is that as long as the tenant has a valid lease the bank will have to honor it until it expires.

My wife and I are waiting for our new construction condo to be finished. We bought when there was nothing in the neighborhood. So our base price was 210k and we put about 30k worth of options in it. Condo prices now are in the mid 260's without any options. Were hoping for an appraisal in the 270-280k range. If this happens we will have instant equity. What I wanted to know is if we could instantly tap that equity or would we have a seasoning period of a year before we could?

I am looking at investing in a block of judgement liens in Maryland. I know that as the judgement owner I can attach a lien to all real estate that the person owns. I wanted to know if I have a judgement for 5,000 can I still start foreclosure proceedings on the property I have a lien on? And what if there is an outstanding mortgage out on the property?

My wife and I are looking at buying a condo in a new development. With options the price was around 240k. Options alone were about 30k of this. I know for a fact that the options from the builder are highly inflated. I was thinking of offering 60% of the quoted price on my bid for the options, is this fair? The builder, Ryan Homes, is also pushing a 5k rebate on closing costs but then they turn around and charge a 1% processing fee along with an application fee of $500 essentially wiping out the "rebate", I thought this was illegal? We are already paying a 2.15% funding fee through the VA loan program, so we are essentially paying this twice, once with the builder and then again through the govt? The mortgage company is NVR Mortgage which is owned by the NVR, Inc, the owner of Ryan Homes and the mortgage company.