All Forum Posts by: Marko Petrekovic

Wouldn't it be better to talk to the bank? At the end, bank owes that peoperty, not that woman. Da Deep, i don't understand why do you ask David how much you wonna offer? You know the best. David doesn't know your finances, your investment plans with that house, your other business options, or if you plan to live there and how long. If I am dieing to live in it I woud give 80% of appraised, if it is an investment, no more then 60, unless is a very hot market area, like Manhattan, New York, or South Beach, Miami. You can probably try to bid with the bank. Offer 440, if they say no, maybe tomorrow they call and say yes, if not, the day after you offer 470...If you blow, REO is plan B

David,

How can you tell which loan servicers are better then the other ones?

Why it matters who is holder on first, who on second? I guess balance matters so you can negotiate price better, right?

Paul,

Thanks for sharing your opinion. How much approximately you think those expenses would be?

I wonna bring up my REO case!

I have won the REO on 09/28 on the auction in Miami for $52000, and closing got extended twice. 12/28 is deadline. the case is: there is no appropriate parking lot so the grass in front needs to be paved, and chain link needs to be fixed. Bank has liens $40500, and when they fix the problem, penalty is going to be reduced on 10-20% As far as I know,on 12/05 they still didn't start fixing the problem. Does anybody wont to share the opinion what is going to happen? Is bank gonna be able to close before deadline? What if won't? I was thinking to try and get the asset manager and make an offer to sell me property with current liens for 20k, so I can fix it for 5-10k, and pay penalty another 5-10k, so the worst scenario of expenses would be 10k(fixing)+10k(penalty)+20k(purchase)=40k, what is cheaper deal for me, and might work for bank since they are unable to fix it within 3 months. I am newbie. Is my plan good? Should I look for asset manager before or after expiration of the contract?

Hello, investors!

I have won the REO on 09/28 on the auction in Miami for $52000, and closing got extended twice. 12/28 is deadline. the case is: there is no appropriate parking lot so the grass in front needs to be paved, and chain link needs to be fixed. Bank has liens $40500, and when they fix the problem, penalty is going to be reduced on 10-20% As far as I know,on 12/05 they still didn't start fixing the problem. Does anybody wont to share the opinion what is going to happen? Is bank gonna be able to close before deadline? What if won't? I was thinking to try and get the asset manager and make an offer to sell me property with current liens for 20k, so I can fix it for 5-10k, and pay penalty another 5-10k, so the worst scenario of expenses would be 10k(fixing)+10k(penalty)+20k(purchase)=40k, what is cheaper deal for me, and might work for bank since they are unable to fix it within 3 months. I am newbie. Is my plan good? Should I look for asset manager before or after expiration of the contract? FLflipper? You are my idol, help me, please!

I have purchesed 2 houses recently on REDC, both great deal, first didn't got rejected, second: to early to say, but as young investor I am concerned about clear title. On my contract says closing company takes care of title insurance and contract is not gonna be closed unless seller obtains correct and insurable title. Does it mean I get house free and clear of all liens after closing? still waiting for response from escrow agency. Anybody from biggerpockets knows the answer?

do you know how hard it is(moneywise and timewise) to clear the title when you buy tax deed?

tax deeds are everywhere described along with tax liens. I find it confusing because it is pretty different. I find tax deed investment similar to foreclosures. I am looking for a brief comparison between freclosure sale and tax deed sale...anyone??

Hi there. I am 26, and am new in investing world. Wright now I am studying about tax liens and tax deeds and one thing I don't understand: when you buy tax lien certificate, you become the owner ot that tax lien, but when you buy tax deed, you become the owner of the property. So, if I buy deed, why do I get only interest(16-24%) when the property owner fails to redeem? Shouldn't I get the property insted the interest on delinquent tax? Because if my profit is only the interest, tax deed seems like the same thing as tax lien certificate. I can not sleep at nights, those questiones are driving me crazy. Can somebody please explain it to me??