All Forum Posts by: Stanley Crawford

My advice would be to save your money and spend a lot of time reading the BP forums. Also if you can buy a cheap rental and get a little experience. I have seen some really cheap properties in the KC area.

I vote SELL and lower the stress level.

If your plan is to be in business for yourself then why get the degree and miss out on today's opportunities?

Bids at Auction.com and HudsonAndMarshall auctions will generally get accepted somewhere between 60-70% of list price. I don't think I've ever seen below 60%, though 65% is pretty realistic.

I believe that is true at least for the first auction but they will accept less and less as time goes on. I know of one property in like new condition that went for 28% of the original asking/owed price. Of course that was after a year and a half and 3 auctions.

But If it does not sale after 6 mos or so they might put it up for auction. Then you MAY get it for 50%

I agree with Joel do the math. You can put in for a rate increase. Section 8 can be a pain but the checks come like clockwork. Get an appointment with their caseworker in any case.

I know of a property near me that the bank wanted $180K which is what is was owed. 2 years and 4 auctions later my buddy bought it for $45K

http://www.zillow.com/homedetails/3342-San-Carlos-Way-Sacramento-CA-95817/25800224_zpid/

http://www.zillow.com/homedetails/2874-Perktel-St-Sacramento-CA-95815/26079407_zpid/

Not quite $15k but kinda close

http://williamsauction.com/property-auctions/19188-monterey-street/330345

but its closer to LA

What does everyone think? How long will the recovery of lot values lag behind housing overall?