All Forum Posts by: Mike Hartzog

I've got a reference for you.  Connect or email me.

Try the below link.  Navigate to the appropriate county.  There will be phone numbers and links.

http://publicrecords.netronline.com/

@Sue Bishop

They are recorded in the county records, so you can either go to the county recorder directly or you can order a title report.  Most investors take the latter path.  I currently use http://protitleusa.com for title reports.

Tennessee is a deed of trust state, so if there is a Promissory Note there will also be a Deed of Trust as the security instrument.  If the property was sold using a land contract, there is no security instrument because ownership of the property remains with the seller until terms of the contract is satisfied.

Regarding the other replies to this thread, BP encourages its members to post and answer questions.  It's not our job to determine whether their knowledge is adequate to play in a particular area of investing, refusing to answer questions based on this assessment.  IMO these types of questions should be respectfully answered without the "you are not yet worthy" message.  Everyone who is investing in this space has had to navigate the learning curve to get to where they are now.  Let's be respectful to those who are coming here for help in moving along that same curve. 

I always recommend working with the foreclosure attorneys directly.

Another option is to order a title report on your property and check the assignment chain for the loan.  You can order these only for ~$100 or less at http://protitleusa.com.  The "current owner" report is what you need.

There are no tax benefits for interest income from loans. That's why a lot of private money lenders use self directed IRA accounts for their lending.

@Nicole S.

Flippers need cash to run their businesses and frequently borrow from private parties. Asking friends and family to lend is not out off the ordinary. If you lend to him, however, you need to be secured by the property he is selling so that you are paid automatically out of escrow on closing. I would approach it by looking first at the property your borrower is selling. You will need to know how much financing is already on the property, and what the fair market value of the property is, i.e. what is the equity in the property. If adding your 30K on top of this existing financing leaves you with a reasonable CLTV, then it may be worth pursuing further.

Looking for a good PM to manage rehab and subsequent rental of a Fort Worth area REO. Please let me know if you have someone you could recommend based on first hand experience.

I don't play in that sandbox.  Some do it successfully, and that's great, but I feel more comfortable with 1st liens.