All Forum Posts by: Derek T.

So I've been buying properties that have first liens in default at trustee sales in California, but have not touched the ones with junior liens. When you guys are talking about buying junior liens, are you talking about the same thing?  Are these properties with the junior lien defaulting?  If I buy a junior lien does that mean I can just go and try to foreclose it? 

Also, it's been hard to find the exact amount of the 1st lien and the payoff (when junior lien is up for auction). I can see through title when the lien was taken and how much it was for, but how do you find out what the payoff amounts are? There could be huge penalties that have accumulated over time if the borrowers was defaulting on both the senior and junior liens. 

So I've been buying first liens at trustee sales in California, but have not touched the junior liens. If I buy a junior lien are you saying that I don't take title, and that I can't pay off the first lien? Is that a hard process? Does the debt go in my name? Or does it stick with the original borrower? Do I have to get permission from the borrower to pay off their debt, or can I just do it by calling the bank and handing them a check.

Also, it's been hard to find the exact amount of the 1st lien and the payoff (when junior lien is up for auction). I can see through title when the lien was taken and how much it was for, but how do you find out what the payoff amounts are? There could be huge penalties that have accumulated over time if the borrowers was defaulting on both the senior and junior liens. 

So I've been buying first liens at trustee sales in California, but have not touched the junior liens.  If I buy a junior lien are you saying I take title, and then I can pay off the first lien?  Is that a hard process?  Does the debt go in my name?  Or does it stick with the original borrower?  Do I have to get permission from the borrower to pay off their debt, or can I just do it by calling the bank and handing them a check.  

Also, it's been hard to find the exact amount of the 1st lien and the payoff (when junior lien is up for auction).  I can see through title when the lien was taken and how much it was for, but how do you find out what the payoff amounts are?  There could be huge penalties that have accumulated over time if the borrowers was defaulting on both the senior and junior liens. 

Hi I'm an investor in the SF East Bay Area.  Anyone have recommendation on CPAs?  Also how do you work with your CPA?   Do you prepare everything and just have them enter it in?  Do you meet with them every time you have a question?  Do you just let them handle your paperwork?

Hi Joe, congrats on your buy! Definitely hope everything works out. I'm actually in the process of buying too and want to get something at auction. I've bought short sales before, but have always wanted to buy at auction. I was wondering about your agreement with the person who clears the properties for you. Do you pay her a commission? How does it work? Can I get in contact with her so that she might be able to do some title search for me as well? I'm also looking in the Bay Area.

HI All,

I've been going to auctions and am ready to start bidding and buying properties. I'm trying to find a good way to do title search for the following counties: San Francisco, Contra Costa, Alameda, San Mateo, Santa Clara, Santa Cruz.

Does anyone know of any companies that do this type of thing for investors at a reasonable price? Are there websites that allow you actually do the title search online?

Derek