All Forum Posts by: Theresa K.

Ned Carey and Dan Orr: What are some horror stories? Do people get really mad if you purchase their house or their grandma's house that they're supposed to inherit at tax sale? I'm going to attend the tax sale here in San Diego in March and I'd like to know what I should watch out for.

Jon P.: thanks.

Steven Hamilton II: What is form 8252 for? I can't find it on the IRS website.

1. Depends on the bank. I bought an REO and got a commission. Am currently looking at making an offer on a HUD property. From what I was told here locally, HUD will pay a commission if you are the buyer/broker, but they look for the best deal (for themselves) so you could forego your commission to make your offer more appealing to them.

2. Disclosure rules would most likely apply.

3. Varies by region. In San Diego a Broker just join the MLS. There's a fee to join and then you pay quarterly. Here you don't have to join the Realtor Association.

I never really thought of Ocean Beach as a war zone. It does have a large transient population, but Southeast San Diego and National City are rougher areas than OB.

Karen M.: Just curious if you could see the Sandicor listings from you mls. Every one in a while I see listings where the house is a tear down or it has burnt down and you are basically buying the land to redevelop.

Would love to join the SoCal meetup. Depends on when and where.

If you don't already own your home (primary residence) or if you don't mind moving, you might consider doing what Steven Straughn is doing - buy as owner occupied and rehab. There are still HUD homes and REO's available that have the initial OO period so you can get your foot in the door before the other investors do. Even though you have the OO advantage with Fannie Mae homepath properties, a lot of them seem to be overpriced in the San Diego market.

Steven Straughn: I'm interested to see what 6602 Jackson goes for too.

Karen M.: Do you have MLS access to the San Diego area too or just OC?

Travis White: Welcome neighbor! What part of San Diego are you in?

1. Broker
2. Work for myself. Got my license with the "college degree" exception route a long time ago and didn't have to work as an agent for 2 years. Sometimes I use my license, sometimes I don't, but I keep it current regardless. Used to do 3rd party commercial property management for a long time and a license was required.
3. pros - MLS access, access to Realtor standard forms library, commissions to offset closing costs.
4. none
5. no
6. n/a

Tempo! I hope San Diego doesn't change to Matrix.

I talked to two of our local credit unions, but neither would do a HELOC. They would do a cash-out refi after 6 months or a year (I don't remember which), but then we would have to pay all of the fees associated with the cash out refi, ie: title, escrow, application fee, loan processing fee, etc.