All Forum Posts by: J Morales

K,

Thanks for the information. It sounds like it could work out. I'll be sure to pass it along and hopefully it's not too late.

Thanks again!

so i guess this guy is going through a divorce and he thinks the contract he signed with these people was thrown out by his ex-wife on accident whilst she was packing and "cleaning?"

well definitely feel sorry for the old guy, but you're right. gotta keep your guard up at all times!

you know, the guy really didn't say.

hello,
so i went to a new yrs eve party and someone there was talking about an incident that happened to their family member. basically the situation went down like this:
he said his relative was facing foreclosure, nothing new these days, and that he was approached by this company (unfortunately i can't remember the name of the company as i type) but i guess what ended up happening is that they had him quit claim the deed over to the company and in turn they said they were going to help him from going into foreclosure, that they've helped countless numbers of people, yada yada. well apparently the guy got a notice in the mail stating that the house was going up for auction, etc...and now he can't get a hold of anyone and they aren't returning his calls. is this legal??? can they actually get away with this kind of madness? i told the guy to have his relative talk to an attorney, i mean what else could the guy do? it's a shame that people prey on those unfortunate souls that fall on hard times. anyway...has anyone heard of things like this happening?

hey guys...thanks for the great advice. i'm definitely taking it to heart and will continue to do more research before i jump into anything i can't handle. thanks again!!!

hello to all,
hope you all had wonderful holidays. i'll try to keep this as to the point as possible and would appreciate any comments or advice.

i found this home on a website that someone purchased on dec. 5th for $30k. he wants to sell for $65k by the 30th of dec. i saw some pics of the place and it looked in decent shape, of course i still need to look it over in person. its not in the greatest neighborhoods. i ran a few comps myself from various websites and the values ranged from $131k - $171,500. the seller thinks that the property's value is at about $132k. so from the looks of it, there's a potential of about $60k or so ROI. i dont have the capital to purchase, so i was thinking of going the hard money lender route (anyone have any tips about dealing with hard money lenders?)
secondly, having done some research online i noticed the following, but am not sure what it actually means. this is what i found:
::Real Property Assessed Value::
Fiscal Year: ------------------------2008-09 ----- 2009-10
Land: -----------------------------------35,000 ------- 10,500
Improvements: ----------------------10,541 ------- 10,790
Personal Property: ----------------------- 0 --------------- 0
Exempt: ---------------------------------------0 --------------- 0
Gross Assessed (Subtotal) --- 45,541 ------- 21,290
Taxable Land+Imp (Subtotal) -130,117 ------ 60,829
Common Element Allocation -----------0 -------------- 0
Total Assessed Value ------------ 45,541 ------ 21,290
Total Taxable Value ---------------130,117 ----- 60,829

does this mean that the property value is going to drop to $60,829 and thus if the property was purchased in 2009 it would not be able to sell for the $132k estimated current market value?

it has a clear title with no liens, etc. so i'm just asking for anyone's help in figuring out if i should go ahead and try to purchase, and if so, any tips on obtaining the funds...or if this really isn't a good deal and i should move on.

Thank you all in advance for any comments/advice you share!

has anyone used analyzeddeals? any advice about it? or would it be more beneficial to find buyers on my own because they charge 3% for bringing in a buyer from a real estate agent otherwise you cannot submit a deal.

Augie,

Thanks for the welcome. I had heard wholesales are the best place to start. The only thing is, I'm not certain of where to start looking for those potential deals. Is that what a local REI club is for?

Kenneth,

Thank you for the information. It is greatly appreciated.

i still haven't gotten around to check out this entire site, but i was wondering if anyone has any information on "tax deed sales"? from what i gathered, you have to have the winning bid and it usually takes place at some gov't office (courthouse). does anyone know when/where i could get a list of properties in ventura county, la county and for the las vegas area (clark county)?