Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Joshua Walters

Joshua Walters has started 2 posts and replied 13 times.

Post: HOA Foreclosure- Mortgage Payoff

Joshua WaltersPosted
  • Posts 16
  • Votes 4

The same guy iS buying for $615,000.his realtor said he always bs's everyone he makes an offer to.

Post: HOA Lien- (good investment?)

Joshua WaltersPosted
  • Posts 16
  • Votes 4

I forgot to explain that the owner passed away 12 years ago. The property would have been gone a long time ago if the hoa didn't step in and pay the taxes which I rembured them for ($32,000). The owner is single and has no known aires. I wouldn't be able to sleep at night if I was stealing from other people. My total investment on the property is about to hit $40,000. My attorney spoke to the state appointed representative of the owner and they are offering me a quit-claim deed if I dismiss the case. Which I received yesterday. The property is going to need $90,000 conservative. I think I might sell it by the end of the year. (Hopefully)

Post: HOA Lien- (good investment?)

Joshua WaltersPosted
  • Posts 16
  • Votes 4

The hoa wanted $5000. I countered at $4,250 and they accepted. They also told me that I would have to agree to pay the hoa fees from sept. 2010 if I end up owning the property. Which is about 4k. So I need to find a foreclosure attorney after the "assignment of lien" is recorded.

Post: HOA Foreclosure- Mortgage Payoff

Joshua WaltersPosted
  • Posts 16
  • Votes 4

The Title company found out about the unrecorded lien by looking at unverified documents in the official records. The buyer countered back at 550,000. But I not going to sell it for more than $100,000 less what its worth.

Post: HOA Foreclosure- Mortgage Payoff

Joshua WaltersPosted
  • Posts 16
  • Votes 4

Just got an offer on the house. I HATE when people low ball. The guy wanted $395,000. He so lucky he wasnt in front of me or I would have cursed him out so bad. Still cant believe he would offer $200,000 less than asking price ($595,000) on a house that is appraised for $672,000. I was so mad that I countered him back at $790,000 (2 times what he offered). Lets hope he gets the message...

Post: HOA Lien- (good investment?)

Joshua WaltersPosted
  • Posts 16
  • Votes 4

Got a title search done and the property is free from any liens and mortgages expect for the HOA lien. So I might contact the HOA tomorrow to negotiate something together.

Post: HOA Lien- (good investment?)

Joshua WaltersPosted
  • Posts 16
  • Votes 4

I was thinking of that but the HOA but the lien on the property in September of 2010. Im not quite sure when they plan to foreclosure. The benefit of waiting for them to foreclose is that I wouldn't have to deal with all that legal stuff. I think I'll start off by offering them $3,500 and see what they say...

Post: HOA Lien- (good investment?)

Joshua WaltersPosted
  • Posts 16
  • Votes 4

In the community I use to live in, their was the house in the corner that is vacant. I learned that the owner lives in Mexico and almost never uses the property. I did some research... I learned that the property never had a mortgage. But, it has a $6,600 HOA lien. Do you think its a good idea to buy that lien from the HOA and foreclose on the property, then own it outright?

Post: HOA Foreclosure- Mortgage Payoff

Joshua WaltersPosted
  • Posts 16
  • Votes 4
Originally posted by RobTheHouseGuy1:
I am not familiar with Florida law. I have always known HOA Liens to be ahead of 1st mortgages. I would love to know more details of this deal because something does not sound right. Please someone explain it to me in detail, I like to think I know my way around the block a bit, but this one is unclear to me.
Thanks :oops:

In florida, all HOA liens are junior to any mortgage. So when I got the house, the mortgage lien survived the sale. I only paid $1,200 for a $17,000 HOA lien all because the plaintiff's (HOA) representative didn't submit a bid at the auction and everybody else just ignored it because it was an HOA auction and figured the property was upside down. I found out the owner moved to England and is in his late 80's so I guess he's not all that interest in saving it any more.

Post: HOA Foreclosure- Mortgage Payoff

Joshua WaltersPosted
  • Posts 16
  • Votes 4

Actually I just had a Title search completed earlier today their is a $6,500 unrecorded lien for the new windows. I am going to pay it later on today