All Forum Posts by: Andy Wu

New investor to the market. I would like to understand how the foreclosure auctions work in Kansas City / Missouri. The number of days of the month? Either only or physical location? etc

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The ideal of a wholesaler is to find deals off market for a less expensive price so the investors and you can make a profit. Start putting signs out there "I'll buy your house cash" just to get your name out there. Try to find out pre-foreclosure homes and reach out to them. Start going to network events to meet investors so u can supply them with deals...

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Originally posted by @Marc Yu:

Yes, the resident is responsible for those utilities, not you. Whenever a utility company starts an account, they check the credit of the resident who is applying for service and bills him/her - and that resident could be a tenant or an owner. I'm hoping you didn't apply for service until today.

http://www.ajc.com/news/local-govt--politics/how-dispute-high-water-bills-dekalb/Gcusp4NTJ0QocYydc5CWnO/

Also, check your closing statements. If DeKalb County didn't put a lien on the property for this bill, it's definitely something the title company should have picked up on and it is liable. You may have to get an attorney involved if it gets to that point, but it may be worth it.

Thanks! this is great information

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Atlanta, Georgia

Originally posted by @Bruce Silverman:

Also, you may own the property, but was the account in your name?

No, the account was not under our name.

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Atlanta, Georgia

Originally posted by @Marc Yu:

Take your sales contract to DeKalb County to prove you bought the house after the unpaid water bill was incurred. They should be charging the person whose name was on the bill that incurred these charges.

Thanks Marc, but the issue is - we purchased the property in July and did not have possession of the property until today. B/c they fought the eviction with us. It was a pretty hairy situation.

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Atlanta, Georgia

My fund recently purchased a house from Dekalb foreclosure auction. After we purchased the property, we received a fax from Dekalb county regarding on a $30k+ unpaid water bill that we are responsible for. We ran the title and our DD prior to the auction and this issue did not come up. Anyone know how we can get lower this amount? Or any other ways around it?

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Atlanta, Georgia

Looking for deals in Atlanta area. Wholesalers, please contact me for details!

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Recently started using Plainequity.com to analyze portfolios, very useful tool. You can get market value for thousands of properties in less than 10 mins. In addition, they have build in functions that you can put in your own assumptions. Very useful tool.

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Welcome to the forum @Daniel Cardona !!

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@Ali Boone check out @Daniel Cardona I have been working with Daniel and his team for the past few years. They are very knowledgeable on property management, pretty much a one stop shop. They can handle anything from Acquired, Rehab, Manage and Disposition. Great firm to deal with. Good luck!

Best,

Andy Wu

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All Forum Posts by: Andy Wu

Andy Wu has started 8 posts and replied 31 times.

Post: Public Trustee Foreclosure Auctions in Kansas City / Missouri

Post: Where do I start????

Post: Unpaid Water Bill (Dekalb - Foreclosure Auction)

Post: Unpaid Water Bill (Dekalb - Foreclosure Auction)

Post: Unpaid Water Bill (Dekalb - Foreclosure Auction)

Post: Unpaid Water Bill (Dekalb - Foreclosure Auction)

Post: Looking for wholesalers in ATL Area (ATTN- WHOLESALERS!!)

Post: Underwritting tool (Plainequity.com)

Post: HighPoint Assets - Concasa Realty - New to the Forums

Post: Atlanta Property Manager Recommendation?