This was probably the most informative foreclosure auction video I've seen. I once watched an online auction that was foreclosed on by a roofing company that had a 1st and 2nd mortgage.
One thing not mentioned (unless I missed it), is the rehab costs. If someone buys a property for $800K and Zillow says it’s worth $1.6MM, that doesn’t mean you have $800K of equity. Because that $1.6MM is assuming it’s in a livable condition. For all we know it actually needs $500K worth of repairs. In that case you’re still coming out ahead but certainly not by $800K.
Good morning Attorney Diego, thank you for your videos. Please, I'd like to arrange an appointment with you. I've heard you have a 45 minutes meeting to answer some questions, but not sure how to contact you directly or your assistant, thanks again
It's a little weird that the Surplus goes to the owners instead of being used to pay the 1st Mortgage Instrument. I would have assumed that the extra money was going to be used to cover the other debtors down the priority line.
3rd bidder - Black Rock. They own around 30% of all residential homes in most States. It should be illegal for corporations to own residential properties. "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson
You think you can make a video just on the 1st mortgage subject and how we can tell through public records
Can you make video about how to do lien search and title search. Thanks a lot for these videos.
That would be very helpful.
This information is gold for me thank you
This was probably the most informative foreclosure auction video I've seen. I once watched an online auction that was foreclosed on by a roofing company that had a 1st and 2nd mortgage.
Thank YOU for this video! You saved us a HUGE headache!! Thank you
Always like your videos
One thing not mentioned (unless I missed it), is the rehab costs. If someone buys a property for $800K and Zillow says it’s worth $1.6MM, that doesn’t mean you have $800K of equity. Because that $1.6MM is assuming it’s in a livable condition. For all we know it actually needs $500K worth of repairs. In that case you’re still coming out ahead but certainly not by $800K.
The auction sites always have much higher values than what the property is actually worth even in good condition too.
Great Informative Video! In Real time as well. Thank You!
Amazing video. Eye-opener as I've been reviewing what to buy and not.
Thanks for the content
Thank you!
What about construction/ mechanics liens?
Would I still be beholden to the other lien holders if I purchased the property?
Thank you so much God Bless you
Hi Diego Mendez, I just started to watch ypur videos. I wonder if you can help me out with auctions/foreclosure.
Thank you Diego!
Good morning Attorney Diego, thank you for your videos. Please, I'd like to arrange an appointment with you. I've heard you have a 45 minutes meeting to answer some questions, but not sure how to contact you directly or your assistant, thanks again
How do check if 8ts a second mortgage and liens?
Can you help me acquire bank properties.
Second video im watching why so expensive? Ive seen plenty under 100k everywhere.
It's a little weird that the Surplus goes to the owners instead of being used to pay the 1st Mortgage Instrument. I would have assumed that the extra money was going to be used to cover the other debtors down the priority line.
do forclosures go up as unemployment rate goes up ? right now unemployment rate is 3.9% so when it get to 5% more might start coming up .
I thought that only the bank or plaintiff could perfect a title from secondary mortgages not 3rd party bidders.
Is it possible to redeem a property before the 10 days or do they give the bidder the certificate right then and there?
What happens if you file for bankruptcy and your co-signer doesn’t
3rd bidder - Black Rock. They own around 30% of all residential homes in most States. It should be illegal for corporations to own residential properties.
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson
💎
28 min = 25 min reviewing auction listings + 3 min oder advice.
The advice = beware that some foreclosures have 2 mortgages 😮
do you do title research service for investors? Is there an email contact infor we can reach out to you