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HOA Foreclosures [What Not To Bid On] 

Liran Koren
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29 окт 2024

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Комментарии : 36   
@wyqid
@wyqid 3 месяца назад
You also have to evict the current tenant(s) before you can even do any renovating. Those tenants sometimes trash the place in that 90-180 days. But if you are lucky you can buy an HOA foreclosure cheap (say $6000-$12000), and if you can clear it out fast you can AirBnB or rent it out until the mortgage company forecloses on it. Collecting $2k a month in rent for a year = $24K. $12-18K gross profit.
@chitownlew
@chitownlew Год назад
You say all 6 foreclosures that day are "HOA Foreclosures" but you don't say how you recognize that they are HOA foreclosures. Does it say HOA foreclosures somewhere? If this is an instructional video, why skip the most important part??
@Ozbeat
@Ozbeat 8 месяцев назад
Thank you, your information gave me a great understanding how this works. Your helping a lot of people not lose money. Blessings
@TechDeviceRepair
@TechDeviceRepair 2 года назад
After researching the FL statutes, Those HOA auctions should be illegal if the liens outstanding are higher than the property value. .. there is 0 gain to any one bidding. The state should outlaw these and they shouldn't be offered for auction. We are currently facing the same issue 2021 33667 COCI Volusia Records.
@AB-sy9tf
@AB-sy9tf 2 года назад
Are you saying that these particular HOA auctions are illegal or should be illegal?
@ludwig6332
@ludwig6332 11 месяцев назад
I think they should be illegal. Or upfront notice of what is owed against the property by the Lawyer selling them at the time of auction. Same thing with the city, they may have a house that is deemed abandoned by the city, but they wont tell you or record it. If you buy it,, then you cant do anything with it except tear it down and spend 50K.@@AB-sy9tf
@jenniferbarrera2203
@jenniferbarrera2203 5 месяцев назад
Thank you for sharing your knowledge. What if you win the bid on a foreclosure sale from the mortgage company and there was a previous foreclosure a yr before on HOA fee's. The attorney who purchased the HOA fee's are not listed on the party details. W How do you eliminate the HOA foreclosure? Will they have equal rights to the property and be on the deed as well?
@mixingreen
@mixingreen 2 года назад
I lost 40000 on buying two properties from HOA Liens. We should find ways to bring awareness to this situation . Thank you so much for sharing. I wish I saw this video before I got scammed.
@theman-kq2uj
@theman-kq2uj Год назад
Do you do a title search ?
@pkmathome1500
@pkmathome1500 7 месяцев назад
Whats a good tool to lookup title information?
@gfysyoutube
@gfysyoutube 3 года назад
Great info, thank you for being so upfront and honest!
@tedwisniewski
@tedwisniewski Год назад
Watch out for reverse mortgages also
@ordoney1
@ordoney1 Год назад
how to do you know the mortgage balance? you are basing the original amount of the loan
@OneLeggedTarantula
@OneLeggedTarantula 2 месяца назад
use a mortgage calc and estimate it base on note age.
@maheshpatel2086
@maheshpatel2086 4 месяца назад
Hello, Is Reverse mortgage is senior to HOA lien foreclosure?
@OneLeggedTarantula
@OneLeggedTarantula 2 месяца назад
not likely. only the original purchase money might be depending on the state.
@santy33143
@santy33143 3 года назад
Great Video Lirian, 👍
@TinoMontelongo
@TinoMontelongo Год назад
This lady bought a condo 3 years ago in California. She passed away in January 2021. She obviously did not pay for almost two years. I talked to the associating attorney and he wants to sell me the condo for a lien of $14,000. Great deal but she is being foreclosed by the first trust deed. My idea was to buy open escrow and get a preliminary report to make she has no other liens. I can now legally change the locks and put them for a sale with a top real estate agent and sell it for profit since I did my comps already and has a profit margin of $100,0000. I can have the real estate agent stop or postpone it for a longer period of time. For the record, I have been in the mortgage business for 32 years and I have never got involved in tax liens or wholesaling. What are your suggestions? By the way great youtube video.
@zenoviaelliott4066
@zenoviaelliott4066 Год назад
i thought florida being a super lien state the other judgements get kicked out because of foreclosure
@tedwisniewski
@tedwisniewski Год назад
It’s easy to do homework don’t jump
@mannyfrommiami2622
@mannyfrommiami2622 2 года назад
How do you find out what the mortgage is ? (California)
@OneLeggedTarantula
@OneLeggedTarantula 2 месяца назад
title search or property info sites like realtytrac
@Gamesdmc3
@Gamesdmc3 3 года назад
I have a situation that just happened, COA foreclosed.i want to buy it back "right of redemption.unethical & unlawful things were done by the coa,coa management company, & contractors from the insurance claim
@AB-sy9tf
@AB-sy9tf 2 года назад
Could you give a bit more detail? Thank you.
@Lenny-cs9vl
@Lenny-cs9vl 9 месяцев назад
Right of redemption is a joke in florida
@MrAplazas
@MrAplazas 2 года назад
How do you find any judgement... Also, I'm in Broward.. is there a way to contact you?
@OneLeggedTarantula
@OneLeggedTarantula 2 месяца назад
county civil records, county recorder
@MayaArora
@MayaArora 3 года назад
I see this is one year old, and of course I should have looked you up early before bidding on HOA foreclosure auction. I wanted to ask a question ... what’s my remedy after making a bad purchase ... could the surplus go to the first mortgage lender and I pay remaining mortgage because the previous owners are trying to get their hands on the surplus. How to stop them from getting any surplus at all?
@santy33143
@santy33143 3 года назад
HI, good luck with that purchase if i find someone can help you i let you know, before you buy, did you use a tile sear online before buy it, one of thoses cheap of under 50.00 ? i'm wondering how good they are since there is not insurance on the info they give you
@MR..181
@MR..181 3 года назад
Theives as deed partners, a definite buy..
@AB-sy9tf
@AB-sy9tf 2 года назад
That's a good question. It's my understanding that the surplus monies would go to the existing mortgage and any ancillary fees.
@pkmathome1500
@pkmathome1500 3 месяца назад
I wonder that too. I just saw an hoa foreclosure for $7k go for $78k, but the 200k loan is 20yrs old…so does excess go to the loan…then can you negotiate with the loan to pay it off?
@MR..181
@MR..181 3 года назад
How to sell without defrauding buyer..ah, distressed sale, from why?
@karenlugo9734
@karenlugo9734 3 года назад
Hello
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