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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (138390)8/1/2008 12:21:31 PM
From: Johnny_Blaze_420Read Replies (2) | Respond to of 306849
 
Yes, I believe california does not even do tax sales. at least that is what i'm reading.

So, the liklehood of paying $10,000 for a very nice property in 5 years is probably zero. However, you will still get your return.

Major caveat is to secure your position, check title, perfect the lien, notify..etc. it's a fairly cumbersome process and I also believe you may get wiped out if the owner files BK.

there is no free lunch and no free way to get 18% otherwise everyone would be doing it, right! :)



To: John Vosilla who wrote (138390)8/2/2008 1:21:06 AM
From: Sr KRespond to of 306849
 
Merrill Lynch bid some down to 5%-6%, and I know of one that was bid down to 2%. The "investor" got his money in 2.5 years which is how long it took to total the 5% minimum.

The TV commercials tell less than half the story.


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