Is this a FLIP?

[peterb]

thanks. That’s all I was curious about. Sounds like you’re looking for indicators that the property is headed for default of the loan. Which suggests to me that the deals are short sales. But it’s also occured to me that lenders may avoid paying property tax after they’ve taken the property. So you could get an idea of an REO before the lender has taken any action on it. Kinda like seeing into the shadow inventory.

15% at 4 times a year annualizes out at roughly 60%. Nice work.

For all the people out there that are wondering about the better areas of SD County and whether or not the zip code they’re interested in is showing any signs of weakness….tax roll data could prove to be a very useful indicator as to future problems and opportunities. Getting lender data real-time is all but impossible, but county tax records are a different story. Smart!!!

[paramount]

“Locals with a keen eye for local markets”

Is this realtor speak for “the market is rigged”?

[paramount]

“Locals with a keen eye for local markets”

Is this realtor speak for “the market is rigged”?

[paramount]

“Locals with a keen eye for local markets”

Is this realtor speak for “the market is rigged”?

[paramount]

“Locals with a keen eye for local markets”

Is this realtor speak for “the market is rigged”?

[paramount]

“Locals with a keen eye for local markets”

Is this realtor speak for “the market is rigged”?

[SD Realtor]

Hi Peter –

Yes definitely you want to find the homes in default and even with NOTs. I don’t even look for short sales, I just go right to the tax roll or study the information from my title officer. As far as the additional costs after a trustee sale, yes you need to account for all of those which is another reason why a good title officer is essential and of course you need to build these costs into your margin of course.

Yeah that 60% number makes me drool as well. Again none of this is easy money and yes there is risk involved but none of this is out of the realm to do….well except for the cash part…

I bet Bruce (and I would imagine he has investors) is doing really well.

*************

paramount no the game is not rigged. The game is won by those who work at it. I can tell you pretty much any street here in Scripps… I live here, I know it well and I know what will sell and what will not sell. If I see a property go to REO and the first mortgage is significantly less then what I feel the current market would be for that home and I find no other major liens it would be a good purchase and flip.

This is what I meant.

Nothing is rigged I am sorry to tell you.

[SD Realtor]

Hi Peter –

Yes definitely you want to find the homes in default and even with NOTs. I don’t even look for short sales, I just go right to the tax roll or study the information from my title officer. As far as the additional costs after a trustee sale, yes you need to account for all of those which is another reason why a good title officer is essential and of course you need to build these costs into your margin of course.

Yeah that 60% number makes me drool as well. Again none of this is easy money and yes there is risk involved but none of this is out of the realm to do….well except for the cash part…

I bet Bruce (and I would imagine he has investors) is doing really well.

*************

paramount no the game is not rigged. The game is won by those who work at it. I can tell you pretty much any street here in Scripps… I live here, I know it well and I know what will sell and what will not sell. If I see a property go to REO and the first mortgage is significantly less then what I feel the current market would be for that home and I find no other major liens it would be a good purchase and flip.

This is what I meant.

Nothing is rigged I am sorry to tell you.

[SD Realtor]

Hi Peter –

Yes definitely you want to find the homes in default and even with NOTs. I don’t even look for short sales, I just go right to the tax roll or study the information from my title officer. As far as the additional costs after a trustee sale, yes you need to account for all of those which is another reason why a good title officer is essential and of course you need to build these costs into your margin of course.

Yeah that 60% number makes me drool as well. Again none of this is easy money and yes there is risk involved but none of this is out of the realm to do….well except for the cash part…

I bet Bruce (and I would imagine he has investors) is doing really well.

*************

paramount no the game is not rigged. The game is won by those who work at it. I can tell you pretty much any street here in Scripps… I live here, I know it well and I know what will sell and what will not sell. If I see a property go to REO and the first mortgage is significantly less then what I feel the current market would be for that home and I find no other major liens it would be a good purchase and flip.

This is what I meant.

Nothing is rigged I am sorry to tell you.

[SD Realtor]

Hi Peter –

Yes definitely you want to find the homes in default and even with NOTs. I don’t even look for short sales, I just go right to the tax roll or study the information from my title officer. As far as the additional costs after a trustee sale, yes you need to account for all of those which is another reason why a good title officer is essential and of course you need to build these costs into your margin of course.

Yeah that 60% number makes me drool as well. Again none of this is easy money and yes there is risk involved but none of this is out of the realm to do….well except for the cash part…

I bet Bruce (and I would imagine he has investors) is doing really well.

*************

paramount no the game is not rigged. The game is won by those who work at it. I can tell you pretty much any street here in Scripps… I live here, I know it well and I know what will sell and what will not sell. If I see a property go to REO and the first mortgage is significantly less then what I feel the current market would be for that home and I find no other major liens it would be a good purchase and flip.

This is what I meant.

Nothing is rigged I am sorry to tell you.

[SD Realtor]

Hi Peter –

Yes definitely you want to find the homes in default and even with NOTs. I don’t even look for short sales, I just go right to the tax roll or study the information from my title officer. As far as the additional costs after a trustee sale, yes you need to account for all of those which is another reason why a good title officer is essential and of course you need to build these costs into your margin of course.

Yeah that 60% number makes me drool as well. Again none of this is easy money and yes there is risk involved but none of this is out of the realm to do….well except for the cash part…

I bet Bruce (and I would imagine he has investors) is doing really well.

*************

paramount no the game is not rigged. The game is won by those who work at it. I can tell you pretty much any street here in Scripps… I live here, I know it well and I know what will sell and what will not sell. If I see a property go to REO and the first mortgage is significantly less then what I feel the current market would be for that home and I find no other major liens it would be a good purchase and flip.

This is what I meant.

Nothing is rigged I am sorry to tell you.

[peterb]

Smart work. Not rigged. This is how people that know their craft make money. A lot of the remarks I see on this site indicate to me that many people are not very serious about finding out what’s really going on.

This is good advice for anyone that’s really interested in a certain area. Do some investigation into the financial stability of the homes in the area. The vacancies, empty looking homes, tax records,etc… there’s lots of data that is public domain. It may not tell you the whole story, but you’ll get a good idea of where to keep looking. Or where it’s going. This level of granularity is not known or discussed by the big picture guys. Their too busy talking about the industry in aggregate. The big picture. That’s why there’s opportunity in knowing the detail of any given hood. House by house. The nice thing about this current crisis we’re in is that you can find homes in trouble. This is tough in the good times.

Incidentally, all the real rigging goes on at the top in plain sight. Just look at what the Feds done for some Wall Street buddies of theirs lately. BS is too big to fail, but I guess Indymac deserves to get thrown under the bus. Sounds fair to me.

[peterb]

Smart work. Not rigged. This is how people that know their craft make money. A lot of the remarks I see on this site indicate to me that many people are not very serious about finding out what’s really going on.

This is good advice for anyone that’s really interested in a certain area. Do some investigation into the financial stability of the homes in the area. The vacancies, empty looking homes, tax records,etc… there’s lots of data that is public domain. It may not tell you the whole story, but you’ll get a good idea of where to keep looking. Or where it’s going. This level of granularity is not known or discussed by the big picture guys. Their too busy talking about the industry in aggregate. The big picture. That’s why there’s opportunity in knowing the detail of any given hood. House by house. The nice thing about this current crisis we’re in is that you can find homes in trouble. This is tough in the good times.

Incidentally, all the real rigging goes on at the top in plain sight. Just look at what the Feds done for some Wall Street buddies of theirs lately. BS is too big to fail, but I guess Indymac deserves to get thrown under the bus. Sounds fair to me.

[peterb]

Smart work. Not rigged. This is how people that know their craft make money. A lot of the remarks I see on this site indicate to me that many people are not very serious about finding out what’s really going on.

This is good advice for anyone that’s really interested in a certain area. Do some investigation into the financial stability of the homes in the area. The vacancies, empty looking homes, tax records,etc… there’s lots of data that is public domain. It may not tell you the whole story, but you’ll get a good idea of where to keep looking. Or where it’s going. This level of granularity is not known or discussed by the big picture guys. Their too busy talking about the industry in aggregate. The big picture. That’s why there’s opportunity in knowing the detail of any given hood. House by house. The nice thing about this current crisis we’re in is that you can find homes in trouble. This is tough in the good times.

Incidentally, all the real rigging goes on at the top in plain sight. Just look at what the Feds done for some Wall Street buddies of theirs lately. BS is too big to fail, but I guess Indymac deserves to get thrown under the bus. Sounds fair to me.

[peterb]

Smart work. Not rigged. This is how people that know their craft make money. A lot of the remarks I see on this site indicate to me that many people are not very serious about finding out what’s really going on.

This is good advice for anyone that’s really interested in a certain area. Do some investigation into the financial stability of the homes in the area. The vacancies, empty looking homes, tax records,etc… there’s lots of data that is public domain. It may not tell you the whole story, but you’ll get a good idea of where to keep looking. Or where it’s going. This level of granularity is not known or discussed by the big picture guys. Their too busy talking about the industry in aggregate. The big picture. That’s why there’s opportunity in knowing the detail of any given hood. House by house. The nice thing about this current crisis we’re in is that you can find homes in trouble. This is tough in the good times.

Incidentally, all the real rigging goes on at the top in plain sight. Just look at what the Feds done for some Wall Street buddies of theirs lately. BS is too big to fail, but I guess Indymac deserves to get thrown under the bus. Sounds fair to me.

[Author]

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