Well when i sold foreclosures there was no mention of them being a foreclosure on the yard sign. In fact, we were encouraged to market them as much like a normal listing as possible.
This reminds me of a story I once saw on the news (or a news magazine program), where a lady owned a house, and she always paid her property taxes. Then one day she did not pay the property tax, so the city foreclosed on her house. Lots of time passed, and the only thing the city did was cut the grass. The city never went inside, or anything. Finally, the house was sold at auction. The man who bought the house moved in. Everything seemed fine. Then suddenly one day, he called 911 because he discovered the previous owner's body in the house. He knew it was her, and (we even hear on the 911 recording), he knew the reason she didn't pay property tax that time was because she died in the house. True story.
Paralegal calls you on the day of eviction: Congratulations, this t wasn't crossed and this i not dotted, you're getting a free house! Paralegal on the day you leave court: My bad, here's my $25,000 bill.
If I found an unexpected vehicle or anything of value in a property I bought I would tow it to the street, doors unlocked and call the police about a suspicious vehicle parked on the street. Growing up in let’s say urban environments - I know better than to try and solve situations like this.
Have a friend who had a rental house in Texas. It was vacant and he was ready to sell, but found there was a late model car in the garage. He was pretty sure the car was up for repossession. So he left the garage door up, and a few days later the car had disappeared.
The DEA maintains the National Clandestine Lab Registry of previously raided houses. There are some bargains if you can stand the smell of meth reagents.😮
9:00 They did you a favor burning it - if they really were cooking meth, the toxic chemicals do absorb into the drywall, insulation, etc. The house is a total gut-job and environmental hazard clean-up; and renovation; which could end-up costing way more than a post-fire total rebuild. You can die from some pretty nasty conditions breathing in the third-hand fumes and vapors from an un or improperly cleaned drug lab.
@@investfourmore Honestly, a little Sherriff of Mayberry to not be immediately looking at the guy who could get his whole case thrown out for evidence literally going up in smoke. But they have to suspect you too, just in-case the criminal claims you did it (happens a lot). Thought I'm sure your title insurance, the realty board, and all the other agencies would have been way up in that case too if they even remotely thought you were involved. No insurance company wants to pay out for a total loss fire (arson); and no title company wants to cover the unreported sale of a meth lab. All those agencies and insurances would have fought to prove your innocence (or screw you).
Do ya have to sign an agreement with the lister in order to see the house? A friend of mine did doesn't make sense to sign one just to look at the property
i know many creators who have been predicting a crash try to twist the data to say that as well. I have yet to see any area with a significant oroce drop. Ibcould be wrong though. Do you have a town or zop code?
isn't easy to kindof solve though? Well, First thing to do is. Well, Talk to the Police, Tell them You Just Purchased a Foreclosure Property. IE Fully Own it Now. But their is a CAR in the Garage still. Just ask them if They Can come check it out? or if they would Recommend it being Towed away instead? I Mean how can the Car be a Legal Nightmare for you? if they property is YOURS Now. Previous Owners Have Nothing to do with the Property anymore, Can Not Get anything Out of the Property anymore.
Thank you Mark for the video. Really enjoyed your stories❣️ I have so many in my 35 years of buying properties too. Every deal is different. You actually lucked out with that meth lab house when it burned down; ha! you would have had to take it to the studs anyway.
WOW, that was a small lot on that house. .16 is less that my previous house in WV which was .20. That sounded like a terrible purchase especially if you lost $$$$. I have been watching lots of real estate value vids lately, and it has dropped 30-50% in many places not including the cost of insurance skyrocketing and HOA if someone has a condo like so many in FL. Even investors have to be cautious as the prices are dropping so fast if they put in an offer it might drop substantially more and people who could afford a house when insurance was much lower cannot afford it now as their future is uncertain. Many realtors or video creators say it's CHEAPER to rent thus avoid all the maintenance, insurance and possible depreciation. I see some builders/developers are leaving places unfinished as the ones they completed arent selling and also giving serious incentives to buy.
@@investfourmore I have been watching Michael Bordenaro and a few other creators, they mention plenty of areas in FL and CA that have dropped or what people may have paid at the peak have dropped substantially.
@zxtenn i know many creators who have been predicting a crash try to twist the data to say that as well. I have yet to see any area with a significant oroce drop. Ibcould be wrong though. Do you have a town or zop code?
@@emilyfeagin2673 I watch Micheal Bordenaro and he spends lots of time mainly in Miami FL where he lives and also gets to CA and at times other states and areas, the drastic price cuts he shows are usually listed on Zillow, also of concern are the skyrocketing insurance and property taxes however its not nationwide.
I have a friend that will tow anything. Usually they dump them in an un-monitored parking lot , or in front of fire hydrants. We look at nothing. No photos, no VIN, no tag... You are one of those that talks a lot... while saying nothing.
I have recently subscribed to your channel and first time commenting. I just wanted to thank you for your videos. I love how much you go into detail and present things with so much information. Your videos and stories are so interesting. My husband and I were going to get into real estate a long time ago but we were afraid of jumping in and taking the risks. Now that we are older, I wish we would have done it back then. However, we still have time to revisit it again. I plan on purchasing your books soon and make some goals for 2025. Thanks again and Happy Thanksgiving.
"Possession is nine-tenths of the law". Of course you have to consider that "possession of stolen property" is also something you might want to factor into your thinking. And if you asked a lawyer (or google), they might school you on the "unlawful conversion" legal concept.
@@NinjaTenKI go over it in the video. Every state I know of has laws saying if things are left over a certain value you must do a personal property eviction or even hold them in storage.
![ILLSLICK - KILLSHOT REMIX [FULL VERSION]](http://i.ytimg.com/vi/RIK8RrqIAzE/mqdefault.jpg)
I have a few stories after being in this business a bit lol. Here is the meth fire story I mentioned: th-cam.com/video/gSkNyM_ZHP8/w-d-xo.html
That was methed up!
@@jaynecobb1😂😂😂😂
It amazes me that people would prioritize owning a BMW over paying their mortgage.
But they were getting a free house!
During the last real estate crash I saw so many foreclosure signs on lawns it looked like some guy named foreclosure was running for office.
Cool unsupported narrative bruh...
Well when i sold foreclosures there was no mention of them being a foreclosure on the yard sign. In fact, we were encouraged to market them as much like a normal listing as possible.
This reminds me of a story I once saw on the news (or a news magazine program), where a lady owned a house, and she always paid her property taxes. Then one day she did not pay the property tax, so the city foreclosed on her house. Lots of time passed, and the only thing the city did was cut the grass. The city never went inside, or anything. Finally, the house was sold at auction. The man who bought the house moved in. Everything seemed fine. Then suddenly one day, he called 911 because he discovered the previous owner's body in the house. He knew it was her, and (we even hear on the 911 recording), he knew the reason she didn't pay property tax that time was because she died in the house. True story.
Sometimes it isn’t the “ bargain” you think it is
Paralegal calls you on the day of eviction: Congratulations, this t wasn't crossed and this i not dotted, you're getting a free house!
Paralegal on the day you leave court: My bad, here's my $25,000 bill.
I always wonder what they paid her
@@investfourmore Hope they didn't forget to tip her for wasting 4 months of their time on a pipe dream!
If I found an unexpected vehicle or anything of value in a property I bought I would tow it to the street, doors unlocked and call the police about a suspicious vehicle parked on the street.
Growing up in let’s say urban environments - I know better than to try and solve situations like this.
Good idea. Although the address the vehicle is registered to may well be the house you just bought... might complicate things somewhat.
Have a friend who had a rental house in Texas. It was vacant and he was ready to sell, but found there was a late model car in the garage. He was pretty sure the car was up for repossession. So he left the garage door up, and a few days later the car had disappeared.
Happy Thanksgiving eve everybody! Have a safe and joyous holiday!! 😊🦃
You too!!
Thanks for the quickie class on why you should NOT buy a foreclosure :-) Way too risky!
Yep getting a reclaimed title for it before you can move it sometimes you pay more after then you would have if you bought it off a lot
The DEA maintains the National Clandestine Lab Registry of previously raided houses. There are some bargains if you can stand the smell of meth reagents.😮
Meth is a hazardous material
It's amazing how ignorant some people can be. I can't imagine the stress of dealing with that as a younger investor... nothing passive about it
Flipping is definitely not passive
With all those pitfalls why would anybody invest in CO property?
This was when Colorado was much easier to work in too
9:00 They did you a favor burning it - if they really were cooking meth, the toxic chemicals do absorb into the drywall, insulation, etc. The house is a total gut-job and environmental hazard clean-up; and renovation; which could end-up costing way more than a post-fire total rebuild. You can die from some pretty nasty conditions breathing in the third-hand fumes and vapors from an un or improperly cleaned drug lab.
100%..the police interviewed us thinking we may have done it. At the time I had no idea about meth houses or how serious it was.
@@investfourmore you think the previous occupant that you refused to give anymore money to had something to do with it burning down?
@randerson4124 it wasn't them, they were in jail. It was an "acquaintance" of them.
@@investfourmore Honestly, a little Sherriff of Mayberry to not be immediately looking at the guy who could get his whole case thrown out for evidence literally going up in smoke. But they have to suspect you too, just in-case the criminal claims you did it (happens a lot). Thought I'm sure your title insurance, the realty board, and all the other agencies would have been way up in that case too if they even remotely thought you were involved. No insurance company wants to pay out for a total loss fire (arson); and no title company wants to cover the unreported sale of a meth lab. All those agencies and insurances would have fought to prove your innocence (or screw you).
Do ya have to sign an agreement with the lister in order to see the house? A friend of mine did doesn't make sense to sign one just to look at the property
Have to sign with an agent. Not necessarily the listing agent. Could be a buyers agent. New laws from our government
@investfourmore he said it was the listing agent that required it
@angiemoses130 if he wanted the.listing agent to show him the house then yes but he could have a buyers agent show him too.
Jeepers - Fascinating segment. Thank You. :>)
Thank you for this valuable information 🙏🏾
i know many creators who have been predicting a crash try to twist the data to say that as well. I have yet to see any area with a significant oroce drop. Ibcould be wrong though. Do you have a town or zop code?
I was looking at my local, MLS this morning. I’m not seeing any significant price drops here. ( Pittsburgh area)
Thank you! I love your Videos
isn't easy to kindof solve though? Well, First thing to do is. Well, Talk to the Police, Tell them You Just Purchased a Foreclosure Property. IE Fully Own it Now. But their is a CAR in the Garage still. Just ask them if They Can come check it out? or if they would Recommend it being Towed away instead? I Mean how can the Car be a Legal Nightmare for you? if they property is YOURS Now. Previous Owners Have Nothing to do with the Property anymore, Can Not Get anything Out of the Property anymore.
In the video i discuss in detail the legal nightmare.
Skip to 9:21 if you just want to hear the relevant story.
It appears the same people that bought it from you in 2011 still own it.
I think so!
Thank you Mark for the video. Really enjoyed your stories❣️ I have so many in my 35 years of buying properties too. Every deal is different. You actually lucked out with that meth lab house when it burned down; ha! you would have had to take it to the studs anyway.
I know!
WOW, that was a small lot on that house. .16 is less that my previous house in WV which was .20. That sounded like a terrible purchase especially if you lost $$$$. I have been watching lots of real estate value vids lately, and it has dropped 30-50% in many places not including the cost of insurance skyrocketing and HOA if someone has a condo like so many in FL. Even investors have to be cautious as the prices are dropping so fast if they put in an offer it might drop substantially more and people who could afford a house when insurance was much lower cannot afford it now as their future is uncertain. Many realtors or video creators say it's CHEAPER to rent thus avoid all the maintenance, insurance and possible depreciation. I see some builders/developers are leaving places unfinished as the ones they completed arent selling and also giving serious incentives to buy.
I don't know anywhere that prices have dropped more than 5%. Nationally they almost exactly the same as last year.
@@investfourmore I have been watching Michael Bordenaro and a few other creators, they mention plenty of areas in FL and CA that have dropped or what people may have paid at the peak have dropped substantially.
@zxtenn i know many creators who have been predicting a crash try to twist the data to say that as well. I have yet to see any area with a significant oroce drop. Ibcould be wrong though. Do you have a town or zop code?
Real Estate is local. I’m in the Pittsburgh area. I’m not seeing many price reductions here any more than usual.
@@emilyfeagin2673 I watch Micheal Bordenaro and he spends lots of time mainly in Miami FL where he lives and also gets to CA and at times other states and areas, the drastic price cuts he shows are usually listed on Zillow, also of concern are the skyrocketing insurance and property taxes however its not nationwide.
I have a friend that will tow anything. Usually they dump them in an un-monitored parking lot , or in front of fire hydrants. We look at nothing. No photos, no VIN, no tag...
You are one of those that talks a lot... while saying nothing.
Yes i follow the law here. It's not worth breaking to save a few dimes.
FYI, i didn't mention towing or not being able to tow at all in this video. Did you watch any of it?
I have recently subscribed to your channel and first time commenting. I just wanted to thank you for your videos. I love how much you go into detail and present things with so much information. Your videos and stories are so interesting. My husband and I were going to get into real estate a long time ago but we were afraid of jumping in and taking the risks. Now that we are older, I wish we would have done it back then. However, we still have time to revisit it again. I plan on purchasing your books soon and make some goals for 2025. Thanks again and Happy Thanksgiving.
Thanks! I appreciate it
Anything left in the home after it sells becomes that person property
That is 100% false.
@@investfourmoreI second that ❤
"Possession is nine-tenths of the law". Of course you have to consider that "possession of stolen property" is also something you might want to factor into your thinking. And if you asked a lawyer (or google), they might school you on the "unlawful conversion" legal concept.
@ explain?
@@NinjaTenKI go over it in the video. Every state I know of has laws saying if things are left over a certain value you must do a personal property eviction or even hold them in storage.