Our affiliates:


Nike Sweatshirt For Boys

Back in 2004 our market in Colorado was just past it peakand our county Nike Sweatshirt For Boys was about to lead the nation in foreclosures. We had an abundance of builders and building going on in the area, much more than the population and local economy could support. There wereplenty of foreclosures available back then in our area and we purchased our fix and flips almost exclusively from the Public Trustee foreclosure sale. Nike Hoodies For Women Blue

Nike Sweatshirt For Boys

Nike Sweatshirt For Boys

Luckily we did not have to deal with any of the clean up, because the house burned down!

We had never dealt with a meth house and at the time we didn know much aboutthe drug. On top of everything else, we had no idea when the police would release the home and how that situation would work out either. I had heard of police seizing drug houses and possessions and auctioning them off.

How to Clean up a Meth House

The gentleman living there, who had been our main contact had decided to get some gas without paying for it. A policeman happened to be in the area and followed the gentleman home (the house we owned). The gentleman in his brilliance went inside and left the front door wide open, the policeman went in and found them cooking meth.

I started writing an article this week that went over investing terms and rules like the 70% rule and ARV.

The gentleman went to jail, the police took over the house as a crime scene and we were a bit overwhelmed with everything. The gentleman even called us from jail and asked my dad if he wasgoing to get the rest of his money. Um No.

Free eBook from BiggerPockets!

Get The Ultimate Beginner's Guide to Real Estate Investing for FREE read by more than 100,000 people AND get exclusive real estate investing tips, tricks, and techniques delievered straight to your inbox twice weekly!

Nike Sweatshirt For Boys

Nike Sweatshirt For Boys

A Surprise in the Paper

there was a lot of fraud going on as well.

Nike Sweatshirt For Boys

The crazy part, is we still made a little bit of money on the deal even after waiting a year for the insurance approval and the rebuild process.

Nike Sweatshirt For Boys

This particular house was built inthe 1990s and was a ranch with a basement. This was all legal back then, but seemsverysketchy thinking back on how things were done. We loaned them $1,000 to create a Deed of Trust, they signed a Quit Claim Deed giving us rights to the home and we also had an agreement saying if we ended up purchasing the home, we would give them another $4,000 if they left the home in good condition. There were many deals where we bought 2nds or did a Deed of Trust like this and lost our money, because we didn end up with the house. There were many things we saw that should have sent us running away from the home. At the time, we saw a great price and we weren that knowledgeable about an up and coming drug: meth.

After about two paragraphs I was bored out of my mindand I decided to write about something more fun and leave that article for another time. After last week article about the economy, I needed something fun to write about anyway. Here is a story about a house my father and I bought back in 2004 as a fix and flip. Thesituation was not much fun at the time it happened, but everything worked out okay and it was a good learning experience.

There were security cameras on each corner of the exterior of the home, which is a huge red flag on homes in a lower price range. When we went in the house it smelled weird, but we were used to horrible smelling homes. We though it was a Nike Coats On Sale

We saw that article in the paper as well before anyone informed us. One night someone had broken into the home and either accidentally or purposely set the basement bed on fire, which spread to the curtains, walls and ceiling. The fire department was able to put out the fire before then entire house went up in flames, but the damage was done. I guess it made sense to look at the owners first, since the meth clean up was not covered by insurance, but the fire damage was. Bother my dad and myself were interrogated by a local policeman in one of those little concrete rooms. I am not sure if they were just going through the motions, but the policeman interviewing me was very young and reading all the questions off of a piece of paper. They had to conduct their own investigation and it took six months before they approved our claim to rebuild the home. Luckily we knew a great builder and he was able to demolish the old house and build a brand new home on the existing foundation. About a year after we had purchased the home, we were ready to sell it!

Nike Sweatshirt For Boys

We had given the occupants a few weeks to move out when we saw a rather disturbing article on the front page of the local paper.

A True Real Estate Investing Story

mix of cigarette smoke and trash at the time. They took us downstairs to the basement and there was another guy messing with some stuff in a room that they said we couldn go in right now. Anotherred flag is when the owner won yousee the entire house. The last and most disturbing sign of something amiss, was there was an entire family living in the home. We met the children who were probably teenagers and they were not all there. My guess is the chemicals in the home had affected everyone and the children more so due to them developing.

Nike Sweatshirt For Boys

Nike Sweatshirt For Boys

The Purchase Process

Nike Sweatshirt For Boys

The Public Trustee had different rules back then and there were many tricks to getting a good deal at the sale. At the time, there was a 75 day owner redemption period after the foreclosure sale. Junior lien holders could also redeem the home after the foreclosure sale, which made for an interesting 75 days. We would bid on the homes at the sale and then wait to see if anyone redeemed or we would try to buy 2nds, we would try to buy judgments or we would try to contact the owner and create a lien with them. With a 2nd, judgment or lien we could redeem the home from whoever bought it at theforeclosure sale. We had to pay off the bid amount, any interest from the sale and other costs like insurance or whatever thetrustee would allow. It took a lot of strategy and risk to get a great dealat the trustee sale and Nike Jacket Price

Nike Sweatshirt For Boys

Nike Long Sleeve Dri Fit Womens

Nike T Shirt Full Sleeve

Nike Windrunner For Kids

Nike Jackets Sale

Converse Grey Leather
Nike Windrunner Orange And Black

Converse Blue Low Cut
Nike Windrunner Women's Jacket

Converse Neon Blue
Converse Uk Mens Size 10
Nike Windrunner For Women

Nike Gray Pullover

Nike Windrunner Jacket Women's Black And White

Nike Long Sleeve Top

Converse High Tops Reddit

Home / Nike Sweatshirt For Boys