Need Help With Pre-foreclosure In Minnesota
In my area they do not list the address of the property in the notice of default in the local paper. They do give the legal description.
How do I find the owner and make contact with them? Also in Minnesota there is a 6 month redememtion period. I have read a lot about having owner sign over property then just pay loan up. Will the bank just let you assume the loan like that?
Anyone doing this in Minnesota or else where that can help. Also any free letters or example of info packet please let me know. Thanks to all.... <IMG SRC="images/forum/smilies/icon_biggrin.gif"> [ Edited by JamesStreet on Date 08/25/2003 ]
Hi,
i can provide you with current listings,names ,addresses and even how much is owed,for a ****Must Reach Senior Investor status before posting URL's***imsinclair2001@yahoo.com
Looks like you charge $10 a property. Do you do the whole state or just the cities? Thanks for the offer and I will check out your info. Send a private message with the website. Thanks
Try going to your county and tell a clerk the Legal description of the property. In Henn & Ramsey county I find the employees very helpful and friendly.
once you get the address they can give you all document numbers filed on that property. You can look up and print as much info as you want.
Call 411 and get the owners telephone # or go to anywho--dot com or yahoo people search. Send a letter, knock on the door do what ever it takes. <IMG SRC="images/forum/smilies/icon_cool.gif"> [ Edited by Homemagnet on Date 08/28/2003 ]
Home,
Thanks I will do that... I am in the Rochester/Winona area but I also have property in Albert Lea. I will stop by and chat with the court house people. Hope they are as nice as the people you have mentioned. Do you have any other advise? Have you bought any pre-foreclosuer homes in your area? If so how did you do it...if you don't mind sharing. I believe in life long learning and will never call myself an expert. Thanks again......
Never bought I preforeclosure But I think I will lose my mind if I don't buy at least 10 of them before this year is out.
Just wholsale, Lease Options and rehabb partnerships. Had one willing individual who wanted me to beacome her landlord on a Lease option after I satisfied her deliquent mortgage with Homeside.
When on a planned vacation out of the country left the deal with an associate to handle. Fell by the wayside. At her time of Option 20k could have been made but no cash flow each month. And she didn't want to relocate and she only could afford a certain amount each month. So I guess I wasn't to excited about this one at the time. But now I regret the fact that I left it in this guy hands.
Since I work at a mortgage Co. I have all the telemarketers give me leads of all sellers, bankruptcies, deliquent homeowners. They have a short script for the people to see where they are at and if its a good deal or not. I call them back at my earliest convience and see where they are truely and kindly as possible. Using empathy. I check em out at the courthouse and through property info for whatever county their in.
When you set an appointment with this people be very gentle and be a good listner. They will probaly will tell you everything about their situation and give all documents on the motgage.
Hey I'm looking for some partners with good credit and/or cash for real estate deals in Minnesota. Would you be interested in networking, partnering up on a few and maybe enterprising and exploding the market.
e-mail me and let me know what you think.
Hey check out DerrickAli the vet he sounds like he really knows the business bro. I'm not even six months old, but I'm moving like a frieght train.
Dave
Thanks for info... I am heading to a meeting right now but send me a private message and we can see what we can work out.....
Home,
I have read his stuff and he has given me a lot of good advise. I am always open to partners. I have found that when I tell someone what I am doing I get two responces.... One is "Are you nuts that stuff doesn't work" or two " I have always wanted to do it can you give me advise or can I partner with you" both statements just make me think that I am doing the right thing for me and my family. Thanks again and keep the replys coming and you don't have to be from Minnesota to help.........
JAMES and HomeMagnet:
THANKS for the compliments and NICE to meet you both as well!
Feel free to use the SEARCH feature under the Foreclosure/pre-forclosure Forums as Well As the ARTICLES for my prev. Answers to other post and submissions on this topic!
Best of Good Fortune to You Both!!!
Derrick Ali
Derrick,
Your input has helped me a lot. Keep up the great work us "new" guys need all the help we can get. Now I need advise on this subject. I am reading Buying Real Estate Foreclosures by Melissa S. Kollen-Rice. She talks about Equity Sharing as a way to get owner occupied financing. Basicly you and a partner buy the house the partner lives in the house pays you rent for your share and then buys you out after x many years. Does this work? If you have any ideas on this or anyone else let me know. Thanks[ Edited by JamesStreet on Date 08/29/2003 ]