When preparing to bid on a property, always pull a title swipe. We use http://www.Protitleusa.com for $90 you want to know what you are bidding on. We buy 2nd mortgages and we have foreclosed on properties at auction from 2nd position which means our foreclosure does take place and the winning bidder does win possession of the property, but it is ownership subject to the first mortgage. Many auction bidders perform their due diligence blindly which is hilarious to witness! Especially in Florida where everyone is bidding online like crazy! We saw a bidder bid up a $17,000 2nd to $95,000 and called me later to tell me he bought a $400,000 house for $95,000 at the auction. I asked how much the 1st was owed, he said what 1st? What do you mean? He had already put $30,000 into the rehab by the time I found out (probably more like $50,000). After reviewing the title swipe and contacting Ocwen, the 1st was owed well over $600,000 and was 6 years delinquent they had already started foreclosure themselves. $90 could have saved this disaster. I saw another one lose close to a million because they owned what they thought was a 2nd but turns out to be a 3rd, the 2nd foreclosed and they won the bid on the 2nd and didn’t know there was a 1st. The rehab was completed, taxes were brought current, house went up on the market and the realtor was contacted by an attorney stating that they didn’t own the house anymore because the 1st foreclosed! The 1st position was very patient and just sat back and watched the rehab be completed before they notified anyone which was brilliant! Be careful out there!

If you haven't heard, the 5th Circuit Court of Appeals reinstated the Corporate Transparency Act. Congress extended the date for compliance for existing business until January 13th, 2025. If you have not already completed your BOIR and submitted to FinCEN, I can assist you in filing prior to this deadline.

Hello, Peter Privon here. I'm primarily a public markets investor and am in the process of launching an options trading hedge fund. I'm intrigued by all things finance and as such have looked into SDIRA investment opportunities, learning more about real estate and notes, etc. Looking forward to connecting with others in the group. Located in the Boise, ID area.