Double Check Your Sources
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Double Check Your Sources (by Ray-N-Pa [PA]) Nov 26, 2023 7:38 PM
       Double Check Your Sources (by Robert J [CA]) Nov 27, 2023 1:22 AM
       Double Check Your Sources (by WMH [NC]) Nov 27, 2023 12:07 PM
       Double Check Your Sources (by BRAD 20,000 [IN]) Nov 27, 2023 8:11 PM
       Double Check Your Sources (by zero [IN]) Nov 28, 2023 7:38 AM

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Double Check Your Sources (by Ray-N-Pa [PA]) Posted on: Nov 26, 2023 7:38 PM
Message:

Just a friendly reminder, Always but Always double check your information source. Last week, I was tracking down a deal of the decade only to find out that a county employee mislabeled what part of a HOA they took at a free and clear auction.

I saw where the bank that held the mortgage was the only bidder on the place. The county was reporting that it was 54 apartments. I thought that is lot work to take on that many non-payers at once, but I am up for that challenge. Well it wasn't the residential part of the this HOA. Instead it was about 70,000 sq/ft of office space of which only 22% is occupied.

The difference between something as sweet as honey and biting into a lemon is the information source. Always double check it. I didn't lose any money but I did lose about 15 working hours

On the plus side, the Non-performing asset manager at Erie Bank knows who I am.

--24.101.xxx.xxx




Double Check Your Sources (by Robert J [CA]) Posted on: Nov 27, 2023 1:22 AM
Message:

Good advice. Thanks for reminding us to double check everything. --47.155.xx.xxx




Double Check Your Sources (by WMH [NC]) Posted on: Nov 27, 2023 12:07 PM
Message:

Regarding staying current with laws and regulations and double-checking your sources:

Do NOT rely on websites that attempt to interpret the actual law for the landlord or tenant. I have found they are simply often wrong.

I have written to a few this year correcting them, and always received an "Oops thank you!" rather than a "You are wrong and here's why" response. The trouble is a lot of their info is cut & pasted from state to state and not updated per state sometimes, or they all copied from the same (wrong) website.

Be sure to check your actual state's laws regarding Landlord/Tenant issues. --173.18.xx.xxx




Double Check Your Sources (by BRAD 20,000 [IN]) Posted on: Nov 27, 2023 8:11 PM
Message:

RayRay,

Our local tax sale is online. SEVERAL bidders on this property, I won for $26,000 The tax records showed photos of a NICE home in the country.

The treasurer comes to our Christmas Luncheons. She gave me a heads up. I missed one digit of the long parcel number. The real estate up for sale due to unpaid taxes was the DITCH behind the residence.

Paid the $6000 fine to drop out.

BRAD --73.103.xxx.xxx




Double Check Your Sources (by zero [IN]) Posted on: Nov 28, 2023 7:38 AM
Message:

Brad, think of all the lillies you could have grown in that ditch tho. Possibly a missed opportunity. --107.147.xx.xxx



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