Investment Group

[Indigo Dutton]

Hi everyone,

I read an article today that alerted me to developing opportunities
for highly profitable investments in apartment complexes. It’s the
type of investment one might want to do as part of an investment
group.

In general I’ve been thinking about the idea of an investment group
and feeling out interest within our RE Finance class. My idea for the
group would be that we would share information and split work on
researching prospective property deals. Some within the group might
pair up to combine funds to make purchases, while others might not yet
be in a “purchase ready” situation. They would still benefit from
participation in the group, provided those who acted on group
developed value assessments were willing to keep the group informed
over time of the success or obstacles encountered with their
investments. In this way we could learn together and over time each
help one another succeed as investors.

Logistically we might take turns fulfilling different property
assessment roles. One month I might go to auctions with one other
person and collect information there. The properties we collect
information on might then be researched for liens and encumberances by
someone else. Another person might collect comps, and so on. Then once
a month we could have online meetings through software like
GoToMeeting (which I have an unlimited account for) and share
information on our computer screens and within a conference call. That
way we would only need to coordinate small slices of our schedules
rather than having to also get together in one place and deal with the
commute.

I’m very open to variations on these ideas, but think in general some
type of structured collaboration might benefit all participants,
regardless of our being in different stages with our investment
careers. I plan on taking the RE Investments class with Grant in June,
so this is something I would like to get going right after that class
ends, say mid-July.

If you want to read a rather sad story that includes a seed of
opportunity to not only help these people but profit greatly oneself
in the process, take a look at this article for a heads up on the
coming tide of foreclosures within the apartment complex sector
http://www.msnbc.msn.com/id/29697413/

Indigo

[Becki Sanders]

Indigo,

I think this is a great idea and I definitely want to be involved in the meetings and possibly in mutual investments.  I am also in Grant's Investing class so the timing works for me.  Thanks for initiating this.

Becki Sanders

[Aditya Angrish]

Sounds Great Indigo.

Becki, can we have sub-groups in google groups? (we may need to have different mailing lists depending on interests - Single Family, Multi-Units, Commercial etc.

Aditya

[Becki Sanders]

Aditya,

If you're asking a technical question of whether or not google groups is capable of that function, I don't think so.  It seems pretty simplistic in that way.  However, we could certainly start new group strictly dealing with Investing and then open separate "pages" in that group dealing with discussions around each of those subs.  Perhaps there is a better site for starting groups with better functions such as the ability to send separate emails.

[Aditya Angrish]

Thanks Becki,
Lets keep it all here for now. I'm sure we can start another group if things get too hectic or confusing.

Aditya

[Indigo O. Dutton]

I’m glad there is some interest. Also, here is an article that includes some helpful insights on purchasing within the foreclosure market http://www.msnbc.msn.com/id/29744491/

 

Here's an excerpt:

 

"... pore over lists of homes scheduled for auction, drive through neighborhoods, peer into back yards, try to legally see inside houses wherever they can, and research mortgages, title status, tax liens, building permits and zoning." This is a good "to do" list for our investment group to portion out tasks with.

 

Indigo

[Becki Sanders]

Can someone tell me the website to look up liens in Vallejo? I found a site but it's a search by name, not property address.  So maybe I need a website that will give me the property owner's name.  Ideas?

 

Thanks, 
Becki 

[quy lay]

Hi Becki,

After doing some snooping, I believe the below is the link you are looking for.

http://recorderonline.solanocounty.com/

Hopefully you find what you're looking for.

Quy

[Aditya Angrish]

Becki,
Propertyshark.com - its on the Real Estate links page. It'll tell you the current owner of record (and the last few transactions and sale prices etc).

You may have to go to the county recorder office for any other liens.

Is there another auction coming up? A regular sale should include an insurable lien (actually your lender will require it before they fund any loan against said property).

Good luck.

Aditya

[Aditya Angrish]

Sorry -  ...involve an insurable title... (

[quy lay]

My mistake.  I think you are right.  There doesn't seem to be other ways for you to find any liens unless you have the name of the person.  From the looks of the website, this is what I also was able to find:

Am I allowed to research lien information?
Yes, a research room is available to the public at the Solano County building, Assessor/Recorders office, 2nd floor.
NOTE: You will need the name, document number and date of recording, all of which can be found on the Solano County website, under Recorder menu, “View Online Official Records Index”.
 
Here is the link
http://www.solanocounty.com/faqs/categoryqna.asp?id=44#315

Quy