InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Not mine (I've NEVER lost on a deal :))... but Posted by Kristine-CA on November 20, 2009 at 8:58 AM In Reply to: Not mine (I've NEVER lost on a deal :))... but posted by JK (the other JK) on November 19, 2009 at 8:19 AM The story has great drama and a great photo. But why a 100% loss? Who bought a 1M property (any property for that matter) and didn't insure? If it was to be a double/simo close, the buyer only loses their deposit. Something isn't right with this story. : : I've been lurking for awhile now and have found this forum to be invaluable. Thank you Ward! I plan on taking your training BEFORE I start in the game. : : I thought it might be an interesting exercise to have those that wish, post about their WORST deal. I tend to learn best from my mistakes...any one else? So how about it...? : : What was your worst deal? Why? : : What did you learn? What did you do differently after that? : A certain former janitor trained by Ward bought an $1M+ property on a hill CASH. Two weeks before escrow close on the flip L.A. experienced some serious rain. The mayor came on TV and announced the good news that L.A. only lost one property. Did I mention no insurance exists for soil erosion? Here's the photo of the aftermath: : http://www.flickr.com/photos/troubleshots/213371933/sizes/o/in/set-72157594234241565/ : The city came and red tagged the lot. 100% loss. : Follow Ups: It's a free country. Choose to believe what you like. JK (the other JK) 5:18 PM, 11/20/09 (1) Volume players Kristine-CA 8:13 AM, 11/21/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : The story has great drama and a great photo. But why a 100% loss? Who bought a 1M property (any property for that matter) and didn't insure? If it was to be a double/simo close, the buyer only loses their deposit. : Something isn't right with this story. : : : : I've been lurking for awhile now and have found this forum to be invaluable. Thank you Ward! I plan on taking your training BEFORE I start in the game. : : : I thought it might be an interesting exercise to have those that wish, post about their WORST deal. I tend to learn best from my mistakes...any one else? So how about it...? : : : What was your worst deal? Why? : : : What did you learn? What did you do differently after that? : : A certain former janitor trained by Ward bought an $1M+ property on a hill CASH. Two weeks before escrow close on the flip L.A. experienced some serious rain. The mayor came on TV and announced the good news that L.A. only lost one property. Did I mention no insurance exists for soil erosion? Here's the photo of the aftermath: : : http://www.flickr.com/photos/troubleshots/213371933/sizes/o/in/set-72157594234241565/ : : The city came and red tagged the lot. 100% loss. : : [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455