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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Have I done enough research? Posted by Jake on December 17, 2001 at 11:22 PM Ok... I am sure I am going to begin to frustrate some folks but here goes. 1. I identified a property that appears to have a reasonable amount of equity to flip. approx 50K. 2. I identified a first (200K) and a second (30K) trust deed. 3. I went to the courthouse direct website, and got copies of both trust deeds, and the trustee sale notice. Everything appears kosher, no partnerships, or other parties mentioned as part owners. 4. I went to the LA County assessors website and confirmed back taxes of 10K. 5. I have viewed the property. 6. So if things go well at auction, assuming this goes to auction, I get the property for a bit over 200K, pay off the taxes, do approx 10K worth of rehab, the second falls away, and sell for somewhere around 275K. Question: What am I missing? Is there more to this? I guess there could be a lot of competition at auction, which could eat up all margin for profit. But besides that... should I be doing something else? Should I rely on docs from an online title/lien research company? Any insight would be appreciated! Thanks, Jake Follow Ups: Re: Here are some additional points to consider. Ward-CA- 7:10 AM, 12/18/01 (1) Re: Here are some additional points to consider. Jake 11:45 PM, 12/19/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ok... I am sure I am going to begin to frustrate some folks but here goes. : 1. I identified a property that appears to have a reasonable amount of equity to flip. approx 50K. : 2. I identified a first (200K) and a second (30K) trust deed. : 3. I went to the courthouse direct website, and got copies of both trust deeds, and the trustee sale notice. Everything appears kosher, no partnerships, or other parties mentioned as part owners. : 4. I went to the LA County assessors website and confirmed back taxes of 10K. : 5. I have viewed the property. : 6. So if things go well at auction, assuming this goes to auction, I get the property for a bit over 200K, pay off the taxes, do approx 10K worth of rehab, the second falls away, and sell for somewhere around 275K. : Question: What am I missing? Is there more to this? I guess there could be a lot of competition at auction, which could eat up all margin for profit. But besides that... should I be doing something else? Should I rely on docs from an online title/lien research company? : Any insight would be appreciated! : Thanks, : Jake Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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