Crushing Debt Podcast
Below is the episode you requested. Please feel free to load all episodes.
- Episode 290:Suckered by the Condominium Association
Do you buy properties at the foreclosure sale?
Do you buy at the foreclosure sale of the condominium or homeowner association?
If so, you may end up with a property that has no equity AND still be responsible to pay the association every month.
This week's episode is also based on Episode 26 where I discuss lien priority, and is also based on an actual client who bought three association properties at foreclosure sale, for somewhere in the range of $40,000 each, and AFTER the sale learned that each one had a first mortgage in place that eliminated any equity or profit she thought she made when purchasing the properties.
Learn how we were able to help her recoup some of her money, but more importantly learn how we can help other investors avoid this mistake!
Please also refer our sponsor, Sam Cohen, to an attorney or title company you know in Florida or Texas who needs to renew their professional liability insurance. Sam@AttorneysFirst.com or www.AttorneysFirst.com.
Also check out www.Podfestexpo.com for the return of Podfest Origins LIVE on November 4 & 5, 2021 (I'll be participating and speaking if you want to meet up with me).
Finally, my books contain other tips and tricks to help you have more money at the end of the month, rather than more month at the end of the money. www.ShawnMYesner.com/BecomeDebtFree.