Overnight Lien Profits
Will There Be Cold Calling Required
Yes, we get on the phone to close deals for liens. It would be considered cold calling because the lienholders do not know us; however, many are happy to discuss selling or optioning their lien.
Can UCC Filing Place Lien on Debtor State-Wide
UCC-1 financing statements for business collateral are generally filed at the state level, through the Secretary of State, where the debtor is located, providing statewide lien coverage. However, this does not apply to all counties automatically for ...
Silver vs Gold Program Differences
This program has a [SILVER] and [GOLD] variation. The silver version focuses solely on distressed properties going to auction. The gold version includes everything in silver, but also shows how to profit from judgments (i.e. a 20x increase in leads) ...
Can a Judgment Creditor Force Payoff via Credit Cards
No, because credit is not assignable or transferable under CPLR § 5201. Furthermore, permitting such compulsion, from a policy perspective, would create an additional creditor (i.e. the credit card company with no relation to the case) with little ...
What If A Debtor Declares Bankruptcy Before The Auction
Foreclosure investors state that ~75% of all properties scheduled for auction never see the courthouse steps. Some feel bankruptcy is better than foreclosure, believing the ~6 months of delays before eviction outweigh the ~$2,000 in attorney fees ...
What If The Property Does Not Sell For Enough To Pay The Full Value Of The Lien
If the foreclosure does not bring enough proceeds to pay off all of the debt (including the full value of the mortgage), one can still collect the remaining amount from the debtor. A completed foreclosure only wipes the lien off that particular ...
What If Someone Buys The Property Before The Auction
Most investors buying a property at auction will flip it to someone (i.e. owner-occupant) to live in. If the investor wants to sell it, the future owner-occupant will need to obtain clear title to secure a mortgage, requiring all liens against it to ...
What If The Debtor Dies Before One Can Collect On A Judgment Lien
If the judgement debtor dies before one can collect on a judgment, the judgment is typically considered ‘uncollectable’ except in cases where the debtor had considerable assets and the judgment is more than a $5,000, then one may want to try ...
What Are The Best Liens or Judgments To Look For
Look for unpaid / unsatisfied judgments that are 2-9 years old, where the debtor has not declared bankruptcy (e.g. typically between individuals), and the debtor owns real estate or has a good job / owns a business. Most judgments will expire between ...
How To Flip Lien or Judgment For Fast Cash
One can flip a lien to investors with no money and risk. There are numerous websites where one can list the judgment or mortgage and hundreds of investors will make an offer. Simply deduct what was offered to the creditor from what an investor is ...
How To Buy A Judgment or Lien With No Money
First, locate a desired judgment or lien, then simply option the judgment with no cash out of pocket.
What If The Judgment Creditor Is A Corporation, Bank, or Mortgage Company
When unsure of the type of business a company is, Google their name and see what can be found. For example, say (2) creditors are on a named judgment: Diversified Financial Services and Texas Financial Corporate. If they are a large corporation, ...
Does One Need A License To Purchase Liens Or Judgments
No, one does not need a license to purchase property liens or judgments in virtually all cases, especially when buying from a public auction. And a real estate license is not required to review judgments and liens in public records; however, specific ...
What If The Debtor Owns The Property With A Spouse
There are three basic forms of joint ownership that you should be concerned with: TENANTS IN COMMON: The lien will only attach to the judgment debtor’s ownership interest in the property, and continues to exist even if the debtor dies. JOINT TENANCY: ...
What Happens If The Property Does Not Go To Sale
When the deal is optioned, one can simply walk away, extend their option, or buy it now - wait - and collect later. When the deal is purchased, even if the buyer couldn’t qualify for a mortgage today, doesn’t mean it won’t sell, it’s just a matter of ...
There Are Mutliple Addresses Listed On The Judgment - Which One Belongs To The Debtor
First, perform a search for the case number or debtor name, see if there are any other public records that have address information on them. Second, look for matches for middle names or initials. Third, see if the original complaint or the affidavit ...
What Happens To A Lien When The Debtor Goes Into Bankruptcy
The bankruptcy laws give debtors various ways to deal with liens in bankruptcy. One is called “lien avoidance” and it allows a debtor to wipe out a lien completely when the lien impairs the debtor’s homestead exemption. This means that if no equity ...
How Big Can This Property Lien Business Get
Don’t fall into “paralysis by analysis” and just get started. Once the first deal is closed, a lot of the learning curve will have been dealt with. That’s when one can begin to outsource certain parts of their labor. After ~6 months, the entire ...
Why Is Homestead Exemption Important During Foreclosure
Judgment lien exemption laws apply to forced collections, not voluntary sales. If one forces the sale of the property, which is legal with a judgment, one does not get paid until after the 1st mortgage is paid off in full, then the homeowner gets ...
How to Buy Property Without Paying Off Lien
One can create a lien on any real property owned by a debtor by registering the judgment with the Land Records Office in any County in which the debtor holds their assets. When large assets or property serve as the collateral for all of the judgments ...
Can These Same Techniques Be Used to Buy Other Kinds of Property Besides Real Estate
Yes, these same techniques can be used to purchase any kind of lien regardless of property type the lien is attached to, such as: Airplanes Cars Boats Commercial Equipment (i.e., dump trucks, construction equipment, etc.) Water Rights Air Rights ...
How Helpful Are The Attorneys Handling The Foreclosure Auction
Some attorneys are very helpful while others are secretive about the information, it just varies person to person.
Can Someone Profit from Mortgages Without Knowing Much About Them
With this program, one only needs to know basic math, or how to use a calculator, in order to purchase, collect, and profit from a defaulted mortgage. Our examples within the program will show the most in-depth one will ever go with this strategy ...
How Can One Avoid Angry Debtors Coming After Them
While it is highly unusual for a debtor to go after someone who is using techniques approved by the local courts and Sherriff, this fear is understandable. The best option is to establish a Bulletproof Trust and have its address be a P.O. Box at a ...
How Should Employees Be Paid and Reported for Taxes
All people should be hired as independent contractors, not employees, and can be paid in any way desired (e.g. check, direct deposit, cash, etc.). The reporting of their income should go to the IRS as a Form 1099, leaving the payment of taxes and ...
Why Are Homestead Exemptions Important To Research for Property Liens
Homestead exemptions only apply if I want to foreclose on the debtor's property, and the homeowner is current on their mortgage debt. While we can foreclose on the house to collect a judgment to force the pay off in a forced sale scenario, a home ...
If The Creditor and/or Debtor Has an Attorney - Should These Be Skipped
No, it merely means that one must contact the attorney(s) for each party to forward your contact information. Once the creditor and/or debtor reach back out, then the deal can be initiated as usual (e.g. purchase or option from creditor; debt ...
What To Do When Finding c/o in Judgment Records
When looking at the address for a creditor or debtor in a judgment, it may show a ℅ (care of) after their name. The first name is most likely the attorney, the second name being the creditor or debtor. When this is seen, always attempt to find an ...