Comments on: Resolution Trust Corporation - A Real Estate Investing Opportunity

By: Matt

Matt — Sun, 10 Jan 2010 13:16:03 +0000

Any news on something similar to the RTC?

By: Jeff Miller

Jeff Miller — Sat, 20 Sep 2008 14:52:35 +0000

@Chris & Bill: Yes, how you do it is very important.

Note: I said partner with someone who will live in the property. If that person is on title and living there, it is owner occupied for the current definition of owner occupied.

By: notmyrealname

notmyrealname — Sat, 20 Sep 2008 03:18:32 +0000

Caught? Fined? Oh please, my dog owns more property than I do.

Just kidding.
or am I…?

Keep up the good articles. Any thoughts on raising capital, certainly my technique of shorting financials isn’t going to work anymore…

By: Bill

Bill — Fri, 19 Sep 2008 23:58:53 +0000

Jeff, The fine for getting caught buying owner occupied property as an investor was $250,000……..not many tried that I’m sure…

By: Chris

Chris — Fri, 19 Sep 2008 20:48:58 +0000

Jeff, have to be very careful how this is done. It can be construed as fraud depending on how it is done.

By: Tommy T

Tommy T — Fri, 19 Sep 2008 18:41:17 +0000

Bryan, have you found any stats on the actual number of SFH REO’s at this time? Hard to guess, the way the media reports things, you’d think every other home in the country has been foreclosed.

It would be great to know total REO’s by city or state, so we would know where to find the best deals.

That said, as I recall, the window closed very quickly on the RTC deals for small investors, and they went to bulk sales that only the big dogs could afford. I’m guessing the big money sharks are drooling right now.

By: Jeff Miller

Jeff Miller — Fri, 19 Sep 2008 16:02:11 +0000

Remember that while you can only live in one house at a time, you can have partners that live in other houses.

Why not work out a deal with someone to buy and live in the house for X time and then split the sale profits? Unless they restrict sales to a single person on title, this should work.

By: Henry_CA

Henry_CA — Fri, 19 Sep 2008 15:11:59 +0000

I’d like to be keep inform as well. Thank you in advance.

By: Gino (NapoGino) Napolitano

Gino (NapoGino) Napolitano — Fri, 19 Sep 2008 14:36:07 +0000

I too experienced the same issue as Bill. I was not able to qualify the second round due to income property I purchased during the first round. However there should be plenty of deals to be had.
Please keep us informed.

By: Bill

Bill — Fri, 19 Sep 2008 13:09:35 +0000

I remember the RTC very well. Bought 1 property at auction the first round. Problem was, by the second round of auctions they were selling to owner occupied only in my area.
Another problem I ran into was the pre-qualification workshops they ran for the second round of auctions. The RTC rep would not qualify me to bid as I had rental property, and the requirement was you had to live in the property you bought for a year or two before selling. I forget the exact time specified.
If they open the biding up to investors this time, it will be a great opportunity.