And that is the way it should be!!!

The Nevada Supreme Court upheld the HOA's right to foreclose on a property which voids any and all mortgage liens that affect the property.

If you are a lender, bank or investment company, and you don't keep an eye on your investment, then losing your interest in that property is the end result.

HOA Auction Story

A few years ago, I went to one of these HOA auctions to check it out.  I soon learned that I didn't have enough money to compete with 99% of the investors there.

But, I watched, listened and learned just what these investors already knew.

Acquiring a property (usually a SFR/condo home) at an HOA sanctioned auction was the best way to acquire one for under market value. (Please keep that between you and me!)

And, the winning bidder receives the property for cash free and clear.

When I was there, two investors continually tired to out bid one another for a home.  The property was eventually sold for $151,000.  I learned that the losing bidder just hadn't brought enough money to the auction.

Later, I looked the address up and discovered it was a Summerlin mansion that the owner couldn't afford the HOA payments on anymore.  The HOA foreclosed, did their necessary disclosure work, held the auction and the bank was out!

And, while there, I noticed that a lot of the homes being auctions off were already bank owned and the banks simply just didn't pay the monthly HOA fee.  Thus, the bank had foreclosed on a property, added it to their asset list and simple stop maintaining the HOA monthly fee.

Well, the HOA needs that Monthly assessment to maintain their communities. So, too bad, Mr. Bank.  I truly don't feel sorry for you for any bank or mortgage company that created and funded those horrible loans 10 to 12 years ago -- just to sell loans on the Secondary market.

And now the bank are considering bring them back, again?  Obviously, the lesson wasn't learned.

Sure, let's buy a home (we can't afford) on a 100% LTV stated income loan!  Stupid is what it is.

Now, hopefully, I will close a few more deals; and then, I will have a little more extra cash to try the HOA auction process again.

See you there!

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes

Could Vacant Malls be Renovated into Schools/Classrooms?

As I await for the continuation of the NFL Playoffs, I was cruising the usual Internet sites and came across an article about Department Store CEOs who are being replaced because of poor retail sales.
(Of course it is exciting to me!)

Anyway, with Amazon and e-bay taking rather large bites from this sector, and the fact that stores and malls are closing left and right, it got me thinking: (I know, not a good sign.) Since most communities still need schools, and most communities can NOT afford to build new schools, why aren't those school districts taking these already built and ready for (their) Tenant Improvement buildings and converting them to schools?

I'm sure that the banks would sell cheaply; or, they would lease to the school district cheaply in exchange for them taking care of the property while the bank tries to figure out what to do with the property next.

It has to be much, much cheaper to place a school into one of these buildings because the big box buildings could be divided into classrooms, auditorium, and gym; they already have the essential elements needed to supply children, teachers and administrators what they need.  Especially the smaller retail stores could be classrooms, etc.

Malls have built in Food Courts, Bathrooms, Hall Ways, Indoor Gathering Areas, Outdoor Gathering Areas, Ample Parking, and ease of access to and from the grounds.

The question I have: Why hasn't anyone else thought of this before?

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes

The Trumpetters are getting ready -- to be disappointed!

The true title of this post should be: Corruption waiting to happen.

Because it is (allegedly) going to happen.

Trump through all of his businesses (yes! He owns thousands of LLC's which hold various properties from around the world), will result in the end of Trump's reign as US President.

The reason I think this is because I don't think Trump is capable of resisting the urge to make money.  And, as the Emolument Clause says, the president can not make money from a foreign country.

http://www.huffingtonpost.com/entry/trump-emoluments-clause_us_58794852e4b09281d0eaf212

Now, if that doesn't happen, there is another item that I know Trump and his loonies haven't thought about.

Since he owns high rises throughout the world under various LLC's, what will the US Response be when a terrorist group attacks one of his towers?  What if they knock one or two down, killing hundreds if not thousands of people?  You know, like they did with airplanes back on 9/11/2001?

Putting Trump in office will be the biggest disaster in US history.  Instead of paying billions to prevent Russia from attacking Western Europe via NATO, I foresee hundreds of billions being spent being paid for damages, real and punitive as a settlement for Trump's arrogance.

And, even the odds makers are calling for Trump to be leaving office before four years.

http://www.independent.co.uk/news/world/americas/donald-trump-impeached-us-president-bookies-offer-even-odds-us-congress-inauguration-a7531536.html

Unfortunately, the non college educated (STUPID PEOPLE) voted the wrong candidate into office because they were conned into thinking that Trump was going to bring back their widget making/assembling job at $20 an hour. He's not!

Since 1979, +/-60% of jobs lost were lost to automation.  Those jobs didn't leave the US.  They are still here being done more efficiently and at less cost by a machine than a human.

Even the Electoral College -- which Alexander Hamilton originally designed to be a nonpartisan group of Educated people -- got it wrong.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes