I'm a homeowner now?

Question

I'm a homeowner now?

Was homeless a couple months ago

Looked around for a squat

Stumbled onto a home with some signs up front

Some letters from the bank about being vacant

On the front door laid a sign stating the house was to be sold at sheriff's sale

I decided to do research into how the whole process works, looked into liens on the house, looked into the taxes, etc

There were no liens but there was a small unpaid mortgage that got wiped out by the sheriff's sale + a small amount of back taxes

Shortly after this, I decided to investigate the home

I purchased an inspector's keypacket a while back so I can just walk into 99% of bank-owned homes

Besides there was no one living there, boarded up by the bank

Inside was dusty and winterized but otherwise perfect

I gathered a couple grand and went to the auction

My state is a non-recourse state so the bank basically had no incentive to bid

They didn't even show up

Starting bid was $2500

I bid $4000 pretty much immediately

This must've spooked everyone else at the auction because I won.

I had to give the sheriff 10% that day and pay everything else within 2 weeks

Plus some other rigamarole

Now I own a house debt-free for $1500. What the fuck do I do from here?

Clarification: $1500 was the taxes paid so the total comes to $5500.

Post pics.
What about past due property tax?

Start putting what you would save in rent into investments

Once you have a decent stack use these and your house to get a loan for another house

Rent it out, put all money into the mortgage

After a while repeat

Become a slum lord

??????

Profit

pretty based. Is it in bumfuck nowhere or the shitty part of town or something?

Odds are you can hook up with a rental agency and get some ez passive income

I was a homeless squatter but scrounged up a few grand on a whim

OP is fake and gay

$1500 was the back taxes. I was expecting it to be a lot bigger but it wasn't - which is odd. Why? Because I still don't know what the fuck happened. The monthly payment would've been a couple hundred, tops, the people who owned the place didn't die and have other properties. They could've paid everything off within a year if they wanted. They could've rented it out. It's as if they forgot the home existed?

Bumfuck nowhere

It's in a nice town, a suburb about 30 miles out from a large city, in a decent area to boot. I can't give you a reason why it was abandoned.

Odds are you can hook up with a rental agency and get some ez passive income

Live in a home or rent it out for $1000/month in passive income and leverage the house to buy another
Just because one is homeless doesn't mean they don't have money.

1. Check';d
2. I'd like to not be a POS landlord, I've had to deal with them before.
3. Based advice otherwise, thanks

congrat on ur new homestead apu bro. grow some flowers at the front. maybe find a lass and start a family.

Live in a home or rent it out for $1000/month in passive income and leverage the house to buy another

por que no los dos? Get a roomie to cover most the costs, then at least you aren't paying rent somewhere else

Skeptical. Again, post pics. Nobody’s gonna come fucking murder you.

no one bid on a house for 2500

congrats on your move to africa

I once doxxed someone from a picture of their ear. Fuck you, no. Your belief isn't required for me to bask in the glory of having a home
Thankfully the area is >90% white. I lucked out super hard.

Ok then Ranjesh.

start renovating the house so you can put it on the market for way, way more.

Of course its just attention seeking this guy does it on Anon Babble all the time as well.

I'm happy to rent it, I'm happy to live in it, but rennovations are so fucking stressful. I need time to decompress from being homeless.
It says more about you that you can't imagine someone having $5500 than it does about me.

90% white

2500

congrats on your move to white trashville

Takes 10 years of squatting in the best states to take a home, can't just pay backtaxes but it's a nice story ranjesh, suck a shotgun.

He can't read.

I didn't use adverse posession, I bought it legally. Read the OP until you understand it and then read it again.

FWIW in my state it's much longer than 10 years.

but m-muh auction

Every auction there's 10 banks ready to purchase every home, been this way since before you were born.

he didn't understand the OP

he gets btfo and comes back with an even bigger cope

Banks are usually only interested in their properties and not taking a loss, especially in recourse states. You'd know this if you didn't just try to google the information in the past 5 minutes.

You know why the house is abandoned. You may ignore the feeling for a while but one night when the feeling is in your bum you'll come to the truth though it'll be too late

Just because one is homeless doesn't mean they don't have money

That was just the easiest way to call you out. The fact you know what a non-recourse mortgage is another reason I know you are LARPing about being homeless.

Why do you spend all day making up stupid bullshit and arguing tooth and nail about how your stupid horse shit is actually real, you've done this dumb stupid horse shit for years, you have a psychological malfunction stop using Anon Babble as your shitting stool ranjesh.

When the feeling is in your bum

Look anon I'm not gay but I appreciate the offer.
Technically I'm not homeless anymore :^)

You can't be homeless and know things

You can have a doctorate and be homeless.
That's literally what you're doing. Cope and seethe all day, anon. You know at the end of the day I have a home and you have

*checks notes*

Seething posts on Anon Babble. Have a good one, and I really do mean that.

Both boards now for years you reply the exact same fucking way on every thread it's either a bot or a schizophrenic.
Mods...

I think you're the schizophrenic one, anon. Unless you're seeing into the future, this is the first time I'm posting about my house.

based. what are your first items of business to make it into a comfy NEET abode?

This pathetic fuck uses vpns to bump his threads for fuck sake you know this boards dead right, cause of faggots like you.

100% larp thread, this would never happen. Banks are able to do what's called a "credit bid" where they automatically bid the amount outstanding on the foreclosed mortgage, and if you want to buy the house you have to bid more than that. That way you don't have situations like OP's larp where a bank forecloses then only gets paid a few thousand dollars from the auction, and loses title.

If you're interested in buying foreclosed properties here's a good video from a person who actually does it, which explains the process well.
youtube.com/watch?v=mq1azEELld0

Gotta get my shit out of storage and setup my NEETstation. I miss my PC like you wouldn't believe.
Being a man in my 20s, I guess I've got to do the obligatory:

Mattress on the floor

Get a comfy couch and TV

Although I just realized I have to buy a fridge. I've never been in that situation before. Huh. Makes me kinda proud.
In a recourse state, you'd be correct. In non-recourse states, banks can't chase borrowers for unpaid debt after foreclosure; making them more cautious with bids, but they're still not giving houses away for nothing - usually. They might not always bid the full loan amount if the house value's dropped, but they'll try to get what they can. In bad markets, they might take a loss to avoid being stuck with the property. Strategic defaults are more common here, and many might walk away from underwater mortgages without consequences.

Bottom line: Banks are still using credit bids, just more carefully. They're playing a different game, not getting suckered.

Educate yourself. No, google is not an education.

Yup they have a fund and employee that goes to every auction to secure the sales, why there isn't slumlords taking 100k and buying 10 houses, only areas that happened was crime ridden shitholes like detroit under the contract you had to get the house to fully restored within a short time period or owe the full amount of the houses value.
It's just an attention seeking fucking faggot who can't get enough cum pumped up his ass daily so he has to come here and demand other people's attention while he strokes his tiny hrt riddled cock.

why there isn't slumlords taking 100k and buying 10 houses,

Because oftentimes there's way more than 1 lien against the house. You can place yourself underwater - and in deep trouble with the IRS - if you don't play your cards right. Both of you twats would screw yourself hard at an auction - don't quit your day job.

I'll be honest though, I think the dude just got sick or something the day of and couldn't make it or the market in this area is significantly worse than would appear.

What's your obsession with my asshole btw?

I don't read Sanskrit faggot.

100% larp thread

we know

we are bored

we got off our shitty jobs, have no friends, no gf, no wife, no kids, and just want entertainment

BTC is the same price as it was 3.5 years ago

alts aren't anywhere close to their ATH

the fed announced that they're only cutting rates enough to not pump anything again

we just want some entertainment

Have fun getting raped in "your" new home buddy. Don't say no one warned you.

If you don't know who the town rapist is, does that make it you?

if you want me to believe you're not larping show some evidence

He just wants attention, give him negative attention it bothers the narcissistic schizo faggot, he wants bants not being called out.

Your belief is not required.
Thanks for the bump anon

I accept your admission that you're a pathetic larper.

If you need to announce that you've won, your crusade has clearly failed. Thanks for the bump mi fren

people who announce they've won are pathetic

he says in a post to announce that he's won

your crusade has clearly failed, by making that post instead of providing any evidence of your claim you're just making it more clear that you're full of shit

I thanked you for the bump/ And I'm thanking you again. I'm gonna go enjoy my house now, I suggest you do the same in yours. God bless!

I saged

Then thanks for the attention. A smart person would've walked away. Then again, I guess the smart person here bought a house. At this point it's free entertainment.

Picrel: me at the top of biz on 4stats

you did not buy a house, stop fantasizing.

Seethe, cope, mald. You will never be a homeowner with that attitude. I seriously encourage you to look up your local laws, DO YOUR DUE DILIGENCE ON EVERY PROPERTY YOU LOOK AT, and give it a go. You could get lucky or you could seethe. It's up to you. I wish you the best, fren.

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