Posted by IB (NJ) on February 24, 2003 at 13:36:54:
Thanks Heather. This is useful information. I know realize that I have to contact the owner and find out if this is the type of lien she has against the house. If this is the case, should I commit time and money to this only to have her skip out before showing up to serve her time? Something to think about…
Drug Conviction=Opportunity? - Posted by IB (NJ)
Posted by IB (NJ) on February 24, 2003 at 11:13:43:
Met over the weekend with a seller who’s heading to jail in 2 months. Due to a federal drug conviction, she’s going to have to do 3 years (plea bargain). Apparently, hubby (who just started his 30 year bid resulting from the same drug bust that got her 3 years) was paying the mortgage on a very nice sfh with proceeds from his very successful distribution company. She’s no longer able to pay the mortgage as the lender has started foreclosure proceedings. In our conversation, she stated that there is a federal lien against the house until she reports to the court to start her sentence. She stated that the lien is removed once she shows up to go to jail. Does anyone know how these work? She starts her sentence on 4/17/03 so I guess if I was to get the house and sell it, my buyer wouldn’t be able to run title until AFTER the lien was removed. I’m already concerned about the marketability of the house being that it was once occupied by a drug lord (yes he was one of the heads of the operation). But does anyone with EXPERIENCE in these matters know what else I would have to worry about?
Speaking of jail sentences. In a separate opportunity, there’s a fire damaged and abandoned property heading to foreclosure. After doing extensive research (talking to the owner’s in-laws in NJ and NC) I find that the owner is on drugs and on the street somewhere. I’m looking for him and even enlisted one of the former in-laws to help (offered him a cash reward if he can get the owner to call me and I end up buying the property). But it occured to me that the owner may be locked up in jail. Does anyone know how I can find out if the owner is in the care of local or state authorities?
Yeah I know…“WOW Ib, what have you gotten YOURSELF into?”…What can I tell you…that’s the market I work in.
Re: Drug Conviction=Opportunity? - Posted by js-Indianapolis
Posted by js-Indianapolis on February 25, 2003 at 18:30:27:
Just call the county jail, and ask if they have a prisoner by the name of…
I actually just did this last week. Was surprised to find a “prisoner information” listing in my phone book, under county jails. They were glad to tell me about anyone. Is there nothing that is NOT public info?
Perhaps there’s some opportunity here, right in front of my face. I’m not sure if this is the same in other places, but the sheriff’s sales here are right in the jail lobby. It’s a mix match of investors and waiting prisoners, or prisoners’ friends, waiting for whoever to get out. Perhaps instead of talking with the other investors, I should be talking to those checking in and out, to find deals on the “inside”. I’m sure a $500 bird dog fee would be mighty attractive to someone going into jail for a little stay. Hmmm…
Why have I missed this?
Re: Drug Conviction=Opportunity? - Posted by Heather - OH
Posted by Heather - OH on February 24, 2003 at 12:34:10:
In a post from TODAY a little further down, someone explains better what bond liens are:
Re: Inmates Possibly On-Line - Posted by Tim Fierro (Tacoma, WA)
Posted by Tim Fierro (Tacoma, WA) on February 25, 2003 at 23:44:17:
I was on the web one night and saw a link that had a list of jails or something on-line. I checked it out and actually found a relative listed in the city jail as well as seeing the charges. It even showed time in jail for (sentence?) and whether or not they were even allowed visitors.
With this new fangled Internet, you just never know what may be on-line and publicly available.