Mechanic Liens Investing - Posted by Ben

Real Estate Investing Real Estate Law
1

Posted by Ben on September 03, 2003 at 10:32:20:

Thanks for your feedback Ron.
I am in the state of Ohio.
Anyone with any success or horror stories?

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Mechanic Liens Investing - Posted by Ben

Posted by Ben on September 03, 2003 at 09:19:35:

Anyone out there having success investing in Mechanic Liens? I am interested in hearing more about the potential with this type of investing. Anyone have some success or horror stories to share?
Thanks in Advance
Ben

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Re: Mechanic Liens Investing - Posted by Doug,ky

Posted by Doug,ky on September 03, 2003 at 12:28:44:

Hi Ben

Coming in Oct in Columbus, OH, REIA is having a four day investors semiar. There will be some 20 different speakers there. I know they had one speaker who pitched the buying mech liens last year. It was rather expensive but if you wanted to check it out i would start there. I’m not going so i don’t really know who will be there.

Doug

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Differs by state, probably - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on September 03, 2003 at 09:58:52:

Ben-------------

As with so many things related to real estate investing, I’d bet that this is variable from state to state. Certainly the laws are different in each different state. And it would not surprise me if the opportunities varied a lot from locality to locatlity within the same state.

I doubt that there is much to be done here in CA. Here, the “mcchanics lien” is just a document recorded in the recorders records which makes some claim against the property. The person who filed the mechanics lien has to initiate a court case seeking a judgment within a very short time or the mechanics lien is moot. I believe it is within 45 days. If that court suit leads to a judgment, the judgement can be recorded in the recorder’s office and becomes a lien against the property.

That is where an investor could come in. One would become a judgment investor, approaching the holders of judgments, trying to buy them at a discount. I have read one book on this topic.

However, I don’t see trying to “invest in” mechanic’s liens in CA. How it works in your state I don’t know.
I don’t know what state you are in, as you didn’t mention it.

Good InvestingRon Starr*******