Breaking Down Commercial Foreclosures In Texas

Foreign this is the no Closer show where you get the latest developments in distressed note investing and learn the secrets of how you can control millions of dollars worth of property. For panties on the dollar. Get educated and entertained by someone who has closed thousands of deals and lives to support you in achieving the same. Now here's your host CEO of We Close Nodes. Scott Carson. Hey, real estate ministers. My name is Scott Carx. I'm known across the country as the note Guy. And as somebody who's been a real estate investor living in the Lone Star state for over 20 years now, I often get questions from people looking to invest in Texas, whether they live here in Texas or they live outside of the Lone Star State. Where do we find our distressed leads? Where do we find our foreclosure list? And the number one source is Roddy's List. This list has been around for 20 plus years. George Roddy over here, Smiling Face is a friend and his source for foreclosures on residential or commercial properties, the sheriff's list. The struck off list is second to none because it's just focused on Texas. And if you're looking for Texas deals, which is the fastest state to foreclose in, then you definitely want to check out Roddy's list. You can go to Foreclosure listing service is what it's known for. Flsonline.com if you use the code we close notes. That's right, we close notes. It'll get you $20 off your order. Whether you're ordering a foreclosure list in Dallas county or Harris county or Travis county or Bexar county, whatever county you're looking in, or whatever source list you're trying to buy from them. That'll get you $20 off of the price. Can't beat that. It's a great resource. We use it all the time to find distressed notes, banks with bad debt, private investors who are foreclosing, private individuals who are foreclosing on assets and also potential REOs for us to purchase or our students to buy. So make sure you check it out@flsonline.com that's flsonline.com or foreclosure.info as well. But make sure you tell them at ScottCentra use a discount code. Once again, we close notes to get your $20 off and good evening. Hey, welcome to this episode of the Note Close Show. As always, Scott Carson, Excited to be here with you today. Today is the first Monday of March. The year is 16 of the way over. Where are you at in your goals for the year. When it comes to buying or raising capital or whatever your focus is, where are you at? Hopefully you're closer than you were on January 1st, which is important. But today's episode, we're going to do a deep dive into the most recent foreclosure list here in Texas. That's right, the commercial foreclosures in Texas is. You know, Texas is one of the fastest foreclosure states in the country because we're very lender friendly and foreclosed in 21 days. You don't need a license to foreclose. You don't need a license to buy commercial debt. It's good to have a servicer help you out with that, but you don't need to have one here. And the great thing about it is this list changes a lot. That's good and bad, but there's a lot of opportunity if you know where to look. So that's what we're going to dive into today in this episode of the Note Closure. Just kind of going through the most recent foreclosure list in Central Texas here, walking you through where the opportunities are, where do we see possibilities, how to filter the list, how to read the foreclosure list that gets put out every month here by the Roddy or the foreclosure listing service that we're big fans of and their sponsors here of the podcast as well. And as you guys know, we don't share anything or promote anything here that we don't use. And we've been a big fan of the Roddy list, the foreclosure listing service, for years. Get signed up. If you go there and get signed up for the residential or the commercial foreclosure list and use the code, we close notes that will knock 20 bucks off of whatever list you purchase, whether it's the residential in one county or commercial list, you know, one of the five commercials across the state. But anyway, let's dive in so you guys can start making some things happen in your back. Now. If you're not in Texas, yes, you can buy the list. Yes, it makes sense to buy if you're looking at commercial real estate. And we'll dive in a bit more of that. Why it makes sense now. If you don't want to buy in Texas, you want to for more stuff in your backyard, that's fine. Go out and find who handles foreclosures in your area. You can always go to foreclosures.com they're also fans of the show. Or reach out to me. We'll be glad to send you a discount code for that as well if you're outside of the Lone Star State. But anyway, let's dive into this now. There's obviously the Roddy list is what we do. We love you. Search Roddy's Foreclosure listing service or FLSOnline.com pretty easy to dive in. They've got some video to walk you through whatever you do. The difference between the residential and the commercial list though with Roddy is a little bit more expensive. You're going to pay roughly about 45 to $85 per month for a residential list in one specific county like Harris county is be like 85 bucks a month. Harris is where Houston is at. It's also going to have a lot more so because it is the biggest county, but it's a great place. Like we talked about last week on the show and breaking down the Harris most recent Harris foreclosure list. It's, it's a lot of opportunity. Now if you're going commercial, you're not going to buy in one county. You're going to buy it over the five regions of Texas. And by the five regions of Texas, you have Central Texas, which kind of encapsulates Texas. San Antonio, you have South Texas, which is really below San Antonio, you have East Texas, which is, you know, outside of I would say Columbus on Ice. Anyone towards, all the way towards Houston in that neck of the woods. Tyler, stuff like that. North Texas is Dallas, Fort Worth area. West Texas is going to be west of basically, you know, Austin, San Angelo, out into like El Paso, that neck of the woods. So you can pick up a list. It's going to cost you about 300 bucks a month and you're going to have to sign up for six month minimum. So it's a bit of investment, 1800 bucks. But listen, ladies and gentlemen, it's been one of the best investments that we have done the last six months in finding potential deals, raising capital and also talking with other people. Tom. And find opportunities that we can promote as far as and uncovering non performing notes on residential commercial stuff. If you're looking to do that. Okay, so give you a bit of a breakdown where we stand at for the state of Texas here right now. Right now as of Today, there are 536 total foreclosures across the Lone Star State in commercial. Okay, now that's just a day. Tomorrow is the big first Tuesday of the month. It's, you know, foreclosure Tuesday here in Texas. Of March. What is March? March 4. Across the entire state, though, if you look at everything residential and commercial, there's 4,148 foreclosures set to hit the auction blocks. That's a lot. Okay, now if you just look at the commercial side, 536, that breaks down into these numbers a little bit for you. Okay, now, Central Texas here, basically Austin, San Antonio is about 121. East Texas, like I said, Harris is 109. North Texas, 127. South Texas is actually got quite a bit more than they have had in a while. 159. Central Texas about the same. East Texas is a little low. North Texas is about the same. South Texas has more foreclosures this month than they had in the last couple months. And then you have West Texas is only at 20. West Texas often has less than 30 on them. If we look at the last six months, I think 26 was the highest or 28th was the highest. This month is down a little bit. Now, some of these are obviously going to get kicked, kicked to the next month. Sometimes they'll, you know, people will file temporary restraining orders, they'll file bankruptcy, delay things, and it'll go to the next month, but that's okay. So just that gives you a bit of an idea and how that breaks down here in, in Central Texas. As you can see, this is kind of the map of what's available. The tape will break down. So you see it's halfway between here and Houston is kind of where it cuts off. I can't remember where that's at. We'll pull that up later. But then you see San Antonio, Austin upwards up to Waco. Colleen, you know, south of Waco, definitely. We've seen stuff in Waco and that stuff. But that's the map that we see now. We do see a lot of land. There's a lot of land on these. There's also multi family, other commercial spots and stuff like that. So anyway, let's take a look or deep dive into it and pull up the spreadsheet and let you guys really start to learn a little bit. All right, so let me share my screen here. Central Comm. Pre foreclosure. Okay, so this is. All right, so actually this is the list. When I pulled it was Jan was for the last month was February, so I didn't pull the one. Yes, but it's the same stuff that you'll see. Okay. Basically. So if you look at the list here, you can see it's a spreadsheet Excel spreadsheet. I always like to go up here and hit the filter or the freeze panes, look at things. Give me one second here. Let me do this. When you're. Of course, stretch it all out so you can see what's going. So you have the upload time when it was actually uploaded to the county. And that's what the writing list does. You know, they send out somebody every day to the counties to pull foreclosure listings. And as long as something gets filed 21 days prior to the first Tuesday of the month, then stuff can go to foreclosure for that. Okay, so you've got the report id, the estimated equity in the property, estimated margin of percent of equity, unpaid balance is important. It's always a good thing to have knowing that what that is, that's a dollar amount, the clerk number, the year of the report, month of report, city name, the county code. All right. You know, they don't. Some of these, they don't have the city names on them yet, or they didn't when I pulled the list, but that's okay. And you can see the classification. This is always important. So let's go ahead and filter this so you can start looking at things that you want to filter by. Okay, so we hit filter. All right, now you have. We go over here. You see the loan type. Most these are commercial. Some reverse mortgages. You know, sometimes you will see duplexes and triplexes or fourplexes in here. That is technically their residential loan, but maybe zone commercial property. So you get a little bit of that. Now obviously getting the city name, the address, the square footage, if it's got a pool, sometimes a zip code. The legal description, 1, the legal description to those are important to see what kind they are. Subdivision, the board, borrowers first name, the borrower's last name. And then the important thing up here, the lender, the mortgagee, who's lending money on this, we're gonna go and highlight this in a light green, all right. Then you have obviously the attorney of the trustee who's foreclosing, give you the sale date, the volume page, all that stuff. Good stuff. Loan, loan, month, the loan year, original loan amount, the monthly payments, they estimate interest rate. Loan expires, what month it expires, what year expires, year of the construction. That's kind of hit and miss across the board there. But a lot of this is land stuff here too, so don't worry about that number of units. And then if it was previously posted, which is important to think if it's been, you know, delayed a month or two, and then you get comments and then you get the actual owners mail and address, which is kind of nice. All right. And then the Zillow view, if it's available. Okay. So going back there, that's kind of the spreadsheet on stuff that we're looking at. So the thing to look at is we don't have any city names on these. It's not really worth diving into for the most part. Let's just go ahead and get rid of those so you're not wasting time going back and updating the list. It would be a good thing to do, obviously. Okay, so we've getting rid of this. So now we're looking at areas. You know, if you say, if you look at the map, you can see that's kind of all over the place now. Now let's go over to land type. That's what we're looking for. Classification, what type of deals are we looking for? Now it breaks down. Do you have commercial, commercial, general commercial, office, duplex land, multifamily, multi dash, family, rural residents, agricultural, vacant land and other vacant land. So if you're an investor, what are you looking for? Well, let's just say, let's just pull up the commercial stuff. You know, I've been using this locally to look at land. There's a great thing to look about. Okay, let me give you just an example. So we click on vacant land, land and land in general, hit. Okay. And it's all over the place there. So if you're looking for acreage, maybe you want your own, you know, your own little farm. You know, you start diving into this and start looking at. And a lot of times they'll tell you, you know, get a lot of these are lots as well. But also some of them are acreage. So if you start going over here, you can start seeing acreage side because it's in the legal description of it. So section five. This is a third of an acre. A third of an acre. 12, like if you're looking for land. 12.52 acres, that would be something to look at. So let's highlight that green. Okay. 1.14. A third of an acre. Third of an acre. One acre. Nine, ten. 173 acres. There you go. It's in, out in Hondo, Texas. Okay. 4, 10, you know, 47. 2 acres. 3 acres. 1 acres. 5.8 acres. Okay, lots, lots, lots, lots. 11.5 acres. Okay. It's in Red Rock. Lot, lot, lot. Yep. So There you go. That's kind of the, you know, acres so far. I mean, it's anything more than really one for the most part, to make sure I didn't miss anything. Yeah, and that's okay. I mean, you look at those. So here's two acres, three acres. Let's go ahead and take a look at that just for the heck of it. And you can kind of go over and see where that. This is in May, Texas. This is in Hondo, Texas. This is Cedar Creek. So let's look at this one. That's in Hondo because that's a pretty good size. 173.65 acres. County Road 366. Here it is. All right, how long. What was that? There we go. So share screen. All right, so here we go. I drop this in County Road 336. County Road. It's all over. So let's just click on here. So it's probably farmland. If you look at this County Road 366. And if I remember correctly, if we go back to the spread, if I go back to spreadsheet, they gave the Zillow map at the end, right? Yeah. So anyway, that's probably all farmland around here as 366 starts down here. Yeah, there's that. Okay, so if you wanted to buy that, let's go back to our spreadsheet. Give you a bit of an idea what's owed on the property. Okay. Now if we look at that one in. Okay, this is out basically San Antonio, Texas. Oh, no, that's not it. Yeah, that's it. Right. That's the owner. Street address 3. That's what it is. Okay. The owners live in San Antonio. Two CAD entries. Combined value assessed values for $1.6 million. You know, that's not so bad for a, a, a chunk of acreage, you know, that comes out to. What are they, 1.6. They borrow 2.95. Oh, they're a little upside down on that one then. Sis. Value is 1.6. Well, we all know it's a lit. It lands a little bit different. Larry Corbin is the guy who is the original seller of it or finance it to this company there. And let's see what they owe on it. Land out in Hondo. Estimate unpalent bay balance $580,000. So technically, there you go. They bought it and they think there's some equity there. You know, unpaid balance is 580. That's. But you could basically pick that up if you could buy that, pay that for 580. That's a pretty good deal when it comes to Larry Corbin. Hey, did you sell this? And that's the thing you would reach out to. Hey, Mr. Corbin. See that you're foreclosing. Interested in selling the note? I mean he probably wants to take the property back on that stuff. But if you could pick it up for 580. Okay, 580. And there's 173 acres. Even if it is farmland, man. 173. Let's say 580 divided by 173 acres. That's three grand an acre. That's really cheap. I mean that's worth buying it even. Let's. Let's look. If we go back to our map here, like Scott, where the hell is that at? Unless I want to buy something out in the middle of nowhere. Right, I can understand that. So let's take this out here. This is probably the one that is. Yeah. Okay, so it's east of San Antonio out here. Mostly farmland. Because you start seeing this. Yeah, see, it's mostly farmland. Okay, let's go back. Let's look at some of these commercial, other more traditional stuff that you're probably looking for. Silver land. Okay, so let's go over here and change it again to. Let's just do the commercial stuff. Let's select those. But we're going to unselect the land. Rural, agricultural. Vacant land. Vacant land. Okay, hit. Okay, so now we're sitting at. All right, so we got some stuff in Austin, Harker Heights, that's up by Colleen for Hood. Colleen. Round Rock. San Antonio Shirts, which is north of San Antonio, and Taylor, which is Williamson county, which is just north of here. Okay. Now why is it the central stuff? Because I'm here locally. If I can drive by, I'll drive by. Okay. And then so you just go over here and start looking. So you got a reverse mortgage. Commercial. Commercial. Let's see what else we can find and see what we're looking at. So you see this stuff here? 14 450. It's several property. Several plat lines. So I think this is a apartment complex. Let's take a look here. 11 450. This is 45. Usually a sign that these like is an apartment complex. So let's go over here. Oh, nope, it's a. It looks like it's a. It's on loop net. Actually popped up and lose loop net. So it's a building. Okay, there you go. 11450 Old Corpus Christi Highway. All right, come on. Do you want Us look at this stuff. All right, there you go. Let's go back here. So we know that is click maps San Antonio. Here it's this big. It's nas nascars.com they call it 114 50. I got a little guy here. So it's these, it's three separate buildings. What does nascars.com do you is a car repair basis car repair place. Okay. Do you want to buy a car building for car repairs? Probably not, unless you're looking for some storage stuff. Okay, so let's click on this one more time. 11 450. Make sure you guys can see this. Yeah, it's an auto repair is basically what it is. All right, lot size, an acre. All right, so we go back to our spreadsheet. One, it's one, two, three, four buildings. Okay, four buildings. Let's look at the amounts of these. Let's just highlight these four. So what's owed on these things? Estimated equity. Okay. Estimate unpaid balance. Here you go, boom, boom, boom. So if you add those together, that's basically estimate unpaid balance. They owe 821,000 on that. Okay, 821. We got a bit of equity. Let's see what they figure as values on these. So loan you can see Lone Star national bank is the ones foreclosing on these on these four entities, these four buildings. Okay, so you want to call Lone Star National Bank. Hey, are you interested in potentially selling the note on these? Now these took these things out in 2014. So I guess they're about 10 year loans. One year, yeah. Original loan amount they took out how much they take out to do 1.1. So they paid it down a little bit. All right. But there you go, that's an opportunity there. Lone Star national bank is foreclosing. It might be worth to see what else they have available on their books. Okay. Now the same. You know I always like, I don't want like on the residential stuff. I don't chase the properties. I look at the land. It's the same thing. Now if you're chasing property type here, that's what we just do. You look at what's going on. Commercial buildings, is it multi family? What's the unit numbers and go from there. All right, so let's go back over here. So always find like this one, this one 8603 State Highway 151. When you start seeing that they lift like bed bath garages in here, they're never always going to be right with bad brunch. But there's often like when you see a number like this 211 that might be worth looking at. 680, 603 State Highway. You're looking to buy stuff in, you know, Central Texas here. Sin. This looks like it's a strip mall. There we go. 8603 Texas 151. It's also listed on LoopNet. So this retail center is. Yeah, that's what it is. It's a retail 30,000 square foot retail center. Once the word built in 2008, multiple tenants. No surprise you start seeing commercial properties going foreclosure, especially retail stuff like this. So let's go back to our spreadsheet. So that lender, who's that lender? So West Point Retail center is the borrower and it's Wilmington Trust na. Okay, so Wilmington Trust na, North America with reaching out to you might be better reach out to. To the attorney Gabriel Sunnis. Say, hey, are you interested in potentially. Do you know if your seller is potentially willing to sell? Okay, now the difference between now buying a commercial note versus a residential note. Okay, usually two different departments in the banks. Most of the banks would be willing to sell one off commercial notes. Okay, notice on here we. I didn't go through here. And to get rid of like bank of America, Wells Fargo Chase. Cause you don't see a lot of those on here right now. You see like this is probably a private mortgage Asset Management llc. Llc Foundation, CREF Funding, Stallion Texas Real. That's a hard money lender. Broadway National Bank, Carrington Mortgage Services, Liberted Bank, SCFJ, LP, K&R, HAL Corporation, Sonora Bank, Wallace Bank. Sonora Bank, Wallace Bank. So Sonora Bank's got some stuff on here, right? Let's just see what Sonora bank has. Because you can call and say I'm calling about, see what else you have, what you're looking to get rid of. All right, so as we look on this where. What type of centers is this legal description? Let's look at this one. All right, so this is like 17,000 square foot in this one. So let's look at 2821 Guadalupe Street San Antonio, Texas. This is looks like another retail center. What is it? The Texas Department of Criminal Justice? That can't be right. There's got to be a building over here. Oh, it's 2821. That's probably. Let's go back and. All right, so 2821 is what we're looking for. Is that right? Let me jump back here and check real fast. 2821 Guadalupe Street? Yeah. Okay. So it's a. The building. So Texas State of Texas Pardons and Paroles Division is in this place. Okay, so it's. Whoever owns the building is getting foreclosed on. Does it mean that the. That's just a. That's just a tenant. The Texas Department of Criminal Justice. That's the parole division. All right, so let's go over here. So whoever owns this building isn't paying. You would think that would be a pretty steady tenant. Right? Okay. District parole office. Yeah. So basically whoever is getting paid. Let's look at this. Here we go. That's a better 28, 21. Yeah. So there you go. Now you will see these old listings on Loop Network. People were once trying to sell them. You know what I mean? It's a previous listing. Let's keep going down here. 28, 21. Office building. How many units? Lot 33. Say number of units is on an acre. No, but you know what? You could probably find a pretty steady tenant in taking that over, depending on what they owe. So let's go back to the spreadsheet. All right, so 2821 Guadalupe. Don't see that every day, but hey. Our estimate on balance is 2.5 million. They owe their negative equity of 6, 620. What? Finance. 3.1. Original amount was 2.6. I'll tell you. All right, so that's that one. Okay. Original amount 2.6. They think it's only worth 1.9. Give us that number. It may not give us the number 2.5. So. Okay. All right, let's go look at a different one. Here's a little smaller amount. Same bank. Let's do it. 115 Davis Court. This is probably Duplex. 115 Davis Court, San Antonio, Texas, 22. Oh, it's a commercial building. Oh, it's a little cafe. Is that right? Looks like it's a little cafe there with the tables outside. Open foreign. Let's go back and see what pops up. 118 Davis Course. Commonwealth. Commonwealth Coffee House and Bakery. That's what it is. That's who the tenant is. What does Zillow tell us? Yeah, so that's not. It's just a commercial Pre foreclosure auction. Used to be a house. Okay, so that's what it is. It's a. If a coffee house and bakery. Let's go back to our spreadsheet here. Is somebody renting it out to the coffee house. See the borrower's name shows up on this. Yep. Commonwealth Coffee. So they're losing this One. And they got another one. Commonwealth Coffee llc. Where's this one located at? This one's at a different one. 930 East Grayson street okay. This is a small little house. 930 is Grayson right there. Huh. That must be like the. Is that, is that commercial offices or what is that? Hard to tell. Let's go over here because it may be. Huh. They're all kind of cookie cutters, isn't it? That's a nice house. Thanks to this park here. Okay. 9:30, that's the property. So let's do. Let's do something. Let's go over here. So it was Commonwealth Coffee. Right back to our spreadsheet here. And I'm going to just do a Google search for the business. I'm well copy llc, Antonio. So they've got quite a few locations. One, this the ones going foreclosure. Two, three more places. One, two, three, four. So they got four places across San Antonio. Let's go to their website. Oh, that's not a good sign when their website's not up and running. So they're probably closed. Oh no, this one says it's open. Let's go to their website. Or just go to Instagram. There you go. See if it's just different. No, see, their website's not working. Maybe. Let's see when this was taken. February 19th. So yeah, not bad looking. Oh, that's the one that we, that we looked at there. Okay. Well, so the pro. The thing of it is is to find out a. Let's reach out to the lender. What do you want for these? Would you be willing to sell them at a discount? You know, they're upside down. Would they be willing to sell these two? Because then it'd be very interested potentially. Then you'd want to, you know, hey, what's going on? The leases. That's a lot of coffee to pay for. What is that? One point, almost 1.7, $1.8 million in the real estate side of things. Okay. Can they afford it? Can they not? But that's potentially about a commercial spot that you could a have two coffee spots, two houses from there and who knows, right? If you like coffee. So let's go look at the rest of the banks here and see what else is available. Okay, so that's an orbank. Let's look at Wallace bank and let's just go. Let's see what we see about, you know, Commonwealth Coffee. This is an. This is a person. Okay, Here you go. Bennett Rose Investment in Properties. And they're Getting foreclosed on by SCF Jake lp. So this could potentially. Let's take a look at this one. 127 Hayes Avenue, San Anton, Texas. All right, so here's a property. It's a 1260ft house. Look at that. Okay, 126 is that one. So 127 is this one. Yeah, 127. So that's the property is getting foreclosed on. I don't know if it's occupant or it's an office or this investment. If it's a rental property, sometimes you'll see that happen in the commercial listings. So let's go back to that one. Go back to share to spreadsheet. All right, so let's highlight this one in yellow. Now this is SCF Jake lp. Try to check that person, Bennett Rose Investment in property. So they finance this. Let's see what do they owe? So they say it's a multi family. So maybe it's a duplex or Triplex, who knows? 2,000 square feet. That's anal. Balance is 260. They expect they have some equity in the deal, about 10%. So. So I took this out in 2022. So October 2022 for 265. And they're renting it out. It's been on. See here's the thing. It's been on here before. Previous listing. Yes. So they've delayed the foreclosure on this for either trying to sell it or you know, they're just delaying it waiting for the borrower to sell off because they don't necessarily want to own the property back. So they say it's worth about 290. Original one was 265 basically in October to two years ago. We have a term on here. Loan term, loan expire. Didn't give this one the loan expire. So maybe it was a one year, maybe it was a two year. So that would be something to look after. You're wanting to, you know, buy note on a property that you it has renters in. It might be something to look at. Okay, looked at, look at this one. Wallace Bank. Wallace bank is on here twice. So let's just see what those two properties are with Wallace Bank. All right, so it's the same borrower, Lionel Reyes Jr. Okay, 256. 256 was. So he must have bought assessed value. So it's about. Yeah, two entries, two cat entries, combined value. So these are 515 Camden Street. It's different loans two loans. O 143, 144. On both is the estimate unpaid balance. Took these out in. Did he borrow this money? 2006. Okay. All right, so let's see what this type of properties this is. In the past we've seen more like multi families in San Antonio. Okay, so there you go. This is. This. This is a doctor's office. Yeah. Oh, it's a medical clinic. Okay, think 520. So it's this lot and the medical. Let's make sure and look at this. Can you pull up an address on here? Let's go around over here is a class 3. Failing to tag private property. Deadly force can be used to stop a class. Okay, so they've been tagged a few times. It say there? That's it right there. I think it's what it says. 5:15 Camden. B Industry. Yeah. So it's this lot. Okay, so it's medical office. Same thing with that. Would it make sense to buy it and keep the existing tenant in place if they're still there. This was March of 2022, so it's probably so River City Medical Clinic. Let's do that. River City Medical Clinic, San Antonio, Texas. That Lionel revers empty. So the actual owner of the property is the borrower on this. So would you do a lease back? You could. I don't know if I necessarily would. Especially since he's not able to pay his mortgage payments. The rent on these would probably be higher than the mortgage payment. But he might be able to. Maybe there's a balloon on this. There you go. That's the borrower, based on what we saw on the spreadsheet. All right, so we go back here to the spreadsheet. I mean, that's the thing to look at is every one of these has a different tail to tell now, doctor, hopefully he has some. You know, he's got some money sitting on the sidelines. And you see the L. The same thing here. If you got private lenders on here. Let's see if we can't see Roy Dawkins. Here we go. What's Roy Dawkins foreclosing on Alicia, Joyce Null. They're foreclosing on. What is Shady Meadows LLC. This is on something's about 20 acres. 760 FM 78 Shirts, Texas. So it's on. It's a property on 20 acres. 760 FM 78 shirts, Texas. Okay. Oh, here you go. Yeah, I looked at this. Okay, so this isn't. It's a mobile. It's a mobile Home park. There you go. Outside of shirts, I looked at this one. Yeah, it's kind of, kind of rough. The great thing is it's, you can go through and look at it. So they've actually got it mapped down here so you can do a virtual X, you know, and it looks like there's got plenty of room for more mobile homes. This is from November of last year. So it's on 20 acres. There you go. And let's look, look at the customer. So you got how we can count how many units. So 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16. 1612 is 28. 1, 2, 3, 4th, 5, 6, 7, eight, nine, 10, 11, 12, thirteen, fourteen, fifteen, sixteen. So basically 28, 16 is 44. So it's a 44 basically unit or home park. I think that's what it is. It's on 20 acres. So we go back here and do the aerial again. There you go. So it does include some of these single family homes in here adjacent to you, Wall mounting hardware. Is that the house? Yeah, I think that's the house right there. Yeah. So you got a couple single family homes on this thing as our modulars along with all these mobile homes. Now let's go back to our spreadsheet here and see if Roy. All right, so this one has some definite potential. All right, so how much is owed? So they basically owe 1.2 million on it. They say it's negative Equity estimate on PALS 1.2. Don't know the cash flow value on this stuff. Let's keep going over here. They took that to loan in 2023 for 1.3 million. Monthly payments is seven grand a month. So they took it out and stopped paying. So the loan. Yes, it was Basically, it's a 30 year mortgage at 6.53 and they're not making payments. Wow. It was not previously listed. So that'd be interesting to see. So that would be, that would be a hot button to reach out to. You know what I'm talking about. Yeah. And yeah, the owner lives in the property. Right. I think that's it. 2721 FM78SE. Oh, no, he does not. He lives in Seguin, Texas. So if the guy was willing to carry financing, he'd probably be willing to carry financing again on this. And this is where the owner lives. It's a game. But if we go back here, let's see here, let's go back. Let's go back to our map. Let's go back to the property, we just look at this aerial view. I don't know how old it is, but there is basically 20 acres. So you've got a pretty good chunk of change. So what's back here? Boat storage and stuff like that. Okay, but if we look at number of units, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 6, 27, 28, 29, 30, 31, 32, 32. And I don't know if this tire spot is included in that or not. Maybe it's not. Maybe it's just this part of Shady Creek. A1 Auto Sales. It's a used car dealership, but I guess they got rental trucks there. Let's look. Let's take a look. One more. Maybe if that's included, that would also be a nice bonus, but I'd be one. That's probably. That's a. Probably a separate business. It's out, it's a front here, and everything else is behind. Okay, but that's. That would be something to look at. I mean, maybe you don't own this, but you have the 20 acres behind it. Maybe they're leasing this, who knows? But that one is definitely worth looking for because if they owner financed it, that's not a bank, then they'd be willing to own our finances again to potentially the right buyer. Right. There you go. That's a potential deal for you. On a mobile home park outside of San Antonio, you see a variety of different things. It's not the first mobile home park. It's not the first. And we see a lot of variety of buildings, office buildings, strip malls, apartments. Surprisingly, this month there's not really any apartments listed on this. That's okay. It is what it is. Any questions, any comments? Concerns? The great thing, guys, these commercial notes, the banks are often willing to care financing on a chunk of these. You don't need to have the full amount down if they're willing to sell the note to you. Oftentimes, if you bring 10, 20% of what the note purchase price is, they may own or finance it back to you at a quick foreclosure price. I've seen it happen on land. I've seen it happen on all sorts of commercial stuff. So it makes it a little bit different. You just got to step in though, and expect to, you know, have some operations and management experience or have a team on to help you out with that. All right, so hopefully this is valuable for a commercial value. Commercial Properties. Hey, you can see the notes. You see all sorts of different types of deals on these. Less, less people sign up for it at 300amonth than the residential. So it gives you a little bit of a smaller, you know there's not as many people targeting, targeting these because there's not as people buying the list. So it gives you the opportunity to really dive in. If you like Texas, great. You can buy this list from outside of Texas and in and work to find deals on your make phone calls and go from there. So any other questions, comments, concerns before we let you go for the day? Hey Cord, good to see you buddy. Dale Todd. Hopefully that was valuable for you. So check it out. Foreclosure listing service Just Google Roddy list. Use a code we close notes to get 20 bucks off whether it's a residential list or your commercial list. Go out, take some action. Ready? And we'll see the top by hey real estate investors. This is Scott Carson. I'm known across the country as the note guy and I've been an active note investor focused primarily on the niche of non performing notes, distressed mortgage notes on residential commercial properties for almost 20 years down. My company is we close notes.com and I know there's a lot of different things when it comes to the note world. Are you buying performing notes? Are you buying owner finance notes? Are you buying institutional debt like I would focus on Are you buying first seconds contract for each. There's a lot of questions and it can be very confusing about what you can or cannot do. So one of the great things that we've hosted for the last couple of years that we do on just about a regular monthly basis is we host our one day class called Note Weekend. If you go to noteweekin.com you can register for a free three and a half hour class. 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Whether you're experienced investor or you're brand new investing. Note weekend is a great place for you to get the ball rolling. People often say we cover more in our three hour class than most people cover in their three day class. So check it out. Love to have you be part of our note family but get signed up today@noteweekend.com thanks and have a great day. Sam.