City of compton bankrupt6/24/2023 ![]() ![]() "There's intense competition from people doing exactly what I do right in this town." He used to get 20 percent cash on cash returns. "The biggest challenge to my business now is absolutely sourcing inventory," Coomans said. He's done this 30 times in Compton in the last three years through his company GGB Properties. However, after buying, Coomans says he poured in as much as $50,000 to fix up the place with a brand new kitchen and an extra bathroom. ![]() "It was under contract within a week, we had multiple offers," said Brian Coomans, who sold the home for $95,000 more than he paid for it four months earlier. The couple bought the house after prevailing in a bidding war. Especially with the yard, it was beautiful, and the neighborhood is really nice." They had some qualms about moving to Compton. Gaines is a longshoreman who said he used part of his 401k to come up with the down payment for an FHA loan. "It was going to be very expensive to rent," Hampton said, "so we figured, why not try to see about buying a house?" The $252,000 home they bought in Compton is their first. Who's buying the rehabbed homes? Couples like Raymond Gaines and Myesha Hampton. "This area and South Central have really been hot," she added. Rockower said prices are starting to "scrape up a little bit" as foreign investors have come in seeking better returns, paying cash for distressed homes. "They pretty much gutted the house for me, so they did me a favor." He added that burglars had stripped the house of sinks and wiring. "The condition of the house was more or less a disaster zone," Sung said. Sung bought it for $110,000 and thinks, with some work, he can sell it for twice that, based on neighborhood comps. We caught up with her helping a student, Jin Sung, rehab and flip his first Compton investment, a dilapidated home once valued at $420,000 according to Zillow. Rockower runs the Real Estate Investor's Club LA. Now anything in the low $100,000s is a good deal." "We were buying in the $80,000 range a few years ago. "Since I started, they're up 25 percent easy, EASY!" said veteran investor Phyllis Rockower. The median home price in Compton is now $176,000, a price that is inching up. Homes that were selling for $300,000 in the boom are now worth half that. This city south of Los Angeles is facing potential bankruptcy, in large part due to plummeting tax revenues. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower You can ask for information about the unfit conduct of an individual (who have current bankruptcy or debt relief restrictions) by contacting the official receiver dealing with the case.Best Debt Consolidation Loans for Bad Credit You may still be able to find information on the Individual Insolvency Register after 3 months but doesn’t include any penalties. ![]() They will have been given a penalty, called a Bankruptcy Restrictions Order ( BRO) or Undertaking ( BRU) or a Debt Relief Restrictions Order ( DRRO) or Undertaking ( DRRU). The list contains details of people who have broken the terms of their bankruptcy or Debt Relief Order. Search the list of people with additional insolvency restrictions for the last 3 months. ![]() Search for people with Bankruptcy or Debt Relief Restrictions Records are usually removed within 3 months of an insolvency case ending.Ĭontact the office that dealt with the insolvency to correct any mistakes. You can search the register by name or trading name (for sole traders).
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