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Updated about 2 years ago on . Most recent reply

User Stats

24
Posts
6
Votes
Brittany Edwards chu
Pro Member
  • Investor
  • New Jersey
6
Votes |
24
Posts

Looking for creative strategy for tax lien/bankruptcy situation

Brittany Edwards chu
Pro Member
  • Investor
  • New Jersey
Posted

Hi! I'm a fairly new investor (about a year in) and have been looking for deals off the mls, as the competition is still fierce in my market. There is a house on my street with elderly owners that came up on my foreclosure list...they have back taxes/a tax lien due to owing appx 30k in taxes. I initially avoided investing in the tax lien because I've read it's for more advanced investors. This was last spring, and now I see they filed for bankruptcy in the fall. My wheels are turning to figure out how to make this a win-win for both parties. I could offer to pay off the tax lien and they pay me back? Or I offer to buy the home, as this is a high tax neighborhood and I am not sure if they have any income? I am interested how other investors would approach the situation. Is there another strategy I should employ?

  • Brittany Edwards chu
  • Most Popular Reply

    User Stats

    24
    Posts
    6
    Votes
    Brittany Edwards chu
    Pro Member
    • Investor
    • New Jersey
    6
    Votes |
    24
    Posts
    Brittany Edwards chu
    Pro Member
    • Investor
    • New Jersey
    Replied

    @Mohammed Rahman thank you for the advice! I'm going to re-establish that rapport (they sent me a new baby card) and see if we can figure out something that works for us both.

  • Brittany Edwards chu
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