Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

User Stats

62
Posts
0
Votes
Mike Chubb
  • River Grove, IL
0
Votes |
62
Posts

abandon home for my self!!!

Mike Chubb
  • River Grove, IL
Posted

I found a property that I was going to TRY(i say that cause I needed funds) and buy to fix and flip...however life situations  have come up and I need a home for my self and 3 kids with the one on the way...here it goes 3br brick home 2 bath unfinished basement in cook county illinois...back taxes on this property are all that is owed no mortgage it's on 3 property pin numbers which #2 has been sold to a tax buyer that can only be redeemed from that tax buyer for 23k(i have been in contact with them and they have not deeded the property and won't for awhile) pin#1 and #3 has unpaid taxes a portion sold to a tax buyer and the others just need to be paid for. Total of 18k which comes to a total of 41k just in taxes to control the property I need the owner to sign the deed over before I pay any taxes he just wants 5k so total purchase is 46k the home needs 73k in rehab it's currently no livable due to no water heater and a hole in the roof I cannot get conventional lending as I need to do a few steps with the 46k to clear title ( no lender or title company ive called will deal with this property) I need a creative way to obtain this property my partner in business(my father) has the credit and income to help me but we have no 20% at this time he's also apprehensive about hard money and we have no one to lend us the money what can we do?

Most Popular Reply

User Stats

3,866
Posts
3,548
Votes
Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
3,548
Votes |
3,866
Posts
Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
Replied

Care to re-post this in a more readable, cogent manner? Sorry, but I can't follow this.

This is a discussion forum so readers need to skim to get your point. Yours is buried deeper than Texas oil. Suggest breaking it up and making a compelling point. Good luck.

Loading replies...