Foreclosures
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
Slum Lords House Going to Tax Auction
Hi BP!
I just purchased my first house hack! It's a lovely duplex on street where every 1/3rd house is being remodeled/updated.
Just a few houses down from my duplex is an abandoned, dilapidated vacant home. On the door, there's a notice that the home will be going to Tax Resale Auction in June for unpaid taxes.
My questions: HOW DO I PREPARE FOR AUCTION? IS THERE A WAY TO GET THE CITY TO SELL IT TO ME BEFORE THE AUCTION? ANY TIPS ON CONTACTING THE OWNER AND CONVINCING HIM TO SELL?
I've done my investigating and found out that the owner owns a TON of houses in our city and has over 160 civil law suits filed against him for stealing people's deposits, not fixing properties that are falling apart, etc. It even got to the point where a local news crew chased him down a street with a camera crew trying to get answers.
I'm going to keep trying to contacting him before the auction, but how do I put myself in the best position to get this property at auction? Will the city consider selling it to me before then? I'm worried that with this being in such a great location for flips and BRRRRs, investors will be all over it if it actually gets to auction.
I have funds lined up for the downpayment and a BRRRR loan, as well as my team in place to get the house back in pristine condition.
I'm a newbie but willing to learn and research, would be very grateful for any advice/suggestions.
Thanks BP!