Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
Tax Liens & Mortgage Notes
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 10 years ago, 07/08/2014

User Stats

23
Posts
5
Votes
Denayer Burns
  • Saint Louis, MO
5
Votes |
23
Posts

Acquiring a Property Prior to Tax Sale

Denayer Burns
  • Saint Louis, MO
Posted

I'm looking to approach a few property owners whose property will go up for auction at the next tax sale.  I want to try to work out a deal with the owner prior to the property going to auction.  Any suggestions on how to approach the conversation?  Anyone have a script they use?

User Stats

553
Posts
490
Votes
Mike Hartzog
Pro Member
  • Lender
  • Redmond, WA
490
Votes |
553
Posts
Mike Hartzog
Pro Member
  • Lender
  • Redmond, WA
Replied

Hi Denayer,

Sounds like a great approach.  I don't have a specific recommendation, other than simply telling them that you are interested in purchasing in the area and was curious if they were interested in selling.  You might consider posting this on the Wholesaling forum.  These folks have this type of conversation frequently and could probably give you some specific suggestions.

Mike 

  • Mike Hartzog
  • User Stats

    402
    Posts
    96
    Votes
    Russell Ponce
    • Investor
    • Santa Rosa, CA
    96
    Votes |
    402
    Posts
    Russell Ponce
    • Investor
    • Santa Rosa, CA
    Replied

    And note that your strategy/solution will depend on how much equity they have.

    BiggerPockets logo
    Join Our Private Community for Passive Investors
    |
    BiggerPockets
    Get first-hand insights and real sponsor reviews from other investors

    User Stats

    23
    Posts
    5
    Votes
    Denayer Burns
    • Saint Louis, MO
    5
    Votes |
    23
    Posts
    Denayer Burns
    • Saint Louis, MO
    Replied

    @ Mike Hartzog, thank you for the suggestion.  I did happen to find an older post from a wholesaling forum which listed the script that I need.  I'm still learning the business and just needed a conversation starter.  Again thank you for the suggestion.

    User Stats

    23
    Posts
    5
    Votes
    Denayer Burns
    • Saint Louis, MO
    5
    Votes |
    23
    Posts
    Denayer Burns
    • Saint Louis, MO
    Replied

    @ Russell Ponce, actually one of the questions addresses the mortgage status.  I certainly don't want to get into a situation where the margins are too slim to make a profit or worse end up costing more than the deal is worth.  I'm considering several different strategies.  Have you invested in tax leins?  If so, what has your experience been?

    User Stats

    16,430
    Posts
    12,705
    Votes
    Ned Carey
    Pro Member
    • Investor
    • Baltimore, MD
    12,705
    Votes |
    16,430
    Posts
    Ned Carey
    Pro Member
    • Investor
    • Baltimore, MD
    ModeratorReplied

    @Denayer Burns  this question has come up before. Don't worry if the thread is about tax sale. It's pretty much the same talking to any seller.  Michael Quarles has written some excellent posts on how to talk to sellers.

    Most importantly start doing it. You will get better with practice.

  • Ned Carey
  • User Stats

    23
    Posts
    5
    Votes
    Denayer Burns
    • Saint Louis, MO
    5
    Votes |
    23
    Posts
    Denayer Burns
    • Saint Louis, MO
    Replied

    @Ned Carey, thank you for the information, I will look him up.  I do plan to start making these calls soon.  I'm one of those people who has to plan and organize everything to a fault.  I think I'm starting to over analyze the conversation.  I need to just start dialing!