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Updated almost 9 years ago,

User Stats

116
Posts
48
Votes
Shawn Couch
Agent
Pro Member
  • Investor
  • Encinitas, CA
48
Votes |
116
Posts

LEGAL Notifications after acquiring a tax line certificate

Shawn Couch
Agent
Pro Member
  • Investor
  • Encinitas, CA
Posted

Hello fellow tax lien BP'ers.

I bought a few certificates last year at a sale in indiana.  These were lower end properties that has all basically been abandoned, but most were in decent condition.  Well, one was a partial burnout in a bad part of town, and one turned out to be a vacant lot, but the prices were super low and the net result has been that I have two multi-unit buildings that I got for a song, all things considered.  The niggest buzz kill is the long redemption period so a carry factor has to be included as well.  The resale market for these in an as-is basis is far from a deep pocket group, so keeping the remainder of the purchase costs down is a big plus.  

So I'm here to see if I can find an attorney, or paralegal that can work on these deals, or show me what to do, in order to keep the costs down.  I spent more money on attorney's fees than on the certificates at the last sale.  I also am curious how many folks run title, and/or go through the quiet title process after getting the tax deed.  That's another big expense, but a lot of people have a hard time taking title with just a quit claim deed.

Any and all input welcome, round 2 is only a few weeks out and although I don't feel like I made mistake in round 1, I'm still not feeling like an expert by any means.

  • Shawn Couch

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