(VIDEO) Baltimore Tax Lien - Yet Another BP Tag Team Deal

[J Scott]

Just another example of how BiggerPockets can bring people together to do deals and make money...

@Christina R. spent time with @Ned Carey last year learning about tax liens, and took the leap and purchased her first lien in Baltimore City about 14 months ago under Ned's tutelage.  I met Christina earlier this year while she was waiting to foreclose on the property, and she asked if I wanted to partner on the deal.  I was looking to learn about tax liens, so I jumped in as well.

Well, about two weeks ago, we got our foreclosure judgement, and it was time to see the inside of the property for the first time.  Ned used the occasion as an opportunity to do a coaching session for our local RE Meetup Group (BWI Meetup).

Here's the video:

https://www.dropbox.com/s/vkwa56y3fvhah3v/jscott_t...

On top of that, we have at least one BP member who will be helping us with the trash out and may have another BP member who will be helping us wholesale it once it's cleaned out.

[J Scott]

As mentioned above, we officially have this one under contract.  Ultimately, it involved 5 BP members in different capacities (Ned advised, Christina and I partnered, another member did the trash out and another member found our buyer).

Our contract is for $16K, which --assuming it closes -- would net us a little more than $9K profit, and an IRR of about 300%.

Just a testament to the power of BP bringing great people together!