Single Family Home Tax Deed, with quit claims from heirs.

[Danny Price]

Investment Info:

Single-family residence buy & hold investment in Gadsden.

Purchase price: $1,800

Cash invested: $2,000

Purchased Tax Deed from Corporate Investor, then obtained a quit claim from heirs.

I plan to rehab and do cash-out refi.

What made you interested in investing in this type of deal?

The corporate investor was considering all offers, so I made a low offer and they accepted. I had already contacted heirs and knew they were willing to give me a quit claim. Their deceased parent had allowed Medicaid to place a lien on the home. However, as the Tax Deed holder, I knew I had leverage with Medicaid.

How did you find this deal and how did you negotiate it?

Through personal contacts with the corporate investor from past dealings.

How did you finance this deal?

Cash

How did you add value to the deal?

Very thorough due diligence, speaking with neighbors, and negotiating with tax deed investor for purchase of adjoining lot.

What was the outcome?

Obtained quit-claims and in the process of getting Medicaid to release lien. Then I will rehab and rent or flip.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no