All Forum Posts by: Adrian Wooten

As the title states I have 20-30k I would like to invest into real estate in the Atlanta area. I felt the best tactic with my amount would be to flip or BRRRR a small single family home.I'm not having the best luck finding homes in my 200k all in buy box (hard money is 10% down) due to the surging market. Any suggestions on locations I can look into?Thanks to anyone that can help.

P.S. My ultimate goal is to aquire multifamily and rent to traveling healthcare professionals.

2 Votes

Atlanta, Georgia

Originally posted by @John Underwood:

Originally posted by @Adrian Wooten:

Originally posted by @Jay Hinrichs:

Originally posted by @John Underwood:

Originally posted by @Jay Hinrichs:

Originally posted by @Account Closed:

What you should be worried about is you are most likely buying a second or lower position lien.

If you don't know what that is, don't even think about doing anything until you do, unless you don't mind situations like paying for someone else's swimming pool.

I wonder how that works with TAx liens do the mortgage survive until the right of redemption is over or a quiet title action ?

but it would be easy enough to pull An encumbrance report on it from a national title company and figure that out.

@John Underwood John is in your neck of the woods and from what I have gleaned from his posts these are deals he knows and understands maybe he would help you understand your risk/reward scenario here.

I would get a title search completed so you know of there are any issues. If the tax deed is issued and the county noticed everyone property. Then any mortgage is wiped out.

I would absolutely buy this for cash with a Quit Claim deed after checking the title report. The. I wouldn't worry about the Quiet title if your just going to rent it.

its kind of like buying a car with a salvage title.. it still drives but the value is less..

Understood. I was not trying to flip, it is across the street from 2 hospitals and I wanted to keep it as a STR for travel nurses. It needs a complete rehab. My thought process was worst case scenario the land would be worth 9k if I had to demo the house.

I'd buy it immediately once I knew what the title search looked like. I'd get it under contract today with a couple of contingencies. Heck see if they will take 7500 cash for it.

Waiting to hear back from the lawyer about the title situation as I type this. I was initially 6k but someone drove the price up.

0 Votes

Originally posted by @Jay Hinrichs:

Originally posted by @John Underwood:

Originally posted by @Jay Hinrichs:

Originally posted by @Account Closed:

What you should be worried about is you are most likely buying a second or lower position lien.

If you don't know what that is, don't even think about doing anything until you do, unless you don't mind situations like paying for someone else's swimming pool.

I wonder how that works with TAx liens do the mortgage survive until the right of redemption is over or a quiet title action ?

but it would be easy enough to pull An encumbrance report on it from a national title company and figure that out.

I would get a title search completed so you know of there are any issues. If the tax deed is issued and the county noticed everyone property. Then any mortgage is wiped out.

I would absolutely buy this for cash with a Quit Claim deed after checking the title report. The. I wouldn't worry about the Quiet title if your just going to rent it.

its kind of like buying a car with a salvage title.. it still drives but the value is less..

0 Votes

Thank you everyone for your help.

0 Votes

Originally posted by @Scott A Moore:

@Adrian Wooten I assume this is a private party sale for a property that was purchased at tax auction? My recommendation would be to offer them 15k for a contract to purchase it once they have finalized the Quiet Title action. That will take approximately 6 months providing the 365 day holding period has passed. You will then have a property that can be held or flipped and is insurable and bankable. As it is, it’s a wooden nickel.

Wishing you the best.

It was aquired from an auction then sold to the current seller.It was listed on the MLS.

0 Votes

Originally posted by @Stan Sugarman:

You should order a title report through an experienced title lawyer who can walk you through a quiet title action. There could be a lot of pitfalls from a quiet title action where another party could prevail.

Thank you so much

0 Votes

Hello BP Georgia,

I am debating on putting an offer on a duplex that for a buy an hold investment. The property is an extremely low price (9k) due to it being a tax lien auction purchase and is not eligible for title insurance. I still think it will be an incredible deal since it is situated right next to 2 hospitals. I am aware a quiet title would have to be done but is there anything else I should be worried about?

0 Votes

It looks awesome. Congrats.

0 Votes

Originally posted by @Azeez K.:

@Riaz Salehbhai will DM you info. Good luck

Hi Azeez,

I am interested as well . Could you send the information to me also?

0 Votes

All Forum Posts by: Adrian Wooten

Adrian Wooten has started 12 posts and replied 39 times.

Post: Atlanta Short Term Rentals

Post: 20k to invest in the Atlanta area

Post: Purchasing a property with title issues.

Post: Purchasing a property with title issues.

Post: Purchasing a property with title issues.

Post: Purchasing a property with title issues.

Post: Purchasing a property with title issues.

Post: Purchasing a property with title issues.

Post: This property was my first BRRRR investment.

Post: Credit Union or Portfolio Lenders in Atlanta Area