All Forum Posts by: Ahsan Harriel

Anastasia.. I am looking to purchase tax deeds from a private party in Jefferson county redemption periods have passed would you mind giving me some advice on what I need to look for and how will I get clear title of this property.

Thank you. Ahsan

1st thing is to complete your research on the property YOURSELF. Have you or a 3rd party you have hired went to view the property? Is it occupied or vacant? Have you looked up the total amount of taxes that is due? How much of a premium is the seller putting on top? Is the previous owner still in possession? Have you attempted to contact the previous owner before sending this private seller your money? Have you pulled a title report?

It was a scam. The seller made it seem to me that they already had the deed for it. Mind you it is still on the delinquent tax list. They told me the 3 years had passed the sale happened in 2018. Too many red flags they were charging 4K over what was owed on the jeffererson county tax assessor website. It is occupied. No I didn’t reach out to the owner should I?

Absolutely. The owner (depending on how open they are with discussing their financial situation with a stranger) may let you know if they intend on paying their taxes or letting it go. No way in knowing if you don't ask. Many sellers will wholesale their quotes they get from the state before they get the deed/certificates. Not a scam but you do need to evaluate your risk. A $4k+ assignment fee isn't unheard of on tax properties that are low risk (dead, no heirs, poor, defunct LLCs, or incarcerated owners). You must first evaluate the risk..........

Seller portrayed the image that she was the deed holder personally nothing about assignment was mentioned even sent me a contract from her company. She told me personally that the 3 years had passed. When the sale was a year ago.

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Originally posted by @Anastasia Jordan:

Originally posted by @Ahsan Harriel:

Originally posted by @Anastasia Jordan:

Originally posted by @Mario Am:

Hey ya’ll I hope everyone is having a good day.

I have 2 questions maybe I can get some answers

In case I bought a tax deed (actual deed - not certificate).

answers:

1. What needs to be done in order to take lawful possession of the property in case it is vacant? (Besides changing the locks)

2. What needs to be done in order to take lawful possession in case the property is occupied?

Kind Regards,

Mario

In both cases you would just file an ejectment. Do not spend money changing locks until you are granted possession.

Thank you. Ahsan

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Originally posted by @Denise Evans:

@Colleen Woods, the redemption bond protects only your lender who loans money for the purchase. At least, that was true the last time I checked, which was probably in the middle of the crash, when there were so many foreclosures to be bought. Ask the title company who will be doing your closing.

I am looking to purchase tax deeds from a private party in Jefferson county redemption periods have passed would you mind giving me some advice on what I need to look for and how will I get clear title of this property.

Thank you

0 Votes

Originally posted by @Anastasia Jordan:

Originally posted by @Mario Am:

Hey ya’ll I hope everyone is having a good day.

I have 2 questions maybe I can get some answers

In case I bought a tax deed (actual deed - not certificate).

answers:

1. What needs to be done in order to take lawful possession of the property in case it is vacant? (Besides changing the locks)

2. What needs to be done in order to take lawful possession in case the property is occupied?

Kind Regards,

Mario

In both cases you would just file an ejectment. Do not spend money changing locks until you are granted possession.

Thank you. Ahsan

0 Votes

Wise choice of words. It is truly all luck. I am trying my best to take it with a grain of salt but there is a part of me that knows the only reason I got lucky is because I did something to have a ground to stand on. You worst investment is the one you never attempted and I keep telling my self this day in and day out. I know I am on the kiddie pool side of the spectrum but I have to at least attempt to take my shot.

Originally posted by @Tyler Hardy:

@Ahsan Harriel I would go with Lee on this one. Quick turn over and no renovation means your dollar can be used on your next project faster. I'd take the cash, pay the capital gains, and do it again. It's good to get lucky sometimes, but don't let it go to your head. Good job though!

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The neighborhood definitely has a lot of potential there is a Walmart, Kroger, Home depot And any restaurant you can possibly name within a 10 min walk from the property not to mention a huge highway expansion almost complete. It is mins from downtown. This wouldn’t be my first time trying to make something happen in a so called warzone. I am trying to avoid banks at all cost right now because my main concern is cash flow. If I can sacrifice a month and a half’s worth of work to be able to pay for the home i really don’t see how I can lose.

Originally posted by @Clint Shelley:

Sounds like a crappy neighborhood. I'd take the cash and save. Go to small bank and get a loan for a 35-50k fixer in a better neighborhood. Use your 15 for rehab and then BRRRR that out for next deal. You can lose money on a free house in a bad hood. Good luck.

Clint

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About 30k but after studying the market and getting To know it a little more. I do see a lot of other houses that need significantly less work in the same price range. I kinda just jumped on the first deal I found. For everyone talking about tax purposes is 1031 not an option? If I were to take the profits and use that to buy 3 more like properties would this work? I think the potential buyer has more of a personal connection with the house and is not looking at it as far as a good or bad deal. Remember he owns the house next door and the 2 behind it which none of the 3 are being rented and he has had possession for over 5 years

Originally posted by @Matt M.:

@Ahsan Harriel

I would keep it every day. Making only $9500 and then taxes on that aren’t worth it to me to sell. If you can rehab it for $10k, you’d be all in at $15,500. A steal.

What would it be worth rehabbed?

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Originally posted by @Zack Giarrizzo:

Hi @Eddie Medina De Leon, you picked a great market! I'm an active investor in Puerto Rico as well. I'd be happy to connect and discuss the financing options

I’m curious as well are you still open for discussion?

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Originally posted by @Mike Dymski:

Originally posted by @Ahsan Harriel:

I’m almost certain I can find more deals just like this one. The house wasn’t on the market i just scouted the neighborhood found the owner through tax assessor site and used white pages to get in contact.

Awesome.

What are the white pages...

Www.whitepages.com 5$ a month and you can look up phone numbers by name and address.

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It probably needs another 10k in rehab. I really don’t have it all in full so I would have to work on it as I get it. I was just thinking that the profits would help me get my foot in the door and maybe secure 2 in that same area with a few dollars left over for renovations. it’s a 1b 1bth on each side water and meters already split. Median rent is like 250-300 for that area. My plan was to actually knock the wall down and make it a 3 bedroom single family which will do like $650. I appreciate all the input. Offer came so fast I really was just excited to share it with someone so I posted it

2 Votes

All Forum Posts by: Ahsan Harriel

Ahsan Harriel has started 1 posts and replied 14 times.

Post: Taking possession of a property Jefferson County AL

Post: Taking possession of a property Jefferson County AL

Post: Clarification on Right of Redemption in Alabama

Post: Taking possession of a property Jefferson County AL

Post: Buy and Hold turned in to Flip in less then a week.

Post: Buy and Hold turned in to Flip in less then a week.

Post: Buy and Hold turned in to Flip in less then a week.

Post: any advice on investing in Puerto Rico?

Post: Buy and Hold turned in to Flip in less then a week.

Post: Buy and Hold turned in to Flip in less then a week.