All Forum Posts by: Brad Cogswell

Ah got it @Peter Rowell , sorry I misunderstood I saw the ARV figures and just assumed.

@Peter Rowell even if (and that's a big IF given you haven't been able to view the property), if everything goes exactly according to plan with a $100k rehab and a holding period of 4 months, you are still only looking at about $20k in profit when you factor in selling commissions, closing costs, etc. That's without any costs to foreclose. For some that's reasonable, but given this is your first flip I would look for more cushion in case something goes wrong here.

That's helpful @Ned Carey , thank you and good to know about the deed/lien differentiation. Also thank you @JR T. We are going to go through the process with this first one as a test. I'll let you all know how it goes/I'm sure you'll see some more questions as we have them.

@Daniel B Trader that's an awesome story of how you got into RE. We can trade RE tips for fantasy football advice! Looking forward to connecting more.

@Ned Carey I appreciate the thoughtful response and the contact to get the substantial repair certificate. And the information around the quiet title is super helpful, I've been reading others who have spent another 4-5 months going for that action.

Based on the above and the research we have been doing, it sounds like this is something we will be moving forward with.

If I am buying the lien off of @Kenneth Futrell , who would we go to from the city in order to transfer/assign the lien certificate?

Hey BP, and particularly Baltimore folks - 

Another BP member, @Kenneth Futrell , and I are thinking of doing some work together on a tax lien that he purchased. We had a couple questions and were hoping some folks who have done this could help us out.

A couple of acknowledgments to start: 1) I understand that 99% of tax liens are redeemed, so this conversation might be a moot point; 2) I understand that tax lien investing has it's own risks and the returns are not what are often advertised in education seminars, videos, etc. I am treating this more of a low-risk intro into the potential of tax lien investing.

OK, now a couple questions:

1) For those that have gone through the entire foreclosure process on a tax lien, what is a range of the costs to go from tax lien certificate to quiet title? The things I would anticipate paying for would be my actual bid, the foreclosure process, the process to obtain quiet title, and any property taxes due during that time. What am I missing?

2) We understand that you can move up the timeline to foreclose if the property is vacant and we obtain a Substantial Repair Order. What is required of us in order to obtain a Substantial Repair Order?

Thanks all, appreciate it.

Brad

Great thing, and thanks for the note @Teresa F. , appreciate it!

That's interesting Russell, I've never heard of that. Will keep in mind for the future.

@Kevin Favorite thanks for this, I had never seen this information before. 

@Ozzy Sirimsi does your office have a way to do a dial-in/video conferencing? If I'm in Baltimore when you hold the sessions I'm in, but otherwise would have to connect remotely.