All Forum Posts by: Becky Orth

I acquired a property at a sheriff's sale, but the owner has a history of coming up with the money or selling her redemption rights during the redemption period. Do I need to get title insurance and property insurance during the redemption period? Do most investors use the same insurer as their primary residence?

I acquired a property at a sheriff's sale, but the owner has a history of coming up with the money or selling her redemption rights during the redemption period. Do I need to get title insurance and property insurance during the redemption period? Do most investors use the same insurer as their primary residence?

@Wayne Brooks is there any advantage for her to sell me the redemption rights over other investors or does it become a bidding war? 

I just bought a house at a sheriff's sale, but the owner has a history of foreclosures and coming up with the money during the redemption period. She told me she already has a list of people wanting to buy the redemption rights. She has 11 different properties in a prime area of a college town that are all in need of repair. She told me she would like to sell some of the properties,  but needs to avoid paying capital gains. 

Am asking for some advice:

1. Can I and do I also offer to buy her redemption rights? If so, how much over the the amount the bank was owed?

2. Is owner-financing an option to avoid the capital gains taxes?

3. Do I need to get title and property insurance during the redemption period?

Thank you in advance!

Thank you for the warm welcome everyone!

@Ken Dillard great tips on where to go for more info! I'll hop on over to that forum. 

@Andy Krzanowsky hello fellow Jayhawk! I have definitely been paying attention to our city commission and will continue to monitor the status. Thank you for the heads up! 

My husband and I are looking into short-term rental investments as a potential source of income during retirement. I'm looking forward to learning from this forum about how AirBNB has worked for others.