All Forum Posts by: JR T.

@Alex T. Notifying interested parties about the pending case to foreclose the right of redemption is the essential step in your tax sale litigation that will leave you with a defensible title or one that is subject to attack. 

Your attorney should have the notices served on the interested parties and posted and mailed to the property address. In the case of an expired entity the court will sometimes allow you to serve the Dept. of Assessments and Taxation, make a serve by publication in the courthouse, etc. But you have to get permission from the court to serve that way by documenting the unique facts of your case to the court.

My tax sale property we found out the owner was deceased right after we got our first judgment. So I hired a second lawyer to open her estate (as its largest creditor), once the estate was opened we served that lawyer and we got a new judgment that will (hopefully) survive any potential claims from her heirs.

The lien is still valid, the defendant will owe all the interest and your reasonable costs and fees should they elect to redeem the property. 

Olde Towne Title in Frederick services both states. I know they are wholesaler friendly because a worthless wholesaler once sent me to them to fund a transaction he couldn't close. They were good to work with given the unpleasant circumstances.

You can withhold the money from her security deposit. She can sue you for the amount you failed to return and depending on your state perhaps some additional damages. 

In practice the tenants rarely sue, if she does I would just refund her the disputed portion of the withholdings to try and avoid court.

Have the title company disburse the proceeds to the rightful owner(s). They can explain to you in advance how the tax forms will be handled.

@Karla Talancon If you're looking to originate the owner financing you'd have to own the property in advance with enough equity to afford to provide the financing. 

If you're looking to help uncreditworthy clients get into owner-finance deals ig's not a good use of your time. You can submit any seller an offer with an owner financing contingency, but most are rejected - you'll do much better as an agent catering to well-qualified buyers.

Take the advice of your financial advisor. You have plenty of time in life to acquire real estate. If you plan to hold onto it you must be on solid financial footing.

While waiting is not very exciting I promise that when you finally make it happen you'll be less than thrilled about the amount of "passive" income you receive relative to the cost and work involved in real estate.

The Maryland market is very tough right now for disciplined buyers. If the numbers don't work they don't work. The right deal will come along it just takes patience. I was acquiring at a pretty good clip and in past 12 months only got one property and that was through a tax sale. The market is hot. 

Screening is the most important ingredient in your success, not necessarily getting the highest market rent - but the best-qualified tenant who will pay on time and not cause issues.

In Maryland, eviction court records are not docketed outside Prince Georges County. One service that can identify tenants with a prior eviction record is Corelogic (myrental.com). They send representatives into every Maryland courthouse each week to copy the filings. You can buy their eviction report stand alone for $8. This is the best $8 you will ever spend on your property and I suggest passing on anyone a prior landlord had to sue for eviction. 

Good luck!

You can just call the Real Estate Commission and they'll confirm to you that it is. Nobody is keeping it a secret. There is no law against a bad deal.

A huge part of the college experience is not living with your Dad. Even if you have to borrow the money do it. Two years in at UCLA so many doors will have opened for you this site will be but a memory, Have fun and push yourself to try new things,