All Forum Posts by: Blair Poelman

I use a firm in Utah called Guardian Law.  They are a law firm licensed in several states.  I've closed a fair number of transactions with them and I've always been satisfied.

You may want to run a full gamut of numbers on that deal, along with a hefty inspection.  $79k for a deal that generates $48k / year sounds waaaaaay too good.

Chi-town taxes are steep, and there are definitely some neighborhoods I'd stay out of.

The low taxes may be due to the property being sold at the tax auction - or possibly the neighborhood took a dive a while back, got reassessed super low, and it's now coming back to life piece by piece.  Check the abstract and see if you can find a tax foreclosure, might shed some light on the situation.

I'm not sure about Marion county (I haven't bought in Indy since late 2013) but in my hometown the county has access to the MLS and uses a mystical magical formula to calculate assessments.

Auto-dialers come with big tech requirements and even bigger price tags, and cold-calling is serious brain damage.  Even when I get calls from agents watching new recordings that actually know a little bit about whatever property I just closed, I'm not about to spend any time with them.  

Also keep in mind the "20-30" may be a little bit of an exaggeration, but who knows, if they really are getting that to work on phone book leads then good for them.

I would say you'd have better success buying a targeted list from somebody like InfoUSA, or WalterKarl

Serenity Now!   https://www.youtube.com/watch?v=-mbdiekT-7w

It could be a good deal as long as the value of the property is greater than the price tag and the taxes due.  

Sounds like you've got a taxlien issue on the property.  I've done a handful of these in Florida and I've made out okay on some, not as great on others.  My position was as a buyer of the taxlien, then I would foreclose on it.  It's expensive to do (my average cost is about $800/ forelclosure) , but the foreclosure action is going to force the actual debtor to either pay the taxes, or I would get the property.  Of course I never wanted the property, but when you're paying 10k for a 15k tax lien, and it redeems for 17k, I'd take that over and over.   Side-note: Florida has a pretty big secondary taxlien market that moves those liens at a discount to investors - there's money to be made there.  

(assuming you're in Florida) Florida has right of redemption, so if it does go to the tax auction and actually gets sold, you (or the owner) can redeem and get the property back by paying the taxes plus the interest - or you can get foreclosed on. I believe there's time limits on the redemption - best bet is for you to speak with a RE attorney in that state that specializes or at least knows how to deal with taxlien foreclosures. Some counties in Florida are as much as 18% interest, so that $7,000 is getting bigger every day.

Kind of got into the weeds on that one - but hopefully this sheds a little light on what can happen with the $7,000 in owed taxes.

Hey there BP community!  I'm a long-time investor and licensed Realtor in Utah.  I focus mainly in Salt Lake and Utah counties and specialize in finding AMAZING deals.

If you're an investor in Utah you've probably felt the squeeze on inventory, but don't be discouraged, the deals are still out there.  You just have to know where to look and what to look for - and be able to move pretty quick.  I'm out every day finding these deals - they really are out there in this town, and I'd prefer to send these deals to legit buyers who are active investors and can actually close.

If you're looking for deals in my neck of the woods I'd love to start sending these deals to you. I'm a no-nonsense, cut the chase kind of guy so I'm not going to lay on a pushy sales pitch or hound you all day about whether or not you're interested.  Just give me a quick DM or email and let's get to work.

that's not a deal killer - maybe just a first time seller with no guidance.  Seems to me the right way to deal with this now is for title to hold that amount in escrow until the payments have been verified, and then release that amount to the seller in a few days - or whenever...