All Forum Posts by: Brooke Boyd

Hello, I am looking for a broker that does Fannie Mae multifamily.  I'm located in Birmingham, AL.

Hello! Can anyone tell me if the Supreme Court ruled that the auctions on some tax sales may be void if they were not bought on the courthouse steps in Jefferson County AL? 

Thank you for your input. My only concern is, would an investor pay $180,000 cash on a property that he/she might not even get due to the quiet title process not being complete? I'd be scared to pay cash on property with a high risk of loss due to the owners coming back to redeem for only 18k and 12% interest. Seems like a very high risk.

I am the owner of the tax certificate and will be getting the deed soon. But will still need to quiet the title which looks to be messy on this property. 

I'm trying to figure out how to come to a value on the certificate or deed as it is today with the lien and cloudy title. The lien is for water. 

I am wanting to know the value of my tax certificate. I purchased for 18k in back taxes. There is a right of redemption here in AL. There is a 4k lien. The property is in very bad condition. The title will need to be cleared. There is a trust made up of several doctors and lawyers that could easily redeem the property when notified through the quiet title process. So as of today, what can I do do find out the value of my tax certificate? Or is it worth what I paid for it?

I am wanting to find out if anyone has any knowledge what can happen if you have a tax certificate in your name only and are going through a divorce. I am in Alabama. I have asked attorneys and they dont really seem to know. I apologize in advance if this question is inappropriate for this forum. 

I didn't know that! I will contact RevBirmingham. 

I'll contact Lima One as well. Thanks for the referrals :)

I purchased a historic 5 unit apartment building in Birmingham, AL and I am getting ready to start the work. I think my regular loan guy quoted me 20% down and 18% interest rate to get funds for rehab a while back. I am wanting to borrow $100k. There is no mortgage on the property. I hope to receive the historic Federal and State tax credits. I could sell my house to get the funds but the value on my house continues to grow (located in the up and coming Avondale hotspot) so I would hate to cut off that asset at this time. I want my home value to continue to increase. Does anyone have referrals or solutions on how to get money for an apartment rehab. The 18% interest seems ridiculous. 

@Denise Evans

So when I receive the tax deed, what kind of title will I have? Will my name be on the title? I am sure my banker will want to see that. He says that he can give me a loan on the tax property but I just want to make sure and tell him everything upfront. This is a multi unit property, did you know someone who just did one of these deals? I sure would love to speak or message him. 

How long after receiving the tax deed can you start the procedure to quiet the title? (In Alabama) Do I have to get an attorney to do this and if so how much do they charge for quieting the title?