All Forum Posts by: Cazemba Richards

I'm planning on going to my first lien auction in May in New York City, @Ian CoxThanks for the site @Steve Hodgdon. 

Hello community,

I am new to BP and very new to real estate investing. I have been looking into purchasing tax liens for sometime now but I never took that first step yet.

I think I fairly understand the process. Counties auction tax liens to the public. After purchasing a tax lien, there is a redemption period(dependent on the state) for when the property owner can pay their unpaid taxes. If the owner pays the taxes within the redemption period, the tax lien holder will receive the amount they purchased for the lien plus interest.

My question is, what happens when the property owner does not pay the taxes within the redemption period. Also is there any kind of deal I could make with the property owner before the auction?

Thank you for all the input everyone. I think I'm going to try to wholesale it either by double closing or buying a Corp. However there is a unfortunate twist to the deal. I just contacted the real estate agent and she just confirmed to me that the property is in the process of being purchase. 

I appreciate the help.

Thank you for the info @David Dachtera and @Trent Currie. Seeing that I can't wholesale this deal, the only way to make a profit from this deal would be to purchase the property and flip it, correct?

Are there any other options?

Hello my fellow mates,

I am very new to real estate investing and I'm still in the early learning phase. After a few weeks of research I have decided that I want to start my investing career with wholesaling. 

Fortunately I have found an amazing deal in New York City. However after doing my research on the property, I found out that its a short sale. I spoke to the real estate agency and they claimed it was in contract. May someone please explain what "in contract" means? I did a little more digging and found out that an REO agent owns/manage(not sure how the property is associated with the REO agent).

How would I wholesale this short sale? How should I approach the REO agent about the property? How would I market this deal to investors?