All Forum Posts by: Corey Rippeto

@Lee Ripma Yeah, I came up with an ARV that has been consistent, now I just need to get access to the inside so I can get a final rehab price before making an offer.

I keep telling myself she would be doing well to get rid of the place for only the taxes owed ($2,000) -but I’m not betting on that to happen lol.

Thanks for the help, Lee. :)

I found a property that has been abandoned for over 30 years (exterior still looks great though.) The couple who previously owned it have been deceased since 2001. There was a third person on the records I received from Tax Assessors, listed as the "care giver/tax payer". I made contact with this person, and she said she did in fact inherit the house and she has been the one paying taxes on it. But, i'm curious. If that's the case, why is she not listed as the owner on county records instead of simply the tax payer? 

Also, she sounded happy that I contacted her and she thanked me for offering to help her out of her situation by taking the property off her hands saying "that would be nice". But, she was busy at the time, and also said she wanted to think about it.

I'm also pretty sure I am the only person who has made contact with her in regards to taking this property off her hands ever since she inherited it, (trust me, it took ALOT of work/digging & LUCK to reach her...) so I'm not too worried about someone making an offer any time soon, but I don't want to miss the opportunity due to legal reasons, such as her not paying taxes (she owes 2018 & 2019 taxes). I also don't want to be too aggressive by blowing her up and cause her to ignore me, - especially since I made the mistake of telling her SHE could contact ME at a more convenient time (rather than saying I could call HER another time...)

What should I do now? Wait for her to contact me? -Or... should I go ahead and follow up with phone calls/emails/direct mail?

Thanks for the responses guys!

I found out the two people listed as the owners are deceased -have been since 1998 & 2001.

There’s another woman on the records I got from tax assessors who they said is listed as the properties care giver (paying taxes). Past 2 months of taxes haven’t been paid though.

Looks like my next step will be contacting this woman to see what the deal is.

I’m just curious, though. Why would it be owned two deceased people? What are my options if this woman isn’t an heir?

I found a property that is 100% vacant. It has over grown grass/weeds and I spoke to two neighbors who confirmed it's vacant.

Also, it was on the list of Dilapidated Properties that I received from Code Enforcement, but the officer never said the home actually looks like it should be demolished, just that it has been abandoned for over 30 years and the neighbors have complained about it for some time. So i'm thinking they're just tired of hearing about it.

The neighbors told me someone comes once a year every summer to do a "small" mowing around the place, and that's it.

I have retrieved phone numbers, a current mailing address and an email address for the owner.

What would be the best way to contact them?

I'm comfortable with knocking on their door, calling, anything. Great at talking with people. Just not sure what the best approach might be.

@Michael Seeker thanks for that info, Michael! Your answer was really helpful. I found and reached out to the local Code Enforcement, and I have been to their office 3 times in the past two days since.

The receptionist told me that only the manager has access to these records and that she has no knowledge of a “list”, but the manager is never in the office and he hasn’t returned either of my phone calls.

Do you know if it’s normal for only the manager to have access to these records?

After all, it is public information.

I recently learned about Code Violations and that contacting these owners supposedly has a much higher success rate than simply contacting any regular distressed property owner. So, now i'm trying to figure out just how to find these owners with Code Violations.

I asked the "Zoning" department at my local Public Records office for a list of properties with Zoning/Code Violations, but they told me they don't keep a list on record. Instead, they said they simply take complaints, notify the owner of the property and that "usually is the end of it"...

But, what about the times when that isn't the end of it? What about when the owner doesn't fix whatever the complaint was about, or when they ignore the violation warnings altogether? I find it hard to believe they wouldn't keep that on record..

I was told I could ask the Tax Collectors department about "liens" on properties. Would this be where I could find owners that now have fees owed for having ignored the Code Violations that the "Zoning" department supposedly does not have on record?

I want to try a different method for finding properties. Yesterday, I went to the Rowan County Register of Deeds office to ask them for a list of properties with Zoning Code Violations.

The department “Zoning” told me that they do not keep a list, that they simply take daily complaints and notify the property owner of the complaint, and that’s “often the end of it”...

After reading about experiences by other people who were trying to find zoning code violations, I can’t help but feel like I’ve been given the run around.

It’s strange, because the woman I spoke to seemed kind and helpful, but I find it hard to believe that they wouldn’t keep a record of these reported violations, or that I was in the wrong place.

As I was leaving, a gentleman who worked there asked if I needed help finding anything, and once I explained to him what I was looking for, he directed me to go to the exact department I’d just left. He seemed knowledgeable, too.

If it hadn’t been 5 minutes to closing time, I would have gone back upstairs to ask that lady what the deal was. Maybe she just doesn’t know.

What do you think, BP? Am I being fed a big fat bologna sandwich or is it actually possible that they don’t keep those records?

Where else could I find zone code violations?

Lately, i've been doing a lot of property research, digging into the sale history of properties and such. I'm constantly running into properties that people have bought for dirt cheap. 

This led me to looking into the property i'm currently renting. 

My girlfriend, her friend and myself pay a total of $1,200/month to live in this small 2 bedroom, 1 bath house.

Guess what the owner paid for it?

$11,000.

That's a 130% ROI per year... As a new investor who's constantly checking out properties, and struggling to find deals that I can purchase for 70% of ARV, with a 10-12% ROI per year, that absolutely blows my mind.

How does one find properties that are so cheap, yet yield such an absurd amount of return on investment?

@Terrell Garren

Of course... Why didn’t I think of that?

Terrell, you’re a genius!

@Kris L.

Yep. I was cautious, but of course, you never know for sure what could happen.

In any case, I will no longer be walking properties until invited to do so.

Up until now, I just never thought it would be a problem to walk an abandoned property, especially just walking around the far outside of it. I figured nobody would care. But not anymore.

From now on, I’ll treat abandoned properties with the same respect as occupied ones.