All Forum Posts by: David Dey

Findagrave.com

Ok ok I couldn’t resist.

The cheapest service would be been verified who is surprisingly good about determining deceased along with dod.

Additionally a membership to ancestry.com is a must for heir investors.

If they are an investor, then I come as an investor.  If they are an individual, I come as an individual that owns property near their property. (I don’t say neighbor but that is the feeling)

Also, depending on the list that you’ve compiled this lead from might also make a difference as to my starting intro.

(Ex:
vacant abandoned property.. “Hi, my name is David, I own property not far from your place on ******, I noticed the place looked like it was abandoned and I was wondering if you were planning on doing anything with it.”  
or

Tax deed...  hi, my name is David, I own property near your property on ****, I saw that it was going to tax deed.  I was going to bid on it but then I thought I should probably get in touch with you to see if you even knew about the situation.  Maybe I can help.”)

You don’t just say you want to buy the property right off the bat, because then you pigeon hole yourself into only one solution which they may not be ready to consider yet.

Leave it as open ended as possible up front so that you can learn their motivation before making your offer.

Hope this helps.

The best place to look for duplexes would be your county’s property appraiser.

They have a list of every single property in the county.  

“Why you ask?”

So they can charge taxes.

They have to organize the list by property types, so they can charge the proper taxes.

They list each property type by “DOR use code (Dept of revenue) or property use code.

Call your property appraiser/assessor office and ask for a list of all the duplexes in the county or the city you want.

Now look for time of ownership and distance from the property.  These are the key indicators to getting a willing seller for a good price.

Oh btw, truepeoplesearch.com and fastpeoplesearch.com both are free.

@Andre Bias

It absolutely can be done without money. However, you can’t invest for free. There is no such thing as a free meal.

You will either spend money or sweat equity.

I spend zero dollars on marketing and get my leads entirely from public records.

I will give you some advise, both for the lack of resources and the lack of knowledge in the business.

Go to your local meetups/rei meetings and get recommendations from the organizer/ president to see if they will introduce you to a potential mentor in the group.

Once you get the introduction, offer to work for them/ partner with them on deals that you bring to them. Then go driving for dollars and see what you can find.

Once you find the property, go to the property appraiser and see who owns it, then bring it to your mentor and see what they can do and learn from them.

Hope this helps

@Stacy Siska we have one str in Davenport. However, i think the competition is so strong, you have to either keep your price down or do something to stand out.

I think long term would probably do you just as well.

Royalty title out of Tampa but they cover polk and all of central FL.

They are phenomenal.

Tell them Dave Dey sent u and they’ll treat you right😎 (or kick you out, one or the other)

@Daniel Stanziale where the heck is Naugatuck?

Here’s the deal, rules of forclosure vary from state to state.

Unless I know what state the property is in, I can’t help u.

you have two options.  

1) double close the property, using transactional funding.

2) you may ask the seller if you can put the property into a “single asset entity.”  If you took the contract in your personal name, the reason to do this is simple.  You want to buy the property in a corporation.

If you took the contract in your corporate name, ask for a single asset entity for asset protection purpose.

Once you have the property in this newly created company, instead of selling the property and violating the contract, now you can simply sell your company which owns the contract and they can finish the closing.

Hi Ryan,

Unfortunately, if you just bought the most recent years lien, the 2 years of back taxes don’t give you the right to foreclose.  

It gives the owner of the tax lien that holds the 3rd year back the right to go ahead and pay you and the 2nd year off, then allows him to apply for the foreclosure.

Also, I hope you remember, if you are actually trying to acquire the property, even if you are the 3rd year back and you go through the steps, your tax lien is only good up to the full judgement of your principal and interest plus costs.  

If the property is any good at all, you will most likely get outbid and will get your money l, not the property.

The only creative option that You might try is, you could reach out to the holder of the other liens and buy them from the other lien holders.  Many of them are willing to sell their position, but usually not at a discount.  

Then you could do the same play as a bank would have with a defaulted note.  Reach out to the owner as the lien holder and do some kind of loan work out, or negotiate a deed in lieu of foreclosure.  Then payoff the rest of the liens and you have just avoided the competition of the tax deed auction.

Also, if the property is abandoned, and you can’t find the owner or their heirs in a death situation, you could always pay off the taxes and file an adverse possession.  But keep in mind, this is a riskier proposition, as you do not own the property until the timeframe for the adverse possession is up.

Hope this helps.