All Forum Posts by: Dylan D.

Does anyone know or have experience with Medicare recovery liens. The lien was filed prior to the tax lien. Would this lien survive the foreclosure? 

Hello, has anyone ever ran into student loan liens and judgements coming back on a foreclosed property? Would student loan judgments survive a tax forclosure (deed)? The reason this worried me is the fact that some student debt is federal so I was not sure if the lien would be superior to the tax lien.

I have located a vacant property and reached out to the owner which inherited the property. The house is in very bad shape and would be a complete gut but in a decent nerighborhood. The owner told me a price which seemed very reasonable. After doing an extensive search I have found 4 property tax liens an IRS lien and a 1000 dollar delinquent water/sewer bill. Also is currently 2 years behind on taxes which has not been sold off yet. I contacted the company that owns all 4 tax liens and was told the pay off with interest would be 22k plus attorney fees. The IRS lien is for 6k plus the current tax bill and water bill puts everything owed right at about 33k..The owner knew there was some liens and wouldn’t be making much money In the deal however the liens are 3k more than her asking price.. so my question is am I able to purchase the house off of her via QCD for next to nothing (basically just to put a little money in her pocket) and then pay these liens just enough to avoid forclosure and then pay everything off with the proceeds of the sale when I turn around and sell a few months down the road. I understand obviously I would need to consult with an attorney but I’m basically just trying to see if a deal like this is possible. This way I could purchase the home with 1/3 of the money and have the money to rehab it..

Hello, I will try to refrain from writing a whole book here trying to explain my situation. I currently own a small piece of vacant land 5 acres in a very desirable location (school district etc). It was purchased years ago with plans of building eventually. Surrounding my property is a 70 acre tract of land which is absolutely beautiful untouched ground. And over the past few years I have never seen anyone on this property. After doing some research I have located the owner and I went to his house to talk to him to see if he had any interest in selling the property. The gentleman is 95 years old the farm has been in his family since 1930, he has no living children only a couple grand children. He loved talking about the property but the interest level of selling it was not that high. The property is very sentimental to him and he told me that eventually he will need to sell but at this time right now he dosnt want to make any decisions. So that is where I’m looking for different options I don’t care if this man lives another 25 years and never sells the property I have no problem with him owning the land around me. What I do want is the option to buy when he does sell. At his age and my plans to build a home etc it is scary who could soon own everything that surrounds me. So what kind of approach could I go at this with some type of right of first refusal agreement? Basically I am perfectly fine with him not selling it right now i just want to be the person that has the option to buy when he does..thanks for any help

there is a house in my neighborhood that I believed is vacant, several tax liens, yard is very overgrown, never see any activity. According to auditor, owners address is still listed as property address. And owner is elderly, so there is a good possibility she just doesn't keep up on yard etc, I am not 100% sure it's vacant. What I'm wondering is if I where to go knock on the door and the owner does in fact still live there. What are some things that you would recommend saying in order to not offend the owner by saying I stopped because your home looks vacant. I just don't want to start the conversation off awkwardly. What are some other things I could use as reason for stop.

Jay Hinrichs thanks for the reply, the property is already listed to go to sale at end of January, it does state starting bid will be 2/3 of apraisal, but is it common for the bank to take that big of a loss or are they more then likely going to bid up close to what is owed.

There is a piece of land that is coming up for sheriff sale in 1 month. The piece of land is in an area that I've been searching for land in for years, it is my ideal building spot, family in area etc. that being said I am willing to pay for this property. Here is what I've found out on the property..it is a 17 acre tract of land with a home which probably needs demolished, at one time this was a part of a 100 acre tract witch has been lotted off in 20 acre parcels over the last 15 years. The owner died about 8 months ago and from what I can gather was living in the house on the property at that time (not sure how the house is litterly falling over) The most recent 20 acre lot was sold in 2015 and sold for 86,000 the auditor has the 17 acre parcel that is foreclosed apraised at 90k. I'm assuming at the time of the apraisal the house added some type of value. The lender that is foreclosing appears to be the only lien. As of 2013the balance was around 125k!! So for the sake of keeping things simple lets just assume that the banks upset price is 120k+/- and that this is the only lien involved. My question is before wasting a bunch of money on title searches and consulting with an attorney am I wasting my time hoping that this would sell for 30-40k less then what the bank is owed? I am confident that I would be the only person willing to pay that much for this property in the condition that it is in so my only competition would be the bank.

I'm sure this may be frowned upon because of fact that would be considered disturbing the tenant. However recently I have had a large amount of homes in my area hitting the mls as curb offers only. Has anyone approached a home (without realtor) and tried to maybe offer the tenant/owner a little bit of cash for there time if they are uncooperative I feel you could really feel somebody out in just an hour (living conditions, home condition, type of person that's going to destroy home etc) and it would give me a huge advantage over other buyers and lower risk..Also could this be done in pre foreclosure homes facing sherriff sale..but most importantly is this even legal?

Hello, I'm sure this has been answered in many ways but after searching around a little haven't come up with a for sure answer. My question is, is there anyway to make a deal directly with a homeowner after foreclosure has been declared and property is already listed for sherriff sale. The property of interest is actually my neighbors house and I had no clue he was having trouble of any kind just happened to see the house on the county's list of foreclosures. So my question is, is there any way I can approach him and get the house withdrawn and somehow turn this into a deal would love to own the house, we are by no means close but we are close enough where I'm not going to offend him if I go over and start asking questions. What's your guys thoughts??

Are there any good reads on this topic. As I try to grow and get more deals going this is one thing I lack knowledge on. Do most of you guys keep your own books use a software such as quickbooks or use an accountant. Do you guys tend to use a certain percentage of the profit as an income while putting x amount back into the company and so forth.