Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Derek Farrel

Derek Farrel has started 1 posts and replied 2 times.

Post: help with tax sale, creative financing ideas

Derek FarrelPosted
  • Portage, MI
  • Posts 2
  • Votes 0

@Ned Carey thank you sir! I'm still learning the ropes and plan to invest in bp pro. I have just been reading and learning as much as possible. As I stated after losing my first attempt at a flip (I got in way over my head) I've been trying to recoup my loss at this time and rebuild. With a change in company's and also a bankruptcy I'm at the verge of buying a new home for my family and then working on some investment property's. I'm a project and sales manager for a roofing company and do fairly well for myself but have a few months down time from mid December to mid March where I would like to fill my time with flipping a house or maybe two to start with. Also if like to build a portfolio of rentals property's as a retirement income, the tax sale was something I heard from a colleague who to say the least is full of it. That is why I inquired here about it. From the sounds of it in your experience these tax property's are probably not the best investment then if they take some time to aquire? Should I stay to purchasing homes in a more conventional manner? 

Post: help with tax sale, creative financing ideas

Derek FarrelPosted
  • Portage, MI
  • Posts 2
  • Votes 0
short back story, I'm a salseman for a fairly large roofing company in Kalamazoo MI. I'm 36 years old and have been remodeling houses for myself or working under someone else since I was 15 (summers and evenings) I've recently started making enough money to begin investing in some property's but heard of tax sakes where you can commit to the city to pay off back taxes on a home with nothing but a signature and no money down..im interested in flipping homes and building a portfolio of rentals. had anyone else started in the buisness by doing this. I have no experience in purchasing this way and unfortunately filed bankruptcy 6 years ago so I'm having a hard time with any bank investment.. any suggestions would be greatly appreciated..im willing to work on the proj3cts myself to get them where they need to be. the cash flow to get the projects done may come a month at a time until I can build a bigger savings but I have read a few threads on here about people starting with no experience at all in co struction or real estate and turning profits there first year...my issue is financing. any thoughts? is this tax sale with a signature and 12 no t hs to pay off back taxes true?