All Forum Posts by: David Mitzan

A true buyer has established relationships with there sources. NPN AND REO either sfr, th, and condos via npn spl and or REO in bulk is ONLY advantageous if you have a custodian to board the assets. A service company to collect the monies and submit letters, stating the NEW title holder in which the asset has been assigned to has been bought. The new note holder in layman terms. The key is to reposition the note. That can be from modification, cash for keys and or foreclosure. Modification of notes seasoned after 6 months minimally preferable 12 months can be sold off in bulk from 70 plus cents. Once a note is performing. You can continue to collect your monthly minimal interest payment.

The note holder (Fund)  can sell performing notes on the secondary market to REITS, Equity funds holding companies and or smaller companies to build a portfolio. (6-12) months of performing. The longer the note is performing the worth s greater

Pricing can be anywhere from 70 cents to par. Contingent on geographic area. Valuation and many other factors.

The goal is to reposition the note. Option two is cash for keys and or foreclose (REO).

I have kept this simple for the laymen. I am a consultant for a fund. I enjoy it and its a pleasure working with several thousand assets based on my funds ability to consummate trades after building relationships for 30 years...

Not a problem. Contingent on the State as well as county, I can explain quickly. Tax deed is when you actually bid on the deed of property. If you are the high bidder, you get the deed. You do not get clean title. A quit title suit as to be done and or hold onto that property for up to 4 years before you can get clean title and is insurable.

A tax certificate is paying for the property taxes for the prior year. Tax certificates pay an interest rate. You start off on a fix price the state offers. Fl is 18% for example. If many bidders want that specific certificate, you bid down the interest. There is a hold time on certificates.

After the hold time, since there are alot variables, you bring it to the county. The county has to notify all people that have an interest on that property. Banks included if there is a note on the property. Municipal and federal liens stay on the deed. This will consist of certified letters and advertising in the local newspaper. typically 2 weeks before a sale. I hope that helps.

Tax certificates or Tax deeds? I personally concentrate on tax deeds. Make sure you do your homework. Municipality and federal liens stay on the deed.

Good luck. There is ample information for free on google. Narrow your search on exactly what your goals are. I use to spend 10 hrs a day on it. It payed off. :)

O/E can cost as low as 35$ in bulk. Typically 10 or more.