All Forum Posts by: Dennis Weber

Well, Wayne Brooks is the expert here but I would suggest telling her ex thatif  he quit claims his interest in the house she will take over the second and it will be removed from him and increasing his credit score. Then she sells the house by owner financing it to someone at 10% ideally with 20% down. But be careful. With all that money she might dump you. :)

and owner finance at 10% with a nice down payment and she's set. 

@Jay Hinrichs @Don Konipol  thanks for responding guys!

@Chris Mason I would never discount information from Jay, the Oracle of Oregon. 

@Dave Van Horn  glad you responded. I bought this note from a company called PPR Note. Ever heard of them?

I will respond that a financial consideration would speed things up. 

@Jay Hinrichs yes, it's sent on behalf of title company

I received a letter from rsdoctrack.com stating that my second mortgage note was mistakenly recorded first by the county in 9/2002 and would like to sign a subordination agreement to make their first a first again. My question is will they be able to subordinate my loan eventually and I should just sign it?  Or is today my lucky day? The property is in NY is it matters. Their first is $300k and mine is $45k. Thanks!

Fuquan Bilal at NNGNote.com has a lot of free training about seconds on his website. He also has a program he does occasionally where you buy a pool of about 3or 4 notes from him and he holds your hand thru the process. I didn't join in but it sounded like a good idea.

 Property taxes are a county function (this is not true in a few larger cities). So there won't be any sales if everybody pays their property taxes. so, other than that, the answer is yes. The sales in WV are in Oct/Nov and are only held once a year. The list should come out in probably AugSept. Most counties, but not all, have their lists online. Another way, and I don't know if WV has them, is buying Over the Counter (OTC). These are certificates that weren't sold at the sale. If not OTC sales, then there could be surplus sales. Remember, theses are liens that weren't sold at the sale for one reason or another and could be worthless. People have been known to find real gems in these but gems are buried very deep and you have to spend a long time mining for them.

It's a real thing. But don't spend a lot of money on training programs, though.  The rules are very County specific and they don't train that.  In WV, interest rate is 12%. 18 month redemption. Is that going to make you rich? No. Is it better than the stock market?  Yes. However, I know a guy that was able to quit his nursing job after getting a few good properties from investing in WV tax liens. It's possible the same could happen to you. It's also possible it won't. Read the rules on the county website and decide if it's right for you. 

 Are you sure about that Stephen because who the heck would buy a Florida tax deed with a mortgage?

@John Underwood I think I would have been happy with half of the properties I received. I only seriously started investing in liens in 2015 after I learned as much as I could then developed my own strategy which gets me screamed at on BP when I tell it. For instance, they say never by a street. I bought a street that is the only entrance to an apartment complex and a major bank. They don't have easements so they can buy my street or build their own. Don't buy lot with gas tanks buried. Did it. But this lot is part of a working mini mart. Buy my lot or go out of business. And oh, you owe me for all the gasoline you pumped out of my tank. Okay, to be honest, I only bought those two to have fun. They are both in the middle of negotiations right now and I may get surprises. I tell you about those to say that I don't drive past the properties. We only have tax sales once a year so there are thousands of liens to look thru. If the photos online on Google, Bing, or GIS are not new enough I pass up or bid only land value. I'm buying in volume so one mistake doesn't hurt me. Too early to say my strategy works but it looks like right now it does or I failed forward. In 2015, the Marion County tax sale wasn't too competitive so I got most of my properties for minimum bid. The 2016 sale was a little more competitive.