All Forum Posts by: Dennis Weber

Welcome @Faye Sikora to Bigger Pockets!

I'm a new note holder and plan on diving into the NP world soon. Connect with some big players in notes here on BP. 

@Stuart Drake you are only responsible for subsequent taxes. 

@Stuart Drake

@Tricia O'Brien

Oh no, I wish you got a clear title.  That would be nice. You still have to quiet the title when you get the deed. And my lawyer told me that a bank won't loan on the house for ten years. You have to sell it for cash or on a land contract. 

You have to prove that you have notified all interested parties (owner, bank and any other lien holders) or things will not go in your favor. That's why it's best to hire an attorney. 

Indiana, as in all states, are either lien or deed states (except Florida and maybe another).  But all counties are done by state laws. All counties in IN are lien. 

Google <your county>GIS

Marion (Indianapolis), Bartholomew, Owen, Johnson, & Hendricks.  I like Marion Co because they have thousands of liens and they take care of the notifications and title.  The other counties you have to hire an attorney and a title company before 6 months costing close to $1k.

I got a property from a Commissioners Sale once.  Cost $49 and sold for $6k.  But that was a hidden gem.  Commisioners sales should be coming up around Feb.. SRI has the dates and a list of the properties.

It was kind of strange opening up the paper this morning and finding myself in a photo (the guy in the blue shirt behind the guy with his bid card up} blaming the Marion Co tax sale investors for the blighted communities in Indianapolis.

I think the article makes some good points, though.  A vacant house that goes to sale time and time again and stays vacant for 5-10 years is not worth it for anyone.  Maybe a large city should sell deeds, instead.

http://www.indystar.com/longform/news/2015/11/14/b...

@Tricia O'Brien

I believe there is only one county in Indiana that has tax lien sales online. The rest you'll have to show up in person in October. SRI tax sale.com has the dates. Iowa has a few counties thru SRI in June (24%) online. 18 month redemption. I like Indiana's 12 month redemption. 

@Dion DePaoli  Thanks for this!

@Ned Carey  yes, unfortunate name. Probably a marketing ploy. He really doesn't claim that it's risk free. I wouldn't have recommended it if he had. It includes due diligence before the auction.  He has a link to his website with useful information.  I don't know, I thought it was helpful but I was glad I read the other book first. 

One can learn a lot on Bigger Pockets but it's nice to have all the information on all the states in a book. I just bought 19 certificates so I'll have to wait a year to see if the books helped me succeed or not. 

@Autumn Alexander  All states are different but I was going to tell you that you don't stand a chance in getting that 500k property. Au contraire. I found out. Some states have pretty crazy procedures for tax liens sales and yours is one of them. In KY, they are called  certificates of delinquency. First to bid tax amount is the bid method. But you got to read this to understand how that works. 

http://revenue.ky.gov/NR/rdonlyres/C76FBDBD-9950-4...

I'm not sure what list you are referring to but your sale isn't until August. So the list won't be out until June or July. 

Hopefully someone that has bought KY tax liens will give you more information.