All Forum Posts by: Elise Wharton

Hi @Minna Reid, yes it needs a full rehab which is why I’m interested but was also very confused by the wording. I agree with you that it sounds like they know someone that will finance it for me! Thanks for the help! 

What does “private financing available” mean under the Listing Terms section on the MLS. Does this mean seller financing? Property is listed as a short sale and I didn't think you could seller finance a short sale, so I'm assuming it means "get a private lender", but I haven't seen it worded like that before. Anyone know?

Hi @Nicholas L., by "post" I meant "listing" on the MLS. So instead of flipping and selling the house, I was hoping I could rehab it to live in it as my primary. Then refinance into a conventional loan to pay off the private lender. If a 203k was allowed I would do that, but the listing doesn't give that option. It says cash or private offers only. So bottom line, my question is "can I refinance a private loan into a conventional loan for a primary address?"
Does that make more sense or am I still not explaining my question well? 

Hey guys! Does it make sense to look for a private lender if you want a home that needs a full rehab as your primary residence and the post says cash or private only? After rehab, if it appraised well, I would refinance it into a conventional right? Or am I missing some crucial steps/it’s not that easy? 

Anyone know anything about Windsor Mill, MD? Specifically the Johnnycake area? I'm looking to buy my first primary, but I made the mistake of renting in Columbia, MD first, so I am spoiled by low crime and pretty trees, but I can't afford it here right now lol. 

If a tax lien does go to foreclosure doesn’t your bid go to the owner and the HBP goes to the county….or am I wayyyy off? That way at least the owner gets something, especially if people bid high? 

Was Saint Mary’s live so you could see what others were bidding? Howard is just an excel sheet that you submit

@Ned Carey wooooooo I won nothing but knowledge, but I'll take that and try again at a different tax sale lol. Do you only do Baltimore City? I was trying to research what the most a least competitive counties are but I can't find anything really. I also want to see what bids people made for the properties I wanted but the winning list isn't out yet. How long do those usually take?

Hi @Ned Carey! I am actually bidding with Howard County because I know the area pretty well. They have you place a budget. I don't have an LLC yet, but if I end up liking the tax lien game then I will definitely look into one sooner than I originally intended. Allegedly most tax lien sales don't end in foreclosures, but if I win and it gets that far, I am mostly looking at places where the home isn't the primary residence. I haven't figured out where my conscious lies with tax liens yet so for some reason it makes me feel better to foreclose on someone's investment property instead of their primary. Not sure if that is logical or not lol.

It's official my people! I have a bidder number for my first tax lien sale!! I am going in light footed because I kind of just want to learn the process right now, but I have done a good amount of research. Between podcasts, forum posts, property searches, court records, and YouTube, I feel pretty good going into this. The only two things I haven't been able to find info on are: 1). Do these people know your real name/has anyone ever been threatened by the people you bought a lien from, and 2). If you bid on multiple properties, do you only win up to the amount of properties that you have a budget for? I plan to bid on more than I actually want, but that's because I don't believe I'll win most of them. Or is that bad to do? I meant to ask Ned Carey because I have noticed he is the go to Maryland tax lien guy, but I can't tag him because we aren't a  connection yet.