All Forum Posts by: Account Closed

Thank you Kevin and Jessica. So basically there are liens that will always take super senior position over 1st mortgage and those would be Tax lien, IRS Tax lien, Child Support, HOA lien and I have to pay those even if I buy the 1st mortgage. Interesting.

On title search, would all of these involuntary liens show up on the county clerk online record or would you recommend that I have to hire title company? while its true that it will save me big money in the long run by avoiding a house with liens,  If I have about 5 properties searched, that will still run me like 500-1000 just on research.

I am trying to understand the process of Sheriff Sale for Bergen County, NJ (judial foreclosure). After calling Sheriff's office and talking to real estate professionals, they state that all liens (excluding tax liens and IRS liesn ) below the 1st position get cleared.

Is this really the case in NJ? I hear several other points stating that you are still responsible for paying all encumbrance and all liens regardless of 1st lien position.

What is the correct answer?

Thanks Rick. Sounds like a great suggestion. 

Hi I'm an new to Bigger Pocket and I have recently purchased a small multifamily in Northern Jersey where I currently reside. For my next property, I am thinking about doing fix and hold or fix and selly. I am curious to know where I can usually find good properties to rehab and flip. Should I look in the auction sites?

Also Am I expected to have full cash for most of flip deals? One private lender told me I need 40% equity for privating money lending.