All Forum Posts by: Jeremy England

Mine was dumb luck in 2007. Didn't know jack about ARV's, and what nots. I bought a house I thought was cheap (30k) then rehabbed it. I was in the construction business at the time so I just dove right in and didn't even do any real analysis.

bought it for 30k, put 30k into it, then rented it for 700/mo, refinanced and got my money back out.

 A year later I sold for 85k.  

I got out of the business for about a decade after the crash and just recently started to make some offers again.  Tough time to be getting back in though.  Prices are high,  subs want too much, haven't found any properties yet that I believe were  a deal.  

Looks like a good deal if you plan on living there.  Its not a BAD deal if you don't plan on living there you'll just have to figure another way to pay for it.  

If you are both on the mortgage, both incomes can be counted.  If its just you, then only your income.  

Also keep in mind your closing costs. The VA funding fee is going to be about 10g with this loan.

After reading what @Account Closed posted, you may be right brett.  

I'm not sure about that one.  I mean, why else would the lien be recorded in the county, same place the property is.  If that were the case, wouldn't it just be between the IRS and home owner in federal court, not involving the county?  

I was always told federal tax liens survive the foreclosure.  I could most definitely be wrong however.  

Thanks for the link, i'll check it out

So i'm researching properties to buy at the county foreclosure auction.  I came upon one that looked promising (like 40k difference in lender's max bid and value) but when I searched the title I found like 35k in federal tax liens.  

So is this a deal breaker for most of you?  Is there a method of negotiating these liens down?  

Not going to move on this one but I'd like to know for future reference

Great work matt.  Looks good.  

I downloaded a list of all tax delinquent property owners in my county from the tax assessors office.  It was over 21000 rows long.  Im looking for owners delinquent on their taxes with sfr valued between 70 and 180k.  

I deleted all rows with likely commercial properties (hwys, blvds, etc),

Which years are best to include? because there are some on the data set from the 1990's.  For my parse I deleted all rows except delinquents owed from 2016 and 2015.  

Then deleted all corporate owned properties with LLC, Corp, Inc etc text in the row

Then deleted all rows that owed less than 500 dollars and all rows that owed more than 5000.  Is that a good range?

Then deleted all assessed values under 50000 and all above 140000 (this would put likely market values between 70 and 180k)

Then deleted duplicates.

I was left with 843 addresses and owner names.  

Can anyone tell me if I should include some of the deleted parameters.  Or if i'm on the right track here.  new to direct mail marketing.  

Depends on how good of a deal you are getting.  If there is 5k more in repairs but you are already getting the place at 50pct discount, don't miss the forest for the trees.  

 I haven't read this entire thread but if this is multi family, I would probably use the cap rate method.

Net operating income/ required cap rate = value

NOI is calculated by taking the gross rents then deducting expenses (vacancy, property mgt, maintenance, cap ex, etc)