Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Mark Spivey

Mark Spivey has started 12 posts and replied 37 times.

I just wanted to update this thread with what happened after I completed the purchase of the SFH.

It turns out AZ passed something of an "anti-squatter" law a few years ago.  Basically, if you own a property and there are people living there without a lease, you do not need to use the standard eviction process.  A simple call to the local police department and the cops will show up, give them a few minutes to gather what they can & they will then force them to leave.

Even though I was legally entitled to do so, I didn't feel right about doing that to people out-of-the-blue, so I offered them the ability to stay for an additional two weeks and to assist in the transition, a cash payment of $1,000 (like a cash-for-keys transaction) to help them along and respect the property.  They grudgingly accepted.  Despite that fact that they were ex-felons, it seemed fine at first, but as we got closer to the deadline, they quit responding to my calls and texts.

Sure enough, when the day to leave had arrived, they still had a ton of junk that hadn't been removed, so I was forced to call the cops at that point.  It turned into a huge fiasco, but after a lot of screaming and wailing, they were finally gone.

In hind site, I would have used a process server to deal with them, because I was drawn into too much of their drama.  There were a lot more issues than what I wrote here, but it was a great lesson.

I'm finishing GC bids now and hope to start work on Monday.  I'm glad I didn't give them the money, because the reno is coming in about 40% over my initial budget, so I'm going to need to shave down our costs to realize a decent profit.

I am in the process of purchasing a SFH that has tenets in place (for years), but not in possession of a contract and have not paid their former landlord for a long time.

I was going to speak to them and even pay them to leave if necessary (cash for keys).  If they refuse to accept, do I need to file formal eviction process?

Does anyone have any tips or suggestions?

Thanks in advance!

Post: Fed Tax Lien Question

Mark SpiveyPosted
  • Phoenix, AZ
  • Posts 38
  • Votes 1

@Wayne Brooks @Les Sechler @Rich Baer

Thank you all so much for the responses, however I will admit I am more confused than ever. I had always heard that Fed Liens stick.  It looks like the previous owner ran a business out of the house and these are unpaid business taxes.

 I spoke with my investor agent who also discussed it with the title company and they said the liens would need to be paid.  Does anyone know of a good resource, where I can confirm AZ law is concordant with what Wayne and Rich said?

Post: Fed Tax Lien Question

Mark SpiveyPosted
  • Phoenix, AZ
  • Posts 38
  • Votes 1

@Account Closed Thanks John!  Are there any good ones recommended around here?

Post: Fed Tax Lien Question

Mark SpiveyPosted
  • Phoenix, AZ
  • Posts 38
  • Votes 1

Hello Everyone!

I'm planning on bidding on my first property at auction soon and started doing a recorders office search on the title.

It looks like there are some hefty Federal tax liens that were filed on the same day about a year ago. One is a "1040" type (under "kind of tax" column) for $20k & the other is "CIVP" type for $21k.

I'm wondering if its a total of $41k or if its a kind of duplicate filing.  I don't have much experience with title searches. I'm guessing the 1040 one is for personal income taxes and when I googled the "CIVP" one it looks like it just means civil proceedings.  I'm not really sure.

Would these will go away after auction?   I know federal stuff usually doesn't, but I really don't know a lot? Think I can get them dismissed? Does it make sense to pay for a professional title search on this?

Thanks for any advice you might have!

Post: Marketing to bankrupcy

Mark SpiveyPosted
  • Phoenix, AZ
  • Posts 38
  • Votes 1

Thanks @Jim Keller, but I was wasn't targeting bankruptcy, I just don't know how to handle a seller that is about to file bankruptcy or has already filed bankruptcy.  I'm driving for dollars and I know there are a lot of potential legal issues when dealing with this demographic.

Can I buy their house before the bankruptcy has been discharged?  Can I get in trouble for simply trying to work with the homeowner in this position?

If you or anyone else knows of a resource that explains the ins & outs of trying to work a deal for sellers around bankruptcy, I would feel better about talking to these sellers.

Thanks again.

Post: Marketing to bankrupcy

Mark SpiveyPosted
  • Phoenix, AZ
  • Posts 38
  • Votes 1

Hello everyone, I have started marketing in my area, but thought of a concern that I am not currently prepared for... What can I do if I find a motivated seller that has filed or is filing bankruptcy?

Are there any options?  I would like to find a solution where I can help the homeowner and get a deal, but I obviously don't want to violate any laws or get in trouble.

I would appreciate if anyone has any advice or can point me somewhere else that discusses this.

Thanks in advance!

Post: Two loans on one property - Possible Foreclosure

Mark SpiveyPosted
  • Phoenix, AZ
  • Posts 38
  • Votes 1

@Jennifer Kinzle OK, thanks for the nugget of info, I'm always looking for new ones :)

Post: Two loans on one property - Possible Foreclosure

Mark SpiveyPosted
  • Phoenix, AZ
  • Posts 38
  • Votes 1

@Jennifer Kinzle What is the 20% guideline?  Lender more likely to accept an offer that is more than 80% of current loan balance?

Hello everyone! I'm looking for a good real estate attorney that has experience with fix & flips in the Phoenix area to add to my team. I would appreciate any referrals! Thanks in advance!