All Forum Posts by: C & J Metzger

Joshua,
Attic fans are simply a fan with a thermostat that cycles it on when the attic temperature reaches a specified temperature. To blow the hot air out of a vent from the attic. By pulling the hot air out of the attic, they help to keep the home cooler. I grew up in a two story home with one. As long as it is installed correctly, and maintenanced every year or so to make sure the wires aren't bare and the fan is functioning properly there should be no problem. If used properly it can help cut down on a/c costs.
:)

Bob,
Good question, I am very new to this site and have never done any wholesaling. However my husband & I have gone to several tax deed auctions. It sounds like the property you are looking at is on one of these. If so a word of warning. Most homes or properties that have a mortgage held by a bank will be redeemed on the last day before the auction. I myself had looked at 2 or 3 homes that had DEUTSCHE Bank National Company as the trustee & they have never let one of their properties go to auction that I have seen. It sounds like they are the mortgage holder on this property. Are you sure you want to deal with the back taxes & back owed mortgage also? They will not want to let it go to auction or they loose out all around. They can pay off the taxes at the last minute, and start the foreclosure process (if they are not already in it). They may take a small loss, but not as much as letting it go to auction. Also if you are still serious on getting it you will need to do a few things.

1) Check the rules of the auction. Some counties will not allow a short sale before the auction. If that is the case, chances are the property may never make it to the auction due to the mortgage company paying the taxes at the last minute.
2) Do your due diligence!!!!! Make sure there are no other liens or encumbrances. Many times that is why the owner is not paying taxes. An attempt to get out of the judgments. Thinking they are only on the property, not themselves.
]3) IF all goes well, you will then want to contact the party who is delinquent on their taxes and see if they would be willing to sell you the property before the auction. You'd be surprised, I've seen people walk away from properties when offered $5,000.00 or less, but that's the EXCEPTION not the rule.

Also remember once it goes to auction. The highest bidder will get title by a Quit Claim Deed. You'll have to jump through additional hoops to get an actual Title Deed. There will probably also be a redemption period. Some counties it could be a year or more.
Good luck :cool:

My husband John & I are very new to this type of thing and not sure what to do. We are however looking forward to learning & sharing great information!

We have started down the road of real estate investment by starting a LLC & purchasing 7 parcels of land in the Pocono's from a tax deed auction. We are hopeful that as we learn how to sell them we can slowly but surely continue to grow our knowledge, and maybe retire from our "day jobs" some day.

We are not the most computer literate, but are trying to learn!! What we lack in experience we gain in enthusiasm. Again, we are looking forward to meeting everyone.
Cindi.