All Forum Posts by: Lynn Henley

I'm trying to tie up a property long enough to either find private money, so I can close myself, or quick resell to an end buyer.

What are the advantages and disadvantages with tieing up properties using either an "Option" or a "Purchase and Sale Agreement". I know you are not actually obligaged to purchase the property, if you use an Option, but do sellers back-track when you present them with an Option?

How long do you try to tie it up with an Option?

If you use a "Purchase and Sale Agreement", how for out do you say you'll close? Do you the typical weisal clauses (property or title inspection, partner approval, etc)?

Thanks,

Lynn (FL)

Maybe. What Chuck Smith course do you have? What are you looking for?

Lynn

Will,

Yes, everything on the state list was not bid on. Most of what I've looked at on the AL list was junk, so be careful. There's a reason someone didn't bid on it.

I believe the 3 years starts at the time the lien was issued to the state. In FL, the tax lien for tax year 2010 would have been issued in 2011, and 2014 would be the year you can apply for the deed. You can check with the Baldwin County Tax Collector to be sure.

Lynn

Ned,

Thanks for the info. Do you have a letter you send when soliciting for a purchase? If so, could you send me a copy?

When purchasing, the price is negotiable, based on what the lien holder wants out of it?

Do you have any liens in FL, AL or MS you want to sell?

Lynn (FL)

Will,

That means the taxes of $350 were not paid that year.

In AL, you purchase the lien certificate, and after 3 years, if the owner has not paid them, you get the deed. Problem is with condo's sometimes, the HOA has a lien, also.

I'm in NW FL, so let me know if I can help.

Lynn (FL)

Mr. Jones.

Is this the same as what Rick Dawson (Deedgrabber) does?

Lynn

Has anyone ever purchased a Tax Lien from the winning bidder? If so, how did you approach them (letter, phone call, etc)?

How much did you pay for the lien (face value + interest or a discount)?

Thanks,

Lynn (FL)

In my research of county owned Tax Liens, I've found a couple that are for the common area of a sub-division (lake and park), and a townhouse community (street and parking lot).

If I purchased the lien, and then ended up the the deed, could I say block access for the residents if they didn't pay me for my time, expense and some profit?

Would this be one of those "sorry-good for nothing-unethical-underhanded, etc" ways of real estate investing?

Thanks,

Lynn (FL)

You could bring in a partner, who funds the deals, and you split the profits with them.

Lynn (FL)

In a nutshell...

1. Tie up the property.
2. Negotiate with the bank.
3. Assign to a "C" buyer for a fee.

Lynn