All Forum Posts by: Marissa Cowan

Mr. Carey thank you for your timely response. The pro tip about the two mailboxes and two doorbells is brilliant :). 

So it seems as if the city is wide open to find a good property. That is good news for me. I know in order to find a good property I need to drive pass the property at different times of the day and week to get a feel of the neighborhood. In addition I should inspect the property if I can ( check foundation for cracks, check roof damage, broken windows etc). Is there anything else I should check for in my mock inspection of the property?

If I buy a lien for approximately $1,000.00 and foreclose on it for about $3,000 is it safe to assume I will pay another $2,000 in back taxes (about two years) and another $1,000.00 in fines? So my approximate out of pocket expense will be about $7,000.00 for one lien? I'm only asking so I will know how much money I really should have to take a lien from delinquent to a recorded deed.

I would love to come see you speak on this topic in the spring. I will stay close to your posts on BP to ensure I do not miss it :).

Mr. Carey what zip codes or neighborhoods should I look to buy a left over tax lien? The only reason why I am purchasing a left over tax lien this year is because I do not understand the bidding process. I know I will only have enough money to purchase one lien during the tax sale anyway. I just want to get started. Is there a way to determine through the tax sale which properties are multifamily? I am aiming at only purchasing these types of properties so I can exit the rat race much earlier than expected. 

I know the process of foreclosing on a property through the tax sale will take up to a year and a half and during that time I will have to pay the property taxs, any back taxes and miscellaneous bills.  Is there a way for me to find out this information before I go and pay for a tax lien? Thank you. 

Finally I would like to come to the REIA you are apart of. Do you all have the dates set for 2018? Thank you!

Mr.F ernandez thank you for the information. I will need to go and scope out the area again.  I do remember saying to myself that every street seemed to be different. Some streets were good and some where bad. 

Good Afternoon BP family. I am looking at Baltimore City to buy my second buy and hold property. I will be purchasing a tax lien from the upcoming 2018 tax sale over the counter ( this is a way to get my feet wet). I have gone through the Pigtown section of Baltimore City and I have some questions. It appears as if the neighborhood has a lot of boarded up properties and the area seems run down HOWEVER it is right next door to the Ravens Stadium, Orioles Stadium, downtown, and MD University Baltimore. Location is everything in real estate as we all know however I wanted to know if I am missing something. The location is perfect however the neighborhoods are in horrible condition. If anyone has any advice about this area of Baltimore City I would greatly appreciate it. Thank you!

Mr. Carey THANK YOU so much for replying to my  message. I didn't go to get the left over booklet after the tax sale this year. All I have is the original posting of the tax sales the city made public. I decided I would just use that list instead of driving to Baltimore City to get the booklet of leftovers. When I called to inquire about the left over listings a lady told me they "might" have some more booklets but she could not say for sure if they had any. I live about 50 minutes away and I didn't see the need to drive down there for a booklet that "might" be available. If you think I should get it let me know and I will take off work to go and get it.

I want to make sure I understand a statement you made above. The day that I decide I want to go buy a tax lien and go to the office in Baltimore City, I don't actually buy the lien that day? Why do I come back on a later day to pay for the lien? Also why does the price change daily? I thought since I will be buying the tax lien over the counter I will be paying for the back taxes at face value. Is that not the case?

I am assuming also I need to bring a certified check from my  to the real estate office as well correct?

Hello All!! It has taken me some time to post to BiggerPockets but here I am!! :). I have a few questions about the tax lien process in Baltimore City and would like to glean from people who know the system. I am trying to buy my first tax lien properties over the counter for Baltimore City in the next couple of months. I wanted to know if anyone had some advice on finding a good property? I have looked at the tax lien list for 2017 and hopefully they still have some good properties left over. I am looking at areas that are close to hospitals or universities (yes I know that is broad but I haven't narrowed it down yet). I was looking for something close to John's Hopkins on E. 33rd St. I want to know if there is a way for me to inspect the house even though I am not allowed to go into it? I know I need to check for structural damage but my concern is purchasing a property that has severe problems on the inside I cannot see because I didn't get a chance to go inside before I purchased the lien.

Also I would like to know if I purchase a lien and find out the property has too much damage for me to fix, is there a way for me to sell it? I do not have a lot of cash right now so I am only trying to find properties that need cosmetic upgrades.

If anyone has a good tax sale lawyer to help me foreclose on the properties could you please leave their contact information, I would greatly appreciate it.

Any other information anyone has to offer about the tax lien process for Baltimore City (over the counter) would be greatly appreciated.

My main focus is to buy multi-family properties so that I can live a comfortable lifestyle and retire early. If anyone has any suggestions on purchasing multi-family properties as well please feel free to share the information. I greatly appreciate it. :)

Thank you all!!

Hello everyone :). This is my very first post on Bigger Pockets. This is such a fantastic forum with a wealth of knowledge. I wanted to know when the next meeting will be held? I am interested in buy and hold investment properties in Baltimore City (particularly through tax sale purchases). I have been reading a lot of posts from Mr. Ned Carey in particular in this subject. Hopefully I will be able to glean more information from him in the future.