All Forum Posts by: Matt Whiteside

I  almost exclusively market to tax delinquent properties. I have found the most motivated sellers this way. I get all the info I need form the county recorders office, first figure out the redemption period and work back form there.

I've had success listing on the mls.

Sorry what I meant was after the final redemption date has passed the lien holder who at that time can petition for the deed decides that they don't want to, is there a specific time period in which they have to do so?

So what if the lien holder decides that they don't want the property and never apply for the deed? Does the original property owner retain ownership? Can they sell the property?

It's been awhile since I updated this post, a lot happened with this property. I will try to give a brief rundown of how things transpired.

Mother of squatter dragged me into court 5 times even after they were evicted, they tried everything just to be pains in the A. Finally the judge put an end to it.

Got the house listed and had interest, buyer backed out then found another, the problem was now the county came out to respond to a code violation, it was determined that there was no septic system on the property. Guess who made that call, that's right the squatter. The house was now condemned until the septic was dealt with. Buyer backed out two day's before the taxes needed to be redeemed. Tried calling and writing to the lien holder seeing if he would extend the redemption time, never responded. Deal gone, or so I thought.

There were two lots next door to the property that were being auctioned off by the county, called the company that was handling the auction found out that nobody bid on them. They were still available for $500, so I sent them a check and got the deed in 90 days.

Also got a call from the tax lien investor last week and asked if I was interested in the property. I said let me think about it, called the county and asked about the septic and what was needed there and what kind of space would be needed. Found out that the lot that the house sits on is 40x100 my two lots are 80x100 and that they didn't think there was room on the 40x100 lot to put in a septic and have it be far enough away from the well. So it looks like the tax lien investor is kind of stuck with out my lots. There is no way he can fix up that house and sell it with out buying my land.

So I am going to call them back and see what we can do, I knew buying those lots would lead them to call me, hopefully I can still make some good money on this nightmare of property.

I will let you all know how it finally ends.

Welcome

@Karis Campbell

The property was actually in Illinois the owner lived in Kentucky. I have had some more success with Tax lien lien marketing, I guess I should maybe post about the couple of deals I did.

Good luck

Matt

@Nuhan Demirkan

I have actually closed my first two wholesale deals by listing them on the MLS. I also contacted the local MLS and found that I could advertise my "future rights" in the property. I used an option to control the properties and then just assigned the optiions. As long as your seller is ok with it and the local MLS is ok with it, I don't see a problem. For people starting out that don't have a huge buyers list, what better way than getting your deal out there and having a few million people seeing it.

My wife is my agent so I am only paying out the buyers agent commission.

I also found cash buyers to ad to my list as a result of them seeing my deals on the MLS. My wife also got some new clients out of it as well, so it has worked out well for me so far.

@Joy Cooper

Why wait until the tax property auction. Check with your county treasurer or recorders office and ask for list of properties ( granted it probably won't be that easy, you will have to do some research but the info is out there) that have unpaid taxes and market to the home owners well before the auction. These are motivated homeowners, many who have houses that are free and clear except for the taxes.

Deborah Saddler I created it myself by using my county recorder's website.