All Forum Posts by: Eva Marin

hi guys!
thanks for the reply!

Sherry: there is any particlar county that you recommeded?
what do you look at when you purchase them, certificate year, face amount, deed situation, homestead exemption?

also do you buy tax liens on houses/ residential or on vacan land?

i already open and account. It is very easy to set up.

Any advice will be great!
thanks
Eva

hi!

i am looking to tax lien certificates as an investment and how to get them online.
anyone here has used realauction.com.

looks like they are the one conducting most of the tax lien sales online.

Have anyone here used before? any pros and cons?

i am thinking about opening an account with them, but not sure yet, want to hear some opinins here first..:)

thanks,

thank you so much!! all your comments are very helpfull!

@ Jon : yes, i can afford the payments, so it is ok at this point.

I think based on what you guys said the most important point is to make sure that the deal or delas i am getting into give me
a return of 7% or more otherwise i will be loosing money.

There is not fee involved in the application..that's good.
Capital one who is the bank offering me this loan.

Thanks, really appreciated your replies guys! :)

hi everyone!!

i got a credit card that offer me bet 10-25k loan (unsecure personal loan ) at 7% interest rate to pay back for a period bet 4 to 6 years. A 25k loan @7% -Montly payments will be bet 450-550.

Do you think this is good way to get some money to get involve in buying and flipping properties with other investors?
or for any other investment opportunity.

Any opinion about pros and cons will be great!!

Thanks
Eva

yeah!! sound like a very clean in and out process.

Adrian, few more questions:

do you use a lawyer for any of this?

and one more question because i am confuse in this step.

Let's say that you pay all the tax liens and get the deed of the property, then the county conduct a deed sale, which will notify at the owner of the land, and other people and will be in the newspaper.

at the auction: if someone bid on and win the prop, how much money you get? remember at this point you pay between tax prop, bills, deed feet with the county and all that probably let's say 800 dollars.

let's say the winner at the aution bid for 1400 dollars, so you pass the deed to the winner person, and get the 1400 for a profit of 600, That's the case?

maybe i am mixing things here...HELP PLEASE!!

no Jack,
just go to the NYC real estate institute and look for the courses section, it should be there..:)

it is on Oct 8 and 9 (2 days.

:) See ya

Thanks adrian,

One more question: Do you do a title search on the prop, before or after you buy the tax deed? and do you do what is call a quiet title after obtaining the deed?

Sorry, but there is a lot to learn here and it seems that your system works for you pretty well, so any advise is great!

:)

Hi Manny,
i found this article writting by Justin pierce on his blog here very helpfull.

:)

http://www.biggerpockets.com/renewsblog/2009/09/13/rehabbers-costs-flip-house/

Adrian,

About what you said before, when you file the deed application after paying all the back taxes of the property (tax properties taxes + sewer +water bills) you get the deed but you do not get the property. In order to get the property you have to follow the foreclosure procedure whatever it is for that particular county after the redemption time pass (2 years in some cases)?
I am right here or not?

So, what you do here is: you go to the sheriff sale or deed sales auction conducted by the county and you sale your deed to another investor that is going now after paying you for it execute the foreclosure process to really get the property finally.

Please can you clarify this for me?

And also on the county sale you are the first person to have right to buy really the property because the deed is on your name, but I guess you rather to sale the deed you own to another investor and not get involved in the foreclosure process which might take months and more money to get it done.

Am following you here or not?

Thanks guys for all the posts here, they really help to get a better picture of how tax liens and deeds work.

And thank you very much adrian,
EM

Hi Jack

the new york real estate institute here in manhattan have a seminar on october 8 and 9 on tax liens and tax dees investmentas, the cost is 49 and you can bring a guess.

i am already signed up. Maybe will see you there.
Also few NJ counties are having their tax lien sales on october as well.

EM