All Forum Posts by: Account Closed

@Dennis Weber Awesome! So even if the lien is sold at the tax sale the owner has time to pay the taxes or sell the property. Thanx a bunch!

@Dennis Weber Tax liens are for taxes due on the property correct? 

If thats the case is it possible for the owner to sale the property before tax sale? 

I am interested in wholesaling properties that are headed to tax sale. In the process of buying the house the taxes are prorated against the sale amount paying the taxes due and leaving the owner with some cash.

Also is there any difference of a tax lien certificate state vs a tax deed state? And which is Indiana?

I know the tax deed it the immediate sale of the property vs a tax lien certificate is the amount of the taxes plus a percentage giving to owner time to pay back.

@Nick Foundas I believe the mail is routed to the owners current address provided the owner put in a change of address with the post office. I personally don't know for sure as I have yet to mail a campaign but a friend of mine who recently got his first deal said thats how it works. Even as I farm for vacants I come across some fire damaged properties with the same address for the owner and I'm pretty sure mail isn't delivered there. I guess the way to know for sure would be to set up a p.o. box and put it as the return address on your mailers.

I got this list through my county's website. It seems to be a list of code violations because you can search for many things like infrastructure violations and weed/ grass. It shows up to today's date of addresses that have violations. I'm trying to figure out how I should go about logging the addresses to send mailers.

What I'm doing now is just going through a year back and seeing if there is any new transactions on the property from the report card. If there isnt I log it. 

What is a vacant board order? I'm trying to build my own list for mailers and from my county website I found a list of violations tagged "vacant board order". My assumption is this is a list of houses that have been reported vacant? When I go though the list I find so houses that are currently vacant because I have farmed the area and already have it listed and then some that are not vacant. How reliable is this list to build from?

How can you tell if they are in Pre-Forelosure or not? and would it be just like any other wholesale deal by getting the house under contract through the owner? How would that work with a mortgage on the house? Forgive me if these are elementary questions. I'm a total noob.

Yeah I kind of figured. I guess it would be useful if I had access to hard or private money to do the flip myself. I really want to start with wholesaling to build a buyers/sellers list and connect with those that are doing the type of flips I'm into. Thanks for the input!

So I'm looking to enter into real estate investing through wholesaling. My goal is to wholesale to gain "skin in the game" and network with buyers and rehabers to eventually switch to flipping as my main gig. I've started driving for dollars and searching for owners online to reach out to. While searching online I came across renew Indianapolis that is a land bank of a lot of the abandon houses in Indy. The prices they have set on their list of home range from 2-10k and the list has 900+ properties on it.

https://www.renewindianapolis.org/map/search_property/

According to the renew program policies these houses can be bought, renovated and put up for sale or rented. 

So I'm wondering how could I get one of these houses under contract to wholesale? 

On one of the houses from the list I pulled comps around 65k. They have to house listed at 2k and say the closing cost is 800 including title search.  This price is well into the 70% rule for a flipper and I could still make a fee from wholesaling it. The only real problem I see is getting approved for the program as a wholesaler. I can't show the funds of being able to buy and renovate the property needed to be approved. The only thing I could think of is referring a flipper to a certain property to flip and maybe collect a finders fee? I don't know. thoughts?

@Mike Cumbie,

Good idea. It would be like owning a REI guru company! Selling false hopes!