All Forum Posts by: Reuben Gathright

Have you tried looking for a list of properties with unpaid property taxes at your county office?  

The names associated with those properties could be considered motivated sellers!

Here is an online list for a WI county:

https://gis.co.sauk.wi.us/TaxDeedPropertiesForSale/

Networking with real estate agents in your area will put you in touch with their wholesale buyers.  Contact a high profile agent and tell them your intentions and offer a list of properties you own so they know you are the real deal. 

Additionally, you should consider listing on social media sites like Zillow, Facebook groups and Craigslist to build a network.  

In my own experience, organic advertising on my properties has helped me find the best investors and contacts.  

@Stanley Reader Assuming you are wanting to buy post-sale tax liens, each state has its own unique way of issuing tax liens or tax titles.  

Additionally, a sellers premium is typically added to post-sale tax liens which increases the price of an already risky investment (risk being no assurances you will hold deed to the property).  

As a result, the post-sale tax lien marketplace has not been organized into a single online portal.  I see this as a strength for the focused investor because it prevents institutional buyers from hording all the tax liens with block purchases.

ANSWER:  Rather than looking nationally, you should look local.  Many counties only sell their adjudicated or abandoned properties over the counter.  Visit each county office responsible for selling or managing unpaid property taxes to get the process started to take possession of them.  

For example, in Louisiana, I had to drive 60 miles to the Cameron Parish Assessor's office to get a list of adjudicated properties.  No such list exists anywhere online and it was filled with great outdoor properties that were then sold to local hunters at a major premium.  The real bargains are not always homes or online tax liens but rather those properties hidden in the tax rolls of the county next door!

@Cameron Dye Purchase a few abandoned Arkansas forest lands at the next Sheriff's Tax Sale and build a small portfolio.  It's amazing how many friends you can make if you offer prime hunting land for lease.

GOALS:

1) Research real estate law and learn how tax sales work in your home county

2) Establish a friendly relationship and respect for local law enforcement while registering and using their tax sale.

3) Learn first hand the importance of paying property taxes 

4 ) Build a First-hand Knowledge of Arkansas property owners who are in distress and willing to sell.

5) Understanding of modern GIS systems

6) Landownership

AVOID BUYING A HOME OR NICE CITY LAND, these are usually going to be redeemed and cost much more at auction when compared to remote forest lands in Arkansas.

Sure, there's more to it but for the experience and low investment costs... you will be hard pressed to find a better investment for the dollar at your age!

@Tyrell Rutledge I suggest contacting Hal Ruppert, if still alive, he would be over 90 years old now.  Ruppert owned over 400 properties in 2010.

@Marc Winter After confirming no one was home, if it were me then I would setup a few Walmart Tasco 8MP game cameras around the trailer and land to find out who is coming over there.  Security and intelligence about your next abandoned property purchase can help with future issues.

@Jonathan Williams I am inquiring about the status of your Quiet Title.  

Was a curator assigned to the defendant(s)?

Did you provide any certified mail receipts from pre-tax sale notices as exhibits in the Petition to quiet title?

You should consider working with a real estate attorney in your area on this matter.  Since this will be your primary residence, you will want the attorney to ensure all necessary precautions preventing potential former owners from trying to take back their land are taken care of.

@Felix Gutierrez You are best served buying property this way which is close to you.  You will need to travel and meet with the delinquent property owners often.  Do not forget to account for maintaining the property you bought.  Civic mowing liens are very costly.

Yes, this is a common course of action among tax deliquent property buyers but I have never been successful for the following reasons:

1) You have to research the deed to the property and ensure all owners are identified and sign the quit claim deed. 

2) Contact the IRS (or have a real estate lawyer do so) and find out if there are any outstanding federal tax liens on the property.

3) Contact the local county and city officials to get a list of all civic liens other than taxes due.  Often there will be mowing and even unpaid paving liens on distressed properties.  They are often the reason someone stops paying their property taxes.

In Louisiana, we enjoy buying properties at tax sale because all non-Federal liens and court judgements are removed upon expiration of the 3 year redemption period.  The liens and judgements are trasnsferred to the owners name as part of the closing process the tax deed owners initate.

Finally, you should indicate which city / state you are interested in so those professionals can offer advice.