All Forum Posts by: Robert Jenkins

Something i've been doing to find out if tax liens are present...

Here in LA the department of building and safety has a website which you can use the APN and find out if the taxes are current. Takes 2 minutes, but you'll have to find the equivalent for your area. Another option for REO's is to find the biggest REO broker in your area prove you're willing to make moves and they'll give you first look at all the new listings.

It's fenced and the damage does look minimal. From what i hear the city is maintaining the home.

Who would i go about nudging to have them posess it? Assessor? From what i've seen they have to owe 5 years back taxes before it will be auctioned off here in CA but not certain about that...also seen 3 years.

Oh and say i did pay the back taxes and fixed up the home..could i legally rent it out and have it be concidered my possession?

Ok so here is the deal.

A property is in a trust.

The home has been vacant for 3years and has fire damage.

The husband is dead and the wife is incompetent in a hospital.

There are 13k back taxes and haven't been paid in 3 years.

As far as i can tell and the neighbors know, no heirs.

Is there a way to become the owner of this property?

Seriously concidering adverse possession :D

She called and we spoke. I will call her saturday to follow up, but also wanted to get something in writing she can keep around to remeber me. Just her fathers (the deceased) address but she might be there more so since she also has to sell that address

What do you guys think as a follow up letter?

Dear Kathy,

I would like to extend my condolences to you and your family. I know the loss of a family member is always tough and now there is a ton of things that must be done in a short order of time.

I would also just like to remind you we are an investment group very interested in your fathers estate and real estate holdings on ------- Avenue in -------. I know you said he did have a will and that it must still go through probate proceedings but hopefully we can stay informed on the matter as we are ready to purchase at any point within the next thirty days.

Sincerely yours,

Robert Jenkins

So i sent out yellow letters monday, got a call wednesday. The owner i mailed the letter to died, the daughter is the one that called me, she's out of town about 45minutes - 1hour away from where i live. The owner just died a few days ago and she said the whole reason he owned the home was to pass it on to her so she could sell it. The funeral was today and i didn't want to call her and try to get into specifics and ideas of time frames and prices, but when would you call? What would you do? The home is currently rented and owned free and clear but somewhat run down.

Realistic Sellers.

Guts-Money-Buyers (will all come with a realistic seller letting their property go at the right price)

I'm a newbie looking for my first deal, but i have started to send out probably 20 Yellow Letters a day. 1000 generic flyers a month, and i drive properties constantly.

I have great credit, and family friends who said they might get involved with the right property for money support, but nothing for certain.

My goal is to rehab propeties and build up a nice nest egg, eventually moving to buy and hold, than moving on to 1031 and commercial properties. If i have to wholesale my first couple good deals though i will.

With the couple meetings i've had none have been realistic.

So i was researching where to pick up probate leads, and since i was at the court house i checked into it also but the guard and clerk at the counter didn't know. So i check up on the website for Los Angeles and this is what i got.

Q: Where can I check if a probate action has been filed?
A: With the decedent's full name and date of death you can call the Index section at 213-974-5171 or 5175. If a case has been opened in Los Angeles County, the index section will give you a case number and can tell you in which district the case is pending. With that case number, you can view the file where it is located.

Q: Where is the list for probate properties that are for sale?
A: There is no list. However, posting for upcoming petitions in the Central District can be found on the 1st Floor of the Stanley Mosk Courthouse. Each Courthouse has a posting area of their upcoming petitions as well.

Q: Does the Court provide a list of probated property?
A: The Court does not provide such a list.

So how do i get a general list of real estate that's in probate or recently transferred?

If you're going to Buy and Hold...no reason to go for hard money. As someone stated earlier banks will loan contruction costs but if you've got 40K in your 401k and you're looking to to purchase around the 100k mark you should have enough money to handle it on your own with conventional finances.

With that being said, WHY WOULD YOU DO CONVENTIONAL FINANCES?? Find an owner who can carry the note, find a Private money partner who can help you build up properties faster, see if there is something you can take subject to or get at a steep discount.