All Forum Posts by: Rob Dold

Hi Peter.  

Thanks for the advice and the great article.  Lots to think about to make sure the needed protections are in place.

Hugely appreciate it.

BiggerPockets community - 

I'm coming across a situation that's a first for me and was hoping that some of you more experienced investors could help me navigate through it.

The situation: I have an opportunity to purchase a 7-property bundle.  The seller bought the properties through a deed tax sale a few years ago and the county transferred title to them via quit claim deed.  The titles need to be quietened but the seller doesn’t have the money to do it right now.  He needs to the contract to close first so that he can use the proceeds from the sale to pay for quietening the title.  My agent says there is a local title company that is willing to issue a title insurance policy to support the close process (this would be before the title is quietened of course).  Ideally the title would be quietened before closing, but it seems like the seller isn't able to make this happen.

My questions: Would I be opening myself up to any undue risk by pursuing the deal under these circumstances?  Also, are there any creative ideas around how to minimize risk and/or generate some negotiating leverage here? 

Thank you all in advance for any advice you can share!

Rob  

@Sarah Hartwell

Hi Sarah. I was listening to a good BP podcast about short term rentals just this morning. Thought it may help answer some of your questions. Avery seemed very knowledgeable. It may even be worth reaching out to her and seeing if she can answer some of your questions. Here’s the link.

https://podcasts.apple.com/us/podcast/biggerpockets-real-estate-podcast/id594419649?i=1000461989025

@Tommy Brant

That’s awesome Tommy. Congrats!

Which suburb was your project in? I live in Nashville near Vandy and have invested in the North Nashville area. So always interested in hearing where others are investing.

@Destiny Bullington

Hi Destiny. I live in Nashville and invest across the state. Would love to connect and see if there are any partnership opportunities.

@Bruce Lynn  Hi Bruce.  I really appreciate your insights and clarification between the title search and lien search. This whole world of tax deed investing is new to me so this is very helpful.  

@Chris Seveney - Thanks for the insights Chris.  Appreciate the help!

@Ron Flatt Jr

@Ned Carey

@Alecia Bolton

@Jamie Bateman

Thanks for your comments all. Your comments have been very helpful. I’m planning on investing in TN which is a redeemable tax deed state. The primary area of “concern” is around things like IRS liens and the likes that wouldn’t be wiped clean by the foreclosure.

Appreciate the referral and the advice!

Hi all.

Does anyone have a good referral for affordable title searches? I'm expanding into the world of tax lien/deed investing so will need to be conducting title searches on a regular basis.  One title company I reached out to charges $120 per title search.  Wondering if this is about right in terms of cost or whether there are other more affordable companies out there.  

Any input or referrals would be hugely appreciated!

Thanks, Rob