All Forum Posts by: Sean H.

@Juan Maldonado It was me, we spoke earlier this year.  My email/phone number is still the same if you want to catch up.  Looks like you're still doing big things!

@Juan Maldonado 

Saw this on my linkedin today...Congratulations!

http://finance.yahoo.com/news/jason-cohen-pittsburgh-acquires-47-173000571.html

I just took a free course at coursera (https://class.coursera.org/successfulnegotiation-001).  It modeled "getting to yes" but the video/forum interaction was helpful.

Here's another article that keeps in line with the developments of AI theme..

http://www.homefreeamerica.us/future-work-turking-...

This article takes the view of massive disruption to the current work environment, but even if its only 50%, 25% or 10% true, there will be a large disruption to many different aspects of the economy as we know it.  What are some ways that an individual could capitalize on it?

Thanks Jon!

Correct me if I am wrong, but wasn't the major revitalization in Lawrenceville driven by the Children's hospital?  Would it take another major project like that to significantly change an area like Mt. Oliver/Carrick? 

What areas would you recommend to take advantage of the fracking boom?

@Steve Babiak Not really sure what to expect when I look at these properties to be frank.  I got interested seeing that I could potentially scoop up houses for pennies on the dollar, so I wanted to understand more about the process.  

As I expected, there is a lot more to it than just paying $6000 for a $150,000 property.  This seems to be especially true in Pennsylvania.  

I saw the list in today's paper and wanted to see how feasible it would be.  I'm over in Johnstown, so the Saturday would be best, but I'll actually be near Hershey for a wedding all day, so I doubt I could make it.  Thanks for answering my questions though.  

Well this was definitely enlightening, thanks @David Krulac and @Steve Babiak and everyone else for your insights.  

I want to restate the process so that I am clear in my own mind about the process, the potential hurdles involved, and 

1.  The list is released for my county in PA for an upset sale.  I should identify the properties I would be interested in purchasing.  I would then do a physical inspection of the property to the fullest extent possible.  

2.  Of the properties that remain, I would perform a title search on them to identify any other liens or judgments that may be present.  What does a title company charge to perform these searches and what is the turnaround?  Suppose I found mortgages or a federal tax lien on the property, is this a deal killer?  Does it just depend on the particular properties value less the payoff?  

Let's say I acquire a property for a $5,000 tax payoff and there is a $50,000 mortgage, but the property is worth $100,000. When do I have to pay off the mortgage, when I acquire it on at the tax sale or when I sell the property?

3.  I now have a list of properties that I want to buy, appear to be in good physical condition, and I have full knowledge of the potential title issues that could exist.  

4.  I go to the tax sale in September.  Do I have to pay the full amount of the tax lien?  David mentioned different states perform the auctions in different ways, how does PA do it?  Specifically Cambria county?  

5. I purchase one tax lien.  Do I immediately receive the tax deed and I am the owner of the property?  If I do not receive the deed immediately, can I still begin to evict/deal with the occupants?

What needs to be done with the deed to make sure that it is transferable to a buyer who may get a mortgage on the property? 

I'm sure more questions will come up, but thanks for all of the help!