All Forum Posts by: Talbert Floyd

Great advice guys! I did have a partner (who is not in real estate) for a recent deal, however, he backed and wants to wait for this covid crisis pass. I guess I can't blame him. I will press on. Thanks

I have been out of real estate since the 2008 crisis and I am currently struggling to get back in the game. I have a few obstacle to over come at this point, getting financing to do the first deal is the major one. Cash reserves being another. Most private and hard money lenders have minimums and in my market it is hard to meet those minimums. The average flip can be bought and rehabbed for under 75k , which seems to be the lowest lenders will go. I can't go conventional, because I just don't have a %20 down payment and most properties will not qualify anyway. If anyone has any advice on how to fund a first deal with limited resources, please let me know.

I am renting a property where the landlord did not pay the property taxes and the house sold at auction. In SC, he has one year to pay the tax debt and stop the sale from going through. I have a strong feeling he is not going to be able to. At the eleventh hour, I want to offer to pay the back taxes plus $1,500 to sign the deed over to me. I would go through a lawyer and give him the money to cover the taxes and the buy out. Once the taxes are paid and the tax sale is null, the deed would be filed in my name and the funds released to the "landlord". I feel like he would be desperate enough to take this deal, otherwise, he would still loose the property with no cash.  My question is: would this be legal?