All Forum Posts by: Tan Su

@Khloe Renee Williams I did once on my own. It’s a Florida certificate, I petitioned the tax deed and the property got foreclosed and then sold by the county on auction. I got the investment back plus 18% interest

@Norman Bamford What did you end up doing?

hi BP,

I recently bought some foreclosures from the county's forfeited land sale in Ohio (no redemption period), as you all know, the title is cloudy so the strategy is to rehab and hold to rent. However, I do not have enough cash to do the rehab anymore due to too many deals recently so I came up a new idea and am currently talking to a few ppl. 

I would like to sign a contract with some handymen so they will pay to rehab (they can use whatever material they want in whatever way they want to do), and after the fix, they will be responsible for looking for the tenants, managing the property and paying for utilities and taxes. As compensation,  all the rents will be used to pay off their work first and beyond that, it's all their income until the negotiated period ends, for example, 5 to 8 years. After that, I would like simple sell the property for a profit since everything should have been fixed up and the P/L stmts are ready as tracking records. 

Do you think if this is a feasible strategy or a good idea? What are the risks?

@Mason Warnimont If you buy right, the return is good. For example, I usually only buy those first-year defaulted liens. 

@Lucy Iburg Try Tax Title Services, just google

You can use Tax Title Sevice or suit to quiet the title but both maybe “ expensive depending on the market value of the property you bought. Or you can just rehab and hold as a rental or cheap sell by Quitclaim deed which is what I am doing.

@Wayne Brooks Thanks Wayne for your response. I want to sell by qcd cause I don't want to bother suiting to quiet the titles. Discounts are fine as long as I can get my numbers. My concern is more about if Wholesale dealer will accept those property and actually pay me the cash?

On Craigslist I saw lots of "Fash Cash", "Quick Sale for cash", "We bug houses" type of ads, has anyone done such a transaction?

What's the catch? 

I have some foreclosures bought at county tax sales, I am definitely willing to sell some by QCD if I can get enough "Fast Cash". 

@Tre' Carpenter I have rentals and flips going on. 

@Anthony R. I would definitely like to open some corporate opportunities. Would you mind sending me your phone number in pm? I'll text you. I am looking for a local partner.