All Forum Posts by: Tim S.

Look at the tax bill and see if the "bill to" address is the same as the property address, and the tax bill is in the same name(s) as the borrower.  Not fool proof, but it's a good indicator. 

I tried to buy a 2nd on FCI last year, didn't go very well.  My offer was accepted and I was given the due diligence files, it wasn't very complete. A credit report was not provided.  This is probably the most important information for a 2nd.  Initially there was some resistance in providing it.  I said it's a deal-breaker, I must have it.  They said OK, we'll try to get one.  

A couple of weeks went by, I checked in several times, "we are still working on it."  Then out of the blue they told me they sold it to someone else.  I guess they found someone who didn't need to see a credit report.   I was kind of pissed about it, but I'm probably better off that I didn't end up buying it.  

This is helpful

http://www.realtytrac.com/real-estate-guides/foreclosure-laws/

NV

http://laughlinusa.com/why-nevada

You can find lots of answers/Information by googling that question.

This has been the norm in CA for a number of years now, seems to be slowing a little now that the median home price is over $1 million, in silicon valley.  It has to end, even well paid tech professionals are being priced out. 

Thanks Marc,  it's moving along slowly.  I'll definitely get in touch with you when the time comes.

Just like any investments in an IRA or SDIRA, you do not pay any taxes on any gains made inside of your plan. The same holds true for investing in mortgage notes inside of your SDIRA.

Yes

Yes, the county can sell the house to get paid for property taxes owed.  You can call the county and find out when and if the property is scheduled for tax sale.  

Taxes should be checked before you buy a note, then you can decide if you are willing to pay off the taxes.  If you're not willing, then you probably shouldn't buy the note.   The price you pay for the note should be reduced accordingly to account for the taxes that you'll need to pay off.