All Forum Posts by: Toi H.

 Hi Deborah,

In California, a tax sale does not eliminate an IRS lien.  The property owner have five years to redeem and if they do not redeem within that time period, the property is sold on a tax deed not a tax lien certificate.  The mortgage holder is notified of the defaulted taxes, the upcoming sale of the property and will have an opportunity to redeem the property prior to it being sold publically.  If the mortgage holder does not redeem, then the mortgage lien is wiped out.   However, if you purchase a tax sale property the owner has one year to come back and say there was an error (for example, a typo or tax bill going to the wrong address).  It is recommened in the tax sale guidelines that you make no major repairs or alterations to the property for at least one year.  I would recommend reviewing all the guidelines for the county in which you are bidding and to also review the California Tax Sale laws before proceeding to ensure you have a clear picture of your limitations.  I hope this is helpful. Thanks!

Thank you for such a great post.  I have a concept for a development and was looking through some of the threads I ran across this one.  Very informative!

California is one of the most diverse states to live.  Survey polls only speak for the people who were paid to participate - millions of people love living in California and don't plan on leaving. 

• QA: Yes; Yes; currently Hollywood Hills; staying unless there's a great opportunity to expand elsewhere; Diversity, family, friends, culture, no place like home; Business owner consultant, Realtor, investor

@Mike Miller  - The straight forward answer is no, no way to hide your "real name" in the license CalBRE database.    I would highly recommend contacting the Board directly to discuss your concerns.  

There are many other agents who have the same concern about the safety of their identity and there seems to be no real way around it. In Calif, when you sign up with a brokerage, you do have the option to use a DBA and when you have a listing your DBA name can show on it. The only way someone will know "Mike Miller" is not your real name is by looking up your license. For the most part, no one is going to look up your license information unless you've given them reason to question your practices. I hope you find the responses to your post useful; I would highly recommend contacting the Board directly.

Yes, if someone looks up your California license number it will show your real name and mailing address. Also, if you have an LLC/Corp in California, it is very easy to look up information. Simply go to: sos.ca.gov, click on Business name search/look up and type in the name of the LLC, Corporation name or individual names. You will see the registration docs, signatures, addresses and the names of the mangers or registrants.

You can do the multiple LLC's, put your LLC into a corporation or get one in another state like mentioned above. However, I would recommend not using your home address or home phone number for anything that may have the potential to be public, like a state license or LLC. Get a mailing address and VoIP line to give yourself a little privacy.

@Ryland -  I know this is an old post, but wow, thank you great information!

My curiosity to see what this program was based on brought me to this post.  I work primarily with investors and offers that are significantly low (I mean really low ball) come from wholesale investors using the Jerry Norton system.   It does not seem to be up to date for the Los Angeles or Inland Empire areas for homes sold on the market.  Perhaps the system strategies are best in a buyers market, other states or for acquiring off market properties.  If you are doing wholesale investing you need to have other strategies and models in place besides this one.  My comment is not intended to be negative or positive, only sharing my experience as an agent working with investors who use this system to make their offers in my area. 

P.S. Yes I have done wholesale investing so I know how it is (bird dogging, driving for dollars, yellow letters etc.).  It may be more beneficial to work with your local principal investors.

What an amazing thread! 

Here are a few of my WHY's:  

1) Flexibility - I make my own schedule and work for myself.  Real estate is fun and doesn't feel like a job although I put in a lot of hours.

2) Unlimited potential to earn as much or as little as I want.

3) More time with family...which is actually number 1.

Birmingham still has a big pocket of foreclosures right now and they are going fairly quickly.  For networking, you may want to connect with Birmingham Real Estate Investors on meetup.com; it's a large networking group with wholesale investors, agents and contractors. They meet on a consistent basis and often have deals, some of the BREI members are also here on BP.    

Toi

Distressed property needs rehab (kitchen, bathroom, possible roof repair, and basic clean up) - as is, buyer perform own due diligence. 

Great opportunity for investor - 15 minutes from historic Downtown Birmingham AL (restaurants, shopping, prestigious universities, historical sites, museums and airports). This is an up and coming area with long term residents in quiet neighborhood. ARV $55K, average rent is $650-$800.

Subject to Code of Alabama 1975, Section 40-10-120 (property can be fixed up and rented out).

Principal Investors only please.  All cash offers considered.

Video photo link - https://youtu.be/TUYHNysiBNI