All Forum Posts by: John Griswold

Do you know an investor friendly agent in the Calhoun or Gordon county area? I tried putting together a rehab report to go with an offer so the seller could see that they were charging too much and the realtor that did the showing kept telling me that they wouldn't go down in price so i was wasting my time. She eventually talked to the sellers realtor and got back to me that they MIGHT go down about 15 percent, but thats all. I wanted to say "I told you so",  but she doesn't seem to want the property to sell for less. I'm not sure if its because her commission will be smaller or if she is too lazy to express to the sellers that they have their property overpriced, but either way, I'm going to lose the deal because she's not willing to put out any effort.

I'm looking for a list of numbers that an investor looks for when buying from a wholesaler. My laptop is down, so I'm looking for just a text listing, instead of an xml or PDFs worksheet, of everything I need to have on the deal. I know I need price, rehab costs, taxes and ARV. What am I missing?

You'll enjoy the wealth of information here. It's worth it to take the time to browse and word search. How long have you been a property manager?

Are there any reasons that an investor would be better off not getting their liscence?

I've been a meticulous carpenter for 20 years, bought  1 house to rehab/ live in(which is "impossible" they say, but it turned out well),  and given advice to others that helped them out immensely as far as RE and construction and remodeling goes. But after almost being killed when hit by a truck while standing in a parking lot which has left me with some physical hindrances, I've had time to think about my what I've always wanted to do but couldn't because I was too good at what I was already doing. The Calhoun RE market is complex, and slow from the naked eye. But I'm looking for someone to bluntly point out where I can improve to get my game on. As far as what can I do for you? The list of what I can't do is shorter than the list of what I can ;)

If you call the IRS @ 1-800-913-6050, they will request that you fax a copy showing your material interest, such as a copy of the quitclaim in your case, and they will tell you the status of the lien. Last time I called, I was on hold for 35 minutes, so have something else that you can do in the meantime while you wait 

;)

 Like Jay said, if nothing shows up on the title report, then you have no worries. And a title search will probably be your least expensive option.

But it looks like you are in the clear anyway according to this from the IRS website -

https://www.irs.gov/irm/part5/irm_05-012-004.html

5.12.4.4 (06-11-2010)
Notice of Non-judicial Sale

1. 4. In situations where a notice of Federal tax lien has not been filed or has been filed less than 31 days before the sale, it is not necessary to notify the Advisory group managers office of a sale of the taxpayer's property. In these situations, the sale shall have the same effect with respect to the discharge of the Federal tax lien/NFTL as provided by local law with respect to junior liens.
2. In other words, if they didn't receive proper notification, then they would have the locally provided 1 year instead of the 120 days. 
3. If for some reason you are responsible for it, you can use this - 
4. Requesting the United States to Release Its Right to Redeem Property Secured by a Federal Tax Lien

But thanks for bringing this up, I now have the info I needed to follow up on a lead :)

Looks like @Jay Hinrichs knows his stuff! Here is the info on the IRS website - 

 https://www.irs.gov/irm/part5/irm_05-012-005.html

 I was told recently by the Gordon County tax commissioner that after a tax sale, all liens are cleared after one year. I have a friend that was sold a local property and found out that it has an IRS tax lien, so he says he can't do anything with it. I'm going to do some digging on this one, it might turn into a niche market!

 Art is right on. I've done a lot of work for people with deep pockets, and one of the biggest reasons they would trust me to take care of a job, then just hand them a bill when it was completed, was because I respected their budget and expenses. To quote Art "If he can't do that without an extra incentive, he won't do it with one. It's called: professionalism."

Having said that, I've been booked up for months in advance and had something come up that was an emergency or just a friend in need, and slid them into my schedule if it was something small. Cash incentive MIGHT help persuade him, but it would be to your benefit to just to let him know a general time frame of when you will need him next so you can have your place in line. If you allow him to bid a job instead of by the hour, you might spend a little more, but you will know beforehand how much it will cost and he will have allowed himself a little extra $$$ to allow for variables.