All Forum Posts by: Zachary Taylor

My understanding is that tax deed / liens are very specialized based on state and city. 

I have some capital and understand that I can go to friends and family for more if needed but I’d prefer to partner with someone who has experience. 

I have tax deed in mind but would like a partner. Just not sure how to go about finding tax deed investors in upstate NY. I’ll call some local real estate attorney and go from there. 

Are there investors who partner on tax deeds / tax liens similar to how some JV on notes?

Is there a list on BP of tax lien investors or tax deed investors? I did some searching on BP but couldn't find much that is useful. Perhaps I'm not looking in the right place.

Thanks!

Z

Hello BP,

I bought my first NPN in NY State a few month ago. The borrower is deceased. No payments have been made for over a year.

The heirs/relatives live in the home still. I have been communicating with them. They are responsive and friendly. They actually sent a copy of the borrower's will directly to my attorney.

They agreed to start paying the $500 next month but also are seeking government housing assistance. My first thought was Section 8, but I am still unclear on what agency.

They asked me for a letter stating the monthly payment and that utilities were not included. 

MAIN QUESTIONS: 

Do any of you have notes being paid with housing assistance vouchers (such as Section 8)? 

What is the process? Anything I need to be aware of? 

What do I need to supply these people with to give them the greatest possibility for approval of housing assistance? 

What are the hoops, paperwork/forms, etc need to be completed?

Thanks!

Zack

Jessica Zolotorofe need assistance with non performing note on property in NY. I'll email you.

Bill Exeter Hi Bill, you got me thinking... let's assume I manage a mortgage REIT. Am I not allowed to 1031 exchange any of my assets? I ask because I know mortgage REITs exist and if they exist that means the IRS is recognizing mortgage assets as "real estate". Would love your input on this. Thanks!

Still doing research on the note in NY I mentioned in earlier posts. Looking for a NY real estate lawyer. Please post or message me. Thanks BP! Z

It's been interesting thus far!

This is a different note. BPO is around $35K. Note balance is $39K. Purchase price of note is likely less than $3k. Worth it, @Jordan P.?

@Account Closed. Thanks Mike. Good info!

@Wayne Brooks Thanks Wayne. I know one thing... the borrower definitely son't contest the foreclosure (he is passed away). I suppose the executor of the estate/will can contest it? 

Don't worry guys! I have contacted a lawyer in NY about all this!