Direct marketing techniques andIndirect marketing techniques.Direct involves going to the note holders themselves and making contact.

Usually the lein holder of the note will be there to bid what is owed against the note to protect themselves and in this real estate market it MAY be a more profitable route to let the bank foreclose, cure all other liens, and then negotiate with them without the risk of getting in a bidding war on a property that you usually can't walkthru to inspect prior to bidding.

The property owner or mortgage payer still owes for that debt that used to be back taxes, but they now owe it to you, the lien holder, rather than to the taxing agency of the government.- Any late fees or accrued interest on that tax debt after the sale of the lien gets compounded to that debt owed to the new lien holder.- If the property owner does, after the sale of the lien, pay off that debt, the money (plus any fees and interest) goes to you, the lien holder, and not to the government.

You would then contact that lien holder directly and inform them of the situation.

So you can still back out, but no one else can buy it.Foreclosure: The mortgage holder takes your property.

If you are the note holder and are forclosing on the deliquincy then you have to deal with tenents rights in CA and need to get the help of the court to vacate the property after you have gone through the forclosure process.

I would suggest offering such a small offer that the lien holder would need a magnifying glass to read it.

With all due respect, if you have been financing for 14 years you would realize that you have just advised someone to commit FRAUD.The silent second needs to be subordinated and transparent to the 1st lien holder or it's FRAUD.

My orginal thought was to have the LLC not only manage the property, but also be the title holder of the properties.

That being said, how likely would it be to locate such deals in declining markets such as mine (Las Vegas) in which the only apparent opportunities to profit at enough of a discount are dominated by short sales and REOs, as the majority of owners motivated to sell are those who are severely underwater (75% of every mortgage holder in Vegas).