I hope this doesn't sound to much like a "promotion" its not meant to be. I assume real estate and finance brokers can appreciate this situation. After several months of working with a borrower seeking a multifamily p...

I have been entering all my bids as proxy andI'm yet to win any auction.

If commercial insurance is not purchased for the llc (property worth $1 million) and the plaintiff wins a $1 million judgement he can take ownership of the property as compensation and you lose that revenue stream.

You could structure the deal with a 20 year note with interest only payments on the 80K and if the city ever requires you to convert, the note would be forgivable or they would agree to pay for the conversion.A win-win - they get their asking price, but the risk is on them if there is a conversion in the future.  

I've seen beautiful old high rise condos selling for 30k that have monthly HOAs in the $600-700 range.IMO: from an investment standpoint the townhouse wins, hands down

I'm in chicago but I know how to win deals in any market.

Hi,When you win a Tax Sale Deed, what are the risks with the prior owner filing bankruptcy prior to, during or after the sale? 

You do not have to accept their payment.Go to court, win your case.After the case is won the eviction will be on their record.

@Michael Win Your hold time on the current property could be an issue but here's the reason why - There is no statutory holding period before you can do a 1031.  

wayne, you are wrong. check with the obama adminstrations ruling in 2009. they put a limit on the number of houses a bank can release to market in 2009 because the flood of foreclosures hitting the market was killing the housing market. and micheal has an excellent idea with contacting the owner, but here is another idea. the last step in foreclosure for a bank is to have a foreclosure/ trustee auction. usually held right at the county court house. sometimes called a sheriffs sale. you can go to this auction and bid against the bank on any house. in most cases the bank wins, but not always. you could get a decent house for a decent price if you want to outbid the bank. they are only going to bid just so high.