When facing a tax bill that steep, I'd highly recommend that the seller take steps to alleviate that burden.

Newbie question:I have a little experience with real estate investing (own a couple rentals and just bought a cheap fixer house from a couple facing tax foreclosure that we found driving by and seeing their FSBO sign). 

Great to see a new face on BP I'm a wholesaler from DE so keep me in your contacts when you are ready to beef up your portfolio.

AND, you'll spare him the joy of having to face the judge in a court of laws.

It's been really good for us last few years, so I decided it was time I dropped in on the forums to find some key answers that I know my business will be facing down the road.

No Realtor would deal with hoarder houses, someone facing foreclosure, or with massive liens against the property.

And when enough of those CMOs go bad, banks realize it takes them 30 days or longer to structure these CMOs, so all the mortgages they bought that are still on the books to be securitized are deemed worthless, and get sold off at pennies on the dollar, leaving the owner to deal with an unscrupulous lender who wants 100% payment for a debt that they own for 20% of face value.

All very true      Let's face it to some real estate agents are just nonresponsive and lazy     Although my biggest beef is because the house was not priced correctly and it begin setting      In my opinion that is the most important thing a realtor does as a selling agent     The longer the house sits the less you're more than likely going to get    

We were anticipating starting out wholesaling as well, but we were faced with back to back great deals that we couldn't pass up.

Free for teams of up to 15 people.Slack: This business-facing chat room tool offers a different way to communicate, and is especially handy when you have a handful of people you want to keep informed as an FYI, but want the ability to @tag whoever you need to notify.I'm curious to hear yours and others' experiences with these and the tools recommended above!