A house owner, niece and mother own a house in Anacortes Washington. All three are on disability and are in arears in taxes. I would absolutely hate to see them loose the house that they have owned since 1946. Anacortes is one of the most beautiful towns in western Washington. They can see whales out in the strait and its part of the San Juan islands. I made a suggestion that they can subdivide the property and sell one half or, redevelop the land and turn it into a apt complex. The owners then can live in one unit and manage the entire complex. Thoughts on this The owners are 10k in back taxes.
They're free and clear otherwise? Looks like they just need SOMEONE to give them a sensible budgeting plan. You? Paying off a $10k loan (as well as ongoing costs) MUST be cheaper than losing the home to rent elsewhere, right?
Maybe they WANT to cash out their equity? But if they can't handle a small amount of taxes, how will they handle large wads of cash? I know some Lenders offer "reverse mortgages" and such like, but, I don't know any that would actually give FULL (proportional) market value in return (at LOW owner-occupier interest). Are YOU in a position to be the first?
[Once owners start down that reverse mortgage road, all prior equity can/will be gobbled up very quickly]. My 2c...
@Lorin K. I'm super interested in this property. I am currently looking for a lot in Anacortes to build a duplex, we love this beautiful town! Message me more information about the property. I'm super interested!
@Julie Marquez Julie, if you hear back on this I would love to take a look at those numbers with you. It would be interesting to see how an experienced investor can make this works.
Also, as I mentioned, my office is in anacortes. If these ladies need help with their finances, is be happy to have a conversation with them and maybe pint them to additional resources that can help.
Wow. I just re-read that post. Please note for all, that was written on the mobile app! I apologize for the horrible grammar and spelling!
most times with a 20% payment you can start a payment plan witch would be 20% once a year for 5 years plus interest and the normal yearly taxes must be kept current i have done tons of deals like this that benefited all parties win win deals are the deals you want also put your wants aside and give them suggestions to save teir home without you profiting in any way other than learning the ins and outs you build trust and great karma for new deals donate your time i do it and help them save it for as long as they can and often times they call on you to take over another note provin them disabled i have seen exempts them from being removed from their home for back taxes in most states knowledge is power now is your chance to learn how to help more people and make money being a great person
call me anytime David 7077125006