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Updated over 9 years ago on . Most recent reply

Account Closed
  • Investor
  • San Jose, CA
1
Votes |
8
Posts

Looking to co-invest in tax sale auctions in SF bay area

Account Closed
  • Investor
  • San Jose, CA
Posted

I'm looking for investors experienced with tax sale auctions around the SF bay area (alameda county, contra costa county, santa cruz county). Would be great to find opportunities to co-invest. Please share your thoughts on what might be best ways to find like minded investors locally.

Most Popular Reply

Account Closed#1 BiggerPockets Exclusive PRO Area Contributor
  • Professional Auctioneer
  • Baltimore, MD
1,470
Votes |
1,857
Posts
Account Closed#1 BiggerPockets Exclusive PRO Area Contributor
  • Professional Auctioneer
  • Baltimore, MD
Replied
  • Owners who have not paid their taxes are always good prospects to call on.
  • This method eliminates the competition at the tax sale, be pro-active.
  • Tax sale certificate purchasing is a passive method of investing, for me, I'm impatient, I don't want to wait the prescribed period of time to get paid interest on my investment (too old to wait for that).
  • I would rather deal directly with the property owner to attempt to solve the problem they are having; no money for the taxes.
  • There are times when if you are pro-active, visiting tax sale properties, searching for the owners, that you may find a really great deal. Got be on the streets however!
  • Information is valuable, you could also consult with owners (for a fee), show them how they can stop a tax sale foreclosure, how they can delay it, how much time they have.
  • You could offer to buy their property giving them an option to buy back when they are financially able while remaining as a tenant.
  • Hard or soft money loan will give you a great return on your cash. Make sure you have the proper and legal documentation (use a title company).
  • You could offer to buy (have assigned to you) the tax sale purchaser's position in the certificate, this puts you in the chain of title. This gives you lots of options.
  • People don't want to lose their home or commercial properties, if you understand the system, your consultation to them could be profitable. Be professional, kind and understanding.
  • Have empathy for them, understand their position, don't be greedy, make full disclosures and don't try to get over on anyone just so you can profit. (It ain't worth it!)
  • The Universal Law of Reciprocity will return to your the same kindness you put out there in the world.
Charles Parrish

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