Norwalk, CA · Member since 2018 · 17 posts · 5 votes
Hi everyone,
I'm right at the border of Los Angeles and Orange counties. I want to get a list of properties in both counties that are a year or two away from being in default due to delinquent property taxes (in other words they are a year or two away from going to auction for delinquent property taxes). I contacted the property tax assessor's office for Los Angeles County and they gave me the number to "Bid 4 Assets" which is the company that handles property auctions for many of the counties in California. Bid 4 Assets said that they could only give me a listing of the properties that were already in default and listed to be auctioned, and didn't know where I could get a pre-default list. Is there a way to get such a list? I'm a new wholesaler and I want to try to send yellow letters to property owners who are in the position of possibly losing their homes because of not paying their taxes but still have some time to work a wholesaling deal.
A few friends and I run analysis on the tax default lists in the 5 major SoCal counties. If you're are talking about improved properties, it's quite difficult to get them in LA and especially OC market. The way the market is appreciating, if they are in a bind they end up listing the property or coming up with the money somehow. Because even crap houses are worth 400k in LA, even if they owe 30-75k in back taxes, they figure it out or end up listing it traditionally. The ones that make it to auction have a story behind them. Most of the time, the owners have simply vanished or gone to jail or some weird circumstance. On the other hand, we've had some luck with vacant properties and getting people to sell significantly below market value before auction. However, it's much harder to wholesale land. If you do decide to try, I would look at people right at the 5 year mark. 3 or 4 years is too early. Also, you'll have better luck in San Bernardino and Riverside county.
A few friends and I run analysis on the tax default lists in the 5 major SoCal counties. If you're are talking about improved properties, it's quite difficult to get them in LA and especially OC market. The way the market is appreciating, if they are in a bind they end up listing the property or coming up with the money somehow. Because even crap houses are worth 400k in LA, even if they owe 30-75k in back taxes, they figure it out or end up listing it traditionally. The ones that make it to auction have a story behind them. Most of the time, the owners have simply vanished or gone to jail or some weird circumstance. On the other hand, we've had some luck with vacant properties and getting people to sell significantly below market value before auction. However, it's much harder to wholesale land. If you do decide to try, I would look at people right at the 5 year mark. 3 or 4 years is too early. Also, you'll have better luck in San Bernardino and Riverside county.
Hi @Kristopher Gomez. Have you had much success with tax default lists? If so, which counties have been good for you? Since I'm new to everything I like to try to get good perspectives on what to expect. I don't mind working hard and working long even if if the prospects are slow as long as I know what to expect.
@Johnny Rhee I didn't want to go into wholesaling land until I get experience with improved properties first. I've heard land can be a bit more difficult. 😊 I really appreciate the amount of feedback you gave. Would I go through the court or through the county tax assessors to get the tax default lists for Riverside and San Bernardino counties?
@Ezichi Oha Thanks for the direction. It's really appreciated. Which department of the courthouse do you go to?
When you get to Los Angeles court house in Downtown LA. Tell front desk you want to access tax delinquent property list in the county. You will be directed to a computer to make download. You will need to pay for the list. I just don't remember how much.
@Ezichi Oha I went downtown and they had me send an email for information regarding how to get the list. They got back to me and the list on CD is $325 and they would fedex it to me. I can't get the list right now but it's good to know where to go. Thanks!
I guess what you're looking for a pre-foreclosure tax delinquent list, i.e tax delinquent properties that haven't been foreclosed by the county but are on track to being foreclosed.
@Kenneth Kim I am in Santa Cruz myself. Locally, I work as an agent in Santa Cruz and I actively invest out of state. Feel free to shoot me a DM and I will send you my contact info or just Google Bargetto Real Estate and you'll see my number. I look forward to chatting with you.
I'm new, doesn't mean I won't be getting wholesale property to sell.
the questions is 'Profit margin vs demand'
If I'm the cash buying investor, I'd go for where demand is there and get reasonable profit vs just going after big profit margin, not knowing when the property will sell.
I don't think it's a rocket science really
If you can understand how stock market works, same principle applies.
knowing psychology helps where to look for motivated sellers too.
I have a good source for tax delinquent lists with an equity filter. We use it for our direct mail campaigns every month. DM if interested.
I've approached my county and bought one of their ridiculously priced CDs. It was so badly organized and literally had 400k+ properties on it?? Waste of money lol
I have a good source for tax delinquent lists with an equity filter. We use it for our direct mail campaigns every month. DM if interested.
I've approached my county and bought one of their ridiculously priced CDs. It was so badly organized and literally had 400k+ properties on it?? Waste of money lol
Hey Pratik, would you mind sharing that with me as well? Thanks in advance!