All Forum Posts by: Alex Verdugo

@Michael Oldehoff I have recently found a property 2 years behind in taxes, about $2k, can I just pay the taxes and then how I go about acquiring the property?

As I was driving for dollars i came across this property that is 2 years behind on its taxes.  There is an absentee owner.  Ive heard a lot about purchasing tax leins and how to purchase properties that have tax leins.  Most of those stories begin with the investor going down to the court house and getting the tax lein list. A few have ended with the investor getting the property for basically the taxes they paid.  Seeing as this was found just by driving around and I didnt find it through a list from the govt, what do I do next?

I'm not sure if I can just pay their taxes and then if they don't pay me back, I aquire the property.  Do I need to contact them to set up a repayment plan?  Should I just pay the taxes and then talk to the owner? Talk to owner first?  Should I send out a yellow letter just to get things going? 

This is the first time I've dealt with this sort of thing.  Any help will be greatly appreciated. 

I have been sending out yellow letters for the past week or so. Usually about 4 a day just to get my consistency up until it becomes a habit.  So one of the letters came back as "return to sender, attempted - not know, unable to forward".  According the the county website the property is owner occupied.  

What are the possible reasons that it would be returned?  There weren't any hand written notes on the envelope to indicate that a person declined delivery. It simply looks like a standard computer decision to not deliver.

What is the next step in finding the owner?. I did a property search by his name and the only one to pop up was the property I already sent the letter to.

Is there another way to find out the status of the property? I'm not sure if its gone to foreclosure, its in probate, whatever. 

Like I've heard so many times on the BP podcast, go the extra mile and thats where the best deals are. So please help me finish this mile of the journey.

I've noticed a bunch of empty schools around town and thought about how awesome it would be to own a school.  Good to know I'm not the only one thinking about how to best use these spaces.  One thought that I had was to convert the rooms into artist studio spaces.  Divide classrooms to fit more artist but at the same time having a lot of open areas for outside painting.  I'm interested in seeing how this turns out for you.  Good luck.

Thank you for sharing your story. I'm new to investing, still haven't made that first purchase,  and I'm inspired by how you did this so quickly.  I have a similar goal of reaching $10,000/ mo in passive income from rentals.  My goal is to have that cash flow in the next 5 years.  Congrats on your success.

@Matt Leber

I've been overestimating most of my numbers before I make an offer. If the over numbers look good to me, I figure that give me a bit of flexibility. Once the offer is accepted then I get the specific, insurance, utility averages, etc.

@Matt Leber

I've been overestimating most of my numbers before I make an offer. If the over numbers look good to me, I figure that give me a bit of flexibility. Once the offer is accepted then I get the specific, insurance, utility averages, etc.

@Kelli Loo. Of course there will be failures, that's how you gain experience. I have definitely learned more from my failures than from my successes. Thats just life. Its like I tell my son, you don't have to be afraid of failing, its going to happen; there's nothing you can do to stop it. But you can minimize how bad the failure is by learning as much as you can. Beforehand. You're going to fall down. You're going to get the bloody knees, the scratched elbows, the scars that say it really happened. In the end, the failure makes you stronger.

Congrats on making things happen.

@Nate O.

Congrats on your deal. Its good to hear that other people are having success doing what I'm doing. I dont have my first deal yet but I'm writting the goals, reading, listening, etc. Ill have that first one done soon enough. Keep it up.