All Forum Posts by: Anthony Yannucci

 I am really not looking for tenants in my properties.  I am hoping to buy low, and then rehab and sell, or if the price was right, sell it right away.  I want to get into some good counties in NC that people are moving into with good schools, low crime, etc...  I have vacationed in NC in my younger days in Cape Hatteras and was contemplating moving to the Charlotte-Mecklenburg area years ago.  That is about my familiarity with NC.   I guess I want to know the "hot spots" of NC.  Thanks for any help!

Hello North Carolinians!....I was looking to possibly be investing in NC and was wondering where the best counties/neighborhoods that are up and coming are in that wonderful state.

Please let me know your thoughts and thanks for any information!

So you can pick up 3 SFRs for less than 10k?  One needs minor rehab, one needs total, and one you say is a complete wash.  Right?

Then there is a duplex that is fully rented. The owner has not paid taxes and not made loan payments, right? Is the lending institution going to foreclose on it? How much to get it current? I am a little confused with the duplex, but not sure why you would not move on the other 3. Seems like a great price. What would you need to put into them, and what would you attempt to sell them at? What is your ROI? What kind of neighborhood are they in? What kind of liens are on them? How long before it gets sold at an auction? (Not familiar with KY tax deed auctions.)

 I do not know any attorney in the Tampa area,  but wanted to see how you re doing with the tax deed sales in Hillsborough County?  Are they lucrative?  Do they have many sales per month?  Have you run into any issues with purchasing through the county?

 I bought via a tax deed.  The county's court of clerks notifies the IRS, and yes I discovered the letter they sent them on 12/30/15 notifying them of the surplus from the sale and that they would have 120 days to inform the county if they wanted any of those funds.  I do believe this lien should be paid from the proceeds of the sale.  Now I need to just determine how long that wait is going to be.  I am hunting down the IRS officer assigned to the case for more info.  It seems like the lien was put on after the mortgage  (I guess).

I have two realtors but by mistake.  I had interviewed some realtors and one is in a different county giving me properties from that county, and the other one is a local realtor.  I hope I am not crossing any lines.  I really did not "hire" either one, they just started sending me listings.  I have not used any of their listings yet.  It may get hairy when I get a listing from one, who got it from the other...awkward!

 I usually always figure there will be liens.  I usually figure anywhere from $3-$5k, and factor that into my bid for the property at auction.

Unfortunately, I just purchased a property with a federal tax lien on it.  Live and learn! The lien is $4500, which I think is still ok considering the price i purchased this home for--I should make a decent profit.  I am at the beginning stages of researching the lien with the IRS people.  Federal liens last 10 years, and then it is wiped away---that much I have uncovered.  I am trying to see if the lien can be negotiated down.  Keep your fingers crossed!

 Yes, you pay them off after you have the deed in hand.  Usually you can find out via the Court of Clerks site.  Here in FL, they record all notices and you can get a ball park figure.  For more specific info, I am not sure if the county department where the liens originated from would give out any info ahead of the tax sale being you do not have any legal interest in the property.  Afterwards, you can contact the county department, inform them, and possibly, prove you are the owner, and then get a payout.  Tax deeds are great but you must be sure you do your due diligence and research.  There is no immediate rush to pay off those liens, just if you are selling the property right away.  The new owner might want the title to be clear.  But I have sold properties with the liens still attached--I just disclosed it in the contract. 

Hello Jenna...most liens are wiped away through a tax deed but that is where your due diligence and check with the county to see what needs to be paid.  Not sure how it works in OK, but here in FL we pay the code violations after the tax deed.  You would need to pay the liens prior to selling it and usually there is interest that accrues while they are not paid off.  But you can certainly buy the property, rehab it, and put renters in there and have them help pay off the liens and for the cost of the quiet title if you go that route. Just some ideas.  Good luck!