All Forum Posts by: William Petrisko

Jeff

Haha.. are you getting ANY of these items these days in Phoenix?

Right now, everything I look at is cash only, as-is, and no callbacks if you don't accept what little they give you the first time...

Actually, let me preface that question with what size properties are you buying? In my experience, anything residential (4 units or less) has little to no documentation available.

Just curious

thanks
bill

Hello!

I am a new member in the Phoenix area.

I purchased two rental properties last year (fourplex and duplex), and recently sold the duplex. Now I've got cash in 1031 escrow while I look for another property (tick, tick, tick...) to hold as a rental.

I also want to get into wholesaling, I started a direct mail campaign in March (300 letters) and April (250 letters) and have had 7-8 responses, but so far no motivated sellers... I'll post something in the wholesaling forum about my experiences there...

Yes, I know I need to get back to AZREIA and PHXREIA meetings and get talking to people...

So is there enough room in Phoenix for another (hopefully not wannabe) wholesaler? :)

-bill

Ok... Now more confused that when I started... Is this what each person is saying?

Raquel says the most recent lienholder has the ultimate right to the property, but must pay off all of the lienholders that purchased a lien on previous years (based on negotiation directly with those lienholders).

Jerry says that if the original lienholder does not choose to purchase the next year's lien on the same property, the new lien buyer is actually required to buy (redeem) any previous liens, thus becoming the sole lienholder of the property.

Bill

I have been sending out marketing letters to find some wholesale deals (out of state owners.) I am in Phoenix/Maricopa County.

On the letters that come back as undeliverable, I research the assessor's office, treasurer's office, etc.

I have found a few properties that are behind in their taxes, and naturally, people have purchased tax liens. I see that in several cases, different year's taxes were bought by different buyers. (2010 and 2011 tax lien purchased by CP buyer 1234 and 2012 tax lien purchased by CP buyer 5678.)

How exactly does that work out for the buyers if the property needs to be foreclosed? Doesn't the same person have to own all the liens to purchase the property?

thanks
bill