All Forum Posts by: Courtney Fricke

Hey Jordan, I'm an investor in the St. Tammany parish area. To be clear - the four siblings (3 now that one did a quit claim to recuse herself) own a 2,000 sq ft house that is on the lot next to the house that you live in and inherited? Did they inherit any of the land that the house is on as well? That is helpful information. 

You have a few options. At the end of the day, you'll have to figure out two hurdles since they are a priority - ownership and the lien (for taxes). The reason I ask about the land because if it is a 2000sq ft house on land that doesn't create another problem. Generally houses and land are owned together except a few rare occasions. Just wanting to see what's the case as that would be a difference issue as well moving forward. 

Ultimately, if you don't own the house, I wouldn't pay the taxes. If they don't pay for so long then it'll go to a tax sale where someone will pay the taxes on it for a while. The person who is paying the taxes will not have full ownership of the house just equitable interest. I know in St. Tammany parish this is how it works but I'd suggest finding out how it works in your parish. After someone takes over taxes from a tax sale, they charge interest and a bill racks up. After a 3 year period they can attempt to purchase the home. Regardless, at the end of the day, the back owed taxes is a lien on the property. Your family can't sell it without clearing up the taxes owed.

Which brings me to the next point. Selling it. In order for your family to do so, they'd have to all agree on it. Depending on how the succession has been handled and if they can agree or not, it can be an easy or difficult task. 

Ultimately, you don't get a say in this property since you aren't an owner. I think it comes down to educating your siblings on what the consequences of neglecting the property will be and options that they have to fix the problem. I have the contact info of a wholesaler in the Baton Rouge area who may be able to help you further. Feel free to contact me if you'd like. Best of luck!

@Todd Romero My pleasure!

I am currently in a similar situation. I have a HELOC on my primary.

I plan to refi buy and holds that I purchase with the HELOC or if I use a hardmoney lender in the future. Think about the benefit of a fixed interest on your duplex with a refi vs possible heloc interest increases and the tenants are paying down the mortgage. Takes out the risk on your primary. Takes out the risk of increasing interest. Also, refinancing will give you access to that line of credit when needed for future deals but again, I'm planning to rinse and repeat the refi option as I want to use other people'e money and eventually limit the risk on my primary residence.

Welcome to the site Brian Douglas ! I'm an investor and wholesaler in the St. Tammany area. If I can help in any way, let me know. Pablo mentioned a great forum for a BP meet up. I'll be there when it's decided. Hope to see you then!

Cheering you guys on! Best of luck!

I can make either the 13th or 15th. Let me know if I can help arrange anything.

Info for anyone looking to join: https://go.columbiacoworking.com/order-form1810159...

Meeting was informative. Good networking too! Lol! I think the Tap Room ended up being too loud last time. What about meeting at a Starbucks? If the 13th doesn't work, maybe the 7th or 21st?

Columbia Real Estate investing group is meeting tonight at 630pm. Topic includes a real estate CPA being there. First meeting is free. Yearly dues are $125. Worth checking out if you haven't already. Networking is a huge benefit. Per the email: Columbia Real Estate Investment Club Meeting How's it going? Tomorrow night, Wednesday at 6:30pm we will have our monthly Columbia Real Estate Investment Club meeting. Our guest speaker will be real estate CPA Ken Lozano. He will present on real estate accounting fundamentals, but please come prepared with your questions to ask! See you tomorrow! Ryan Meeting Location: 215 N Columbia St Covington, LA 70433

Just sent you a message to connect, Ryan.