All Forum Posts by: Bruce Lynn

What state are you in?

Anyone remember the old days when HUD would show the bids and the name of the bidder after the auction was over. I remember one that had 70 bids. There were the same names I saw on many HUD properties. There is one guarantee, you don't bid, you don't get it.

I would also say as an investor, you probably need to make 10 offers for every one you get.   You should probably be evaluating 10 houses for every offer you make.   If you need steady deal flow and want good deals.

You will likely never know if there was one other offer, multiple other offers, written, verbal, lower, higher, or better or worse terms.   You just have to make your best offer.  You hate to loose a good investment or a dream house for $1000, but it happens.  Rarely do I want to change my offer or a clients offer, but some of those you win and some you don't.

I see this all the time.  My thought on tax sales is not to buy anything you haven't seen in person.  Google street view is not always your friend.  It's a tool....one of many.

Happy to help you. There may be better financing than FHA/VA depending on where you want to buy. Both those loan options are fairly strict on terms of condition, so might not be the best for wanting to get your hands dirty. Multi family is different typically than single family as it tends to sell on cash flow. Certainly options out there for you. Happy to help you if we can.

@Bara Nwokoma I am Realtor/Broker and Investor. Mainly I buy foreclosures now to flip, but I still have a couple of rentals. We can look at MLS and also the automated systems for values if you have time.

I can try to help you if I can.  You are right though that these old houses are not always easy.   Less and Less good comps for them and often few sales around them.   Might be easier if we can meet somewhere for coffee and look at the screen together.

@Roger Gelpey   Shelby County in what state?

Est likely means ESTATE of.....as in the former owner has passed...and the house belongs to the estate of that person or their heirs.   This is pretty common on tax sale properties.   Owner passes and no one pays the taxes, or has money to pay the taxes, or knows even that there is a property.  Address doesn't get changed or forwarded or enough time passes the PO will not forward anymore....so no one gets the notices, and it goes to foreclosure.

The % is probably really c/o or should be, but they don't have a key for that so use % and that means "in care of" .

Let's say dad moves in with the kids, the bill gets addressed to dad c/o Dwayne Wade at the new address.  the % could be the attorney for the estate, could be the executor or personal representative or a relative.   The % is  a bonus for you.  Helps you track down who might be responsible.