All Forum Posts by: Sriv Nava

Instead of worrying that "someone is going to place a paper on the door saying I owe like $50,000", why don't you hire an atorney to do a Title Opinion (in NC it costs about $250-$350) which should give you a definitive answer.  Since it "will turn out to be a great deal, even with a complete rehab", the small amount of money spent on Title Opinion will give you  peace of mind and you can sleep better ;-)

"until after an auction "  - meaning Judicial or Nonjudicial Foreclosure auctions?

If yes, IRS can put a lien against the past owner but it will not stick to the property that has been foreclosed. It will stick on the properties that the past owner still owns but not the one that has been foreclosed.

Details on IRS Lien and Foreclosures

https://www.irs.gov/irm/part5/index.html  Section 5.12

Don't quit your job yet.. With your curent steady income, you are used to a certain  life style which you cannot sustain if the steady income stops and you wait on houses to sell to make sporadic income .. 800K in retirement is not good enough if you want to maintain your $200K comobined income lifestyle for a long time. Keep doing this on the side and save enough in retirement and gain more experience before quitting your job going into this full time. Just my 2 cents..

I am in NC. My insurance company is not willing to insure a house i am re habbing while it is vacant. Has anyone run into this?  I tried farmers but their premium is too high.