All Forum Posts by: Jason Crowe

I think this is correct.  Also i see stated on the lein i found specifying 10 year increment periods to expiration.  Certain circumstances can extend such as bankruptcy etc. but I dont see anything after this notice to indicate extension.

A title company indicated 20 years but I see that written no where in federal law or statutes that i come accross. The purchase is being held up because the title indicates it wont clear without release or clearing of these judgements.  Title should have lawyers that undertand the limitation of a 10 year fall off period after initial notice of federal lein recorded correct?  Or is this not accurate of all title companies?

10 years is definitely the timeline for expiration?  How can one confirm if the IRS reinstated the Lein?  Where do you go to look for this?

I am in a transaction where there is a Federal Tax Lein involved.  The Hard Money Lender will not close without this Lein satisfied.  The Lein is over 15 years old, I am reading and the IRS indicates this type of Lein falls off after 10 years I believe.  Is this accurate?  I feel I've been told many different time increments but want to know which time period is accurate for it to fall off if IRS does not reinstate or refile the Lein.  What is the time frame for a Lein to fall off of a property?

So these forms just need to be turned in?  I havent seen the liens but im being told they are IRS liens found.

So with the IRS Lien what is the process?  How do you expedite this quicker?  Can you tell me what you learned and what you would have done to possibly expedite it?  I have a similar situation currently and title is saying owner has IRS Liens and cannot given clear title given owner has these against them.  They were from years past but Im wondering best and fastest way to mitigate this and get the deal closed?  Im in FL but I feel the process shouldnt be that much more difficult.

Is there any other way to fix this without rewiring the home to insure as a primary residence?  Non-grounded you can put GFCI in breaker box but I dont think this makes it okay for insurance though.  Thoughts?

What is the best way to mitigate this?  Change old home to retail sale.  How to do it most cost efficiently?  Leaving them on the structure and just painting the siding is not an option.  

How do you get discounts corporately for purchasing materials that are most advantageous to investors?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $145,000
Cash invested: $95,000

Full Rehab from studs up due to water damage and sheetrock having mold.

How did you find this deal and how did you negotiate it?

Market MLS

How did you finance this deal?

Hard Money

How did you add value to the deal?

Rebuilt everything except duct work, original plumbing, most wiring

What was the outcome?

expect 100k profit

Investment Info:

Single-family residence fix & flip investment in Jacksonville.

Purchase price: $70,000
Cash invested: $30,000

Rehabbed Property Completely except for roof
Flooring
New Kitchen
Added Room
Added Full Bath (Changed Half Bath to Full Bath)