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All Forum Posts by: Jeff Jennings

Jeff Jennings has started 3 posts and replied 3 times.

Quick question regarding purchasing tax deed foreclosures. If you purchase in a "Redemption" state where the title company won't issue title insurance for the length of the redemption period, are you able to re-sell the property whether to a retail buyer or other investor during that period? Or do you have to sit on it for the entire redemption period? 

Post: Buying at auctions...

Jeff JenningsPosted
  • Posts 3
  • Votes 0

I've been looking at picking up houses through the auction sites (Hubzu, Auction.com, etc) and I know that as the buyer I will be responsible for closing costs. But if I'm using private money to fund it as a "cash deal" then I wouldn't pay as much as I would if I were going to closing with traditional mortgage funds, right? Anyone have much experience with the auction sites that could shed some light on this? Should I figure 1%, or should I be higher. If the title is clear, and there is no back taxes then wouldn't I just be paying the county and city fees? Any help would be appreciated!

You hear all of these people (so called Gurus, self proclaimed obviously) talking about how when they got into investing they had no money and had to come out of pocket with zero cash in order to obtain their first property. Has anyone ever ACTUALLY done this though? I mean, between hard money, private money and gap loans it would seem like it's possible, but is it really?