All Forum Posts by: Joe Mclain

I'm assuming that the vacant lot is fairly inexpensive.   Why would you not sell the lot with a quitclaim deed?  That deed just transfers your interest in the property whatever that interest may be.  That would be a lot cheaper and faster to execute than a Quiet title action.

Joe

You might want to join your local REIA (Real Estate investing Assoc). You have the drive to find the deals. Try and partner with one of the locals where you throw him referrals for rehab and he pays you a fee. At this stage of your life, you need to work to get your financial house in order before you need to buy a house on your own. That doesn't mean you cant make money in real estate today. Just go get plugged in to your local market, find a need, and fill it.

Joe

@Helen Kirk You can bid on any of the properties in the list.   That field is kind of misleading.  That is really the amount of the opening bid and no one bid on that property.  Here's an explanation of the fields.   http://revenue.alabama.gov/advalorem/forms/transcr...

Joe

According to my sources, CA is a tax deed state with a 1 year right of redemption.

California is also a true deed state with no redemption period and no interest rate or penalty. However, even though there is no redemption period after the sale, the owner (or a lien holder) has 1 year to initiate proceedings to challenge the validity or irregularity of the tax sale.

I think if you want title, you are in your right to pursue that either with TTS or an attorney.   

Best of luck

Joe

I don't know the rules in TN but lets say you win the Deed and then like FL, you can immediately take possession of the property.  I would go online and look at the neighbors.  Ask them if anyone would like to own the lot.   2nd, you could go into Craigslist or Backpage and put an ad to sell the lot.  You sell the lot, go online and find a template for a Quit Claim Deed, fill it out and ship it to the buyer.

Hope it makes sense

Joe

We had a similar question on the Tax Lien forum and the consensus was that even if you got a Quit Claim Deed from the owner, you still might not be able to get title insurance on the property.  So I would recommend waiting out the 12 months and then taking over the property after you know that all rights of redemption have passed.   

On your first question, I can think of two scenarios where this could happen.   First is that an investor won the bid at the auction but didn't deliver the funds to purchase it.  Second is that the tax sale was in November for example and the investor won the bid.   Pays the back taxes and everything is great.   THen taxes for the current year are due by the End of December and now he is not current.

Hope this helps.

Joe

@Duriel Taylor I would also recommend Sandra Edmonds.  She has some great information on her site about buying Tax Deeds in FL.   She lives in FL and has an in depth knowledge about buying tax deeds.  Check her out on youtube

Joe

I am probably late to the game on this reply but I have found that in AL some counties have the information on liens.  In GA, its a paid site provided by the State.   I have no idea in TN but a quick google search will turn up something.  You're looking for the DEED office/Property office/Land office. 

Best of luck

Joe

@Greg Horn Why don't you try to first invest in land.  Lots of any size.  You may be able to find a niche market in HI and pick up some deals.   Mark Podolski and Seth Williams are the experts.  Check out BP podcast #39 I believe for Seth's information.  

Best of luck

@Helen Kirk you can goto http://revenue.alabama.gov/property/landsales/ and search the site.   These are properties that have gone through the tax sale auction and now the State is selling over the counter.   If the property on the list if less than 3 years from the date of tax sale then you are buying the tax lien.   Greater than 3 years, you are buying the tax deed.   You might also need to check and find out if there is a Judicial process after the 3 years which makes it more like 4 years.  

Best of luck

Joe