All Forum Posts by: Kiet N.

Feb. 2017 - one of the county in Metro Atlanta listed a 2 YEARS unpaid tax  property  belongs to BoA -Yes, Bank of America. When I looked it up, it was an "active" BoA branch location. 

I was so eager to buy it - just to have the bragging rights of " I OWN A BANK" 

They paid it off 3 days before the auction day. 

So, anything can happen with banks and mortgage companies ! 

Happy hunting !!!   

I do not have the answer, nor any experiences in large contract work. This is what I do when I contract out for any projects: 

1. Preset "check points" associate with the costs for each point.

2. Payout at each point.

3. Either party has the rights to terminate the contract at the point.   

By doing this, I don't have to chase my $$ for undone jobs. 

In a seller-market, buyers raise bids over the asking price in hope to win the purchase. 

Can this technique be applied in a hot rental market (assume no rent control in place) ?  

By adding a BOYR line to the application, LLs can potentially collect more on rent. Legal ? Have you done so ?  Your thoughts?     

@Aaron Millis.  We can't control the profit outcomes of TS.  I think most investors would rather to get the redemption vs. the property (more legal steps involved)  so we can restart investment.  

You would have a bigger chance for redemption if the property is occupied. 

@Roman M. You are correct about 12 months living "rent/mortage free"  & the chance to buy at the premium wining bid + 20% - This is exactly happening to one of my purchase.

@Aaron Millis. Putting a lien on the property does not equal to having the deed to the property.  As @Bob B. mentioned, your lien would be junior . So you have to go thru the foreclosing process, pay off other liens/mortages, then you can have the deed.

The tax sale would wipe out ANY liens (IRS' has some special exceptions) /mortagages on the property.

I am holding a few tax sale deeds but can't even legally set foot on any of MY properties (per legal advise) until the barment process completed (another 45-60 days AFTER the 12 months redemption)  

When LLs are FORCED to participate, i could see these scenarios happen:

* Being extremely late or  no-show for inspection. No inspection = no approval. Game's over.

**  "Intentionally" fail inspection  and refuse to comply - start with simple things: missing outlet covers, no light bulbs, windows nailed shut, etc... Property is off the list. 

*** Run S8 applicants screening, and not follow thru - This would hurt S8 right in their pockets.

found a cast iron bathtub in the crawl basement. The puzzle part was how it got there in the first place. The entrance was 1/3 in size of the tub. 

The first impression was they build the basement around the tub ?!#@

Until we noticed all newer material of floor joists and subfloor directly over the tub. Turned out previous owner could not take the tub out thru the doors,  so he cut the floor and dropped the tub down

Thinking put a mattress next to the tub and start renting out for cheap .....

@Bernie D. There are a few things to learn about reading the listing data. 

I'm not sure how the listings work in your area. These are what I have learned from mine:

Improved parcel: lot with a structure - Most likely having a street address

Unimproved parcel: lot w/o a "current standing structure" - This could be a land lot which has never been developed (No street address) or there was a structure on the lot before, but now is demolished (still have street address)

Going back to your question about parcel ID: use GIS - Geographic Information System to locate the parcel on the map. Sometime it's tricky navigate the GIS  if using the whole parcel ID. Tips: search down to the parcel block, then manually find the actual parcel.

In eviction preceding for non payment in GA, one of those questions from the court to LL: " Have you accept ANY payment since filing ? " - if the answer is Yes, the whole case is throw out. 

E-rent payment is beautiful but can be the double edges sword, as the tenant just need to transfer $1 to LL's account.

For any E-rent payment to be considered, the LL must have the ability to STOP/REFUSE incoming payment from any giving particular transfer. This is not the case for Popmey:

Me :   I would like to know how to reject/block an incoming payment. I have been to the FAQs but none is avail. Thank you for your support !!!

PM:  Thank you for your recent inquiry on how to cancel/stop your Popmoney personal payment.

We are unable to make changes on your behalf due to security and compliance reasons. However, the sender of the payment has the ability to cancel or stop the current payment, depending on how quickly they act.