All Forum Posts by: Lance Marshall
Lance Marshall has started 12 posts and replied 36 times.
Post: Buying Tax Liens-Indiana
- Investor
- Franklin, IN
- Posts 46
- Votes 12
TY
Post: Brrrr method questions
- Investor
- Franklin, IN
- Posts 46
- Votes 12
Considering using the BRRRR strategy with my HELOC for initial purchase from Sherriffs Sale. Will this alleviate the seasoning issue? Thanks.
Post: Buying Tax Liens-Indiana
- Investor
- Franklin, IN
- Posts 46
- Votes 12
Dennis-just to make sure I understand, even though I profit 10 percent, I pay no taxes on the profit? My math was I put down 6,000, they redeem in 5 months, I make $600. I don't have to pay taxes on the $600 profit? Thanks-sorry if this is confusing.
Post: Buying Tax Liens-Indiana
- Investor
- Franklin, IN
- Posts 46
- Votes 12
Is the tax lien worth the investment in Indiana-if it redeems at 10% aren't you then liable for the subsequent income taxes?
Post: Using HELOC to purchase at Sherriff's Sale then RE-FI
- Investor
- Franklin, IN
- Posts 46
- Votes 12
Thanks. I currently have some rentals and have flipped one and sold another one on lease option. Looking to continue to grown the business. HELOC seemingly would give me enough cash on hand to buy at sheriff sale. I'm in Johnson County-thanks for sharing the link and for the excellent response.
Post: Using HELOC to purchase at Sherriff's Sale then RE-FI
- Investor
- Franklin, IN
- Posts 46
- Votes 12
I'm considering using HELOC on personal residence to purchase discounted properties at Sherriff sale using BRRRR strategy. Any major concerns with this strategy? Would like to buy at a discount so I could qualify for mortgage, reload the HELOC and move on to the next. Thanks.