All Forum Posts by: Lindsey Johnson

Hey @Dylan Kerwin ,

As other indicated, this strategy is not new. Of course there is a way to be predatory about it, but there is always a way to provide genuine value to people in this situation. One way is a lease option. I would advise 2 years or more for the buyer to exercise the option, however. This gives them enough time to save and fix their credit. Otherwise, in the case of a 6 month lease option, it may be considered predatory as they would not be in much of a different financial situation. Tax liens are a great niche, though, and I think you can truly help people and make some money too! Check out Allan Susoeff of askalhow - he is a great resource on this topic. He has a 6 free 6 part course on how to do this strategy well. Good luck! 

Great insight and content from everyone here! I am in the process of seeking guidance as to whether or not an LLC is necessary for my acquisitions venture as well. I have been referred to Prime Corporate Services for a consultation/informational meeting. They have helped other investors that I know get everything necessary set up and for a nominal fee. The first call is free. Might be good to look into!

Hey @Alain Pierre Crego , I sent you a DM. Let's get this deal done!

Hey BP,

My partner and I are door knocking, cold calling, texting, and sending mail to distressed home owners in San Diego. We are seeing an influx of foreclosure, leading to more appointments and motivated sellers. If you would like to have property that we have under contract sent to your mailbox, please DM with me your email address! 

@Nathan Williams

That is all assuming that you are trying to dupe someone into working with you. Sounds like a terrible business model. There are legitimate circumstances where quick cash is absolutely the best course of action. Foreclosure, tax delinquency, inheritance with liens attached, big capital expenditures needed, etc. I would target this audience and provide real value, not try to find an uncle to "finesse". 

@Eliott Elias

@Brett Goldsmith @Eliott Elias @Yolanda Columbus

Here is some more info:

NOD date was 9/16/22

Tried covid forbearance, but since she was tax delinquent they wouldnt offer it to her

Payoff: 101k, Conventional loan, $700 principle and interest/mo with Coldwell Banker

Arrears: 21k

As-Is value: 310k

Rehab: 35k

ARV: 350k

Rents for: 2k/mo

State: CA

@Brett Goldsmith Her goals are to get out of arrears and credit debt and tax debt. She is worried that if she sells and gets a lump sum, she will spend it foolishly (which her history indicated is a valid concern). I have not pulled a title report yet, we have only have one appointment, but have a follow up Tuesday. Ballpark, I think she owes around 100k. I want to have a solid offer to present by Tuesday. 

@Eliott Elias 

By "see what the home is worth now" do you mean get it appraised or simply run comps on it? Either way, I agree - I presented a subject to acquisition to her, just need to get the terms dialed in. Any advice on what terms to offer?

Yes the seller is open to subject to. That is the route I am thinking may make the most sense. Any advice?