All Forum Posts by: Steve Sherman

@Wayne Brooks I heard that there is a tax lien unit within the IRS and I'm considering contacting them to get details. I believe these processes also depend on the location and whether the state and place is in judicial or non-judicial territory. 

Hello BP Fam. I recently won a bid at a Tax Deed auction in St. Louis. When the title report came back on this property, it showed a 57k IRS federal lien against this property. I can still bail on the property and get money back, but I prefer to keep it if I can. I heard that there are cases when a lien like this can be waived and cleared from the title. Does anyone have experience with this? 

@Jacob Murry I got a few policies on my multi-families in Stl through Eric Brand of Shelter Insurance. He has been amazing. Highly recommend him. I can DM you his office number if you'd like.

Hello BP Fam. I recently won a bid at a Tax Deed auction in St. Louis. When the title report came back on this property, it showed a 57k IRS federal lien against this property. I can still bail on the property and get money back, but I prefer to keep it if I can. I heard that there are cases when a lien like this can be waived and cleared from the title. Does anyone have experience with this? 

@Megan Greathouse , great mixer, great people! Happy 1-year anniversary and glad to be a part of it !

@Vivian O. The 5% down is definitely not confidence-inspiring for the sellers. However, you could insure the sellers of you being serious by submitting a much higher earnest money check. If earnest money offered by you is 5k instead of 1k, sellers would definitely see you as a much more serious buyer. And as long as there are right contingencies in place, your large amount earnest money should be protected as well. Good luck!

@Adam Rothweiler I have a few properties in STL and I understand that almost each neighborhood varies block by block. Per the Trulia crime map, your fourplex is located in a very rough area. I would try to drive around that neighborhood at night, a few nights in a row, to really get a feel of how it is, when the sun goes down. All the numbers sound great, but the property being foreclosed on multiple times, there must be a reason. In addition to the regular home inspection, I would also do a sewer lateral inspection, to make sure that the pipes are good. If there is an issue with that, it can be a crazy CapEx bill. Good luck!

@John Brinkos -- Thanks for the input. Which package did you get from simplysafe, or is there only one? Thanks