All Forum Posts by: Ed Tamayo

Most GA tech students pay anywhere from from $600 to $900 per room, so $1,250 might be high. Please note I am saying most. I am sure there are a number of them that pay well over $1,000 a month. I know about this because  I have been paying those rents for seven years now.  :)   ( And yes,  I tried a house hack at some time)

Atlanta would be an option and I am positive  that Estate and the City are working in getting them here.  

Looking forward to meeting everybody tonight

I have purchased multiple properties on tax sales on Georgia and, in at least five of them of them, the county did not properly notify the owners but were sold anyway.   Two other properties had liens and the lien holders were notified but to the wrong addresses.  

There was another case in which somebody alerted the county a few days  AFTER I purchased a property that the owner had passed away, so the county just returned my money and invalidated the sale. (which, I am told, I could have disputed).   But, it looks like the counties will sale property of deceased owners even if FIFAs can't not be legally done on the name of deceased owners.   Heirs can easily invalidate those sales.

Just two days ago I had a conversation with a former owner of yet another lot that claimed he did not get a notice of foreclosure of right to redeem, while, according to the receipt and tracking I got from the U.S. Postal Service, he actually had to go to the post office to pick  up the certified mail.  

So , to answer your question, it is entirely possible that the owner is not properly notified  and  people can easily claim not having received the notification.  

(of course, the tax sales "gurus", will not ever mention these kind of problems)

I have not found one single source that gives me the info I need. I have used find the seller.com for full searches. I use intelious at $29 per month for quick searches I also pay $49 a month for locator plus that is supposed to be top of the line. Locator plus does have current info so that's definitely a plus but, overall, I am not too happy with it. I still keep my intelious subscriptor because it gives me more information in a single screen.

The main problem with renting is that people will not pay. By taking a year up front you take that problem out of the way. And to remove any issues about accounting, make the rent for a period of one year to be paid up front. (Commercial real state and land are rented in a yearly basis so why not do it on your case as well) Finally, I rather deal with accounting issues Thani with non payment.

Hello, 

I have been investing for a couple of years and run into an opportunity and I have a situation that I suppose whole sellers see everyday:  

I will buy a house from A and I will sale it to C. (So, I will be the B in a A-B, B-C pair of transactions)

I will pay cash to A and, for simplicity, say that C will also pay me cash. ( I don't want to muddy the waters with legal issues around loans)

I want to make these closings on the same day or with very limited time in between. 

The question is: How can i legally enter into  contract with C to sale C the house if I still don't own it until the first transactions closes?

Looks like wholesalers do this all the time so please enlightening me. 

Thanks

Thanks for your concern and no, I don't feel insulted.  

Title insurance. requires two main steps:  I do the first one, (foreclosure to right to redeem) and I ask the attorney to do the second ( quit title action).  I order the Title search from the some company my attorney does. I don't do them. 

I have purchased a couple of dozens of properties on tax sales  and each foreclosure of right to redeem costs around 2K.  So while learning the process to do just one might not make sense, for the number I have, it does, at least for me.   

@Ned Carey  I am doing most of the work myself. I have already done a few foreclosures of right to redeem and that's how I can put "sweat equity" on my deals. 

Same here.  I have purchased a property on a tax sale with an SBA  loan and  i notified them to addresses that were available on the liens but I need to make sure I notify the right office. Any ideas on this?  (i tried calling and got nowhere, albeit, I am not done with it)