Hi Michael,Alabama has a unique feature when it comes to foreclosures — the statutory Right of Redemption, which can last up to 1 year after a mortgage foreclosure or 3 years in the case of a tax deed sale.Now, here’s the twist: even if the property was owned by an LLC and used as a rental investment, the right of redemption still applies, unless the entity expressly waived it in the loan documents (which is rare but worth checking).To redeem, the former owner (in this case, the LLC) would have to:-Pay the full foreclosure sale price-Add 12% annual interest (at least as of 2024)-Reimburse for any permanent improvements madeThat last part is tricky, improvements must be professionally appraised, and it’s often a complex, costly process for the redeeming party.Also interesting: property taxes paid by the purchaser during the redemption window are not reimbursed, as they're considered a benefit the interim owner received from the municipality.Now, practically speaking?

Are you getting the property at market rate or below market rate?

If anyone finds a deal that meet the criteria Jerry is looking for then contact me and I will take it and pay you 10k and you wont even have to pay anything up front.

The color of the state won’t make your deal pencil out—market mechanics will.

Hi, Alan - in that market you definitely have attractive options.

I would be happy to discuss some of the intricacies of STR in this market if that's what you're going for.

Lastly, the ARV and the target market segment will have a big impact on how you proceed with the rehab.

It's very, very difficult to find them right now, even off market. 

We made a bet: be okay with no (or negative) margins on cleaning and let high quality reviews pay dividends years later.It’s paying off. 

When someone doesn’t pay their property taxes, the county sells that tax debt to investors in the form of a certificate.