What an awesome, unselfish presentation. You will continue to be blessed for teaching others who are willing to learn and grow in this exciting and often fun game. Totally worth buying a book or two in my opinion. Thank you.
man this is great. i have bought around 300 properties at foreclosure auctions over the past 12 years. i have learned some very expensive lessons. while there are a lot more pitfalls and details, this is a good primer. and when i get outbid, it just means that somebody was willing to pay too much. good to keep that in mind.
@@bloodcuz6199 you can find property or deals for others. A broker essentially, but not needing to be licensed. You flip the paper. Find buyers, then find property. If you have legitimate letters of intent and signed contracts, you can get funding privately or through lending institutions. You're just collecting a finders fee. That's the no skin in the game way to get started. Plenty of other videos about this. Kris Krohn shows you this and other ways to buy and hold it with no $ down as well. Good luck and have fun!!
This video is packed with valuable information. No fillers. I thought I knew all about foreclosures until I watched this video. You are a great teacher.
Your real estate information presentation is the first I've been able to understand. I've listened to other people, (legends in real estate investing), and came away more confused. I hope to watch and learn. Thanks.
Thank you so much for sharing your knowledge with us. There are so many jerks out there who give a tiny bit of info and the rest of the video is all about selling their products to us, in order to get more info. You are truly awesome for sharing so much info, enabling and encouraging even the poorest of us to do something to better our lives.i have no money but am encouraged to somehow try to save up enough to buy at least a tax lien as the first move. I will be watching your videos regularly and use them to get out of my situation, get ahead, and go beyond that. Thank you again
I was once a Home Owner and had Income Property I helped out a Friend who I thought was a friend but really wasn't with a Loan dealing with real estate and lost a lot because of it. The information I learned today could have saved me my Properties. I Thank You for your educational courses on Real Estate I have learned so much in a short period of time may God truly Bless you and your Family for sharing this Awesome Information two all of us who were once lacking in thia area of knowledge.
This video has saved me from a disaster before me getting my self into a disaster! I planning to buy an auctioned fourplex worth 800,000 and priced at 500,000 and knowing none of the rules. I guess the lesson I learned is it is better to be patience and reduce risk rather than rush into a deal without knowing the rules.
Cheers for the Video! Excuse me for butting in, I would appreciate your initial thoughts. Have you researched - Ponillian Intellective Position (probably on Google)? It is a smashing one of a kind product for finding government auctions near you without the headache. Ive heard some interesting things about it and my close friend Aubrey finally got cool success with it.
This was great! I'm 25 and only recently learned about mortgages, so I've been deep diving internet research about everything else. I haven't bought a home yet, but I really want to know how to swim before jumping in the waters! You're a great teacher, thanks!
I’ve been under contract for 18 months on a property where probate wasn’t filed however the attorney is handling it. The reason I have hung on for so long is the equitable position. I’m contracted at $40k and it was previously listed for $625k. I’m plan to hold and leave it out for income for now.
Calculate Judgement amount plus auction fees and any subordinate liens that will get passed onto you when bidding If superior lien is foreclosing subordinate liens may not survive on the property but they still exist and you will have to satisfy them for a clean title if you want to sell in future or don't want them foreclosing on you. Thats my understanding. Perhaps someone could shed some light :) Great video! Lots of good info . Thank you!
Yeah I would like to add, just that it would be worthwhile to buy one of your books and check it out. You're doing a great job and a service in my opinion. Thank you.
Thnks for the knowledge, brother, this is exactly what I'm doing biznes in now.. Even tho what your saying confirms what I already knew.. I also pickd up a lot More jewels you mentioned.... I will be buying your books as well, jus bcuz of your personality and willingness to share valuable info.. 🤙👍
great information ... so glad I found you .. have my deposit and I was getting ready to start bidding here in a couple days .. I was wondering about the right of redemption and a lot of things you talk about
hey phil,...nice mohawk..ha. great video,im trying to fiqure out my bid. its a tax deed propertie. i missed the last one i bid on by 2ooo.. . im retired and a very good rehabber,this thing is a real pig.. i mean diamond in the rough. i hope i can get it. thanks again
Well I had my eye on a property and I did some digging found out that the house was sold about 10 years ago and it was never resold it's not up for auction it's not behind on any taxes yet the property is empty what else can I do to get more information on this? place cuz I really want to purchase it possibly personally for me or just an investment property I don't know yet.
Vic, Sometimes you have to be creative and be your own detective. I wanted to purchase a lot adjacent to my property. First place I looked up was the property tax office(on line). It gave me the name and address of the current owners. I sent a certified letter to the address listed on the tax records, notifying the current owners of my intent, but the letter came back undeliverable. My next stop was the good ole Facebook. I looked up the owners (more like trolled) and learned that they live outside the US and owned a business. Since their Facebook was set to private I wasn't able to contact them that way. I successfully contacted the lot owners via their email address listed on their business website. The rest is history. Think outside the box. You'd be surprised how much of a foot print we leave all over the world wide web and social media.....kinda scary if you really think about it😳
There is a foreclosure in my area that I'm interested in (70461). $79900 is owed on it + it needs light repairs could run around $15k max. The value of the home is between $133k-$140k (which is too close to the asking price). I will have to put a septic tank in (which is $2k & was added to repair cost) I Iike the house but I'm annoyed because the lender won't negotiate price. Its a double & can rent for $825 per unit. Thanks for the video by the way! You're awesome.
Superb informative video my man ! Thanks for sharing !! Please also give the viewers heads up when buying a prop. when the HOA owes money or it has a credit line which will turn into a loan resulting Into the same thing, HOA owes money therefore you (new home owner) owes thousands $$$ money overnight
man i just found your channel, i will start watching some more of your vids. i like the way you explain things and narrate stuff, you got me juiced for the bidding wars!
Phil, how do I do my own Title Search? I would like to do my own and hire an attorney to do the actual one? I loved your video and I shall continue to learn and grow. Thank you from Kelly Syracuse NY
Many times I will knock on the neighbors door introduce myself and ask a lot of questions...Neighbors are a wealth of information. I also go the city building dept and request permits in the last 5 years...hot water tanks, HVAC system, additions, roofs,,, helps understand the age and condition.
Do you recommend any title search company online? Also do you recommend a full title search or is a o&e search sufficient. how do you find the unrecorded leins/ municipal liens and hoa fees that may be behind. Thanks so much for all your videos. My wife and I have been studying them all for a while now and just want to get to a place where we can have time together as a family with our kids and not be worried about money . We are hoping to get our first deal started real soon .
Full title search because I require the title company provide me with a Title Commitment. And my title company searches all municipal liens as well as ordering an Estoppel to get the HOA details.
Hi, I'm just starting to take interest in this area of real estate . I wanted to start in the beginning, just wanted to ask what you recommend I do to get started. And what you have available for people like me that want to get started. Thank you
Great Video! When buying a foreclosure, when do I first try to get insurance on the property. Will I have to wait until I have possession of the property?
Bookmarked, great overview with lots of info without the fluff. I'm tired of the You Tubes with 45 seconds of fancy intro graphics and music (do they get paid more for that?). You properly mentioned importance of due diligence, but only briefly mentioned HOA. I'm just looking into this, but I'm going to stay away from those creeps - I'd rather the risk of a mold infested, roof wasted, crack house, than some HOA Nazis telling me I'm not allowed to paint, repair, modify, plant flowers..they are scumbags.
Thank you ! Great video! Im in Florida and am wanting to get into investing. Is there a specific website you go to look at what properties will go to auction?
Hi Phil thanks for the video, and I appreciate all the knowledge you pass on through to all of your viewers. So I want to purchase a property thru a tax deed sale, I see how you and everyone on the internet advise to get a title search on the property. The problem is that the property goes to auction the 4.19.17 which is 2 days from now, and all title companies seem to take 3-4 business to get you results. What would you advise for someone in my situation (btw this will be my first auction sale)?
Great video Phil, I have watched some of your videos and they are great, quick question I have passed by a particular area where there are some empty houses one had a number and call the guy who owns the house at the time say to me that he had sold the house the house still empty how can I know who is the current owner of the property. If you please lead me in the right direction would be awesome. many thanks in advance. The property is in New Jersey by the way.
my goodness this was some great information. you see im the home owner and me and my wife are going thru a divorce. im a college grad so i dipped my toes in finance and real estate and was held in contempt during the case but they let me out and i still had the house. weeve been back to court 3 times for the house and i felt it that they were going to hold me in contempt again. so the secret warrents didnt stick and then i found the sec file number and started to fallow the story. i found out everything they did and the video game company they made and all the investers doing there 7 hour thing on me.. ive been going pro se this whole time and from man to man father to tather if you have a kid.. well i havent seen my baby girl in since october and its april already and with the prejudgment intrest my wife got i cant see my baby because they where expecting to lock me up . well they put it on the paperwork and passed it as valid because i didnt show up to the hold me in contempt at 4pm court hearing yea right who goes to court at 4pm and they have only what the minicple advisers told them under the table and made there judgement, now im free but in jail because i cant see my baby. what you investers dont understand is you get a surety and the guys job is to make sure im doing what im not suppose to be doing. yea its my choice i dont have to but hey your kids no where in site so its like a vacation you just lost your job because the first contempt so what the heck indulge a little they are your friends they care about you . yall are commiting crimes together doing favors for eachother the whole 9 yards of a freindship turns out hes the bond guy who your wife hired to get you out of the house. wait a minute its the new property owner getting the warrent. he buys it for cheap because my ex wife sold something that wasnt all hers. just recently the title company changed and when i asked how long they owned the title she took a while to say "that info you can just log in and find it online.. well i was ORDERED to sell the house in 30 but that was a year ago. now all of a sudden the 2nd realtor the court had to give us because the first guy quit. (what can i say im no pushover and i love my daughter so this aint no game to me) man they got my mom involved and everyone is listening to what the bond municpal informants said about me. but they need to realize they had to entrap me or otherwise i would not have been doing what they said i was. if i had my baby in my life i would not have been doing what they said i was. i was saying no and they were saying yes bacause thats what they were hired to do. now that i doged one bullet somebody still has my house and wants me out but i know i can proove they shouldnt have my house and possibly live in it for the rest of my life and give it to my daughter for free!! now that my wife has sold it illegaly. i need to prove it can you help my man. atleats email me and ill tell you the video game tag. very interesting to say the least.. reperez40 at yahoo cokm 2102698252 text are ok.. please i need your help. im trying to use the house as leverage so she can let me see my daughter. because the judgement was totally unfair. i cant loose my house and not be able to see my daughter!!
I got a quick question. I found a foreclosed home going to auction. The opening bid is one tenth of its appraisal value and this house has gone to auction 2 times before and bought back by the owner. Should I even put my time into going to the auction if the owner keeps finding ways to buy it back?
I really appreciate all your tips. I am interested in Tax Sales , do you have any tax sale books and tax sales attorney that you can refer, doesn't matter the state. Or how to find a tax sales attorney. Thank you so much for the awesome information.
Contact the largest real estate law firms in your general region and ask if they have anyone in their staff that specializes in foreclosure and tax deed sales
I have a question about the actual auction...I am working with an investor who wants me to go to the auctions and bid on his behalf and then he would provide the money for the property. Can that be done or do I have to have the money in hand? Thanks.
The duplex I live in is going I to forclosure .There is an auction date set .Can I still convince my landlord to sign the house over to us and we pay his mortgage ,making us the home owners and him benefiting buy us paying his debt and mortgage ,or is it to late to even try seeing there has been an auction date allready set?
Hi, new to all of this. So say your bid gets accepted... in order to get around "Right of redemption" and those other lawsuits. Could you negotiate the amount of time before you wire your money into escrow? So like you said for example that guy who came back and claimed the house that the other guy had already started working on, within that 7 day time frame. Could you negotiate with the county or the bank to accept some sort of multi day escrow to get around all of that?
This is great knowledge!! Great way of explaining things!..but I have concerns could there be multiple investors buying delinquent taxes of different years on one property??? and have you heard of a investors passing over “Selling” there delinquent tax certificate they obtain of a delinquent tax property to another investor? Please throw some of your wise knowledge this way!!..
Thank you for assuring this process!! I wanted to become owner to a property that has 3 tax liens by different investors by taking over the senior lien paying out the senior lien and interest and then paying out the remaining liens....but also making sure there’s no redemption dates already in place I live in Chicago so redemptions time I believe is 2yrs BUT iam not sure. I just hope iam not throwing myself in a big headache or “mess” by doing so! since iam new at this process I came across your videos and got me thinking...Do you have any recommendations on videos to inform myself in this case or any suggestions? Look forward to reading your recommendation? Please keep the videos coming they are so informative there great!
I have a question if the title documents and home condition disclosure if provided in auction.com by the county or mortgager how much can I rely on thier documents provided by them. And what is a subject to defiency judgment sale? Thanks
I have been burned one time by Auction.com. They auctioned a house to me that had been sold/transfered only two days before. Granted it was the trustee that approved the sale, but it was on auction.com. I didn't lose any money as I got a refund but I could have made good money on the property.
So in theory auction buying is better because all loans are hashed out. What about liens on titles ? If I buy off auction will I be responsible for the lien on the title? Even after buying out of auction? Thansk
There are many components to running a cleaning business. One resource I found which succeeds in merging these is the Agelmar Closure Clear (check it out on google) without a doubt the most helpful guide that I have ever seen. look at the great info.
Cheers for this, been searching for "bank of america owned real estate" for a while now, and I think this has helped. Have you ever come across - Qenten Forecloseify Discovery - (do a google search ) ? Ive heard some extraordinary things about it and my buddy got amazing results with it.
Hello. Do you know which websites contain lists of houses that will be auctioned in each state? Does the prefectures or the state make these lists available?
Great video!!!! Quick question on something you didnt cover. I usually go for properties that arent under homestead. Because if its homestead you have to give the people living there 2 years before you can sell the property and make money. So what is the best way to approach this?
I don't understand your question? If a seller sells you their property, whether homesteaded or not, once you own it, you can sell it. Why give them 2 extra years?
@@freedom_mentor i looked more into it. In texas if the property you win at auction is homestead the redemption period for the person is 2 years. So they can buy it back at any moment during that time. But if its not homestead the redemption period is only 6 months.
Hi Phil, could you please have a class with details for due diligence. For example, many people have found hardship of understanding the title reports from different companies. Different title reports use different key languages. There many free title insurance documents are attached the sale, but most of them are pretty confusing about how much the property owe exactly. We need help figuring out how much it might cost to clear the lien. Thank you.
You’re a good person, truly handing out knowledge. No game
What an awesome, unselfish presentation. You will continue to be blessed for teaching others who are willing to learn and grow in this exciting and often fun game. Totally worth buying a book or two in my opinion. Thank you.
fuck your games im in the middle of one and found all this out now am going to do all i can to fuck it up for the spectator who is using me as a sport
@@ireyreyiii7023 What do you mean?
@@ireyreyiii7023 ?!! What in the world are you talking about?
Eu não tenho ideia de que horas ❤❤❤❤ e ❤❤❤❤❤❤❤❤
Cant stop watching the guy, He's Great. Im in for 8 hrs n not stopping. Thanks Phil
Still relevant high-quality advice. Thanks Phil.
Thanks for watching!
man this is great. i have bought around 300 properties at foreclosure auctions over the past 12 years. i have learned some very expensive lessons. while there are a lot more pitfalls and details, this is a good primer. and when i get outbid, it just means that somebody was willing to pay too much. good to keep that in mind.
Eric Pinter how can I get my foot in the door with little money??
Can’t buck up and find ways to save no shortcuts
@@bloodcuz6199 you can find property or deals for others. A broker essentially, but not needing to be licensed. You flip the paper. Find buyers, then find property. If you have legitimate letters of intent and signed contracts, you can get funding privately or through lending institutions. You're just collecting a finders fee. That's the no skin in the game way to get started. Plenty of other videos about this. Kris Krohn shows you this and other ways to buy and hold it with no $ down as well. Good luck and have fun!!
This video is packed with valuable information. No fillers. I thought I knew all about foreclosures until I watched this video. You are a great teacher.
Your real estate information presentation is the first I've been able to understand. I've listened to other people, (legends in real estate investing), and came away more confused. I hope to watch and learn.
Thanks.
his energy and personality got me real pump and ready to BID NOW lol!!
Thank you so much for sharing your knowledge with us. There are so many jerks out there who give a tiny bit of info and the rest of the video is all about selling their products to us, in order to get more info. You are truly awesome for sharing so much info, enabling and encouraging even the poorest of us to do something to better our lives.i have no money but am encouraged to somehow try to save up enough to buy at least a tax lien as the first move. I will be watching your videos regularly and use them to get out of my situation, get ahead, and go beyond that. Thank you again
3:53 was so motivational! Thank you, attending my first auction tomorrow!!!
I was once a Home Owner and had Income Property I helped out a Friend who I thought was a friend but really wasn't with a Loan dealing with real estate and lost a lot because of it. The information I learned today could have saved me my Properties.
I Thank You for your educational courses on Real Estate I have learned so much in a short period of time may God truly Bless you and your Family for sharing this Awesome Information two all of us who were once lacking in thia area of knowledge.
This video has saved me from a disaster before me getting my self into a disaster! I planning to buy an auctioned fourplex worth 800,000 and priced at 500,000 and knowing none of the rules. I guess the lesson I learned is it is better to be patience and reduce risk rather than rush into a deal without knowing the rules.
That is definitely the lesson. I'm thrilled you were saved from a complete disaster.
Found the open window?
Cheers for the Video! Excuse me for butting in, I would appreciate your initial thoughts. Have you researched - Ponillian Intellective Position (probably on Google)? It is a smashing one of a kind product for finding government auctions near you without the headache. Ive heard some interesting things about it and my close friend Aubrey finally got cool success with it.
@@freedom_mentor How do bidders win the auction if the final bid is below the judgment amount? Does this mean it gets put back to auction? Thank you
Even though this is an older video I just became a subscriber because you are still making videos and helping people out.
For that I say thank you.
Woww, thank so much for guide us , save us time, $ and Headaches. You are great!
This was great! I'm 25 and only recently learned about mortgages, so I've been deep diving internet research about everything else. I haven't bought a home yet, but I really want to know how to swim before jumping in the waters! You're a great teacher, thanks!
First of all thank you for the sound of the video!
FINALLY: Someone who has time and will to explain every single phrase - word and situation !! THANK YOU !!
Thanks for the info. I planing on going to my first Judicial Sale with 20,000. Trying to do enough research before I go.
I’ve been under contract for 18 months on a property where probate wasn’t filed however the attorney is handling it. The reason I have hung on for so long is the equitable position. I’m contracted at $40k and it was previously listed for $625k. I’m plan to hold and leave it out for income for now.
Thanks Phil for the wealth of information. Knowledge is power!
Thank you as a 1st time home buyer I'm trying to weigh all my options.
Hey Phil, Signed up to my first auction, great tips especially the one" KNOW YOUR MAX BID " going in with added knowledge. Thank you.
John Supervita did you have to put up your own funds or you jv with another investor??
@@haeaneuhila4618 using my own capital.
This is some very clear and easy understandable information. Thanks for sharing.
Thank you Phil for the "signal" in giving all these wonderful white board lectures, it is greatly appreciated!
Calculate Judgement amount plus auction fees and any subordinate liens that will get passed onto you when bidding If superior lien is foreclosing subordinate liens may not survive on the property but they still exist and you will have to satisfy them for a clean title if you want to sell in future or don't want them foreclosing on you. Thats my understanding. Perhaps someone could shed some light :)
Great video! Lots of good info . Thank you!
This a great video. I especially liked the explanation of what to do in the first 7-hours.
Agreed...Another incredible video. Right of redemption shocked me. Never factored that into my plans for tax deeds.
I want to purchase my first home this way.Free and Clear.
Yeah I would like to add, just that it would be worthwhile to buy one of your books and check it out. You're doing a great job and a service in my opinion. Thank you.
Thank you! Were you able to read the book yet?
I am in Canada and I am interested in doing this so I am very thankful for your video. Awesome information. More power to you!
Thnks for the knowledge, brother, this is exactly what I'm doing biznes in now.. Even tho what your saying confirms what I already knew.. I also pickd up a lot More jewels you mentioned.... I will be buying your books as well, jus bcuz of your personality and willingness to share valuable info.. 🤙👍
MVP... Most valuable Phil 💯
great information ... so glad I found you .. have my deposit and I was getting ready to start bidding here in a couple days .. I was wondering about the right of redemption and a lot of things you talk about
hey phil,...nice mohawk..ha. great video,im trying to fiqure out my bid. its a tax deed propertie. i missed the last one i bid on by 2ooo.. . im retired and a very good rehabber,this thing is a real pig.. i mean diamond in the rough. i hope i can get it. thanks again
Well I had my eye on a property and I did some digging found out that the house was sold about 10 years ago and it was never resold it's not up for auction it's not behind on any taxes yet the property is empty what else can I do to get more information on this? place cuz I really want to purchase it possibly personally for me or just an investment property I don't know yet.
Vic,
Sometimes you have to be creative and be your own detective. I wanted to purchase a lot adjacent to my property. First place I looked up was the property tax office(on line). It gave me the name and address of the current owners. I sent a certified letter to the address listed on the tax records, notifying the current owners of my intent, but the letter came back undeliverable. My next stop was the good ole Facebook. I looked up the owners (more like trolled) and learned that they live outside the US and owned a business. Since their Facebook was set to private I wasn't able to contact them that way. I successfully contacted the lot owners via their email address listed on their business website. The rest is history.
Think outside the box. You'd be surprised how much of a foot print we leave all over the world wide web and social media.....kinda scary if you really think about it😳
There is a foreclosure in my area that I'm interested in (70461). $79900 is owed on it + it needs light repairs could run around $15k max. The value of the home is between $133k-$140k (which is too close to the asking price). I will have to put a septic tank in (which is $2k & was added to repair cost) I Iike the house but I'm annoyed because the lender won't negotiate price. Its a double & can rent for $825 per unit. Thanks for the video by the way! You're awesome.
Phil you are so funny! I love how you are passionate about this! So informative and helpful. Thank you!
The best in the game! Thank you for what you do Phil.
Appreciate that!
Superb informative video my man !
Thanks for sharing !!
Please also give the viewers heads up when buying a prop. when the HOA owes money or it has a credit line which will turn into a loan resulting Into the same thing, HOA owes money therefore you (new home owner) owes thousands $$$ money overnight
I have a whole video on that topic: ruclips.net/video/F62gBeB_Pd4/видео.html
Buying a townhouse or condo is like renting a apartment🥴🤦♀️😩💰Thank you
Kinda, but you get more than your deposit back when you move and sell. How come you say that?
You are a real good teacher bro 💯
man i just found your channel, i will start watching some more of your vids. i like the way you explain things and narrate stuff, you got me juiced for the bidding wars!
Just subscribed. Gonna play at auctions until note buying comes back around!
Phil thank you for such informative video. I look forward to viewing your other videos.
this video was a great recomfirmation for me, and I learned some new things we always had questions on (Judicial vs Non-Judicial minimal bid) Thanks!
Excellent information - Thank you Phil.
Phil, Your video is so helpful, thank You for posting that video
Phil, how do I do my own Title Search? I would like to do my own and hire an attorney to do the actual one? I loved your video and I shall continue to learn and grow. Thank you from Kelly Syracuse NY
Watch this video: ruclips.net/video/6p5opEuswPg/видео.html
I see your ploy, scare away the competition! But seriously great info and very honest I can tell you really love this stuff.
Many times I will knock on the neighbors door introduce myself and ask a lot of questions...Neighbors are a wealth of information.
I also go the city building dept and request permits in the last 5 years...hot water tanks, HVAC system, additions, roofs,,, helps understand the age and condition.
GREAT PRESENTATION, WILL KEEP WATCHING YOU! THINKING OF GETTING INTO IT!
What should the percentage be between the opening bid and the value/condition? In your example you did a 100% markup.
Offer an amount that might knock out others who want to start ultra low.
Wonderful info, thank you for doing what you do. You save more ppl than you may realize. Much appreciated
Do you recommend any title search company online? Also do you recommend a full title search or is a o&e search sufficient. how do you find the unrecorded leins/ municipal liens and hoa fees that may be behind. Thanks so much for all your videos. My wife and I have been studying them all for a while now and just want to get to a place where we can have time together as a family with our kids and not be worried about money . We are hoping to get our first deal started real soon .
Full title search because I require the title company provide me with a Title Commitment. And my title company searches all municipal liens as well as ordering an Estoppel to get the HOA details.
Thank you for the reply! Is there any place you recommend? Maybe online ? We are in central florida. Thanks again
Great video! Straight to the point, easy to follow. Thank you!
No one talks about this stuff!! Thanks
Thought maybe you would cover eviction if the property you won happens to be occupied.
This type of eviction(as are most evictions) is state specific so he may have skipped it for this reason.
Very good excellent info Phil!thank you!
Hey there, i have to call you Professor, you are a great teacher.
Hi, I'm just starting to take interest in this area of real estate . I wanted to start in the beginning, just wanted to ask what you recommend I do to get started. And what you have available for people like me that want to get started. Thank you
Get started here: ruclips.net/video/mcbTb3vESmk/видео.html
Great Video! When buying a foreclosure, when do I first try to get insurance on the property. Will I have to wait until I have possession of the property?
Yes.
Thanks alooooot for sharing this Million Doallar information..... espacially those personal experiences... Thank you.
Hey Tom,
How do you get ahead when there is so much competition.
Know more than the competition
Love it already ..And I wish you the best of luck and may many good things come your way !
Loved this vid. Will be watching more
VERY helpful information. Gracias! Good to know exactly how to sharpen the axe.
Bookmarked, great overview with lots of info without the fluff. I'm tired of the You Tubes with 45 seconds of fancy intro graphics and music (do they get paid more for that?). You properly mentioned importance of due diligence, but only briefly mentioned HOA. I'm just looking into this, but I'm going to stay away from those creeps - I'd rather the risk of a mold infested, roof wasted, crack house, than some HOA Nazis telling me I'm not allowed to paint, repair, modify, plant flowers..they are scumbags.
Amen! You'll love this video too: ruclips.net/video/F62gBeB_Pd4/видео.html
Thank you ! Great video!
Im in Florida and am wanting to get into investing. Is there a specific website you go to look at what properties will go to auction?
Each county has their own site that you go to. For Volusia County, it is volusia.realforeclose.com and volusia.realtaxdeed.com
Osceola County..
AMAZING INFO...I really Appreciate all of your knowledge phil
Hi Phil thanks for the video, and I appreciate all the knowledge you pass on through to all of your viewers. So I want to purchase a property thru a tax deed sale, I see how you and everyone on the internet advise to get a title search on the property. The problem is that the property goes to auction the 4.19.17 which is 2 days from now, and all title companies seem to take 3-4 business to get you results. What would you advise for someone in my situation (btw this will be my first auction sale)?
Don't buy it without a title search.
I like this type of explanation
Thank you
You're welcome!
Hello, thank you for sharing this information. How can I research a property for liens in New Mexico?
Great video Phil, I have watched some of your videos and they are great, quick question I have passed by a particular area where there are some empty houses one had a number and call the guy who owns the house at the time say to me that he had sold the house the house still empty how can I know who is the current owner of the property. If you please lead me in the right direction would be awesome. many thanks in advance. The property is in New Jersey by the way.
Watch this video: ruclips.net/video/7puMt3GUoHE/видео.html
my goodness this was some great information. you see im the home owner and me and my wife are going thru a divorce. im a college grad so i dipped my toes in finance and real estate and was held in contempt during the case but they let me out and i still had the house. weeve been back to court 3 times for the house and i felt it that they were going to hold me in contempt again. so the secret warrents didnt stick and then i found the sec file number and started to fallow the story. i found out everything they did and the video game company they made and all the investers doing there 7 hour thing on me.. ive been going pro se this whole time and from man to man father to tather if you have a kid.. well i havent seen my baby girl in since october and its april already and with the prejudgment intrest my wife got i cant see my baby because they where expecting to lock me up . well they put it on the paperwork and passed it as valid because i didnt show up to the hold me in contempt at 4pm court hearing yea right who goes to court at 4pm and they have only what the minicple advisers told them under the table and made there judgement, now im free but in jail because i cant see my baby. what you investers dont understand is you get a surety and the guys job is to make sure im doing what im not suppose to be doing. yea its my choice i dont have to but hey your kids no where in site so its like a vacation you just lost your job because the first contempt so what the heck indulge a little they are your friends they care about you . yall are commiting crimes together doing favors for eachother the whole 9 yards of a freindship turns out hes the bond guy who your wife hired to get you out of the house. wait a minute its the new property owner getting the warrent. he buys it for cheap because my ex wife sold something that wasnt all hers. just recently the title company changed and when i asked how long they owned the title she took a while to say "that info you can just log in and find it online.. well i was ORDERED to sell the house in 30 but that was a year ago. now all of a sudden the 2nd realtor the court had to give us because the first guy quit. (what can i say im no pushover and i love my daughter so this aint no game to me) man they got my mom involved and everyone is listening to what the bond municpal informants said about me. but they need to realize they had to entrap me or otherwise i would not have been doing what they said i was. if i had my baby in my life i would not have been doing what they said i was. i was saying no and they were saying yes bacause thats what they were hired to do. now that i doged one bullet somebody still has my house and wants me out but i know i can proove they shouldnt have my house and possibly live in it for the rest of my life and give it to my daughter for free!! now that my wife has sold it illegaly. i need to prove it can you help my man. atleats email me and ill tell you the video game tag. very interesting to say the least.. reperez40 at yahoo cokm 2102698252 text are ok.. please i need your help. im trying to use the house as leverage so she can let me see my daughter. because the judgement was totally unfair. i cant loose my house and not be able to see my daughter!!
I got a quick question. I found a foreclosed home going to auction. The opening bid is one tenth of its appraisal value and this house has gone to auction 2 times before and bought back by the owner. Should I even put my time into going to the auction if the owner keeps finding ways to buy it back?
Depends
How does this work? How can the owner buy it back? Do they payoff the back payments and penalties???
I really appreciate all your tips. I am interested in Tax Sales , do you have any tax sale books and tax sales attorney that you can refer, doesn't matter the state. Or how to find a tax sales attorney. Thank you so much for the awesome information.
Contact the largest real estate law firms in your general region and ask if they have anyone in their staff that specializes in foreclosure and tax deed sales
Question: Is the assess value of the tax deed sale base on the bid amount of winning bid or previous owner’s record or other value? Thanks
Tax Assessor's valuation of the house.
I have a question about the actual auction...I am working with an investor who wants me to go to the auctions and bid on his behalf and then he would provide the money for the property. Can that be done or do I have to have the money in hand? Thanks.
It depends on the county. Some counties require the cash within 1 hour of winning the auction. Others give you 12 - 24 hours.
The duplex I live in is going I to forclosure .There is an auction date set .Can I still convince my landlord to sign the house over to us and we pay his mortgage ,making us the home owners and him benefiting buy us paying his debt and mortgage ,or is it to late to even try seeing there has been an auction date allready set?
Do you have the potentially tens of thousands to catch up the back payments? If so, then maybe.
Did you end up purchasing the duplex?
No, we lived there rent free for like 3 years...n then I baught the house next door,my friend gave me a smoking deal!!!
Great video, thanks for the info.
who do u think is a good agency to get a title background check.
A local title company that many other real estate professionals in your local area recommend working with.
Hi, new to all of this. So say your bid gets accepted... in order to get around "Right of redemption" and those other lawsuits. Could you negotiate the amount of time before you wire your money into escrow? So like you said for example that guy who came back and claimed the house that the other guy had already started working on, within that 7 day time frame. Could you negotiate with the county or the bank to accept some sort of multi day escrow to get around all of that?
Nope. There is no negotiating when it comes to the rules of a foreclosure auction.
This is great knowledge!! Great way of explaining things!..but I have concerns could there be multiple investors buying delinquent taxes of different years on one property??? and have you heard of a investors passing over “Selling” there delinquent tax certificate they obtain of a delinquent tax property to another investor? Please throw some of your wise knowledge this way!!..
Yes, that happens all the time. Yes, some tax lien buyers pass over their rights to foreclose to the next tax lien certificate owner in line.
Thank you for assuring this process!! I wanted to become owner to a property that has 3 tax liens by different investors by taking over the senior lien paying out the senior lien and interest and then paying out the remaining liens....but also making sure there’s no redemption dates already in place I live in Chicago so redemptions time I believe is 2yrs BUT iam not sure. I just hope iam not throwing myself in a big headache or “mess” by doing so! since iam new at this process I came across your videos and got me thinking...Do you have any recommendations on videos to inform myself in this case or any suggestions? Look forward to reading your recommendation? Please keep the videos coming they are so informative there great!
Hire a local attorney who has experience counseling investors of tax lien purchases.
I have a question if the title documents and home condition disclosure if provided in auction.com by the county or mortgager how much can I rely on thier documents provided by them. And what is a subject to defiency judgment sale? Thanks
Rely on none of it. Do your own independent research.
I have been burned one time by Auction.com. They auctioned a house to me that had been sold/transfered only two days before. Granted it was the trustee that approved the sale, but it was on auction.com. I didn't lose any money as I got a refund but I could have made good money on the property.
Thanks for a good information.
just AWESOME I am 19 planning to get a house by the end of this year
Amazing video, thank you Phil.
Great Video. Your a Great Teacher .
Thank you
Do you have any advice or maybe a video on formulating a bid on a FHA foreclosure, AKA HUD home?
Nice video, I am learning. I want to know how to understand how to look up in google for the parcel numbers given by the county where I want to buy
Great question! This video shows you how to do this: ruclips.net/video/6p5opEuswPg/видео.html
So in theory auction buying is better because all loans are hashed out. What about liens on titles ? If I buy off auction will I be responsible for the lien on the title? Even after buying out of auction? Thansk
Talk to an attorney that represents investors that buy properties at auction. Not all liens magically go away from a foreclosure sale.
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Cheers for this, been searching for "bank of america owned real estate" for a while now, and I think this has helped. Have you ever come across - Qenten Forecloseify Discovery - (do a google search ) ? Ive heard some extraordinary things about it and my buddy got amazing results with it.
Hello.
Do you know which websites contain lists of houses that will be auctioned in each state?
Does the prefectures or the state make these lists available?
Each County to which auctions are being held publicly displays the list of properties going to auction. Every county has a different website
@@freedom_mentor thanks.
I entered some sites, but it is not easy to find the list of properties.
Great video!!!! Quick question on something you didnt cover. I usually go for properties that arent under homestead. Because if its homestead you have to give the people living there 2 years before you can sell the property and make money. So what is the best way to approach this?
I don't understand your question? If a seller sells you their property, whether homesteaded or not, once you own it, you can sell it. Why give them 2 extra years?
@@freedom_mentor i looked more into it. In texas if the property you win at auction is homestead the redemption period for the person is 2 years. So they can buy it back at any moment during that time. But if its not homestead the redemption period is only 6 months.
All the more reason not to buy a property from a foreclosure auction @@Mexicanpepper
Hi Phil, could you please have a class with details for due diligence. For example, many people have found hardship of understanding the title reports from different companies. Different title reports use different key languages. There many free title insurance documents are attached the sale, but most of them are pretty confusing about how much the property owe exactly. We need help figuring out how much it might cost to clear the lien. Thank you.
I provide that training for my Apprentices; it's over an hour on how to understand a Title Commitment.
Phil!!! You are awesome!!!
Does this act also applies to a timeshare property???
very informative. Thank you
Thank you for sharing all these great information.
great video... i always learn something from your posts.