Vacant Property

General Real Estate Investing
1

I have found a vacant property. But when I look up the county records on the property it lists a tax service company in IL as the tax address. (I’m in Ohio). So…

  1. What does this mean?
  2. Would they be the ones to contact?

Also, I noticed in the county tax records that the taxes have not been paid in 2 years. (There is about $3500 owed) Is there anything that I can do with this property? Thanks :help

2

A tax service company is named on the county records and the taxes haven’t been paid in two years! Wow, time to find a new service company. Perhaps you can contact the service company and see if they will provide any details. You could also look through the county records at the recorded property deeds to get an idea of previous owners, maybe one of them can clue you into the current owners.

3

Jes, i’m sure there’s a good explanation as most counties in OH require tax liens to be purchased by one large corporation as a book purchase. The property could be held up in foreclosure, most likely, and keep the back taxes until someone comes by and makes an offer…

I know your market.

Let me know if you need help analyzing the parcel.

4

jesmar424,

We Ohioans are proud to be #1 in the nation in foreclosures. Is it really necessary to chase down out-of-town owners to find a good deal? I am actively working 11 deals right now (in addition to the 4 apartment buildings that we’re adding at the end of the month), not one of which I had to chase down. The vast majority of the United States (including Ohio) is in a real estate slump. Deals are plentiful if you live where you invest and know your market. I wouldn’t waste my time hunting down vacant properties; sending out mailings; or any of that other guru nonsense. Join your local REIA; make friends with the SUCCESSFUL INVESTORS in your town; get a hungry realtor; learn your local market,; and make some money.

Good Luck,

Mike

5

Any good REI Clubs by Toledo, OH?

6

Yes, do a google search of Toledo REIA. Make sure that any REIA you join is part of the Ohio REIA. I believe that ToledoREIA.com is the correct one.

Mike

7

Thanks Mike - This looks like the perfect place to start.