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hey welcome out to tonight's weekly training webinar for all the members of tax self support we love having you here yeah exactly we want to invite an unviable we want to welcome all of the new members of course welcome back all of our members that have been with us for quite a while we appreciate you having me here yeah I'm shade for a that's Steven Swenson and and together we have tactile support yeah absolutely and we do these trainings every week on Wednesday at 6 p.m. mountain standard time so that would be you know 8 o'clock Eastern Time 5 o'clock Pacific and each week we try to talk about a new topic and go over new things each week so that they're essentially new training and new information so for tonight we want to talk about a specific topic before we do that let's get into news or announcements yeah you know really our biggest news or is just gonna be the three-day boot camp that we have coming up in Las Vegas next month October 11th through the 13th we had a member that had to cancel and so he has a couple of tickets left we have some tickets left if you're interested in attending go ahead and let us know we've went ahead and we have a you know discount it's a pretty good offer there for members of taxol support yeah the cost is pretty low to attend and should be a great opportunity to to spend you know three full days going through stuff looking your property we looked look forward to doing a lot yeah absolutely now the topic for tonight is something we're gonna talk about really I don't know if they existed even ten years ago definitely not like not like they do today there was a couple of them out there but they really started to grow over the last few years couple of years and what we're talking about our land banks now land banks are kind of a unique thing like shades said and they work a little bit different than normal of the counter investment yeah in fact land banks I'm sure came about through necessity counties all over the country struggled to collect all their delinquent property taxes and I think it's getting easier for them now than it has been in the past in the past I think it was even more difficult but some counties had so much of this property that they couldn't really manage it you know and in fact the problem with all of this is it all represents unpaid property taxes and the county is not in the business of holding bland and so they needed help dealing with some of the property they had and trying to get rid ourselves on the property they had and now when it comes to land thanks a lot of this is going to include things like tax foreclosures so people that didn't pay their property taxes that property was eventually issued to the county or to the city but this could also include donation properties it conclude old city owned properties properties that were taken by the city force different types of liens or abandonment you know so there's a lot of different things in addition to just tax sell properties but a majority of will come from that but that's not all they come from yeah now these land banks are generally set up as nonprofit organizations that help to manage this this County held inventory and really can help on varying degrees or help at varying degrees depending on the county that you know that we're dealing with but some of them are very involved and can provide a ton of property information and details you know some of them are kind of like an additional sales branch of the county government yeah exactly these are nonprofits that have been set up they follow certain state guidelines for these as far as how they operate how they run and they can be run by both by the county governments but also by city governments as well so we've seen some of these land banks that are set up set up in cities particularly larger cities where there's a lot of different of properties available and the city has a lot of city on land as well yeah in fact I just said I think they came about probably just because counties needed them with how much inventory they had but what has been nice about it is that the landings in many cases were able to provide a lot of additional property information and help about properties that the county either you know it's too busy to provide before or maybe they didn't have they're far more into these properties that are available because that's their primary purpose that's what they do yeah land banks are the one option where you can actually get keys to a single-family home yeah they're um acts of properties with keys yeah in fact some of them we've even I was looking through some today where they've gone through the quiet title process you know some that will offer them with oh yeah you miserable yeah you know something off erm is deed it just kind of depends on how how their they are and there's you know they're all going to be different between state to state some will allow you to submit bids on them or someone will have a minimum bid amount like I was looking to Detroit for example you know and they have you know their inventory but then they also have auctions where the opening bid starts with a thousand dollars on these different types of homes and so you know it's going to depend on that particular area on what kind of deals they have you know also some of them are going to be targeted more to people that are looking to buy homes for their own home you know like first-time buyers people in situations to buy a home but then there's also a lot of them that will will cater to investors as well yeah you know beyond that they also tend to focus on on local residents if they can but really what I think is primarily important to them maybe even more than trying to help local local residents is helping the county further its goals of you know of collecting property taxes and and just making that whole system work so you know I think that they will sell property I think their goal though if if you're somebody that that wants to buy the property to uh and you have great plans for things that will help that area you know if you if you have plans to do some kind of a renovation on a property to renew it they're the type of group that you could submit that information to and it could be very persuasive and who they offer the property to yeah you know most of the things that we teach is for investors but with these land banks there's really as opportunity not only for investors but also for people they're just looking to buy homes they're not going to be in everywhere but in the areas that do have them they do have things you know pretty nice set up or someone will have financing programs some will have different types of grants you know some I mean you could buy some of these homes if you're willing to do the fix-up for a dollar so it kind of depends on you know the type that you are but this is one option out there for people that maybe aren't you know ready you know don't have the funds to start investing yet but do want to try to get their own home this could be an option to look at yeah and they do play an interesting role in that they are tax uh properties but the camp but these are also more involved in counties generally are and these properties have already been foreclosed on you know long before the most of these land banks ever did them so you know when the county is offering them in the beginning there's always still you know that chance of redemption there these properties are generally ones that are long past that oh yeah absolutely all of these have gone through the foreclosure process and most of them have been deeded from the county over to the land bank you know they could still be in the county's name in the county well you know the land bank will deed them over but you know really the the the opportunity with them is is is quite a bit quite large yeah so now where can you find land banks fortunately for all of you you automatically have access to to a pretty big collection of land right now that we currently have in the knee over-the-counter section on the website yeah exactly there's probably about a hundred and fifty of them or so and we're always looking for new ones in fact I was going through them today we were and updating some of them because sometimes the links to them will be on the county website so they'll change that link and so we're updating a couple of the smaller ones and going through them but if there's any new land banks we'll go ahead and post them and make them available yeah so what we'd like to do now is is go and take a look at some of the the opportunities that are available right now with with some land base right now yeah absolutely and a lot of these land banks actually have some pretty nice map features and like map search tools where you can use different types of online searches to find the properties look at the overhead maps evaluate them and so we'll go through and look at some of the different different types there's also some that just have nothing but a list and so with those type of areas then we're going to you know take that list and find the parcel search tool and in that County website and start searching some of those property records okay so let me get this pull over here so the first thing we'll do is just go to you know the website tax on support comm and then once we've logged in we're going to go ahead and go to the list center to the OTC database so once we get to the OTC database of course we have the tax lien list tax deeds list and then we have the over-the-counter land banks listed there as well so if we click on that it'll take us there also in the over-the-counter sections if there is land banks within there we'll have a lengthy it'll take you over to the land bank as well so you know to get started we can go ahead and start looking at some let's quickly you know I was kind of interested in this let's go ahead and click on uh you know Little Rock real quick since it's one of the first ones there you know Arkansas sells real estate through their Commissioner of state lands that's how they do their over-the-counter deeds but there is properties located here in Little Rock now as we scroll down we can see the land big property inventory there from August so if we click on that that's this is going to be an example of a PDF list that we would go ahead and download and we're not going to spend a ton of time on actually looking at these properties but just wanted to kind of show you some of these because see we can see here where some of these will have title insurance policy available yeah and so the purchase prices there range from around a thousand dollars up to sixteen thirty twenty thirty five so there's all kinds of different letters one for a hundred so there's different types you can see some of them are offering is out there quickly or in a quiet title note for claim do a quick clean feed you know some that has a structure to you see yeah some have title insurance some will have a you know offer and it's a quitclaim detail kind of depend on the property but if we were interested we could go ahead and start looking through some of these properties and see if there's anything that that interest us yeah you know really it's an interesting list here of properties we can see and I believe that you know they'll they'll have some of they'll put out these every month or so with the new list with any of the properties that are currently available so you know even though Arkansas this is kind of an example of an area of Little Rock's a big city these are properties that the city is gone through various means someone could be taxed out but a lot of them you know a lot of we can see arts through the federal through city you know how they acquired these properties and essentially are just selling them through the land bank and having that purchase price so with that would just check the purchase price see what the value is check the you know the bid to value ratio that sort of the cell value and determines it's gonna be a good investment or not yeah but the fact that you can get a title insurance policy on it you know automatically in a way is you know saving you money because it's going to be giving you a different type of feed yeah yeah that would be really handy you know some of these properties if you can buy them automatically knowing I mean all of these especially sometimes ones that are valued as high as 20,000 have it - you know the one that's one hundred and six thousand they're giving you a quick claim deep but that's because it's a structure and you're probably gonna have to go through quiet title on it because so structures are that one's also quick claim deed you see the ex is $75,000 one you see one there's a commissioners deed oh yeah right there commissioners deep for 3,000 yeah interesting well you know this is one that we'd actually have to go in and pull out the partial search tools and start going through so I look at its some different ones but we wanted to kind of show you that just to show you that there is a lot of them out there that will offer it with that's one that is one advantage you know is that we're not looking at that and then you're wondering if you can submit offers on those prices you know there probably depends yeah that's gonna completely depend some we're gonna be minimum bid I think these are just the buy-it-now prices yeah I think it's just a Buy Now price you know you kind of have to read the girls for for the properties in a lot of cases they'll have set prices for these properties yeah absolutely every one of these land banks they're completely going to be different on how they run and how they handle it especially as we're looking from state to state so you know you're gonna want to go through and review all the rules within that area because you know maybe they would allow offers maybe they don't you know it's kind of going to depend on the individual County and/or land bank yeah so let's see here now um you know we just back this up again so we can go back here to this page here go down a little further and you know let's check Fulton real quick they're in Georgia now when we when we take you were going to take you straight to the land bank page and then from here you're gonna have to navigate to find out where the properties are at so we want to take you directly so we can see over to the right hand side there's available property inventory if we click on that it will have us click on another little link to click on the inventory and a lot of them will pull up a map similar to this now once we get to this map on the right you can see where it says view all properties if we click on that then it'll go ahead and pull up a map of all the properties now one thing I was looking at as well is there's different types of properties by status and so you know you're gonna want to look at the ones that are essentially available or for sale under this category yeah in fact yeah we can see that there's that they have some that are for sale some that are available and then they have some that are reserved for the land bank yeah so if we were to go up here at the very top we can see where it says filter then we can go down to the property classification or property status somewhere there does it say so you click on they're available and then click apply up at the top and we would be able to see which properties are available now on the right hand side you have a list of the properties you can click on view on map and it'll go ahead and take you to wherever the property is located also with all of these they have a layer system as well so you can go ahead and click on the layer system and add the satellite and at least get kind of an idea of where it's at now I didn't spend a ton of time in this in Atlanta looking but I thought it was interesting they have property there in Atlanta so but you could go ahead and click on and then if you click on the few of the beautiful details it'll kind of depend on the type but a lot of times I'll have details within there so you can see this is part of the sheriff marshal need inventory and so check out the rules would go ahead and click on that so I you know what this particular one I'm not sure a lot of times they'll have the bid amount they're listed that you can b
y it for they don't have that amount listed here so this may be a situation where you submit offers would probably actually have to click on or contact that department to find out exactly how we're gonna do it interesting you know it says something about it's not currently available but it'll be added to this listing after approved by the LA Board of Directors so essentially this is probably one going through the process of becoming a land-based property they can sell or make available yeah yeah it's kind of interesting you know with the filters we could you know I mean we could we could be looking for you know certain types of property you're just a vacant lot yeah you know if we wanted to save ourselves some time there if we wanted you know I kind of like the maps I think they're handy yeah yeah there's a lot of these plan things that kind of send up the land banks are using a lot of this just in fact this exact Mac system is used in in quite a few different ones so you know once you kind of get a hang of how to use this use the layers use the filters you know you can they're gonna be very similar from one to the next yeah and know that it's different believe when I was looking earlier there's different types of structures available as well yeah so the ec2 they have a classified a little bit differently on these you know some of these are reserved for land banking some of these are for sale and some are available yeah kind of depending on how this particular one is done yeah it's not usually like this where they're cut several different types coming on but still good properties everywhere you look yeah yeah that looks pretty nice yeah it's not bad at all go check out another one yeah let's go let's go check out the next here so if we go down list well let's check out Illinois since it's right next one down let's go check out Cook County real quick and you know like the last one's gonna take us to their main web page and then we're gonna look for where we can search property I think it's underneath apply buy property if I remember I mean look at that they're giving away at home that's something you know so if you want to apply for their home they are giving away at home now we could either what are you looking for as a home buyer or we're gonna be either a residential developer or rehab essentially theirs is how we're going to look for those properties so we're gonna click on that which for anything the residential developer yeah that's essentially buying either building Lots or buying one of their homes to rehab yeah so you can see where it says the interactive internet in there any property that's where you click on yeah except that and then we click on View all properties and you can see oh they've got a lot yeah they've got a group um Wow look at that and they have all kinds of different types as well um you know residential land you know they have the minimum offer amounts they're listed you know they have some range from about $1000 on up in fact go all the way down and go to page two cuz member that one for 800 I showed you yeah come scroll up and let's look for it should be kind of get up a little higher right there Miller Circle yeah oh yeah right here yeah this one for 800 thousands kind of interesting yeah we can see yeah it says you know commercial structure you know mass village minimum offer looks apply it said $800,000 is the minimum off of it as you can see it looks like a big car dealership yeah some kind of a commercial yeah previously a you know like a it looks like it Zuzu dealership so yeah it's special commercial structures what has there it is a nice building now man yeah it's a nice piece of property there but yeah a lot of money old honor although probably not a lot compared to what the property's value I mean even thinking that kind of it that type of structured building whether they putting in a new dealership or convert it for something else yeah and then of course you can do the same type of things where we're filtering it we're adding layers so we can see satellite images we can click on you know inventory type we can click on neighborhood or municipality and that's gonna this is could work it could really make a big difference is there's certain areas you know just watching the news that we're probably not gonna want to buy property in you know in that area of town and so we're gonna use that you know in as far as finding property that are you know in better areas or mark you know more expensive areas kind of based on what we know about Chicago so maybe we would look in certain areas of the town to see what type of properties are on that area yeah fact I wonder what they have let's see here we can look at any kind of land we could look at bacon bacon land certificate donors those are ones that just have liens on them still yeah or if you can buy the lead that's like Italy yeah seals it has they can land here and then we can also sort by inventory time future property and [Music] he's sending us anything you know may even click on view on map on any of these properties and it'll kind of zoom you right there to where the property is located so it's pretty easy to find where they back because they've done you know most of the work for you yeah and so we could go up to the top and click on the layers if you want to see satellite image is then bacon lot right there yeah it's a pretty quick tool you know it gets through the properties pretty quickly and so you can actually well I mean those ones that don't have you know photos it's still gonna take you right there so you can see what it is well there's a ton of property here too you know I'm sure a lot of this stuff has pretty good value you know it is just a tremendous amount of inventory let's see here yeah well you really could you know spend a lot of time and that's probably where you try to target a certain area yeah you know because there is enough property available throughout that yeah I mean look at all the green properties are available they can land making land certificate wonder what that certificate means I wonder if there's your tax certificate yeah let's just mean there's a tax lien you know this probably Cook County is this is probably really connected with their Treasury Department yeah so you know people can see which one has tax liens on it and then you can click on oh the orange ones are no yeah so these ones that are all similar vacant land certificates are just they can't land yeah so ones that are vacant land you probably do the offers on yeah most of these are certificates I think the least most of these that I click on filter those ones out and if we're looking for deeds yeah definitely definitely yeah beautiful details on a property here let's see the Cook County landings requirement a certificate is option team that's over the counter there look at that you can't you can option of taking this property yeah I'm taking it to deed if you're interested so basically say the Cook County Land Bank has acquired the tax certificate to this parcel and is the option of taking this property to deed if you're interested in purchasing this property please apply by clicking on the link on the upper right corner of the page please to learn more about the tax rate program so basically it's an over the our tax lien or the community already owns it takes the deed sale and you probably get it you know yeah so they have the option to to to do that that's interesting there's a ton of property there and a ton of opportunity also Abilene's to the via the percentage of the liens probably isn't bad you know I'm wondering if you do a percentage or if you're pretty much as giving the deed yeah yeah probably you know they're not gonna go through the foreclosure process on every single tax lien they own unless they're sending it to a deed auction or you're requesting it you know yes none you're not going through the process of working on the foreclosure and the cost that it goes involved yeah you're paying off all the liens to foreclose on yeah yeah that makes where that minimum $4,500 comes in you know if it's let's say the property taxes are 800 bucks a year or a thousand bucks a year it's been delinquent for four years yeah that makes sense check out yeah so let's try Indiana let's check out Indianapolis let's see what this property so they've got a property map browse properties got the property map they're probably either one of them let's see what happens there we go so now we can see and you can click on view all feature properties which sometimes love a few usually just click on View all properties on the right is that isn't like a whole neighborhood or something that kind of looks weird you know I just want to see what this is because the image on it looks kinda bizarre like it is a whole neighborhood okay yeah that is that it's just a one-line all right let's view all the properties here and yeah this one is set up I think the same company must be setting up a lot of these yeah and they're all you can see they're all done by the same system yeah so we've got mix here well this one's residential building let's see what details this one has and so essentially it says they acquired you know through the Marion County tax sale has us deed on the property and essentially available yeah says you know title companies may require a quiet title action or additional fees to ensure the title at closing but yeah they've even got the interior photos here on this one so yeah well in fact a lot of a lot of these that have structures on them not only will have the photos which you can actually schedule a time to have you or a handyman or somebody who hire your contractor go out there and do the evaluations you know I was looking at one of the areas where you know some of them have already gone done through and done like had a contractor do an evaluation and then you go through and do your own evaluation you know as well they kind of give you an idea of what their estimate is but looking at some of them I thought well that kind of the highest entire go in there and you know you could do it for less yeah yeah that's interesting here let's see see some have self pending yeah you know and that's where you can filter them out if you know if we're just looking for you know trying to filter some of those out look up the ones that are just available or they've got six hundred properties in there though you know so see if you ever want to sell pennies to I don't know yeah that's work kind of filter it out yeah yeah but we are starting to get into you know there are structures and stuff on here so it's probably kind of junky but there's a home for thirty five hundred there yeah see this one looks that really need details here about it just that information here no no yeah I'll bet we could find some pretty good stuff going through these I mean you know we're only looking at you know what 25 of these at a time and you know there's no more 600 from here you know take quite a while here just BEP slated and I'm over that means BEP slated I looked it up further I can't remember if some some means something means some of them yeah it means something whoa I was gonna look here yourself hang on this one for 12,000 let's see what they've got the information on it and see it's far it is far you know we have a question about the land banks you know in a Buy It Now price or can submit a lowball offer it's gonna be completely dependent upon the individual land bank a lot of them were gonna have the minimum price that's what essentially what's available for some we'll have you submit an offer so you know there's not like one general rule for land banks it's going to be completely up to how the state to set them up and how that individual county essentially yeah so when some in some places the answer would be yes um Oh F what thank you BP slightly is that means demolition yeah that is good to know yeah in some cases though you can submit you know offers to to land banks maybe and then in other cases though they have set prices you know where they where they add they have them set so you find it both ways yeah it's really gonna depend on the land bank you know and some of them really you know are are have a lot of options for investors we found a couple that you know are kind of not as helpful to investors which which we always thought was stupid but then some of those areas don't have as many properties available as well yeah yeah there is a ton of opportunity out there in this I mean just within some of these areas just the one land making loan it has a lot of a lot of property in it so it's amazing that you know there are hundreds of these land banks now yeah yeah you know for instance let's see here's one they they have the student is available here you can see here eighteen forty Minnesota Street well would for 29 thousands more expensive than a lot of them so if it's pretty clean let's see no well is is boarded up it has new it has new siding on the outside you know oh it's better conditioned inside I would think you know probably you know what I would love to to to look for here would be large tracts of land I'll bet we could do that here you know through the filters or maybe with vacant land I don't know if we'd be able to to limit it to just large tracts but those are always kind of exciting to be able to find some some bigger pieces of land yeah yeah go back to the very back this and what you always need filter it through one of the filters and filter for land you know and that way you can at least not have to try to look through the whole list you know also filter the ones that are available versus the ones that are set up for demolition or not available sup nd you know because you're gonna look through a list of 600 like that you know Caleb oh yeah you go the circle kinda we want to look for I'll see if there's any commercial vacant land torsional vacant lot and then we're gonna hit apply so we're looking for available and commercial dating no that's actually still a lot of lots they're available now let's see let's look at let's see some 3,500 3,500 these are each available 3,500 who asking price of 750 hold you meant yeah let's see what that is click on the satellite layer so we can get some image looks just kind of like a side lot actually I don't think it is commercial I think that's residential yeah it might be sown commercial because this is a Multi multi like duplex area yeah that's probably the reason why yeah what about that one 426 click view map right there let's see now it actually is it bacon a lot it looks like yeah yeah yeah yeah that one actually there's 750 right there now let's see wait across from look there's unlimited yeah it is right across from liquors unlimited yeah you can see it there it looks like it's a fairly small watt although it's kind of you know hard to see the details there is a pretty small lot you know right here as well if we did find one that we were interested in we would also go and do what we traditionally do attack so investing where we take the parcel number we look up the property we check the GSI map to see what the you know the lot lines are we look at the tax history yeah so if we're looking if we were looking for I'm gonna let say a commercial piece here what we would start looking for would be a place that looked like it was in an attractive location you know that looked like you know the size of the lot now if we wanted to target a lot like that you know we'd be trying to look for the one that had the most appeal from a sales perspective yeah just seeing that highway there I was like man if there's any property along that highway or you could put up you know a a billboard and collect monthly revenue off of it that would be awesome too yeah we can also just change that classification to look at other property types yeah we could look at see if they have any commercial building so if we're building ones nothing no commercial buildings look at oh I think I actually saw it underneath there they said they weren't posting on this point look at you know homes or whatever residential building and let's see here so they've got 128 residential buildings listed here starting from maybe 500 yeah about 3,500 and working their way up some of these don't look too
ad though like what 10,000 yeah it's really where you're gonna go through and look at some of the pictures and and you know maybe even send a handyman out to walk through the property and you know take photos for you you know really kind of figuring it out before buying it you know yeah that was 10,000 might click on right here you know those next one's like 35,000 you wouldn't go check out another area let's see I just want to see if they had it you know any good photos here this and let's see if getting good phones the one for 35,000 oh and it resets every time you know we had clicked back yeah that's probably true yeah yeah let's jump let's go look at let's go over to this well we've got time left here see there's you know Kansas let's check out Kansas City there alright let's see here oh that's right Wyandotte and scroll down maybe it's true maybe it's actually on the left hand side versus properties oh yeah plan Bank inventory there yeah it looks so good All Right see ya PDF but I think more than one page oh yeah in fact the many many pages here so you know this one here we might let me make it look a little bigger yeah let's sing in here so this is a massive you know massive West it's 66 pages you know chuck full of tons of property essentially available through their land bank so the map square footage a lot of frontage this is one I haven't read the rules but you know they don't have a price listed there so you know probably what not understand sure but could very well take offers yeah so praise total we've got there you know so we can see different well one thing I noticed about it is it's almost on street so those are all the properties available on 10th Street 11th Street in you know and after you get through the tents then it gets into names so on you know Haskell Street or whatever it's going to be all ages in the kind of goes in alphabetical order so yeah that's interesting you know yeah so the you get the appraised value on the far right but most of them have you know values that are you know pretty low yeah and you know then you see some of them that jump up and have values if you know but increased amounts well that's where like the $250 values we we pass over until we get to the higher values you know like that $11,000 $24,000 you know there's plenty of property within here that have values and it's a little easier to because you can see the size so these ones that are small you know if it's 2,000 square feet that's gonna be tiny well if we're looking at 15,000 square feet or 20,000 square feet or 30,000 you know it gives better idea yeah yeah it's interesting you can also kind of really get the add the full address there's two as well you know it's just three oh you know 300 84 north 18 Street in Kansas City you know or whatever the address would be yeah boy they've got a it's a that's a lot of it's like they're in Tori it's a huge list you know there's 174 thousand that's a big to 7400 square 74,000 square feet - yeah that's huge so you know it's wasn't ever under very far right meeting in half I don't know again it's the district so there's something basically in different districts but what would we do from here is we would basically go and pull up the Wyandotte parcel search tool so we could pull up see how some of these and get additional information here yeah you know we're kind of running out of time anyway but you know that's kind of exactly what we do with that list to start going through it reviewing it go ahead scroll down a little bit further let's check well we could check out some of these Michigan's real quick because first of all if we would have textile info this one is is theirs Michigan has a lot of different kinds of land banks here is the surplus clock properties and if we scroll down to the bottom of here we can see some of the different counties if we click on any of these counties you know it'll pull up what property is currently available they've just had their selves so they'll probably be adding more properties to this list but there's a lot of properties available through here in some of these counties that start a hundred or two hundred dollars so if you're looking to get started you could find some of these properties that could be worth you know it could be worth buying there's one for 350 right there that a lot to the Rhine mm-hmm so you know this is one option but then also if we go back to the website we can click on this Michigan fast track land bank and that's gonna take us to the state page and then if we click on View property underneath available properties we'll pull up another type of map version similar to the ones that we are looking at it have properties available through the through the Michigan fast-track Authority now addition to the Michigan track track Authority bass track a bunch of the little counties will have individual little land things as well where they long for some properties so there's a lot of different options on the land you know with land banks when it comes to Michigan and the fast track is actually statewide so it's not just a particular County you can search property within some counties or you can search within the whole state yeah yeah so if you click on you know view on map or any of them it's gonna take you to where that property is just like the other ones and yeah we can actually see you know the coloration on these you know if we see one there I think that one is industrial improved or listen friended click on that oh yeah it seemed fertile in there to it you know you can see the piece of land here with it and it'll have the same kind of a classification you know once they go ahead and have their Michigan has their resale then they'll probably post their 2019 properties that didn't sell on this list as well but what is kind of cool about this particular website is this isn't done by a particular county or state it's I mean but county or city it's done by the state so they've got property throughout the state on this one nicely handy here I'll see here if you look at maybe one check out one more yeah let's scroll down let's see there's Missouri there Kansas City well we've checked out Kansas City Kansas let's check out Kansas City Missouri I think we click on that property search oh yeah was it pointing up like that it's kind of interesting pulls it up in its own window so let's go it's good of you all the prop wolf yeah there's a group of properties here 3117 pieces of property and ice notice this you know they have some pretty low opening bids asking prices you know essentially you could you could either choose Kansas City Missouri Kansas City Kansas you know and click at some of the different inventory that's available on either side yeah so yeah we can actually zoom in just a little bit here so that we can see you have it how the dots kind of break down see if there's any vacant lots near the near the Chiefs Stadium and then you know you know sell it to somebody who wants to sell tickets yeah this is actually the kind of tool you can use to do that you know at least you can you could be out there oh yeah based on work you know see whatever that campus is right there if you want to find something around that or around a certain area these maps do make it kind of nice to see where the property is located you know and where you can also kind of see where it's clustered at yeah so I can see the commercial vacanze we can see here we were after that you know we've got you know we've been several here about 10 different properties here we could look at you know so each one of these yellow dots yeah let's see here or we could also filter them out and just look for them specifically so we could go like this and under the sea here proper classification and in commercial vacant and then you keep going to apply and there's a hundred and sixty nine pieces of commercial property that are latent NOC starting off here asking price is only $80 on some of these let's see here see what the $80 is here it's got to be a junk piece looks like I think it's a little strip there next to the Wendy said let's see here let's see if they look at use they go up in price a little bit I can't really tell what that is we do have an address though we could look it up there you know in addition with that if we were going to do additional due diligence that's where we're gonna pull the county record information up look up GSI map so we can see where the actual map lines are these maps are helpful but they're not going to give us the lot lines and the dimensions and the county records and so that's where we're going to do that additional deuce due diligence step to see what it is yeah just make them land you know the filters are pretty handy though especially when there's a lot of property like this yeah should we check one more before we yeah yeah how the listen would be kind of fun to dig into there we even got some industrial bacon there's yeah yeah I think you know a lot of these you could spend some pretty good time in and and you know find some pretty good properties I mean you there's there's three over three thousand properties available here yeah starting is less than a hundred dollars know you know you know with 3,000 properties or at least we know with 3,000 properties even at these asking prices you know these are going to be you know there's gonna be good properties within here where the even at the asking price we're buying it for you know five ten cents maybe even less on the dollar where you know we're able to to pick up these properties build on it Terron whole sell it you know whatever we want to do with it but it gives us an opportunity buy property for highly discounted cost yeah look at landings requirements applications signed in did you know scope of work background authorization state or federal photo ID well proof of funds for rehab that's fine and that's kind of this is an example to that's also gonna be if you're doing rehab property yeah you know it's gonna be different requirements for a building lock than if you're what they don't want to do is they don't want to sell you a REIT like a single-family home for a discounted cost and then you do nothing with it yeah suddenly there's another eyesore and they say oh dang this land bank that keeps selling yes this jump you know let's go ahead and go down to actually listing for one more rock up in Michigan looks like a deterrent real quick that's going to be Detroit city like it look as mothers too but just thinking about this one interesting this is one that I wanted to show but they have auctions to see how they have them you know the Buy It Now is they have like the auctions they have open houses you know you could actually go there and look at all these properties and most of them are selling for a thousand dollars and they have kind of a scope of what needs to be done but that's where I think you go in there and look at the look at the condition and some of them I almost kind of think they're just going through and highballing them everything as far as the rehabs that need to be done but you can click on you know the the auctions to see any of the auctions that are coming up the properties that are coming up you know all listings if you want to see them all oh yeah you can see here but what's different about these is you're actually going to be able to walk through the property you can see though you know a lot of these do need some some work on and that's where you you know we're finding the right ones going to be key to it but you know if you do have the ability to walk through it then that's where you're going to send somebody out there is not yourself a handyman or contractor to really kind of give you a good idea of what really needs to be done as as far as the rehab because that's something that they're gonna want as well is they're gonna want within six months to a year for essentially the home reads for the home rehabs to be done and to be fixed up yeah and you know some of these look you know some of these aren't too bad yeah there's a listing there for it you can see the starting bid you know a thousand bucks and it's probably gonna sell for a thousand now you know so here's something you should look at yeah so with that you know they provides with a couple of things here we've got the men cost of repairs in the property conditioner report so the work scope contract the cost of repairs there is going to be 72 thousand dollars which I'm assuming I like that roof a completely new house see here we can get into you know I mean it figure out all of the material type although it was seventy two thousand well and that's what I'm saying like well that's worth replacing and you guess what I'm saying when you're going through here they're good having you replace yeah I'll be lonely dance insulation you know Arthur you know substrate cheating you put in they've got gutters you know ad they get replacing the windows and placing the glass and putty then you've got the other doors and you've got doors and hardware here storm Hardware rebuilt the front porch yeah I mean yeah you get you do have a lot of work there definitely in depth let's see the other one is a property conditioner for you know and this is you know interesting you know they can tells you it's got a structural fire damage oh it does huh yeah this tells you more about that's the reason so high but they're also gonna be replacing the boiler placing the furnace the air conditioning system you know the water heater brand-new appliances new kitchen you know new carpet I mean they are going full-bore you know yeah it's a new house yeah essentially so I think you can you know we're you know it's not you don't have to use that they're just giving you the estimate that's where they were encourage you to come in have your own gun you know estimate done and then submit the offer but there's you know a lot of opportunity out there on land banks that should at least give you guys kind of an idea of how they work what's available on them and kind of the whole process yeah yeah so thanks so much for joining us tonight and hopefully we'll see you again next week yeah thanks you guys talk to you again soon
