9) To make sure there are no surprises, make sure the property you are rehabbing, the mail is sent to your place of business. Hint: tax payments, lien violations, etc...

Answer: I purchased a major rehab in Miami Florida that had a collapsed roof, fire damage, etc.  You name it, it had it.  In the long run, it turned out to be one of the best learning experiences I had while working in the Rehab Business. 

Anyway, I neglected to forward the property's mail to my business address.  I just forgot about it.  As it turns out, there existed an unsecured structure lien from the City of Miami, Florida.  This type of lien accumulates $250 per day and this property was abandoned for a long time! My title company for some reason missed it or I missed something during the closing (Rookies!). 

So anyway, I didn't have clear title. The City was sending out notifications but I was not receiving them because I didn't have the mail forwarded. 

By the time I found out about it, the fine accumulated to $500K.  It was more than the value of the property! Image my surprise and heartache. 

I finally resolved the problem but that is a future blog as to how I managed that.

 
Front View after some rehab work!

Bonus:  FREE Wholesaling ebook and other bonuses: robertkburns.com/recommends/learntowholesale 

Bob Burns
www.investmentpropertiesmiamiflorida.com