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Upside Down to Right Side Up

Upside Down to Right Side Up. How to avoid common pitfalls in Illinois and buy a better portfolio. Terry J. Carter & Eric H. Wudtke. Cook County, Illinois August 3, 2013 What went wrong?. Cook County, Illinois August 3, 2013 What went right?. 2013 Cook County Tax Sale. BAD. GREAT.

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Upside Down to Right Side Up

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  1. Upside Down to Right Side Up How to avoid common pitfalls in Illinois and buy a better portfolio. Terry J. Carter & Eric H. Wudtke

  2. Cook County, Illinois August 3, 2013 What went wrong?

  3. Cook County, Illinois August 3, 2013 What went right?

  4. 2013 Cook County Tax Sale

  5. BAD

  6. GREAT

  7. How to get from bad to great • Inspect every property • Research prior taxes • Avoid the obvious • Focus on the data

  8. Sales in Error …. or, what to do when things go wrong. • Simple – bankruptcies & liens • Deeper issues – destroyed or hazardous properties • County errors

  9. When things go right…

  10. Positive Outcomes • Redemption – great • Sale of lien • Tax deed • REO • Indemnity

  11. Case Study #1 Good buys in Cook County

  12. Case Study #2 REO in Cook County • Research, research, research • Boots on the ground • Aggressive management

  13. Case Study #3 Indemnity Cases • Indemnity? • The attorney • The doctor • The gambler

  14. Good luck… Terry J. Carter & Eric H. Wudtke terry@carterlegalgroup.com eric@carterlegalgroup.com (312) 346-5555

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