Placida / Punta Gorda FL Real Estate

[Kwambe Smith]

Hello BP Family and Happy New Year!

I had a general question. I've been propositioned for an opportunity to purchase some vacant land lots in the Placida/ Punta Gorda Florida area. The lots are less than an acre, some are in established subdivisions and some are not. Also, the lots are mostly cleared and have access to utilities. Some of these lots are in a flood zones of 9 or 10 AE and not really sure how that would impact building a house. Is anyone familiar with this area of Florida for investing and if so what has been your overall experience. Much appreciated!

[Robert Dobbs]

Also Kwambe, most Florida tax deed parcels, will have their "title cleansed", automatically, after 48 months, per "under the Florida Constitution". So if you can "salt-away those tax deed parcels" for four years (I.e., 48 months), ...you should be able obtain title insurance from any title agency, when you sell or transfer those parcels.

"Suits for quiet title" are very cumbersome, expensive and can possibly take well over a year to complete! 

Note: There are certain "title insurance underwriters" (I.e, such as Old Republic Title) that offer "speedy title remedies", ...via "bonding programs", that can offer "quiet title alternatives", in as little as 20 days! (I.e., still a bit costly for vacant lots, but still very timely for tax deed investors). (Kwambe, Google "quiet title alternatives").

Also: If you can win a "bunch of tax deed parcels" that were all from the "same prior owner", in theory, you can pay just one "quiet-title fee" for that "bunch of properties", as long as all the tax deed parcels had the same prior owner. So for example, if you won 5 different tax deed properties at a "tax-deed County auction" and all were owned by the same "prior-owner," you can simply do one "quiet title action" for all five properties! Wow!

What I have done over the years, was to win some great deals at past "Florida tax deed auction/sales. I then marketed them via short term "owner-financing" (I.e., via a "Lease-to-Own" owner-financing agreements). I carefully explained to my "tenant-buyer prospects", just how tax deed parcels will have their "title-cleansed", automatically, under Florida Constitution, ...after 48-months! I guarantee that all the tax deed parcels that I "owner-finance", will have 100% clean, "free and clear" title in 48 months, ..."100% guaranteed by me or their money-back"! (It's like "giving ice away in the winter", as "any and all" title issues will be "cleansed by Florida" automatically in 48 months!). The only exception to "this automatic 48 month cleansing" are Federal liens (I.e, "IRS liens"), State liens (I.e., unpaid State fines, child support, probation fees, etc.) and Local Government outstanding liens (I.e., unpaid code enforcement fines). I do my own due-diligence (I.e., my own "title searches" on the various "County Clerk" Websites), where the County Tax Deed Auctions are taking place.

It takes some "time and a learning curve" to learn the "ins and outs" of tax deed sales and auctions here in Florida. I noticed the same buyers, "month after month", successfully bidding-on and winning tax deed properties. Do not "over-bid", set the price you are willing to pay. If you are out-bid, ..."let it go"! If you have to bid a "dozen parcels", to finally get one at the "price you desire", so be it!