FL Tax Deed Properties

[Justin Morris]

Hello BP,

My wife and I are jumping in to the REI world and buying our first property. I've been on BP for years and have dabbled a little bit but never got serious. Now I am. We are looking to buy our first home through a Tax deed sale in Pinellas county Florida. We've made a list and are going to look at the properties next weekend, once we've got our final list. We'll do title searches and that will ultimately determine the final list we bid on next month.

From my understanding if I am the highest bidder. Then I need to do a quiet title action to clear the title and then the plan is to refinance the house and pull $$ out to rehab it. Once we rehab it we plan to rent it out and do it all over again.

Is there a certain period of time I have to wait before I can refi?

Any advice from any experienced investors who’ve purchased tax deed properties in FL before?

I am aware it’s more risky but I’m working to an advisor who has 5+ years experience in tax deeds. Just thought I’d post the plan here to hear any feedback from community here.

Thanks!