Tax deeds and surplus

[Carolyn Morales]

I have done well the last 3 years with buying over the counter tax deeds. I made 55k my 1st tax deed bought over the counter from the tax deed office without bidding. A vacant lot, and have since bought 13 more in and around tax deed inventory whether it is from an out of state holder of inventory or otc at tax deed office. I just let 2.1 acres go back to auction because I could not get the right of way I needed to make it buildable on this not yet approved private road. It required a waiver of frontage because the road in front of it was not approved.. I paid $4500. On a 46k assessed value. I thought I could learn the application process and there was enough room in equity I could let it go back to auction if I had to. Well it got bid up to 24k and 19k in Surplus is coming back to my business. That was not my original intent but I will take it. Now I know why some people make a career out of pre auction intercepts to NOT pay the tax to set them selves up for surplus . All of my tax deeds have been just vacant land or MH lots 

[Robert Dobbs]

Good morning Carolyn, Good job! I myself ...have been a fan and a buyer/flipper of Florida Tax Deeds for many years now (in Citrus County, Florida). Personally, I'm not a fan of County available "list-of-lands" (as you called it, "over the counter", non-bidding parcels). But as you say, if you can acquire tax deed parcels well below certified County assessed values, ...you should be ok! I bought (I.e., at tax deed auctions) mostly plated small, low-priced tax deed parels (1/4 acre to 1.5 acres). To date (since 2014), I've spent a total of $145,177.75 on tax deed vacant parcels. I've bid on a total of 118 parcels and won 56 of those tax deed parcels! My "average purchase price" was $2,592, per tax deed parcel: includes recording/transfer fees, doc stamps, etc. All but 11 have been sold. And I'm confident, these 11 remaining parcels will be sold this year! I "bid and buy" online via: http://www.realauction.com/client-sites, you can bid at both tax deed and foreclosure auctions at a number of Florida Counties. Also, you also have access to "online auctions" in other states, such as as Arizona, Ohio and Texas. "Newbees" need to learn the "ins-and-outs" and the "rules of the roads" to these various auctions. Each state, for example have their own "governing rules" on tax deeds. My suggestion to potential tax deed investors, get educated and "learn the ropes" to tax deed investing, ...before you invest.

Good luck to you (and keep-up the good work Carolyn!)

Bob Dobbs (Trustee of the Land Rescue League Trust, investor and "well-seasoned", licensed Florida real estate professional.)