Tax lien Tampa???? What’s my best resolution ....

[Andre Franklin]

So I’m happily starting my research for my first real estate investment & as I’ve learned many strategies over the past 6 months looks as if I’ve submitted to one in particular to start my journey . My grandmother has heard me go on & on about the opportunity in the Tampa Bay market for a few years so she’s agreed to finance my first deal for a line of credit from a local bank for 50 k . Now I plan to go to the tax deed auction & find a property for roughly 25 grand (after of of course doing a intensive amount of investigating the property) then having 20,000 in potential rehab budget & 5,000 dollars in reserve . Now I have been to the tax deed auction in Tampa before once when I was 19 & it has been some years but I do remember competition was vast . I wanted to know if others have had success with these numbers or if I’m being too naive in my budget in mind . I would had to have had failing my grandmother & plan on bring her a great return of her money on her investment. Thanks BP !

[Wayne Brooks]

There is still plenty of competition.  You can of course look at recent auction results, see what the properties went for in relation to what You would have paid for them.  Very few I guess go in the $25k range.