Real Estate Investor · Deltona, FL · Member since 2016 · 57 posts · 11 votes
Hey guys, are code violated properties good? I've written down all the properties in a county with violations that had absentee owners. Is this a good start?
It really depends on the violation and extent of the violation. Do they have 5k in high weeds/grass built up from a year of the city mowing at $300 a pop? Great! Mail it!
If they've only got one... Tenant may have forgotten to cut it before a vacation.
I like to look for board orders, excessive fines for weeds/grass, stop orders, and unsecured premises.
PRO TIP: Some counties will work with you as the new "owner" on code violations. If you find a property that you really like drive down and ask to speak with someone about the fines. (After you're under contract). We just had $15,000 in fines forgiven on a home I bought.
It really depends on the violation and extent of the violation. Do they have 5k in high weeds/grass built up from a year of the city mowing at $300 a pop? Great! Mail it!
If they've only got one... Tenant may have forgotten to cut it before a vacation.
I like to look for board orders, excessive fines for weeds/grass, stop orders, and unsecured premises.
PRO TIP: Some counties will work with you as the new "owner" on code violations. If you find a property that you really like drive down and ask to speak with someone about the fines. (After you're under contract). We just had $15,000 in fines forgiven on a home I bought.
@Ahshar Sylvestre I come across these properties often. I don't hold them in my portfolio but I do wholesale them to other investors since the discounts are deeper. I don't buy anything that needs immediate work. I buy/cash flow day 1 and let the tenants make the cosmetic repairs. Best of luck!
Ryan Dossey that's a great Pro Tip, that I will write right along slide my list. Thanks Ryan!
Shawn Ackerman I will defenitly keep you updated on my progress. I look forward to speaking with you. Thanks!
@Benjamin Blackburn good question. I think the type of violation is important as well. if there are 10 interior cosmetic violations opposed to a roof repair violation I'd imagine one would be more motivated than the other. Same year or last year violation doesn't matter to me. I also want you to get into the mindset of direct calling opposed to waiting to people to respond to your campaign.
I've been calling evictions lately and have gotten some pretty good conversations. I know if I stay consistent, something will drop. I'm curious who your calling? Landlords off of Gosection8, evictions?
@Ahshar Sylvestre how are you finding code violations in combination with absentee? Most of what I’ve read you obtain the code violation list from a city official but it sounds more like you are purchasing the list from an external source?
Hey guys, are code violated properties good? I've written down all the properties in a county with violations that had absentee owners. Is this a good start?
What did you do to get that list. I'm working on getting that list for my area because YES, it is a good list.