All Forum Posts by: David T.

@Christian Lincoln, it all comes down to the level of security you provide with the actual property (ARV percentage), the rate you are getting, all these are factors. NY is also tougher in terms of paperwork than almost anywhere else in the country - in my experience. After all, it is the world capital of fraud activity, it's even riskier to lend money in NY than anywhere else and lenders are real big on personal diligence.

You did not include any comment about a personal guarantee which is also something you may have to consider giving up also. 

You should talk to as many HMLs as you can and discuss all the issues, rate, diligence requirements, timeline, all of that, make a checklist. You'd be surprised the reaction and results you will get from this kind of professional approach. You're in a tough money market, best of luck with it. 

There were plenty of bank seconds during the boom and were being offered at 2c on the dollar during 2010. Giver your HML the right mix of weed, booze and pills and I bet he'd think about it for a few seconds!

Best of luck with that one!

Sorry to tell you, Atlantic city is game over, very much in decline, IMO. Same as Detroit. It does have the boardwalk and beach going for it, but they screwed the tourists too often, greed and stupidity rules AC these days!

Welcome to BP Shanda, it's an outstanding resource and one you will come back to time and again! You're certainly on the right tract with your activities and attitude. Just remember this is a marathon - not a sprint and it gets tougher before it gets easier.

Best of luck with your deals!

@Donald Banks, you will find it extremely difficult to find even a private lender for something like this. Rentals are not popular with HMLs, 24 months is a push and no skin in the game will probably leave you dead in the water. Have you considered an equity partner? 

Best of luck with it though!

Nice one Ned, sounds like you have it figured!

@Ned Carey, you made a very interesting comment there. So can I ask, what diligence do you do before you buy your tax liens?

I don't believe there's anything you can learn from a gooroo that you can't learn here. The fundamental difference between the massive BP resource and forum system and paying big buckaroos for seminars and gooroo fees is you have all the information here and have to make your own decision about your specialty and disseminate the information which takes time, effort and personal commitment. Gooroos will make all your decisions for you and even do your thinking for you - if you let them and/or if that's what you want. 

Here's the real question you should be asking yourself; do you want to lead or be led?

How many really hot leads could you generate for $2,000?

Best of luck whatever you decide.

Hey Geno, great presentation! Impressed - what's rare is beautiful! 

The most important aspect of tax deed investing is the due diligence prior to buying anything. If you're not thorough with this, you'll probably get into trouble.