All Forum Posts by: Alexis Monroe

@Charles Conroy How did you find the person/company to actually build the home for you? When I call around, I keep getting quotes of market value so It doesn't make sense. 

@Charles Conroy Thank you so much for your insight! That was extremely helpful. It honestly sounds like a lot of work and there are too many factors that could possibly go wrong before I get to profit. I will do a little more research in FL and see if this is worth it. 

Hi there,

I would like to be able to start building homes on vacant lots and use the home as rentals. I wanted to know if anyone has any experience/success with building a single family home from a vacant lot and selling it for profit. 

Also, any names of building companies in Lakeland, FL area that could assist with building the home would be helpful. 

Any and all responses or thoughts on this are very much welcomed!

@Jason Martinez right! That makes so much sense! You paid 6k cash to get approved for 40k more in loans.

@Jason Martinez that is so interesting! How much was the car loan you paid off? 

I think this a great question! I’ve recently learned how to  flip property and I’ve bought and flipped my first 3 properties in the last 6 weeks. Now, All I can think about is using my profit to make more money. 

I don’t like to spend money on things that can’t make me more money. But, what’s the point of having money if you can’t enjoy it and spend? 

I could see investing becoming a never-ending cycle if you always put your profit back into real estate. 

@Arnie Abramson I mean bank foreclosures. And in Florida. 

Hi!

So, I’m really interested in bidding at foreclosure auctions now that I’ve been able to gain some capital with tax deed sales.

I had a few questions for those who’ve bid at these auctions before.

1) Is the winning bidder required to pay the entire loan off to the plaintiff?

For example, I’ve seen the winning bid only $25,000 but the loan amount was $155,000. Would the winning bidder be responsible for the difference of winning bid and the loan amount? 

2) what is the best way to complete a title search without paying for a search for each property you’re interested in bidding on? Should you search owners name in county records or just go ahead and buy title searches for each interested property

3) does the Assessed value at all give indication as to what the property is worth? Or, an indication that there will be low bids? If not, what’s the best indicator that the bids will Be lower.

Answers, thoughts or comments to any 1 or all questions are much welcomed and appreciated! 

I am a realtor and investor in Tampa, fl. I honestly think in the next few years, realtors will be replaced with real estate attorneys. 

Maybe it's just my experience, but I don't see why an investor would want to work with a realtor, in general. I only get paid when I sell MLS properties and investors most times don't even think twice about MLS properties. I think investors would be better off hiring knowledgeable real estate attorneys to go over their contract deals, discuss ARV, and assist with overall analyzing and negotiating the deal.

Thank you all for your stories and input!

I ended up sending a no trespassing letter, placing a “for sale” sign in the lot and the renters gave me the adjacent owners phone number.

I spoke with him and he apologized for thinking my lot was his and that he would immediately move his things. Turns out, when he bought it 8 years ago, he thought he was buying my lot as well. Goes to say why surveys are so important!! But I’m happy I’m finally able to have my lot without any issues!