All Forum Posts by: Annelise A.

My husband and I have the opportunity to purchase a few more properties on the beach near San Diego and I am looking for some advice from you all.

Monthly rental or Vacation rental? That is the question. These two properties are beautiful and well kept with little to no need for upgrading. The neighborhoods are peaceful and just a walk away from the beach. IMO, this could be great for a nice vacation/weekend home, but all I have ever done are regular rentals.

I have done extensive research, but research cannot top real world experience.

What are the pitfalls of vacation rentals from a landlord's POV vs. that of a regular landlord? Have you had any great experiences with either?

I understand those are not very well formulated questions, but I do greatly appreciate any and all advice you can share.

Thanks in advance!!

twittwer is my bff... but that wasn't always the case. when my tweets were just "looking for a new tax lien for the month of May." nothing happened. the key to twitter is to ask questions. just like Joshua said... find like-minded people. use search.twitter.com and type in something like "reo investing" and people who are talking about it right then will pop up. engage with them in conversation. also, prune your followers. if a pron star is following you, chances are it is a spam account. delete them so real twitter users will be encouraged to follow you.
hope that helps!

talk soon :)

Whoa that was a lot to take in but so helpful! I'm gathering all the information on converting the house into apartments. Turns out I do need a special permit... But that's no big deal. I'm not sure how much it would cost to add the extra walls needed to make proper apartments. The house was originally an Abby for the local catholic church so it would just be a matter of adding some walls and doors to make it livable. It's in great condition and just needs some TLC.

Thanks again for the input! Yall have saved me again!

I'm not a marketing guru, but I have been doing Internet marketing for quote some time. I t has been my experience that by adding a call to action to my letters multiple times throughout the body of the letter increases my conversion by 43%. So by simply saying, "go to my website now for more information,". You'll see such a higher return on your time.

Oh geez i didn't even think about zoning! Thanks for that tip.
In the surrounding neighborhood, it is common practice to turn old mansions into rentals, so i will check that out.

Ofgift: I had read that mansion conversions is common practice on the eastern side of the country and it's good to know that's true. Thank you for sharing!

I'm contemplating the following deal but am still unsure. Could y'all give me your opinions please?

5 bed 4 bath 2 story home full split level basement ( finished) attic 3 living rooms 1 sunroom 2 laundry rooms Sitting on 1.75 acres with single car garage and two vacant lots attached selling for 350k.

I was thinking I could turn it into a rental and convert the rooms into individual units, and turn one vacant lot into a "playground" and the other into a mini garden that the tenants could use.

The only reason I'm at a loss is bc I'm still not sure if 350k is a good deal or not with the current economy. It was appraised at 500k in 2006 and is being sold by the family of the owner who recently passed away.

What do you think??
thanks!

We use those coded e-locks... Where you can change the combo in the morning for someone coming in the afternoon via phone/web then change it back when they're done. That's the only way IMO to give o ut "keys".

My advice is this:
1. Find out if you want to do a Long Term strategy or Short Term. By this I mean, do you just want to recoup your cash or do you want to use the lien as a start into rentals.
2. If Long Term... Get a lien where the owner doesn't have a mortgage. They will be less likely to pay the lien back if that is the only thing they owe on. If short term, go for lins that have mortgages, are newly purchased, or are owned by younger people.
3. Do your due dilligance. Always always ALWAYS see the property before purchasing the lien. If you're not careful, you could end up buying a lien on a house that is half demolished by a tornado or something... No good.

Also, read up on the property as much as possible. Hope that helps!

According to Trump University... All of Florida is online with their tax liens. Many counties in Illinois do as well as new York.

You keep the lien until you either:
A. get your initial investment back plus the interest you've earned or
B. until the repayment time expires without full payment.

Depending on the state, you can either foreclose immediately or go through a legal work process then get the deed. Some states just hand you the title. Every state is different and some states don't do tax liens.

If you send me your email addy ( I don't quite know how else I could send it) I could send you a chart of State/Interest Rate Earned/Redmeption Period/Auction Month

Let me know if that would help :)