All Forum Posts by: Dan Bayard

@Sam Shueh you are on to something there. The Trump tax cut was supposed to "increase wages" to the working class but that has not been realized. Instead, the housing has not stopped rising and for the most part, in my area owning a house/condo/apartment to rent is more than the going rates for the rental market. And in most cases, that is only P&I + Taxes + HOA. Not including any contingencies for maintenance and capital costs.

https://twitter.com/business/status/1020645157035704320/photo/1

Currently I am working on starting my rental portfolio and I have to admit I am struggling to find a financially sound investment up to this point. Not sure who mentioned it earlier in this post but it seems like everyone is buying tons of doors but I don't understand for one minute how they plan on making money!

I have evaluated over 50 properties and made only 1 offer. In some cases because the financials simply don't work, it most cases because they are grabbed up too quickly at full price offers. At first I though I was too conservative, but now I think that some of the opinions above regarding coastal investors bidding up OOS markets could be to blame.

I think it is amazing that people have already begun to forget the lessons of 2008. I was one of the people back then, yes I was young and ready to rule the world, who paid way to much for something that was not worth it.

Probably my biggest lesson was learning to ask myself a simple question: "Is this worth what they are asking".

This has probably kept me from buying many properties but if it has saved me from buying a bad one than it is worth asking. I live in Palm Beach County, FL and we see some huge property value changes. The property I reference above I originally purchased for $155K. At the crash of the market I was able to short sell it for $27K. Today, it currently has a value on Zillow with many recent comp sales at $170K. This is a 1955, 800 SqFt house...nothing to write home about. Ever since then, I look at the price per sqft when evaluating homes and I use that house as an indicator of the sanity of the market in the area.

please send info to [email protected]

Do you have a management company reference in Memphis?

please forward your financials to [email protected]

thanks

I have a tax lien certificate in Palm Beach County Florida. I purchased the certificate in 2012 and had the 3rd certificate on the property at the time. The next 3 certificates went to the county. In 2015, the county applied for the tax deed and since then there has been no movement through the tax deed process.

I have called the county and they say they do not know when the Clerk of Courts will schedule the property for auction. My contingency plan was that the 2 people who hold the liens ahead of me would take some action to speed up the process, but as it stands, the owner of the 2010 lien appears to have done nothing and the owner of the 2011 lien has until June 2018 to do something.

My questions are the following:

1. What is the process when a tax lien certificate is applied for tax deed auction by the county?

2. Do the tax lien certificates owned by us individuals freeze until the auction date, and by freeze I mean do they not expire?

3. Should I be prepared in 2019 to pay for all the outstanding liens against the property to ensure that I don't lose my investment? (Note the county did not actually pay off ours liens, we have simply gone into limbo and the county only  had to pay the application fees to the Clerk)

Any help on this one would be greatly appreciated.

Thanks