All Forum Posts by: Jermaine Chad Ingram

@Jose Young Florida tax liens pay out 18% simple interest per year and it accrues monthly @ 1.5%.

As far as time is concerned, I don’t spend too much time on them. I spend more time studying the city and neighborhoods than on lien search. Once you set the criteria for what you’re looking for it gets much easier. The auction is mid year so for about 30 days after the auction I’m combing through the liens held by the county. I determine which ones I want and then I purchase them according to my fund availability.

I do not bid at the auction because in Florida it is mostly pointless due to the global competition.

@Jose Young https://www.biggerpockets.com/topics/759186 I’m working through the process now and have been keeping track of my progress. It may help you.

@Quentin Mitchell What evidence is there that lower and middle income people don’t lose their jobs at the same rate as everybody else or even higher rates as everybody else during the downturn. why would you think that that’s less likely to happen.

@Quentin Mitchell your #2 is very flawed. I live in Miami most of the people in Miami work service jobs most of the people in Miami make under $20 an hour and I guarantee you that when the economy turns down the waiters the waitresses the cleaning ladies the bartenders the massage therapist the yoga teachers all suffer and a lot of them lose their housing

@Bryan Hartlen The quiet title action is another layer of protection for the person having their property taken and seized for taxes, and it also protects you from somebody from the properties past being able to come back and take your hard work

@Peter Gaines Fort Pierce Florida is a great area to look into.

Thanks Dude! I really just want to see the process laid out. I “think” I have an idea from my research but nothing I’ve seen puts it all together for an investor to use as a guideline separate from the contractor or project manager 

@Juan Escarcega take a look at this survey on shared housing. It may help you with your plan.

http://onesharedhouse2030.com/survey/

@Juan Escarcega how many people are you planning to house?

Can you breakdown your initial closing cost? $500 seems low