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All Forum Posts by: Eric H.

Eric H. has started 1 posts and replied 9 times.

Post: Orlando, Florida neighborhoods

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

@Account Closed , 

Thanks! That is very good information. I was not so much using the big sites (Trulia and Zillow) for comps. I go to the County Appraiser site and look at recent sales. When I am closer to making my first actual purchase, I'll work with a realtor who specializes in investment properties to get to the MLS listings. I use Trulia for crime stats, and both that and Zillow just to peek at neighborhoods. I know only to look at completed sales for pricing, not predictive pricing or offered prices.

My goal right now is to find out all I can so when I do dive in, there are fewer surprises (I'd be a fool to expect none, of course!). I'm still torn at this point between REO's, Wholesaling, and Tax Deed Auctions. It's hard to get started in such a network-intensive arena with so little established network!

Post: Orlando, Florida neighborhoods

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

Thank you @Justin Stamper. Perhaps I stumbled upon a poor example. I am very glad to hear that this is the exception to the rule, and I appreciate the input. This is a business I really want to get into, and I am trying to find the best way to enter.

Post: Orlando, Florida neighborhoods

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

How skeptical must one be when looking at listings on CFRI?  I understand "buyer beware", but I'm seeing people selling houses for a given price, saying that with 2K-5K in repairs, they'll be worth double. The picture, in one example, shows a bathroom minus half its shower tiles, and other rooms not looking much better (i.e. I am thinking more like $20K-$30K in rehab to be livable).  Looking at the recent sales in the area, they are all at or below what the seller is asking -- a far cry from double.  I'm brand new to this, but I have to ask how much scamming goes on? Or, is it just part of the game to hopefully find someone to buy without research?

Post: Tax deed in Florida

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

@Patrick L.  No worries about the delay.  I disappeared a while for the holidays as well.  I was able to find out that there is someone living in the place we are looking at. I'd be happy to collect some rent and let them finish of their lease, if they've been paying reliably.

Post: Tax deed in Florida

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

@Patrick L. 

Quick question... when you're buying a tax deed in Florida, what is the current state of occupancy? Have any previous occupants been evicted already as part of the process, or is there the possibility that owners or renters are still there, making it your responsibility to clear the property?

Also, is there a way to know about an IRS lien before you invest? Would the IRS appear as an "Interested Party" on the county's search page or title search report?

Post: Are Tax Deed Sales Lucrative?

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

Wow! This thread is proving very interesting (and educational)! My wife and I, too, are in the learning phase. I'll be picking up the Flipping Houses book and hopefully locating some good legal resources and title companies.

At some point, we, like @Zamir Kazi, will be going to watch the Tax Deed Auctions. I've been looking at the available listings (this is difficult, because they only have the Parcel Number, and you have to put that into the Appraiser site to get an address and details on the property), and we plan to do a "sim".  We'll pick some properties, guestimate what we are willing to pay, and then go pretend to do it. When we get comfortable, we'll then do it for real, and the ball will be rolling.

I am thoroughly amazed at the levels of support this community provides to newbies. I appreciate it all. And it says a lot about how you feel about what you are doing!

Post: Newbie in Central Florida

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

Thanks, James!

Post: Tax Deed sales

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

Understanding that Quiet Title suits probably vary in cost from state to state (and possibly depending on the complexity of the title's "cloud"), can anyone venture a SWAG on what one would expect to pay to execute one between filing fees and legal assistance, etc...?

Post: Newbie in Central Florida

Eric H.Posted
  • Orlando, FL
  • Posts 9
  • Votes 3

Hi All,

Just getting started here. I'm a computer programmer recently introduced to "Rich Dad, Poor Dad" by my wife.  We have decided to make a go at rentals and resells, and I came across BP while looking for information on tax deeds.

Can't wait to really get into things here, and to announce my first purchase! And I am so happy to have found a community of people doing the same thing (and not charging all the crazy workshop fees). I will be taking some workshops on very specific topics, but I expect the greatest font of knowledge will be others in the same boat as me.

Take care!
Eric