All Forum Posts by: Kiet N.

Fitting/connection "Shark-bite" from HDepot or "Gator-bite" from Lowes allows go from copper to pex/pvc/cpvc WITHOUT sweat (solder)  copper pipe.  

I read in BP forum that you could ask the "former" owner - you are the owner since the tax sale-  to quit claim the lot to you. Offer some money if needed, so you can avoid the quiet tittle action cost. 

@Gerard Gonzalez

I have a business checking acct. for the "front" LLC - to separate from my personal acct. All purchases on personal CCs for rental business then be reimbursed from B. acct to P. Acct. (just a transfer from one acct to another since they are in the same credit union)

@Gerard Gonzalez

I was in your shoes before, and pulling hairs to figure how to deduct same equipment, millage on multiple properties. I finally formed a "front" management LLC - which just serves my properties - then claimed all "in common" thru it.

@Gerard Gonzalez

Not sure how things work in DC. Down here in GA, I search in the county Tax Commissioner and/or Tax Assessor sites for those information.  It reveals names, mailing address if differs from property address, tax payment status (current or delinquent), tax amount... 

I buy left-over from several painter friends - Of course, they are mismatched. As long as they are close in color shade , I then filter and  mix them up in a 35 gal plastic barrel which has a cut-off valve in the bottom to fill up the 5 gal buckets.

By doing this, I pay average $6-$8/gal - The only thing I buy at the store is gloss / semi gloss white trim paint. 

Tip: buy a "$15 off on $50 purchase" Lowe's coupon on Ebay for $1. Now you have 30% discount at the store. 

@Tony Roddenberry

As @Ethan Atkinson mentioned: title ins can be fixed with "quiet the title action" - you just need to budget the cost into the plan. However, there are others to be considered:

1. Capital: when wining tax sale, payment must be certified funds. No mortgage, No HML (unlikely to get loan for - or the interest would out kill the profit ), No flipping (see *3*)
2. Bid size: most of winning bid is 40% - 75% property retails value. Combine 1&2: a deep pocket needed to start.   
3. Owning but no possessing: the new owner (bid winner) CAN'T take possession of the property till the barment procedure is done (12 months + 45-60 days).
4. Insurance: not many ins company will write a policy for tax sale deed. Anything could happen to the property in the 14 months idle.

A safer route would be buying "unimproved" property as 

@Marilyn Mike done. Most of the residential single lot is sold at the minimum bid or unsold. Do watch out for landlock, un-builtable, etc. lots. 

I lived in Clayton County (ClayCo is the nickname down here) 12 years before moved up to Downtown Atl.

After the school system lost its accreditation forcing the residents fleeing to other counties, the housing crash finished with a KO on the real estate market.

I took a gamble, cashed out my retirement acct, and paid cash for 5 doors down here. All was rental ready with minimal cosmetic repairs. They are now my cash cows.

Yes, some peoples scare of ClayCo, but that makes less competitions for investors who understand the local market.

In general, you can get a decent SFH 3-4BR / 2BA for $50-100K - with a rent rate $800-$1200. many older homes is all brick.

Most populated areas (older homes, high demand rental, closer to downtown Atl) : Forest Park, Morrow, Riverdale, Jonesboro 

Most expensive: Lake Spivey

Most rural (newer homes or homes w acreage): Hampton, Lovejoy, Rex, Ellenwood 

@Kurt Z.

I'm all in cheapo solutions - marked down, discounted, open box, etc...  as long as it addresses my need.

Ebay and Craigslist sometimes have great deals from ppl who got the "jammed" smartlocks and/or lost the physical key.    

Kwikset smart-locks (DIY rekey type) failed on me 3 times. The locks just got jammed.  They even have the "smartkey reset cradle tool" to address this issue. However, youtube does have some vids on how to reset w/o the tool.

I now use the keyless deadbolt + bed/bath privacy handle on front doors. End of stories for: tenant locked out, key broke, lock jammed, etc... 

For backup in case of electronic keypad failure, I leave a copy of the key (comes w the keypad) in a combination key lockbox.