All Forum Posts by: Lynn Henley

Wayne ... No, the Tax Deed is being held by the state of AL.

Jerry ... Thanks for the input and suggestion.

Patrick ... I sent a message to one of the other unit owners, and asked him some of the questions you list. I have yet to hear back.

Lynn (FL)

OK, here's the situation...

I have a chance to purchase the Tax Deed on a condo unit on the gulf coast of AL. The complex was destroyed by a hurricane in 2004, and torn down.

Looking at the information about the other units, the owners are still paying the annual taxes, even though there is nothing there. I have been in contact with one of the owners, and he tells me that the other owners would like to rebuild, but can't right now, because of the economy.

I have found the telephone number for the unit I can purchase. Should I even contact them to see what's going on?

If I purchase the deed, what do I have? Should I purchase the deed, take ownership of the unit, and wait and see what the other owners are wanting to do? Or, run away from this as fast as I can?

Thanks,

Lynn (FL)

I set my LLC up myself, entirely online, and I'm in FL.

Lynn (FL)

Write up the lease for $1,170 per month, what the owner would NET ($1,300 - $130). You then Assign your lease to the new tenant for $1,560 ($130 x 12), and you're out of it.

Lynn (FL)

Linton, welcome to BP (not the oil company).

Lynn (FL)

I'm interested.

John,

If you're getting NOI of 21-30%, why deal with tax liens with the max rate of 18%?

Just asking.

I'm also in FL, and invest in tax liens. Feel free to contact me and I'll try to answer any questions I can.

I attended my first tax deed foreclosure auction last week. I agree, it was very educational. I bid on a couple of vacant lots, but walked away empty handed.

Can someone PM me with the contact info for Mr. Hicks?

Thanks!