All Forum Posts by: Jeremy Holcomb

I don’t believe you will find much for $105K ready to rent in a decent neighborhood. The only neighborhoods you will find that in won’t be a good fit for an oos investor. 

I have two of what I consider my best deals. 

First one was back in 2002. I purchased a four plex for half of it’s appraised value of 90K and I walked away with 10K in my pocket at closing. The second deal was a one acre property with a dilapidated mobile home, well, septic, and power for $4k last year. 

@Jacob Powers I am in Florida and have been using this strategy. I’ve also been acquiring lots to either build or place a mobile home on later. Lots are extremely inexpensive most of the time. 

Is anyone else here buying tax deed properties for rentals? I’ve been acquiring properties as fast as they show up on the list either at auction or through the counties direct. Just wanted to see if there are any others using this method. 

@Shay Nir,

I currently perform this position in New Construction in NE Florida and my rates for hourly is $30 per hour or 6.5% of total cost. Keep in mind someone will not keep up at only two days a week of property visits. This is typically set up as an owner’s representative position through a Power of Attorney for each project in order for permits to be pulled and is done through a contractual agreement. 

Just because they have a good head on their shoulders doesn’t mean they will be good in business. Partnerships work if there is an operating agreement in place at the beginning. They can also fail. The best thing about going alone is the decisions stop with you. I have a personal philosophy that friends and family don’t mix well with business. It’s a personal decision. If you do partner make sure agreements are in place beforehand. 

It depends on if you invest in Class A, B, C, or D. If classes a or b absolutely. If not, it’s just something else that can break and I wouldn’t personally do it. 

@BRANDON CHAMPAGNE All of those costs are variable to the area the property is located. Also, at least in Florida we have to obtain a special permit for an RV Park/Mobile Home Community. Also, are you close to municipal utilities or are you going to have well and septic tanks. 

Look for properties not listed on the MLS. Many people call it driving for dollars. Go into a neighborhood you want to invest in and talk to people and see if they want to sell their property or know of someone who does. Also, look for empty houses and look up the owner through county records and contact them.

@Grant H Willcott The group is on Facebook and you can find it by searching for St. John's County REI