All Forum Posts by: Michael Lazzizzera

Well said, @Lynette E. A perfect example of this would be the recent 2019 San Bernardino County tax sale. It's mind blowing what people will pay for junk & well over market value for similar properties on the MLS. I was amazed at how high the bids were going on unbuildable land, properties without easements and others with the structures removed. I'm not sure if anyone came away a winner from that sale.

@Ned Carey, I will definitely look into this, really appreciate the input.  This has definitely been a learning experience, to say the least.  It's really tested my resolve, that's for sure.

In June, I purchased a house at a county tax sale.  It ended up being beyond economical repair, so I sold it to a local investor at a loss.  I sent him the quit claim deed the following month and received payment.  A few weeks later, the county code enforcement sent me a nuisance abatement letter for the property being overgrown and trash.  This was one of the main reasons why I wanted to rid myself of the property quickly, since I live out of state and couldn't handle this myself.  Before this happened, I kept on the investor to file the quit claim but he ended up taking two months to file.  On top of that, he had the wrong legal description on the deed (something I should have caught), so we had to file a new quit claim deed.  Today I received a bill from the county for almost $3K for property cleanup, something that I shouldn't have been an issue since the deed should have been filed months before the nuisance abatement letter was received.  

I don't know what is the move at this point.  To be fully honest, I am still new to tax sale investing and am definitely paying my dues with this property.  Would appreciate any advice on what course of action to take.  

@Justin Vermuth, sent you a PM.  Thanks.

@Cherie Ganesh, it would be greatly appreciated if you could check your network for someone with experience in billboard investing, any further guidance helps.

@Kevin Fox, sent you a PM, thanks.

Thanks for the excellent info, Cherie!  The billboard is legal and along a major interstate in Southern California.  I had considered all of the options you suggested & will be contacting billboard companies to see about leasing it.  The cell phone antenna is another idea that I need to look into.  Do you have any advice regarding negotiating a billboard lease with a major company?

I recently purchased a property at the tax sale that has a billboard on it.  It is two-sided and currently not in use.  I am wondering what the best strategy would be:

- Lease to major billboard company

- Lease it myself

- Sell the property outright

This is a first for me, never had to deal with a billboard property before.  Any input is appreciated.

 Just sent you a colleague request and parcel numbers, thanks Brad.

 That's correct, an eviction would be the next step.