All Forum Posts by: Michael Lazzizzera

 Brad, the properties are in Prichard, AL.  Just outside of Mobile.  That would be amazing if you could do some recon.  Please PM me if that would be possible.

Roy Oliphant, thanks for the response.  I will definitely take into consideration the issues you brought up.

I just received bids back from the state of Alabama for three parcels that are part of a salvage storage yard/business  It is comprised of 6 total parcels, 2 of which contains the main building and the remaining 4 are the storage yard.  I have purchased one of the rear parcels and was waiting on the bid from the state for the remaining three that were in tax delinquent status, which I received yesterday.  The parcels containing the building have been paid and are not in default, but the storage yard parcels have been delinquent since 2011.  I acquired the first parcel for about $1,750.00, and the remaining three will be around $5,400.00.  Fair market value of the 4 parcels would be around $50K.  Being that the properties have been delinquent over 5 years, I'd be receiving the tax deeds.  Should I decide to purchase the remaining 3 parcels, my questions are as follows:

- Aside from receiving the mandatory back taxes paid + 12% from the owner, what are some other strategies that I could apply to this situation?  Improve property and rent out as a contractor/vehicle storage yard possibly?

- Is there another profitable possibility for this scenario that I am overlooking?

- Should I walk away?

Any input would be greatly appreciated.  I've purchase a handful of tax sale properties and done fairly well, but this is new territory for me.  TIA!