All Forum Posts by: Monica Silvestre

lol thanks @Mark Fries

Thanks for all the support and helpful replies! Definitely learning from my mistakes as I continue on (and I’ve made a handful!) 

Good news that the 5k was with the title company @Ryan Fitzhugh. 

I'm somewhat of a newbie investor. I've bought a handful of properties at the tax deed and foreclosure auctions in Jacksonville and have been looking to start working with wholesalers. Unfortunately, out of all the honest and hard-working wholesalers out there, I ended up doing my first pseudo-deal with a scammer. I wanted to share this awful experience I recently had when buying 2 leads off of a Tampa Bay, Florida wholesaler, DeMarcus Dorch. Hopefully this hasn't happened to anyone else, but even if it doesn't apply to you, take my bad experience as a reminder to do as much due diligence as possible. 

https://demarcusdorch.wordpress.com/2019/09/25/example-post/

Great suggestion, @John Thedford. I considered that, but ultimately they want to hang onto these properties for monthly cash flow so a JV may be more appropriate.

@Ashish Acharya thanks for the info on the fund partnership. I'll look into that a bit more!

Hey investors, 

I have friends and family that are interested in investing their money and having me help them with research, purchase, rehab, and tenant placement. From what I've read, this sounds like a joint venture. I'm trying to figure out the best way to have them transfer me their funds and put some kind of % on top that would compensate me for my time/expertise. 

I want to be mindful of the tax implications we'd both face and would love any advice or referrals to someone who could guide me through the best way to do this. I'd also love to hear of any suggestions on appropriate compensation for this kind of project. 

Investments would be in Florida, not sure if that's important to note.

please send me info: [email protected]

hi @Dillon Eversole just sent you an email about your other post for the 50k. This looks interesting too, can you send me the details?

Thanks @Ray Slack you got to all my questions. Appreciate it.

Hi all,

I'm looking to buy my first foreclosure in Miami and I'd love to hear from anyone that has experience with the county's auction site. 

1) I know many listings get cancelled, how do you avoid paying for full title/lien searches when there's uncertainty in what will actually go up for sale?

2) Is the idea not to get too excited on one property, but focus on bidding on quantity? Do you have to bid on a ton of properties in order to win one?

3) Final judgement amount. Sometimes the number is big... like over 1M. Does the best offer still take the property regardless of what the final judgement amount is? And then is it correct that the remaining amount from the final judgement amount does not carry over to the new owner (ie. me)?

If there are any agents that specialize in Miami-Dade foreclosures, and have experience with the online site, I'd love to talk.