All Forum Posts by: Nikki Garner

Thanks yall, for your replies and advice.

@Wayne Brooks my county is very small from what I've seen alot of properties that have bids on them are vacant lands, this area has a lot of hunting/farming potential either they buy for their farming or to have property to lease/hunt during hunting season. Another thing I noticed when reading the FLA Staute on tax and deed liens is if the property is homestead then the min. Bid will need to be 1/2 or 1/4 (cant remember which one was the correct fraction)of the property value along with the back taxes and fees. The good news on this property is it's not homesteaded.  

The property was bought in 1989, and the property owner has a bad habit of not paying the property taxes, they live out of state, there was twice when a cert. Holder tried to do a tax deed but the owner redeemed the property that was years ago, so it been 4 years since he has not paid the taxes, 2 of the cert. Holders is the county one is a company and the 4th year is coming up for auction at the end of the month. My guess why there has been no bids is because of owner redeeming the property twice, and possibly bidders are a little hesitant.  But that's just a guess. (That's only if they are interested in owning the property). I'm still doing my research.  But thanks for all of the advice and what to look for.  :)

Hey everyone, just FYI I have a long story, but I want to make sure I  understand the process before I go forward. I've been looking into Tax Liens and Deed Auctions. I've found a house on a major highway in my hometown that is been vacant for few years, just for curiosity i looked up to see if the taxes have been paid and what do know, the taxes have not been paid since 2013. So I called and spoke with the Tax Collector along with the Clerk of court to get more info. Anyways I found out the first Tax Lien Certificate from 2013 was held by the County because no one came to bid on it that year.  And that I could in fact buy their Cert. And then apply for the Tax Deed, which they will then hold a sheriff sale.  I was also informed Inorder to do that I would have to pay for the other years that the taxes have not been paid. Which totals a little over 3000. And of course pay for other fees the Clerk of Court request like paying to have it advertised in the paper for a month. All in all I would be looking at paying around $5000. When asked what happens at the Sale and how they determine the minimum bid I was told that basically all the fees I paid to have the process started would be the starting bid. If no one bids on the property then I would become owner after paying for the deed transfer and then recorded, basically more fees.LOL but if someone or more than one person bids on the property I would get back all that I paid for along with 1.5 interest in the amount.  Which isn't much but my thought is at least I would be getting my money back and maybe a little more. To me it seems like there's not much to lose if I decided to try my first tax lien/deed investing. The property appraisers office has the the property value listed at just under $20,000 but because the home was built in 1930's and might need some inside work, it might be less than that but the big advantages is that it's on a paved road right inside town and near commercial properties, heck even if I could make $5000 profit from the sale after I took possession, I would be tickled pink. That's saying if all this works out in the sale/funds of getting this all started.  So my question is, did the Clerk of Court explain everything correctly to me or am I missing a bigger picture and could lose some or all of my money.  TIA

Hello everyone,  I'm new to BP, I found this site awhile back when I started looking into Wholesaling I have read a lot of posts and watched a lot of videos.  I'm in the state of FL and I know I can't list or market a property without a license and the last thing I want is to be fined. So my question is on Transactional Funding.  I know I can buy the property then list and resell without a license because legally it would be mine. My understanding with the TF is I would need to close within days of me buying. So is there any Tansactional Funding out there that would give you 30 days to close starting from the day I took ownership? What worries me about that senerio would what if I can't find an investor/buyer. Then I'm in debt and credit is damaged.   What are some of y'all opinions in this?  Should I  just find an investor to work with?  But wouldn't that too be considered almost illegal if they paid me to find properties?  Any advice would be great. 

Thanks

Nikki