All Forum Posts by: Edward Craig

I appreciate that there are costs to maintaining a condo. However, I also see that many of the costs are for amenities that I am not interested in. I am finding that pools, tennis courts, club houses, cable subscriptions are common costs--all of which I have no interest in. Sure, insurance and general maintenance are necessities that should not be scrimped on. I guess I am looking for units that involve costs for the basics as opposed to those that are trying to maintain the facility as a resort.

I am in my early 50's and considering the possibility of buying a small residence for retirement purposes probably somewhere in the southeast. What type of housing to buy is somewhat up in the air--the idea of a condo (all on one floor with little maintenance) is very appealing but the condo fees are not. I have seen Orlando condo properties selling for $24,000 with $450 HOA fees--it seems like the seller is willing to take a loss just to get out from under the monthly condo fees! Are there condos in Florida (or other southern states) with few amenities which translate into low condo fees (in safe areas of town)? Is there a way to look for foreclosed townhouses that are not condos online? Any guidance is appreciated.

Having grown up there (and still visit family) I am familiar with the area. There are alot of small towns near Trotwood that I would definitely check out in buying a home. One of the more attractive on that end of town is Tipp City. If you want to drive a bit further, Troy is nice too. I don't know how much housing costs in those towns, but I know another town near to Tipp (New Carlisle) is definitely a buyers market. The countryside in that area is beautiful so you might want to buy out in the country.

I am a newbie and am investigating the possibility of buying some tax lien certificates. I've read quite a bit on it, but the advice on one topic seems to conflict from one source to the other--what happens when real estate subject to a tax lien certificate is also involved in a bankruptcy?. In one book I read that the certificate always has first priority--in other sources, they go to the end of the line. To clarify, I am not interested in taking possession of the property.

Thanks for the info. It definitely is a short sale, though the realtor handles alot of REO properties

My wife is involved in purchasing a townhouse through a shortsale. I have had no experience with this type of transaction but have tried to read up on it. The one thing that I am unsure about is any possible tax lien. I know that buying the first lien from the bank essentially wipes out any lower liens (unless they decide to redeem) but I know that tax liens are never written off. Who pays the taxman? I have asked my REO realtor about this twice and gotten the same answer--"you will be given clear title."
Is this correct?

Thank you all for the very valuable info!

Thank you so much!!!

My wife and I are considering real estate investment of several types, including vacant land. We have noticed some land REO in a beach community with a very low price. When we go down to see this property, what should we be looking for? What questions should we ask? We are thinking in terms of buying and holding it for a few years, expecting eventual increase in value.