All Forum Posts by: Raghu Kontakts

@Kyle J.

You're absolutely right on the guesstimate part. What we don't know is a big what we don't know until we get to see the state of the property. I chose to apply that formula since I have to start somewhere IF I end up buying one in tax deed.

@John Underwood this is interesting and much unlike Florida. Learned something new today. Thank you for sharing that John.

@John Underwood, not tax liens. Only tax deeds. I learned over the last year that here in florida big investors are buying all the tax liens for .25%. I am really interested to know their thought process in buying them for so low. I heard that if a property owner pays their dues within the 1st year the tax lien holder is guaranteed a minimum of 5% return. Don't know how much truth is there in it and if that's the case maybe that's the reason they are buying up everything.

Do you buy Tax liens only in SC or do you buy them from other states too? If so, how do you keep money rotating if you are buying 25 or so liens? 

Thank you for sharing your thoughts @Steven Quinones. Budget is definitely one of the criteria on how I'm narrowing down the properties and you are absolutely right on market being hot and big investors scooping up everything. The other day there was a property whose starting bid was $4000, the property was ok with respect to the maintenance and it being in a 'D' grade pocket of 'A' class neighborhood but it went for $270~K, that was unbelievable.

I need to find a good agent but I was having hard time connecting with one being a rookie "investor" if I can call myself that. The title part is where I am having second thoughts on this approach. I realize it is absolute necessary to do proper title research but want to know if there is a way to minimize our costs in that title research process.

Hello,

A newbie just starting to learn the basics of owning real estate. I learned about the possibility of buying homes thru Tax deeds afer reading RichDad PoorDad. I have created an account with the county's auction site(Broward county) here in Florida and following the process for months to understand, however I feel like I do not have enough information on things to consider before I pull the trigger and buy one.

Following is the criteria that I'm following to buy one...

01) Narrow down to few properties out of the list for focus

02) Picking only those that are in my range i.e 70k

03) Picking only those that can be bought at 70% of After repair value minus ~15k expenses.

04) Making myself familiar with the neighborhood of the properties by driving thru. Choosing properties that are 'B' or 'C' grade on Niche.com.

05) Going thru county records(honestly I don't know or comprehend what I have to look for here except special assessments)

Please suggest/advice if my approach is wrong or need alterations.

First one in my family/friends circle to venture into this area, so absolutely have no idea where to begin or discuss apart from reading books watching YouTube videos listening to podcasts and now ending up here on forums.

Thank you