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All Forum Posts by: Robert Dobbs

Robert Dobbs has started 3 posts and replied 110 times.

Post: Vacant lot - easy wholesale

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Hi Andy, ...very nice to hear from a "fellow land brethren"!!! I "live and breathe" land assignments, flips, owner-financing, "land swaps", bank reo's, bulk-buyer of donated land (I.e., "Habitat", etc.), "Top-Rated Seller" and a past "Power Seller" of land on eBay, "email-blasts" and more! If there was a crazy, "out-of-the-box" example of a land deal, ..."I've been there, done that"! LOL! My "claim-to-fame" is to "buy cheap and sell quickly, ...below market"! Always "standing-out" with the phrase, 100% clean, "free and clear" title guaranteed or your money back! ................Best of luck and good "health and fortune" to Andy and Company!

Post: Financing Construction of Owner-Occupied Fourplex

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Also Scott: Check-out allo the Grand Junction real estate investors' clubs in GJ. These clubs can be a wealth of information for you. Here's one noted RE investor club in GJ: Western Colorado Association of Real Estate Investors. 



Post: Financing Construction of Owner-Occupied Fourplex

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Possibly a FHA loan - 3.5% down with good credit --- Are you a military veteran? VA loans could be as low as 0% down! --- Check out the top mortgage brokers for Grand Junction, CO, ... listed on Angie's List! --- Banks and Credit Unions may surprise you! (follow-up from above on Heidi Emmendorfer's suggestion. I.e., Scooper Credit Union in GJ and Jacob Sampson's good advice on GJ banks! --- Lots of good luck to you Scott!

Post: Forming LLC in Florida

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

I agree with attorney, Dan Barli's advice. Get good local legal real estate advice. Questions you might ask a real estate attorney: #1. Should I consider a separate LLC for each rental? (Why? Maybe you can have extra layers of liability?) #2. If I already own rental property(ies) via my personal name, do I have to transfer ownership of each rental property to an LLC (or LLCs?) (Why? Maybe to remove personal liability out of your name?) #3 If I have financing on my rental property(ies), will the banks or lenders, allow me to transfer "out-of-my personal name" and "into an LLC"? (or maybe the banks or lenders will make me refinance my loans to the LLC(s)? #4 Are the costs of setting-up separate LLCs worth it? (Why? By having separate LLCs, which may separate liability for each rental property, worth the price of having separate LLCs?). Also Brandon, see if there are any established "real estate investment clubs", active in Bay County. If so, you may pick-up a wealth of good information, contacts, education and even some good deals on more rental properties. Owning good rental properties in Panama City (and Fountain too!) sounds great! Good luck Brandon!

Post: Placida / Punta Gorda FL Real Estate

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Hi Kwambe! In Placida Florida (I.e., Charlotte County Placida is an unincorporated community, outside ), there are huge subdivisions called Rotonda (I.e., Rotonda Village, Rotonda Meadows, etc., south of the more developed area called Englewood). I'm "rough estimating" for every 100 vacant lots there is one home built in Rotonda. Many of these vacant parcels are small (75 x 100 ft. or 0.17 acre, or an est. 7,500 sq. ft., 75 feet of frontage). Typically, these small lots at the tax deed auction are selling at a minimum of $2,000 each. Who knows? Prices could "explode upwards" someday in the future if Florida builders start building "block after block" in the Rotonda subdivisions. If you can, pick-up "tax deed" lots with larger square footage (minimum of 100 feet of frontage), corner lots, and lots with small canals in the back, that can be obtained below "Charlotte County assessed land values", you should be ok (and must be on a paved road!). Just remember Kwambe, there are hundreds of vacant lots in Placida (Rotonda subdivisions). On the other hand, vacant Gulf oceanfront Placida parcels, can sell for "six figures" with some even selling for "seven figures", yikes! (I'm sure, rarely not tax deed material! LOL!!). Good luck to you Kwambe! 

Post: Help valuing Mobile home park

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Hi Mike! Older mobiles, not in good shape may have "unseen issues", like subterranean termites. Over the decades, "leaky air systems", bad plumbing, years of moisture causing rotting wood are "termite magnets" for older mobile homes. May not be an issue for this park, but worth checking-out (I.e., those mobile home "wood-underbellies"). Could be a very expensive issue. Good luck Mike! If you get the right "price and terms", and are willing to  put in a "ton of work", a 15-unit park can make you money.

Post: Newer Real Estate Investor - Mansfield, OH

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Hi Mark, good luck to you! I'm a seasoned land guy in Florida. I began to sell land on eBay over a decade ago (and sold some on Craigslist too!). Currently, there are (5) "Tennessee land listings" right now on eBay (I.e, Harriman TN, Pittsburgh TN, Shelby County TN, and more!). I'm quite confident if you have quality build-able Tennessee land (with clean, "free & clear" title) , you can sell it on eBay (if the "price is right"!). I mostly sell on eBay, via doing short-term "owner-financing" deals (I.e., via "Lease-to-Own"). If I sell land on eBay with clean title, my listing states: "100% clean, free and clear title is guaranteed, or your money back". I've never seen another seller offer that guarantee to their "buyer-prospects". Only me! I know I always have 100% clean title, so it's like "I'm giving away free snowballs in Alaska in winter!" LOL! (In all my years, selling land on eBay, I never had to refund anyone, because of bad title!) 

Again, ...good luck to you Mark!

Post: Placida / Punta Gorda FL Real Estate

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Also Kwambe, most Florida tax deed parcels, will have their "title cleansed", automatically, after 48 months, per "under the Florida Constitution". So if you can "salt-away those tax deed parcels" for four years (I.e., 48 months), ...you should be able obtain title insurance from any title agency, when you sell or transfer those parcels.

"Suits for quiet title" are very cumbersome, expensive and can possibly take well over a year to complete! 

Note: There are certain "title insurance underwriters" (I.e, such as Old Republic Title) that offer "speedy title remedies", ...via "bonding programs", that can offer "quiet title alternatives", in as little as 20 days! (I.e., still a bit costly for vacant lots, but still very timely for tax deed investors). (Kwambe, Google "quiet title alternatives").

Also: If you can win a "bunch of tax deed parcels" that were all from the "same prior owner", in theory, you can pay just one "quiet-title fee" for that "bunch of properties", as long as all the tax deed parcels had the same prior owner. So for example, if you won 5 different tax deed properties at a "tax-deed County auction" and all were owned by the same "prior-owner," you can simply do one "quiet title action" for all five properties! Wow!

What I have done over the years, was to win some great deals at past "Florida tax deed auction/sales. I then marketed them via short term "owner-financing" (I.e., via a "Lease-to-Own" owner-financing agreements). I carefully explained to my "tenant-buyer prospects", just how tax deed parcels will have their "title-cleansed", automatically, under Florida Constitution, ...after 48-months! I guarantee that all the tax deed parcels that I "owner-finance", will have 100% clean, "free and clear" title in 48 months, ..."100% guaranteed by me or their money-back"! (It's like "giving ice away in the winter", as "any and all" title issues will be "cleansed by Florida" automatically in 48 months!). The only exception to "this automatic 48 month cleansing" are Federal liens (I.e, "IRS liens"), State liens (I.e., unpaid State fines, child support, probation fees, etc.) and Local Government outstanding liens (I.e., unpaid code enforcement fines). I do my own due-diligence (I.e., my own "title searches" on the various "County Clerk" Websites), where the County Tax Deed Auctions are taking place.

It takes some "time and a learning curve" to learn the "ins and outs" of tax deed sales and auctions here in Florida. I noticed the same buyers, "month after month", successfully bidding-on and winning tax deed properties. Do not "over-bid", set the price you are willing to pay. If you are out-bid, ..."let it go"! If you have to bid a "dozen parcels", to finally get one at the "price you desire", so be it!

Post: Placida / Punta Gorda FL Real Estate

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Hi Kwambe, Charlotte County currently has over 1,600 active MLS "vacant land" listings. And a good percentage of these listings are in Punta Gorda.

Look for:

Parcels on paved roads.                                                                                                  Try to obtain lots with 80 feet of frontage (I.e.,two adjoining 40 foot lots will be ok!).    You want to see homes already built "on the block".                                                      Flood zones "AE" are ok (1% chance of flooding - I.e.,"100 year flood").                            "Motivated Sellers" (I.e., "good deals"!).                                                                            Of course, 100% clean, "free and clear" title, ...along with property taxes "paid current". You want Punta Gorda parcels located in the developed subdivisions  

Otherwise Kwambe, there are "a ton" of Punta Gorda parcels just "sitting on the MLS".

The parcels that I want, ...have "most of the ingredients" listed above.

Good luck to you Kwambe!                                                                                              

Post: 27 y/o Female – 50k debt to $1M+ net worth (24 units,50 deals/yr)

Robert DobbsPosted
  • Residential Real Estate Agent
  • Delray Beach, FL
  • Posts 115
  • Votes 83

Wow! Very inspiring!

"Each and every" NEWBIE that is "looking to find their way" into real estate investing,

look how this wonderful couple began: "They joined a REIA"!

"Take a cue" from this "very cool real estate couple" and consider joining a local "REIA" (I.e., a "Real Estate Investors Association") in your area.

The "power of local networking", learning and "being inspired" from local successful RE investors in your neighborhood; 

You! ...just may become yet another "real estate investor success story" to post here on BP!

So, ..."join a local REIA or local real estate investment club"!

The sky is the limit! Good luck!

Bob Dobbs

Capitol Homes Real Estate (Licensed Florida Real Estate Professional)

Land Rescue League Trust (Settlor and Trustee)

Land Rescue League, LLC (Managing Member)

The Renaissance Trust (Settlor and Trustee)