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All Forum Posts by: Rita Merlo

Rita Merlo has started 3 posts and replied 8 times.

Post: Tax Deed Auction Real Estate

Rita MerloPosted
  • Posts 8
  • Votes 2

Hi Bruce,

Thank you so much for your informative reply! This is all really helpful! I appreciate it :)

Post: Tax Deed Auction Real Estate

Rita MerloPosted
  • Posts 8
  • Votes 2

Hello!

I have been looking into tax deed real estate particularly in California; I live in Los Angeles.

What has been people's experience with dealing with the dwellers/owners/renters of these tax deed properties? I'm hesitant due to the California laws that favor renters over landlords. 

Do most people wait 1 year for the redemption period before doing anything to the property?

Is your new property tax based on the assessed value of the home or the price you purchased it for at the auction?

I understand that it is advisable to do due diligence before bidding. What does your typical list of these things include?

Are there any particular strategies people use for bidding in these types of auctions?

Thank you all!!

Thank you all for weighing in! 

I heard from a realtor friend that her networks are talking about how they foresee a big drop in population size as years go on. Millenials are not having kids or starting families much later. Does anyone have information about how this could affect real estate in the future? Thanks BP!

Thank you for sharing these thoughts! Really appreciate it.

WOW! Thank you all for such amazing advice. I really appreciate this feedback.

I am buying my first multi-unit property; a 4 plex in Texas. There is only 1 water meter for the whole place, so the previous landlord has been paying the water bill. Water bill is about $150-$200 a month. Going forward, I do not want to pay the water bill. Any ideas on what would work best for this situation? Would I just make the property manager split the water bill between the 4 units (perhaps based on square footage)? Is there some device I could buy that separately meters the water usage? Should I charge a flat- fee for water? Just raise the rent? Would really appreciate your thoughts on this!