All Forum Posts by: Tom Myers

Just my take, in Florida most of all worthwhile properties whose taxes are delinquent  are paid  by an investor each year they become past due when the respective  county puts them out for bid. The winning investor wanting to control the property will be willing to pay the delinquent  taxes for the lowest amount of interest as a return on the investment.  This process goes on for at least  2 years until the 3rd year becomes due. The oldest investor can trigger a tax deed sale. An auction is scheduled,totaling up all the  outstanding tax liens plus county fees and accrued  interest as an minimum opening auction bid. The property goes to the highest bidder. If any non government leins were in existence,  they're  wiped out.  Any attached government  liens, IRS, code Violations etc,must still be dealt with by the new owner if they won the bid. If you bid on the property at the tax deed auction you must be prepared -due diligence  is paramount! You must pay in full with non refundable certified  funds.There are no safe warranties in this arena. 

MY QUESTIONS:

1.Finally if you find the delinquent tax payer before the auction, he/ she might be willing to sell you the deed for a very reasonable price but now how do you deal with any Leins  (mortgages,judgements. Government) against  the property  if all you want to do is pay off the tax lien holders and County fees.??? Are most investors looking for free and clear properties w/o mortgages?

2. I have NOT found  in my county, a list that includes both the property owner name And the address of the delinquent.  I can get the property ID and address but not the name of owner. I'm  only interested in SFRS and want to weed them out from all the commercials, condos, mfg homes etc. Does anyone one have some suggestions  on these 2 questions in so far as Florida is concerned?

Thanks in advance for all your help!

Dan Nolan

Good evening , Tom I seen you are looking for a contractor.This company is family ran and do they job well and great customer service .

Here there website :

http://www.gillesconstructioninc.com/

Two things I've noticed after mailing hundreds of thousands of pieces:

1) If you are mailing to people and you don't know how much equity they have, you are wasting a huge percentage of your marketing dollars.  People without equity cannot sell to you at a discount unless they bring a bucket of cash to the closing table, and these sellers don't have money or they would have repaired their houses and paid their house payments.

2) Mailing to owner occupants, even with equity, is a huge waste of money.  Owner occupants are FAR less likely to respond to your mailing as absentee owners.  You need to mail to about 3X the owner occupants to get the same number of responses as you'll get from absentee owners.

Last point I'll make.  Letters are TOO FREAKING EXPENSIVE.  Like more than a BUCK A PIECE.  Postcards are half that (i.e., mail 2X the pcs for the same $$!).  Don't be a lemming and mail those stupid "My wife and I want to $BUY$ your house..." letters.  Be efficient and innovative and direct mail can be a very productive part of your advertising mix.