All Forum Posts by: Ed Tamayo

@Dorien Gray

Hello,

Looks Like you attended a seminar in tax sales and whole selling.

The answers to your tax sale questions depend heavily on the state where you want to buy.

Some of your questions, while good, make me think that you may need some more basic understanding of things.

With so many questions, you would recommend you look for a book on tax sales in Amazon and read at

Lest the first chapters. That will give you the foundation you would need.

@Adam Zach

I too have an engineering degree .

The industrial engineering program I had included business classes like marketing and accounting that I also use in my real estate investing .

It's good to know that I am not the only one that think that appraisals done by "appraisers" are not done professionally. 

I have run into a few cases. This is one:

I was to sold a 2 year old house in a relatively new subdivision, presumably with many comparables,  to my daughter. I set the price at $180k (which I new was below market)  and she applied for a loan and the appraisal came at 181K. The sale did not go through because she got a promotion and decided to stay in a different state.  I put the house right away in the market for 220K and I got an offer for 225K. (the buyer wanted 5 back as contribution to closing costs). The appraisal came at 226K. 

 I did some research on this a month or so ago and found out it was OK to use it.  Furthermore, I am in Georgia and when i went to register the corporation, I saw they had a list of reserved words (i.e. "bank") and "realty" was not one of them.

LOL. I need a laugh today. 

@Beau Fannon

I have to call out the original posting as nonsensical and insensible .

If I have to spell it out :

Let’s start with the no sense.

If the virus is not controlled for a few more months, people will die, lives will be disrupted and the economy will be affected. If the Fed increases or reduces the interest at that time, it will be just one small thing In the middle of many other forces into play.

Second but as important, the insensibility:

Did I mention that People will die?

Scam. 

There are multiple indicators of a scam here:

1) up front "security deposit".   No real hard money lender will ask for money up front. 

2) "i can't call now".  The scammer does not want to reveal phone number, sex or accent. 

3) "How do you intend to receive funds"  Irrelevant a this time. is intended to give you the illusion of getting the money.  

4) Bad English grammar.  

@Meryl McElwain

Hi,

Great of you for offering to help with any construction question.

This is mine:

I have done some flips and I am thinking in doing new construction and will use my GC for flips and other subs.

I am planning in buying a house plan.

How do I go about contracting the foundation ?

How much are we talking about ?

(House will be around. 2,80

Si ft two stories

@D Weebs

I had not have this situation but my understanding is that in most places the counties will support the original owner.

You may have to go to court and proof that owner was notified.