All Forum Posts by: Victoria Lee

@Account Closed that's great. I like the idea of cutting the auction out. What is your success rate of buying it from an owner prior to the auction? Do you then go and redeem it and have the owner sign it over to you?

@Dan Mahoney

I thought about that, too. And you're right. I did make sure to do my due diligence and research for a month ahead. Of course, being that I am inexperienced, there are probably things I didn't know or think to research, those are what I am afraid of. 

And yes, that's true. If I win it at such a low price, maybe something is wrong. But I checked the past few months of auctions (I live in a very rural area so I am hoping it's not as competitive in my county as it is in the bordering counties) and similar properties, even nicer and more expensive properties, have gone for around starting bid. Truthfully, many of the properties go for around starting bid with very little bidding. I'm nervous because it's my savings, but I have to give it a shot to learn. 

Any advice about tenants, if by chance, I do win? 

I checked 3 months back, it doesn't look like many of the prices get bid up too high. The home is worth an estimated 38k

I am a single mom with a savings account of around $10k. Nothing big compared to investors.

However, I have been doing research on Tax Deed auctions in my county in Florida. I found a property last month that is up for auction this month. It's a small block home in a subdivision. The opening bid is $6800. I checked for other liens by searching on the county website. I went by the property, looks like there are tenants (this was before the new year, not sure if they are still there). 

I don't have my hopes up, I know there are investors looking to flip. I don't have the money to compete. But, if I can put in my proxy bid and somehow win it, that would be nice. No big deal if I don't, I will keep trying. 

My questions are:

1) What is the probability of actually winning this bid? Or will investors hike it way up above my means?

2) If I do by chance win, and there are tenants, how do I go about removing them? The original owners passed away, it was then given to a trust company. I am assuming they rented it out. How do I take possession without too much cost involved?

This is my first rodeo, so I am learning as I go. Any advice would be appreciated.

Thank you!