Okay hard money pros...Scenario:-A fully licensed real estate (deeds...not money) broker in California wishes to make hard money loans at very high interest rates in trade for aggregating money sources for fix-and-flippers and providing the fund apparatus where they can pool investors' money-The broker/lender inserts a choice of law provision in the contract stating that the laws of California apply-The broker/lender loans on projects in other statesI read in other posts that people have received advice from attorneys stating that the choice of law provision somehow "imports" the rules of Cali and allows one to lend at usurious rates.

Joel,It's a tough decision.

Basing a buying decision on a comparison to the tax appraised value sounds very stupid to me.

As I mentioned the only thing making the decision somewhat difficult is the fact that the taxes are so low.

That is why you want to buy below Market Value.Market Value is the price an asset will trade (sell) in an open competitive environment.Defined as follows: Market value is the estimated amount for which a property should exchange on the date of valuation between an educated buyer and a reasonably motivated seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without undue influence.The delineation of "After Repair" or "As Is" technically exists only as jargon amongst REI groups and conversations.

It's your decision. :)

Once I get enough information to satisfy myself to make a decision, I make one and am great with it because I took the time to research.

Thanks Jack,I am looking for someone that can teach me the steps to buying tax liens, what things I need to look at so I do not make bad buying decisions.

One election covers all crops representing a single trade or business.

I made a very conscience decision to enter into RE and have repeatedly chosen to stay in RE despite having received some rather lucrative offers in other industries.Since I left my last corporate job, I've obtained 2 professional licenses, one of which required a heck of a lot of aggravation to lay hands on.