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Welcome to the Queen of Tax Deeds Blog
This is where you can find the latest news on tax deeds and be included in conversations regarding the topic.
If you would like to post a comment, press the comment link under the latest thread. All post are subject to approval and will be posted once they are approved.
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Queen of Tax Deeds BLOG / Sandra Edmond
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February 9, 2012
OMG! Streetview Got Me!
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OMG! Streetview Got Me 
I was just showing someone how to use Google Streetview to see pictures of a house and neighborhood as though you were on the street when I SAW MYSELF and a friend in the streetview trying to break into a house we had just bought at the auction. I always wondered if people saw the vehicles coming... now I know they just creep up on ya! How long do these pictures last? Probably until they go back around to that neighborhood to get a new picture, which could be another year. Here’s something cool. If you click on the link it will take you to the streetview picture. If you zoom into the white truck’s glass you can see the reflection of the Google car as it rode by... it’s a green and white car that says Maps on it. bc they take it from the public street and don't use the zoom it is completely legal but they could've at least tap the horn and given me a heads up so my booty wouldn't been in shot!
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February 9, 2012
Homestead Exemptions
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WHAT IS A HOMESTEAD EXEMPTION? The deadline for filing for your Homestead Exemptions is March 1st for many counties.
Homestead Exemption is a tax reduction for homeowners who make their property their permanent residence. If approved, this exemption could reduce the taxable value of your residence by up to $50,000. The first $25,000 of this exemption applies to all taxing authorities. The second $25,000 of exemption excludes School Board taxes and applies to properties with assessed values between $50,000 and $75,000. As a result, the homeowner would get a substantial savings on their property taxes.
Homeowners must file an initial application once they have moved into the property. The Homestead Exemption will be automatically renewed each year and a renewal receipt will be mailed to them as long as NO changes have occurred to their exemption status. (i.e. mailing address, marital status, etc.)
Other Types of Exemptions: Senior (amounts vary), Widow's/Widower's ($500), Disability ($5,000), Blind , and Disability.
The type of exemption benefiting the largest number of property-owners is the homestead exemption. If you own property which you use as your primary residence as of January 1, you may apply for homestead exemption. . This will reduce the taxable value of your home up to $50,000, resulting in substantial savings on your property taxes.
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February 9, 2012
Got Armed Guard!
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If you are buying tax deeds and paying with a cashier’s check you may want to make sure that you check with the county on their policy regarding when your tax deed will get recorded. Recently we bought a property and usually the way it works is that you pay your deposit at the time you win the auction and return either that day or within 24 hours to pay the balance off. Ordinarily the clerk’s office accepts cash or a cashier’s check and they promptly record your tax deed. Well not this time at this particular auction. They are now putting a 10 day hold on cashier’s checks.
Turns out someone burned them at a foreclosure auction, perhaps they stopped payment on a cashier’s check. Now the clerk in this particular county will not issue the deed until 10 days later if you are paying with a cashier’s check unless you are paying with cash. I guess you can bring cash, but... Got an Armed Guard? --- to come with.
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January 6, 2012
U.S. is top 2012 property investment pick
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U.S. is top 2012 property investment pick
(reprinted from Reuters Jan 1, 2012)
The United States will remain the top choice of most global commercial real estate investors in 2012, but the country has lost ground to Brazil which ranked No. 2 this year, according to a survey released Sunday. While the United States offers the most stable and secure option in commercial real estate, investors said improvement in rent and occupancy growth and the repeal of a 1980 foreign investment tax would have the strongest impact on their investment decisions, according to the 20th annual survey of Association of Foreign Investors in Real Estate (AFIRE) members.
For about the past year or so, investors in U.S. commercial real estate have focused on gateway cities such as New York, Washington, Boston, San Francisco and Los Angeles, driving prices up and yields down.
Meanwhile commercial property in Brazil, with its bubbling economy and safer investment environment, has become a hot spot for global investors. Sao Paulo, Brazil's largest city, jumped to the fourth best city for real estate investment dollars in 2012, up from 26th place last year.
The United States is still very desirable and was second behind the UK in attracting cross border investment in 2011, according to Real Capital Analytics preliminary figures.
"The negative is it doesn't promise a whole lot of capital appreciation because the prime markets are already fully priced," AFIRE Chief Executive Officer James Fetgatter said. "By no means will Brazil replace the U.S., at least not in the foreseeable future. Brazil is considered now a much safer place to invest and a place where you can get capital appreciation and good yield."
AFIRE'S survey respondents hold more than $874 billion of real estate globally, including $338 billion in the United States.
Sixty 60 percent of respondents said they plan to increase their investment in U.S. real estate in 2012, down from a record 72 percent last year, according to the 20th annual survey.
Some 42.2 percent said they believed the United States in 2012 would offer the best opportunity for the price of their commercial real estate investments to increase, down from 64.7 percent last year's survey.
The United States lost ground to Brazil, with 18.6 percent saying Brazil's property market offered the best growth opportunity for their investment dollars. That's up 14.2 percentage points, moving Brazil up to second place from fourth, and pushing China down to No. 3, according to the AFIRE survey.
Seventy percent of respondents picked one of the three countries as their favorite, while the remaining 30 percent had top choices from 13 other countries on five continents.
Respondents said they would invest more in U.S. commercial property if the fundamentals of rent and occupancy growth were stronger.
Another U.S. barrier respondents cited was the Foreign Investment in Real Property Tax Act (FIRPTA). The 1980 act, originally designed to protect farm property from foreign ownership, subjects foreign buyers to both their domestic and U.S. taxes when they sell their investment, unless their home country has a taxation treaty with the United States.
FIRPTA opponents have argued that the act unfairly penalizes foreign investors of real estate. Such double taxation does not apply if they buy U.S. stocks or bonds.
As for the top cities for foreign investment in 2012, New York remained No. 1. London moved up to No. 2 from No. 3, swapping ranks with Washington. Sao Paulo was fourth, and San Francisco moved up to No. 5 from No. 10 last year.
Europe's sovereign debt problems and looming recession pushed most of the countries there - except for a few such as Switzerland and Poland - off the map for real estate investors. Germany lost about half its support among respondents in terms of stability and price appreciation, according to the survey.
Emerging markets also seem to be getting more popular among potential investors. Respondents identified 25 countries they would consider for investment, up from 18 last year. Brazil topped the list, with China in second place, as each did last year. Turkey moved up to No. 3 from No. 7 last year. India and Vietnam each dropped down one spot, to No. 3 and No. 4 respectively. Appearing for the first time were Colombia, at No. 10, Hungary at No. 12, and Qatar at No. 17.
As for U.S. commercial real estate, respondents said that this year they would most likely invest in apartment buildings, the fourth consecutive year multifamily topped the list. Of all the types of U.S. commercial real estate, the multifamily sector has not only recovered from the post-2007 real estate slump but rents and occupancy are even stronger than before.
Warehouse and distribution centers ranked second, up from No. 5 last year. Office properties were third, up a notch from No. 4. Retail properties - shopping centers and malls - slipped to No. 4 from No. 2. Hotels ranked No. 5, down from No. 3 last year.
The survey was conducted in the fourth quarter by the James A. Graaskamp Center for Real Estate, Wisconsin School of Business.
(Reporting By Ilaina Jonas; Editing by Richard Chang)
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January 6, 2012
11 Must Haves When Looking at Property
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 11 Must Haves When Looking at Property
1. Business cards
2. A Pleasant demeanor and self confidence
3. Flashlight
4. Sneakers or boots
5. Writing instruments
6. Bug/Wasp Spray
7. GPS
8. Contract - Purchase Agreement, Option Agreement
9. Tools
10. Friend (especially if the property maybe vacant)
11. Digital Camera or Camera Phone
A pleasant demeanor goes a long way along with the ability to communicate with a home owner as well as a tenant or vagrant and neighbors. I find this and self-confidence to be one of the best tools to getting the information you need or the outcome you desire.
Your self-confidence goes a long way. If you don't believe in yourself why should anyone else. People can sense your lack of self-confidence about as well as a dog can sense fear. On that note if you find yourself in fear, its ok, just DON'T SHOW IT. I won't go into detail here in the newsletter about the techniques but I will warn you that it is not as easy as you think. It's important that you think ahead about why you are going out to the property and it's also important that you imagine and prepare for every scenario that can happen. There are a variety of techniques investors implement when using some of the items I've listed above, some techniques may not be as obvious as you might think.
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January 6, 2012
One of the Largest Tax Sales in the Florida Hits the Net
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One of the Largest Tax Sales in the Florida Hits the Net
Duval County's tax sale, where Jacksonville is located, announces it is going digital. Beginning in January of 2012 the sale will be online. Jacksonville is the country's largest city land-wise because the city is the entire county. Researching that sale is usually a mammoth task because the list is often 25-30 pages long on legal size paper! Yet, still the sale brought in about two hundreds investors from all over the country to crowd a large courtroom for sometimes 8 hours or until every property is sold.
The clerk who conducts the auction usually asks the crowd if they want to break for lunch or keep going. "Keep going," everybody yells. I was among these die hard investors for years making it to Jacksonville at 7am after driving two and half hours. At least now the clerk will not have to worry about losing her voice half way through the sale. Whether it's online or not, the hardest part about that auction remains to be researching all those property. You can view the list of properties coming up for sale along with other research you will need for the sale at www.FYITaxSaleList.com
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December 6, 2011
Mortgage Company Fights Tax Deed Sale
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One of the most popular questions people ask me, "Do bank mortgages really get wiped out by a tax deed sale?" Yes! As long as the bank was properly notified.
Recently an Appeals Court ruled against a mortgage company that tried to fight a tax deed sale. This all started about a year ago when Wells Fargo (formerly Wachovia) received notice that one of their Indiana properties they had a mortgage on was going to the tax deed sale. Instead of SOUNDING THE ALARMS at the bank (or going to DEFCON 1!) they sat on the notice and didn't do anything until it was too late. Indiana like most tax deed states notifies mortgage holders of pending tax sales, Florida gives the lender at least 20 days to respond. Apparently nearly a month's notice is just not enough time for the these banks to take action.
I often watch properties with a mortgage go to tax deed sale and sure enough, the larger the bank the less likely they will redeem the property in time. I don't know if it is because these corporations are so big that information crawls at a slow pace up the corporate ladder or they just get more mail than they can handle. By the time the notice is given to someone who would know better... it's too late. In most cases these notices are sent Certified Mail, which should indicate to the person receiving the mail... THIS MIGHT BE IMPORTANT. All I can say is their loss is sometimes a tax deed investors' gain.
Wells Fargo fought the sale in trial court and when they lost there they filed an appeal. Wachovia appealed on the basis that they believed the notice should have been sent to an executive officer or agent of the company instead of how the State Law governing tax deeds dictates. This October the Appeals court ruled against them. Wells Fargo lost the case and their mortgage.
Indiana law says --- Each tax sale notice must be sent to the owner of record at the last known address of the owner and to “any person with a substantial interest of public record at the address for the person included in the public record that indicates the interest."
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December 5, 2011
Important Dates Coming Up
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Mar 1- Deadline to apply for Homestead Exemption
Mar 31 - Deadline to pay Property Taxes
April 1 - Unpaid Property Taxes become delinquent
May 1 – Deadline to set up Installment Payments for property taxes
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December 5, 2011
Are your property taxes too high?
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If you disagree with your real estate property value, tangible personal property value, or your exemptions, you should first contact someone at the county property appraiser's office. IF you are still unable to resolve the matter, you may file a petition with the County Value Adjustment Board. They will review your complaint, send out an inspector to look at your property and may even have a hearing to discuss your situation. There is a small fee for filing the petition with the Value Adjustment Board. Most counties require you turn in your petition in the fall.
You can contact your county property appraiser by finding your county in our list by clicking here . Here’s an excerpt from an interesting story we found on Newsorks.org about these assessments.
“The tax man cometh: How much more will you pay?“ By: Newsworks.org
Larry Shubert is a snoop.
As a property tax assessor for the city, he'll go to great lengths to find out how much your house is worth. He'll inspect your deed, figure out the age of the bricks in your home, and even sprint around your property. Today, he's walking around Roxborough (Philadelphia, PA) assessing houses.
“This is going to be the first house that’s going to be a little bit of a challenge because you look at it and you go, ‘OK, What is it?’ First of all, it looks like a one-story from here,” says Shubert. “But I think a side view will give you a better idea. See, now looking from that end it doesn’t look like anything. From over here you got a side door, you got a two-car detached garage. You actually have a half a story.”
It’s not easy to trick him. If you thought you'd be able to build that deck without the city noticing, forget it. He’ll watch you from above, too.
“We take aerial views of the properties,” says Shubert. “Now this particular property I wasn’t sure whether we’d be able to see anything from the rear or not. Well here it shows that there’s an addition on the back. It’s a sunroom. Now I have to go back and check to see if that’s on our books.”
Maybe you've seen Shubert or one of the city's other 65 tax assessors around town. They're re-assessing all 577,000 properties in Philadelphia, in an attempt to fix the city's broken property-tax system. For years it assessed people's homes unfairly and inaccurately.
So what are they looking for, exactly?
“We’re trying to get the characteristics on each house,” says Shubert. “In other words … bedrooms, baths, kitchen, living room, dining room, basement, whether it’s finished or not, what kind of heat they have.”
The assessors' work will bring some folks' taxes down, and others' up — which is frightening for homeowners. Especially because, all told, the city expects to collect more after the re-assessment than before it.
That means Shubert sometimes gets yelled at. Even by old ladies.
He's jotting down notes outside of Theresa Conroy's home in Roxborough when she pokes her head out of the door. He introduces himself, and she warns him not to raise her property taxes — or else.
“I’m gonna get pretty damn mad!” she says.
This doesn't keep Shubert from genuinely digging his job. As he walks down the street in Roxborough with Richie McKeithen, the city's chief assessment office, they talk about the thrill of figuring out how much homes are worth. Seriously.
“When you put a value on the house and it sells for about that, that’s like, wow!” says McKeithen. “That’s almost as good as, like, hitting a number or something. It’s a rush.”
It's a good thing that Shubert likes his job. Because he'll have to assess 13,000 properties in Northwest Philly, about twice as many as one assessor should have to do. The city's Office of Property Assessment is understaffed.
“When you have 13,000 accounts, it’s a lot. I mean, there’s a lot of stuff to do,” says Shubert, adding that a “25-unit new construction could take me two days.”
The Nutter administration says it's planning to hire about 70 more assessors soon. Still, this raises concerns about the quality of work the assessors will be able to do.
The data that Shubert collects is just the first step in the complex process of assessing. The city also must consider how much nearby homes are selling for, and send assessors out again this spring to double-check their data.
Mayor Nutter wants to finish this by next fall, which would mean updated property tax bills by 2013. But since fixing the property-tax system will require cooperation among the Nutter administration, City Council and the state, it's not a done deal.
(original article located at: http://www.newsworks.org/index.php/homepage-feature/item/30857-the-tax-man-cometh-how-much-more-will-you-pay&Itemid=1 )
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November 2, 2011
Mo' Money, Mo' Money
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Here is what I mentioned earlier. If you haven’t been bidding at the tax deed sale, you may not realize the deposit amount for a winning bid has increased. For each piece of property purchased, the successful high bidder is required to pay a non-refundable deposit equal to a minimum of exactly five percent (5%) of the final bid or $200.00, whichever is greater, at the time of the sale. So for example: If you are the high bidder at 10,000, you will be required to pay 5% of that 10,000 right away. In this case 5% of 10,000 is $500. If the 5% amount had been lower than $200 you would be required to pay $200. That’s where the 5% or $200 whichever is greater comes in. You can pay that deposit in the form of cash and/or cashier’s check. Increasing the amount required at opening bid may take some bidders out of the game and it may also reduces the number of properties you choose to bid on since you will need that 5% or $200 amount for EACH property you win at the auction.
In accordance with section 192.0105(3), Florida Statutes, the property owner can redeem his or her property (pay off the taxes) up until the time that the high bidder pays the full payment to the Clerk and the tax deed is issued. This means that you have not truly won the property until your payment is made preventing the homeowner from paying the taxes and keeping their property.
One more thing to remember, if you miss the deadline to get your deposit in electronically for the online sale you can always pay in person. You can make that deposit in person at the Clerk’s Office in the form of cash or cashier’s check no later than 3:00pm on the day before the sale.
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November 2, 2011
Osceola County, FL Tax Deed Sales Go Online
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Osceola County has held their last live tax deed auction. Beginning in November 2011, tax deed sales will not be held on the internet. Realauction which facilitates many other counties will be hosting the online tax deed sales. The website you will need to go to www.osceola.realtaxdeed.com . There are some very important things you should be aware of.
In order to participate in the online tax deed sale in Osceola County you must register on www.osceola.realtaxdeed.com. You will be assigned a Username and Password and then you must place a valid deposit, in U.S. Dollars, with the Clerk’s Office. You must also have a computer with internet access. You can also use a computer at the courthouse in Kissimmee. (Kissimmee is where Osceola Co is located. I know there are a few of you who may already be planning on bidding despite the fact you may not nowhere Osceola County is located. Pump your brakes, partner. I’ll explain why shortly)
From the website you can make deposits, place bids, view auction results, and pay for your winning bids, all from the comfort of your home or office at times that are convenient for you.
The website reads that the required deposit (5% or $200 whichever is greater) must be with the Clerk’s Office no later than 3:00PM on the day prior to the sale date.
It’s a lifetime ban in Osceola County, so tread carefully before you start clicking away at your keyboard… If the full balance is not made within 24 hours, your deposit will be forfeited. If you are the highest bidder and you do not honor your bid for any reason, you may be barred from participating in future tax deed sales in Osceola County. Some counties only ban you for a few months while others have been known to ban you for life. If you go to the Osceola bidding site you will see is still under construction, so be patient. There next sale will be listed in our Tax Deed Calendar .
One thing you will notice when you bid online is that the bidding process takes much longer. That is because when a bid is placed with less than thirty (30) seconds remaining on the auction clock will automatically extend the bidding period by one (1) full minute.
Earlier this year a change in Florida’s law raised the opening bid deposit for the high bidder from $200 to 5% of the balance (or whichever is greater – we’ll get into more on that a little further down). This change in the law that raised the minimum bid also made the opening balances a little bit difficult to pinpoint an exact number. The clerks says “…for each piece of property purchased, if tax certificates exist or if delinquent taxes accrued subsequent to the filing of the tax deed application, the amount required to redeem such tax certificates or pay such delinquent taxes must now be included in the opening bid. Therefore, the redemption amount and the opening bid are subject to change without notice.” This means that the entire amount of the back taxes owed on the property may not have been figured into the sale’s opening bid yet. When they do add the total amount in the opening bid, which usually happens right before the auction sometimes, you will notice the opening bid price change a little bit or sometimes drastically. The best thing to do is check the DR513 in the tax file it outlines the statutory opening bid.
Osceola County will be holding training class to teach you how to bid online. Here are those dates and times:
Training dates:
3rd Party Bidder Training
11/15/2011 @ 2:00 PM ET
1 Courthouse Square - Bldg 1 Room 2501
Kissimmee, FL 34741
3rd Party Bidder Training
11/16/2011 @ 10:00 AM ET
1 Courthouse Square - Bldg 1 Room 2501
Kissimmee, FL 34741
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May 10, 2010
Tax Deed & Tax Lien Field Trip
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2 Day Tax Deed & Tax Lien Field Trip 26th & 27th
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Central Florida More Details
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May 10, 2010
2010 Tax Lien Certificate Sale Dates
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The Tax Lien Certificate Sale has opened in the following counties through realauctions, a third party provider contracted thorugh the following counties:
County Website Sale Date
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Alachua alachuataxsale.com 5/13 - 6/1
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Brevard brevardtaxsale.com 5/13 - 5/28
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Columbia columbiataxsale.com 5/6 - 5/29
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Duval duvaltaxsale.com 5/11 - 5/26
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Escambia escambiataxsale.com 5/6 - 6/1
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Flagler flaglertaxsale.com 5/5 - 6/1
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Gadsden gadsdentaxsale.com 5/13 - 5/28
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Gilchrist gilchristtaxsale.com 5/13 - 5/29
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Hendry hendrytaxsale.com 5/13 - 5/28
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Hernando hernandotaxsale.com 5/14 - 5/31
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Hillsborough hillsboroughtaxsale.com 5/10 - 5/29
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Indian River indianrivertaxsale.com 5/4 - 5/28
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Lee leetaxsale.com 5/3 - 5/25
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Levy levytaxsale.com 5/13 - 5/28
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Nassau nassautaxsalel.com 5/5 - 5/26
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Orange orangetaxsale.com 5/17 - 5/31
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Palm Beach palmbeachtaxsale.com 5/6 - 6/1
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Polk polktaxsale.com 5/7 - 6/1
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Putnam putnamtaxsale.com 5/1 - 5/28
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Santa Rosa santarosataxsale.com 5/10 - 5/31
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Sarasota sarasotacountytaxsale.com 5/7 - 6/1
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Seminole seminoletaxsale.com 5/2 - 6/1
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Sumter sumtertaxsale.com 5/7 - 5/28
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Suwannee suwanneetaxsale.com 5/11 - 5/28
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Taylor taylortaxsale.com 5/7 - 6/1
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Walton waltontaxsale.com 5/14 - 6/1
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December 28, 2009
10 Things You Must Do before 2010
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10 Things you must do before 2009 ends to reduce your taxes
- Charitable Donations
- Flexible Spending Account (FSA)
- Mortgage Interest
- Real Estate Taxes
- Homebuyer Credits
- Medical amd Miscellaneous Deductions
- Pension or IRA Contributions
- Cash Gifts
- Capital Gains & Losses
- Go Green
Charitable Donations - If you are making donations to the Salvation Army, Goodwill or your church make sure you do it before midnight on Dec 31. Most importantly make sure you have a receipt of your generosity since these constributions may be tax deductible. If you are paying by check or credit card be sure to ask if they will be processing the payment before the end of the year. Don't go overboard, if a single item has a value of over $500 the IRS may require an appraisal. Consult with your Certified Public Account for information.
Flexible Spending Account (FSA) - Use it or lose it! If you haven't used the money in your FSA, the IRS allows purchases to be made through March 15th to account. Ask your employer for a debit card for your FSA spending. Make sure your plan allows for it.
Mortgage Interest - Are you still looking for another deduction? Make January of 2010's mortgage payment in December of 2009. Just don't forget to add the extra month's worth of interest onto the IRS Form your mortgage company sends you (Form 1098). This will increase your deductions for the 2009 however you won't be able to deduct the payment from your 2010. You may want to do the same for interest on your student loan payment.
Real Estate Taxes - Same as above for your real estate taxes. Make your January 2010 real estate tax payment in Dec 2009. If you may be hit with the Alternative Minimum Tax (AMT), don't pay it since taxes are not a deduction under the AMT.
Homebuyer Credits - If you are a new home owner and have never owned a principal residence in the past three years, you may be eligible. You have to purchase the home before May 1, 2010, and close before July 1, 2010. If that is the case, you can qualify for a 10% refundable credit your purchase price. The credit is maxed out at $8,000. Not a new homeowner? You may qualify if you've owned your principal residence for at least five years and buy a new principal residence within the time limits stated above. This credit limit is $6,500. The homebuyer credits phase out for single taxpayers with adjusted gross incomes of $125,000 to $145,000 and for joint filers with incomes of $225,000 to $245,000. If you don't want to wait until 2010 to cash out on one of these credits, you can claim it on an amended 2008 return, even if the purchase was in 2009.
Medical and Miscellaneous Deductions - Health insurance premiums are deductible as long as you didn't pay them with your flexible spending account. Medical expenses that exceed 7.5% of your adjusted gross income count. Miscellaneous itemized expenses have to exceed 2% of your AGI. If you think you may not hit those minimums then you can pay some of the professionals you do business with, such as your orthodontist or CPA, before 2009 is over for services you will be using in 2010.
Pension or IRA Contributions - This is very important if you are self-employed. Unless you expect tax rates to increase, you may want to pay your tax "tomorrow" rather than today. If you're contributing to a retirement plan such as a 401k or a 403b, you can put in $16,500 this year and the same amount in 2010. If you're 50 or older, you can put in an additional $5,500 as a catch-up contribution.
Cash Gifts - If you will ever be subject to the estate tax, then you should make your 13,000 tax-free gift before the stroke of midnight.
Capital Gains & Losses - If you have capital gains, remember that any net capital losses over the $3,000 allowed on your 2008 tax return should be carried forward to offset those 2009 gains. If you still have net losses, up to $3,000 may be used to offset ordinary income for 2010. If you have net capital gains in your stocks or real estate investments, sell enough of the losers to offset the gains. If you have more losers, sell at least enough to get the $3,000 offset against ordinary income.
Go Green - Buy energy efficient improvements to your home and qualify for a credit of 30% of the cost with a maximum limit of $1,500. This can be for items like more insulation, installing energy-efficient windows, heating and Ac systems also qualify.
The IRS has some more information on deductions at their website.
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December 28, 2009
Webinar on Tax Deeds
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Watch the Tax Deed Webinar
Thanks to Entrust Administrative Services of Florida for inviting me to teach their Tax Deed & Tax Lien Webinar. Follow this link, Free Tax Deed Webinar if you would like to see the the replay of the webinar.
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June 2, 2009
150% Rate of Return, Think that's not Possible - Read On
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Earlier I told you about one of my student's deals...
I asked her to tell me more about what she learned and this is what she had to say, in her own words.
"What I got most out of Sandra's course is that I learned in much more detail about how to do my due diligence on a property. I didn't know as much as I thought I did. This is valuable information whether you are purchasing a tax deed or any other property. My biggest fear in working with tax deeds was the unknown: I was always afraid I missed something before I made it to the auction because I don't get an inspection period after I bid. It was great to be able contact Sandra so I could run through my research with her before the big day. This helped me go to the auction with confidence and I ended up walking out with a great deal!"
"I am listing it at $39,500. I am looking to net $30,000 after commissions, 2008 taxes, and the utility lien ($800). If it doesn't sell, I'll owner finance it. I expect to profit around $15k which is not bad for a $10k investment. TAX FREE because I bought it in my (Self-Directed) IRA."
Want to learn how to do the same, contact us at info@buyingtaxdeeds.com
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May 13, 2009
$10,000 Tax Deed House
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I was so inspired to hear the excitement over the phone as one of my Tax Deed students told me about her first Tax Deed purchase. She purchased the home yesterday for $10,000. Here is a link to some pictures of this 2 bedroom 1 bathroom house. It's a block home in Central Florida. http://s395.photobucket.com/albums/pp38/ardnasinc/10k%20Tax%20Deed%20Student%20Deal/
My student told me the only reason she was able to get the deal was because the clerk went through the bids for the sale very quickly. Instead of doing the usual, 'going once, gonig twice, sold.' The clerk said, 'any more bids, sold' and that was it. My student said someone tried to protest because they didn't get there bid in, but the clerk said she is not required to do the whole, 'going once, going twice, sold.' Great job on that deal. $10,000 on a block house! Look at the pictures and you will see it is ready for a tenant. The kitchen cabinets are new.
Later I will tell you about another deal, a partner and I just got for $21,000. That is also a block bouse. That house is occupied. Stay tuned for more.
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