Don’t have anything interesting to report about currently besides my Tax Lien niche. So, here is the update report from the first month of redemptions from the Tax Sale in December. This ties into my previous post about Tax Lien Certificates.
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I’ve been picking up traction with another angle of Real Estate investing lately. And that is with Tax Lien Certificates. You rarely hear about them because they’re not as sexy to talk about or create a course about. And nobody makes 20K in 2 days from these things. Well…you can, but that’s if you don’t count waiting out the redemption period (a few years) and foreclosing on the lien, then flipping the house.
Yo! I just want to start-off this post by expressing my extreme discontent with working at this moment in time. I’ve been working so hard that I’ve started eating bad (junk and fast-food), working out less, drinking more, etc. That sounds like a cliche of the “working man”, now that I think about it. There are a lot of people that “wake-up” with an extra 30 pounds due to such bad habits. It’s a bad chain reaction. Long-hours lead to less time for balanced meals which lead to less energy to workout and as far as the drinking part…I just like malt-liquor. Which was never a problem when I burned them off. My six-pack has turned into a four-pack and it’s fading. Dammit! I gotta stay fit. Without health there’s no wealth. I’m way too sexy. I need to find a new athletic challenge. Usually that keeps me going. If you can remember, I planned to run a half-marathon on Halloween. But my running partner got injured in a car wreck, so that plan was scrapped as I didn’t want to run another marathon alone…BORING. Part of this entire problem is because I’m bored with the routine of life right now…and I really hate when life is boring. I need to move asap! A friend from college told me recently that her job is moving her to Greece for like 2 months next Spring. She said I’d be welcome to visit for an extended time. That sounds right-up my alley right about now. We’ll see…
So, I’ve stopped chasing ‘skinny’ deals a few months ago. But when they come right to me, I can’t help but to see if I can do something with them with little effort. Perhaps that’s still a downfall of mine, that I must learn to overcome…I could be blind to the big-deals when I even give a small-deal a look for a few moments.
I’ve got good news and that is the latest wholesale deal is coming together like butt cheeks.? I received the completed appraisal today from my appraiser via email, I then forwarded it on to the head guy at the DHFS. I waited about 3 hours and I gave him a call.? I didn’t expect it, but he was ready to wheel and deal right-then.? He saw the CMA that I had submitted to him in my short-sale package came in at about 9K and the appraisal came in at 11K, he offered to split the difference at 10K.? I countered and asked if he could knock 1K off and take 9K, he agreed to only if I ate the cost of the appraisal (which initially he offered to cover).? We had a deal.
The latest wholesale deal is still kicking, I haven’t lost it yet.? Let’s just say it moved off of life-support but it’s still in the ICU.? During this week among other things, I spent some time wrapping up the details for getting this thing closed.? I now have a CMA from my Realtor, plenty pictures, and a rehab cost estimate.? These documents, along with a letter describing my motives for wanting to purchase this property (assign) and revitalize the neighborhood starting with this house, will be sent to the appropriate parties.? The appropriate parties being the 3 parties that have liens on the property.? There are a total of 4 liens on the house.? One being a tax lien.? The others by DHFS, the city of Champaign, and Champaign sewage.
Over the weekend, created a tutorial video in which I performed a screen-scrape of the Broward County, Florida website.? The objective was to find the absentee owners of property in that county.? Shae Bynes, A fellow investor out of that area targets those who are absentee owners, so she was the beneficiary of this process.? Hopefully she’ll find some use of the list that was created.
I’ve got an action packed 7 days approaching:
Tomorrow I meet with the lady I mentioned in my last post whose house I targeted with one of my direct mail letters.? My Realtor/Investor colleague and I took a look at the property last Friday.? Man was that thang tore-up.? It will need a new roof, new windows, new kitchen, a new whole bunch of stuff.? But the good thing is that this is the worst house on the street.? All of the neighboring houses look great.? I have some comps, a CMA, and an estimate of repairs to accompany my offer.? So this should take the shell-shock out of the offer.? I think she is expecting an offer close to retail minus just a few thousand in repairs…I hope not.
