2008 Florida Housing market Thread Jan - Mar (real estate, tax lien)

[hiknapster]

"As long as w live beyond our means, we are destined to live beneath our means." Go Ron Paul!

Thanks, Mr. Tudo!

[SKB]

Originally Posted by LewLew

Port Saint Lucy

It is actually

Port St Lucie but pronounced "port st lucy"

[V1-P]

I saw the program about Greenspan and agree, it is like he set some things against us. But I have also seen the Forex Currency Exchange open to every day people now. Regardless of how one learns to trade stocks or currency, it helps you understand the movers and shakers of world economies. Real Estate Investors can watch and learn about markets and make plans accordingly.

Placing blame will not fix the problems. To say it is Bush, Greenspan, Clinton or anyone will not fix the problems. We have all learned how facts become distorted for political gain from all parties. We need action and if our elected officials will not take their oaths seriously, we can hold them accountable by recalling them. This is not the forum for that. We have to look at how we can position ourself and our family to weather hard times. Getting out of debt, living within our means and helping others is a great beginning. Then we need to teach others how to take care of their families and our freedoms. So I submit the following:

If you want to relocate or buy property in the Jacksonville area or any where in Florida for that matter and you want a deal, buy a preforeclosure. Then rent it out if you can afford to but never put your own home up for leverage, put the preforeclosure up. How you find them in Florida? Simply Google Florida Clerks of Court and you will get the main site from Dept. of State for Florida for all Clerks of Court. Pick the county you are interested in moving to. Say Duval - once on the site, search Official Records for any Lis Pendens filed over the past 30, 60 or 90 days and you will get a list of every property in Duval (or whatever county you selected) that is in foreclosure. If you need help, email me and I'll show you free, how to find them and buy them.

Once you find the Lis Pendens look at the name and address. Then go to the Property Appraiser's website and get the details about the property. If it is something you are interested in go back to the Clerk's site and run the name and legal description from the Lis Pendens (you're looking for liens, mortgages, etc.) and if there is only a mortgage - not several mortgages - you can offer the home owner $ 10,000 cash and take over the payments. The homeowner saves their credit, gets 10,000 to start over, you get a good deal and the bank is saved from foreclosing - a win win. This information is not legal advice and you are responsible for your own decisions. There is a little more to this than step 1, 2, 3 but it is being done every day through preforeclosures, short sales, loss mitigation and other means. Finding a place to live is easy but information on the local area from locals is difficult and that is what makes forum great.

[Wild Style]

great post V1-P, only thing I will disagree with is I don't think there is crap we can do to political figures. One falls another scum bag rises up in his place and that goes for ALL parties. This country needs a political flush.

[Jareb]

Originally Posted by Wild Style

great post V1-P, only thing I will disagree with is I don't think there is crap we can do to political figures. One falls another scum bag rises up in his place and that goes for ALL parties. This country needs a political flush.

Agreed Wild Style!
Republicans and Democrats were once described as "Opposite wings on the same bird". We just need a whole new bird.

[V1-P]

Agreed.
We have to look at how to capitalize on the alleged bubble and how we can help others prosper from the market as well. Preforeclosures, foreclosures and such are one way. Another avenue is tax deed properties. Although property taxes have gone down slightly, last year's taxes were very high and many could not afford the spike. Not to debate the whys and what for and what is going on now, but how can we prosper and help others.

When property taxes are assessed and due, if the owner does not pay the taxes a tax certificate is issued. The tax certificate is the county offering to sell the tax debt to an investor and the county/state guarantees a 20% return to the investor. Another words, if you Mr. Investor, pay ABC'c taxes, we will see to it you get a tax certificate with a return of 20% on your investment.

Now ABC comes along a year later and decides to pay their past due taxes, Mr. Investor gets a 20% return on his money - guaranteed by state law. Now tell me how much your bank is paying you for you CD? Savings Account? 2% 3% maybe 5% - not 20% that is for sure. So what is a better investment Tax Certificates or Savings Accounts? So go to your county tax collector's site, search tax certificates and buy tax certificates if you choose.

Now after 3 years of tax certificates being sold to investors, the county/state decide the property is to be sold at auction to the highest bidder and the opening bid is all three years of tax certificates plus fees. Mr. Investor comes along and decides, Gee, I can buy this property which is valued at $ 100,000. for peanuts - then rent it out.

People get into problems with tax deeds because they don't understand other liens can be on the property. Some liens are wiped by the tax sale and some liens stay attached. Just search for liens and if there are none, it is a good investment if bought for a good price at auction.

By savvy investing in a post bubble era, people become wealthy. Now it is our chance but let's do it wisely and teach others free just because we are Americans and we love our land and freedoms.

[tallrick]

Shhh..... don't want to let everyone know our secret!

[V1-P]

Even if everyone knew, everyone does not know how to invest wisely. Just look at the alleged sub-prime mortgage breakdown. I'm a firm believer in what you sow you reap. I hope to sow seeds of help, encouragement, hope and success. If one person learns something new that helps them and their family, I have succeeded.

[MINNIEMEME]

Sub-prime 5 Yr Freeze ?

[tallrick]

Yet in the past I have invested in the tax certificates, the only way to get a good return on your investment is to be one of a few at the auction. If too many go there the bids end up too high. Not sure if it is still as before, but many counties start at the tax amount +20% and bid down from there. Counties with a lot of speculation and a big bursting bubble are good for these sales. Just have to make sure that the property you get a certificate on will be worth 3 years taxes when the bubble bursts. I do not like tax sales on vacant homes or commercial property though, they can evaporate in a hurry. One lot I had a certificate on ended up as part of a lawsuit the following year. I know someone who had a certificate on a property that eventually burned down.