Tax Lien AnswerTax Lien Answer to a common question-what to do next. The Question? I have purchased liens in Lee County FL, some of which have been redemed and others are being held. I have liens on lots, a few houses and one subdivision. What do you offer as education/advisory service for answering the Q, "How do I develop strategies for these properties, or what do I do now? The Tax Lien Answer! Clarence, first order of business. Have you held the tax certificates for more than 2 years? If so, the next thing to do is, conduct a title search on those properties on which you hold the tax certificates. The object of conducting a title search is that you want to make sure there are no liens which will hinder the sale of the property or tax deed. You can contact a title company and they can conduct the title search for you it usually costs $75-$120 dollars per property OR you can do it yourself but I would recommend purchasing my updates to info there have been some Statute changes which affect which liens are superior and you won't find this information elsewhere. Purchase ebooks here. If you find the properties value far exceeds the value of certificates and there are no liens involved, apply for the tax deed. If you find the value of property does not far exceed investment in certificates then you may be better off to continue to hold the certificates until one of two things happens. 1. The property values rise again prior to the seventh year of certificate issuance, because if you do not make application prior to the 7th anniversary date the certificate is void. 2. Another certificate holder makes application and your certificate is redeemed. Are any of the tax liens "certificates" your holding against a residential home that is homestead exempt? If so, you may have to reach deep into your pocket. The tax deed purchaser will have to pay 1/2 of assessed value for the tax deed. If no one bids then you will have to pay this in order to receive the tax deed. In some areas of Lee County, right now ouch-that could be equal to much more than 50% of the market value. So, check the tax collectors records to see if, on the most current tax roll, the home is exempt. If not, you are fine.
Tax Lien Answer "FYI"
To start the process you will need the certificates or you can look up the certificate numbers, date of issuance and property legal descriptions on the Tax Collectors Website. There is a tax certificate look up function. It is easiest to walk the certificates or the info into the Tax Collectors office and pay the fee, they will supply you with the DR512 Form and can assist in filling out the form and will advise as to further necessary steps. The process varies in time and there are always slight procedural/office differences but the information given here is the normal protocal. If you need my assistance let me know.
Tax Lien Answer
Thank you James for your reply and yes, the information is very useful, confirming what I thought might be the next step and also providing new information. I will certainly purchase your ebook. I am also interested in traveling to Florida to learn more about the area and the real estate markets for certain neighborhoods. Could I set up an appointment with you for couple of hours (of course with remuneration) of your time and advice. I understand your position about advice (legal or otherwise) and I would not consider your help to be "binding" information; I wish that we could learn enough about this process to be without uncertainty and risk, but there are no guarantees except "taxes and death." Am I correct that your online chapter on "Tax Certificate Research Tool Find Liens & Owners" is the kind of searching that you are suggesting? While I have done a little of that, I need to do a lot more. One thing that has changed is the property value, which has dropped about 50% in some cases! In the interim, I'll do my home work and hope to hear from you, Tax Lien Answer
Clarence, thank you for your order it has been processed and ebooks attached hereto. I hope the information will create further clarity and with it you can build a path for many successful real estate endeavors. Ouch-50%, unfortunate but common for today's market. With every down turn comes great opportunity. We have recently contracted for the purchase of some very nice 3/2/2 block built 1500sqft homes at $30-$40k all newer than 2000, prices I never believed that I would see again.
In regards to my "Tax Certificate Research Tool Find Liens & Owners" chapter yes it is helpful and an essential piece of the puzzle you are now looking at and can be found in my ebook 18% Profit that you have purchased. I also have tutorial and info pages which further outline the process of what you should be looking for if tax deed ownership is in your future.
Tax Lien Answer "TIP" This page outlines buying direct from distressed owners which, with you being in Hawaii, may be of interest to you. When buying direct from owners the whole process can be conducted by mail. As this type of investing is new to you I would definitely recommend finding a title agent who can act quickly when you bring forward a contract (on vacant land we can go from contract to closing with title insurance in 5 days). If you need a contact let me know. The best course of action is to send out flyers to prospects, you will shortly have a flyer sample that we use, look in my Fl Realty Forms and Guides attached. Tax Lien Answer "TIP" If interested in mortgage foreclosure and pre foreclosure investing I also have, yes more tutorials. They can be found in my ebook Florida Foreclosures Need To Know But NO ONE Tells or some pages are on my site in the mortgage foreclosure area. OK-now that this is turning into a novel. I will leave you with a pointer. Tax Lien Answer "Pointer" If Lee County is your county of preference live in Cape Coral and invest in Lehigh Acres. There have been some very very nice deals circulating. Sending out flyers to property owners who are at risk of losing their property due to pending tax deed auction and purchasing direct would be a good plan. Few people are doing this right now. This may be very attractive to you, being out of state, as most property will be vacant land. Vacant land has the advantage of low taxes, no break ins, no home insurance, and in most Lehigh Acre Subs there is no time limit to build. If a hurricane hits the area, watch out you may just profit more than you imagined. We have made huge gains on property after hurricanes hit close by. The areas hardest hit are a plume of new construction, home owners have insurance money in hand, surge of income in the community, and property prices in those areas go up after a storm blows through. New homes, typically larger, + surge of spending in community definitely = higher land prices. I would like to better understand your game plan. Are you seeking property to purchase and hold or are you seeking opportunity to flip land, homes or are you interested in further certificate research. I would recommend an "opinion session" which many find helpful. I walk you through the due diligence process on a piece of property as we research it together, and I tell you exactly what I am looking at and for and what I think. The cost for this is $125.00 and with this knowledge you will know exactly how to conduct a title search, where to gather comp data, what areas to seek, what websites I use. Once payment is received we will confirm a day and time of session and I will send you a list of sites that should be opened when we conduct our session. This session will be a one on one and only you will know the answers to your questions. I do not divulge session information to any third party nor do I compete for properties which you may inform me of. If this is of concern I can forward a NCND to you. Let me know if you are interested in a session, this is typically the best course to understanding your needs and getting you the answers you need. FYI-Uncertainty fades with experience, risks become less daunting with knowledge, but in deed tax and death are guaranteed. If after the session you are still in need of assistance I or a family member, depending upon who is available, will meet with you at the court house in Citrus County, walk you through the process, look at files with you, assist in conducting research and visit prospect properties and attend the auction with you. Everything is handled one on one except attending auction as we always have multiple clients in attendance. The reason for Citrus county is that the research you can do there is the same as in other counties and it is easiest way for us to assist you. The next auction is December 9, if you are interested. The cost is $125 per hour with a three hour minimum. Tax Lien Answer
Of course, I want to have fun doing this and I love to keep busy, so hard work is part of my expectations. BTW, I had instructions (four days) from another Florida Tax Certificate Purchaser and Consultant that "left me stranded" at the point where I am now, "What do I do now that I have these certificates?" Your web site had more comprehensive information and gave me additional information about that last step. In all fairness to him, if he gave us the info, it was disguised or I was asleep.
Thanks again for your help and information, I'll work on your information and contact you when I'm ready for the one on one...now, I have to start reading your material!
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