I’m in Louisiana. I put a $1250 deposit on an adjudicated property. The offer the parish returned is $4600
and some change. House is in an ok part of town for a rental, on a pretty standard 0.3 acre lot, but doesn’t look to be in the best condition. This would be my first property purchase as an investor. I’ve read as much on tax deed purchases as I can find. Help! Any good books about tax deed investing I should read? What questions should I ask, and to whom? Good first property, or no? I’m leaning towards “pulling the trigger” on this one, just to get my feet wet. Any of the tax deed experts have advice?
@LaToya Houston Did you use Civic Source?
Not knowing anything more about the property, at $4,600 my guess is, that is what the land is worth. Worst case you get the land and need to demo the house and do a new build. Having not looked at the property, odds are you can fix up the property and have an affordable rental. While that money is a decent chunk of change, its not that bad to learn on. Hell, people easily spend 2-3 times that on a semester of college and learn a lot less.
I JUST looked up Civic Source! Thanks for that! I’ll be on that site all night after work! And those are exactly my thoughts - at least I’ll be DOING something and not sitting by talking about real estate investing, like I’ve been doing for years! Thanks for commenting! I’ll share my process here!
I went and took some pictures. The windows are busted out. Somebody has completely ruined the house. There won’t be much that is salvageable.
I haven't purchased any adjudicated properties but pretty sure you will be prompting an auction, and the highest bidder $ will get it for that amount. Civic source handles a lot of the adjudicated properties in LA.