Lands Available list post tax deed auction investment success!
I never heard of a ," Lands Available list til January 2017. I listened to a 30 min audible also free to read on Kindle, " LOW RISK INVESTING WITH FLORIDA TAX CERTIFICATES" We bought 2 home run properties since from Duval County Florida Tax deed office. We closed 4446 Lexington ave. A vacant lot bought from Duval Lands Available list. We Paid $7600.00 for it over the counter post auction from the tax deed office 4/5/17 for base tax with no competition., sold it for 65k and closed 12/8/17.
We still walked away with 60k after all the quiet title suit Attorney was working on since April attorney closing costs. I expected it to cost more. Attorneys are cheaper than realtors...I guess. Not that I wont use a realtor , I am studying for my license right now.
Our first tax deed property.
Unflippingbelievable! No rehab just land in a good spot!
Because we did not hold it atleast a year and 1 day we are paying 28% short term capital gains tax on it. Still 45k profit after taxes for paper work and process. Holding past 1 year 1 day would reduce the tax to 20% for our tax bracket. Holding 2 years we could 1031 to another Real Estate investment and defer the taxes. My CPA is not a fan of deferment because the later taxes can be higher.