Rental Property Investor · Orlando, FL · Member since 2016 · 76 posts · 19 votes
Hi my BP Family!
I'm wondering if there's anyone on here or that you may know who has done tax deed sales here in Orlando. Would you be willing to talk about your experience?
Thanks for the help!
- Alvin
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
10y
@Alvin Pereira You'll generally use the property control number, or search owner name, to determine property address. Do Not expect anyone doing them locally to help train any new competition for themselves.
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
10y
@Alvin Pereira what info are you seeking. Tax deed sales are held across the state. They are generally pretty competitive. If you are the successful bidder, you can hire an attorney to quiet title on any existing mortgages. Any unpaid assessments or government liens, code enforcement fines, etc cannot be extinguished.
Rental Property Investor · Orlando, FL · Member since 2016 · 76 posts · 19 votes
10y
John Thedford Hi John! Thanks so much for the reply. I understand the general concept, but I'm more or less looking for someone I can chat with that can walk me through how it works for them from practically the moment they begin their search.
Here in Orlando in particular the city's website isn't really user friendly and even finding the list of upcoming sales and what the property addresses are is sort of intricate.
I would like to possibly shadow someone who attends the auction and maybe help them out with the deal while I learn the ways of the masters hehe!
How about you? Do a lot of tax deeds over in Naples?
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
10y
I have been bidding mostly in Lee County with no success! I see people paying sky high prices. I made an offer on a MLS listing last week and it is now going to highest and best on Monday. My offer would make money. Anything more and there is -0- profit. I probably won't get it!
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
10y
@Alvin Pereira You'll generally use the property control number, or search owner name, to determine property address. Do Not expect anyone doing them locally to help train any new competition for themselves.
Rental Property Investor · Orlando, FL · Member since 2016 · 76 posts · 19 votes
10y
John Thedford ah man! Sorry to hear that. I have heard that it's incredibly competitive as well. Nature of the business! :(
Wayne Brooks Nice! Thank for the tip. That makes perfect sense on both ends hehe. I would understand why someone wouldn't want to help someone else out although it's unfortunate.
Generally once you've identified the properties you're interested in, how do you get into the auctions? Do you need anything in specific or can anyone just show up and participate?
Rental Property Investor · Orlando, FL · Member since 2016 · 76 posts · 19 votes
10y
John Thedford Wayne Brooks gotcha! I'm assuming that it's an all cash purchase right? Not just the down.
Using the $150k example. After I put up the $7500 to secure my bid I have 24 hours to come up with the remaining $142,500 in cash?
Thanks for helping out a newbie guys!
Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
10y
Tax deed auctions are two types: tax certificates where you buy a lien against the house and hope the owner pays the taxes off, the you get paid. You bid on these at auction and yes there is alot of competition. Then there is the tax deed auction where you get a deed to the property if you are the successful bidder. And again it is very is competitive.
But I don't do either of these. I market directly to the homeowners for the tax deed auction and buy the house and pay off the past due taxes before the auction. There is very little competition here. Yes you have to do the research but it can easily be done if you know how. I have been successful in getting several houses like this a very deep discounts from ARP. And NO I won't teach any one how to do this. This message if FYI.
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
10y
@Alvin Pereira I have a bond posted here for the Lee Co auctions. It has been in their possession for some time. I can purchase any property they auction. If I am the high bidder, yes, I have till close of business the following day to bring in the balance of funds. As another poster stated, yes you can market to people losing their properties to a tax deed sale. Lots of investors market to them.
Rental Property Investor · Orlando, FL · Member since 2016 · 76 posts · 19 votes
10y
Stephen Anderson Haha! Your line about not teaching anyone made me laugh. Thank you for the honesty and kudos to you for being that creative. In this line of work we most definitely have to!
Great to meet ya!
Rental Property Investor · Orlando, FL · Member since 2016 · 76 posts · 19 votes
10y
Stephen Anderson that takes me out of the running entirely then haha! Would love to connect with you regardless!
John Thedford I agree my friend! Again, thank you so much!
Fort Lauderdale, FL · Member since 2016 · 1 post · 0 votes
10y
@Account Closed Hello, I'm new to BP and Tax deed sales. I'm in South Florida trying to buy some tax deeds in Miami-Dade and Broward counties and would love to know a few things. What liens and encumbrances survive a tax deed sale? Also, How do you do a title search and lien search online? Can you find what liens are on the property through the county records online?
Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
10y
All liens survive the tax deed sale. the best way is to look at the tax deed info and look at the section for people notified of the tax deed sale. Everybody that has a lien on the property will be there.