All Forum Posts by: Anthony Yannucci

Can anyone explain to me the Tax Deed auction process in the state of Ohio?  I am in FL and looking to do my first out of state tax deed, and was wondering how this state works.  When are the sales?  Who conducts them?  Do you get the deed right away or is there a redemption period?  If a redemption period, how long is it?  Are the auctions online or in person?  Any info would be greatly appreciated!  Thank you!

There might be past liens on the property which vary in cost--sometimes the properties I buy have $3000-$5000 liens on them which need to be paid to the county.  it is not a quiet title simply because that is the cost I am trying to avoid, and that is why I sell them much cheaper.

 I research each property via the county's official records site to see what liens are on the property to help determine my max bid.  I do not spend the money on title searches as the county has a legal duty to notify all parties involved--one of the beauties of tax deeds is having the county do your legal work for you.  :-)  Besides, doing title searches on the properties you are interested in some FL County auctions can run you quite a bit of money-with no guarantee that the property will even go up for sale on the day of the auction.  Visiting the property is a premium--having boots on the ground--sometimes you can pay a realtor or work a deal with them if you acquire the property to have them list it, visit the property and then send you some pix.  Tip:  Do not shy away from properties with liens on them as many of them get paid back through the overage from the sale so there is no out of pocket costs to you...you just need to wait about 90 days.  Good luck!

Has anyone tried and been successful with negotiating with the county with the properties on the the LOL?  If some have been on the LOL for years, I would think the county might want to negotiate the price.

 Thanks for the guidance Justin!

 Thanks for your info--I will look into that.

Thanks Justin...do you also do self-directed IRAs or just solo 401ks? I still need to get more info on the difference which I can do once I get the time--I will go back and re-read the earlier post. Initially, I thought that the type of companies that specialize in setting them up would be state related in case there were specific laws in that state with the IRA. Good to know that it could be from anywhere--or not--just more to choose from. Thanks!

Although you are in Oregon, is this something you can handle with clients in Florida??  I know I will be interested in pursuing this aspect of my business down the road as I have had some info on this and some knowledge of how it works and how your profits can be tax deferred so you can grow your retirement much faster.  Thanks Brian so much for all that info as it was very beneficial!!

Can one set up the self-directed IRA themselves, or do we need to go through a company? What are the average costs to set one up?

 Thanks Claire...I was thinking of going through Craigslist or a friend to do this task and was wondering what might be a good price per card as I don't really want to insult someone.  I was thinking of like .10 or .15 per postcard.  Ideally, I would like 500 to be sent out per month.  I am thinking this would be about 5 hours per week.  Is that too little you think?