All Forum Posts by: Anthony Yannucci

Hey guys! 

Newbie to sheriff's sales.  I have some questions.

Do any liens/mortgages remain on the houses through a sheriff's sale? We love this one house on the list to be auctioned, but it has a $200,000 mortgage on it from 2010! Are we responsible for that mortgage if we bid on the home, or does the amount we pay just go towards the mortgage and the rest is cleared?

Any advice is appreciated, thank you guys so much in advance!

I have been reading quite a bit of books, from marketing, finance to business. Most recent was Rich Dad Poor Dad. Great book!

Does anyone have any recommendations for business building books, investing books, cash flow books? Anything that can help with business and real estate investing.

Please shoot any ideas my way!

I have been getting a lot of emails about investing into tax liens surpluses...Has anyone here on BP invested in them or know how it really works?

@Anthony Yannucci I think I read somewhere that if they are going through bankruptcy that they can revert the sale in some counties but I may be mistaken. It might have only been for Tax Liens were they would pay less % on their back taxes.

If the house was used as a meth lab you would have to sanitize the entire house before selling or renting it. It has something to do with the highly chemical conditions that stay in the dry walls.

@Anthony Yannucci & @Patrick L. could you share with us what you do for due dilligence?

So far I've come up with:

1. Find a Tax deed that you're interested in.
2. Research the parcel ID for assessment price and land value
3. See if it matches the 70% rule (Assesed Dwelling Value ÷ Gross Assessed Value X 100
4. Check local bankruptcy court on property owners to see if they have filed for bankruptcy
5. See if property owners have any IRS tax liens (not sure how to look this one up yet)
6. Physically view the property (condition, neighborhood)
7. Check with local law enforcement to see if the house wasn't used as a drug house.

Anything else?

Hi Anthony, 

Hillsborough is a live auction

Pinellas and Hillsborough are online tax deed auctions.  They will be approximately two times a month.  You will need to pre-register at least two days prior and make a deposit to begin bidding.  The highest bidder wins the property.  It must be recorded and after that you can do whatever you like that ie:  quiet title, title insurance, fix and flip, etc. 

@Josh Carr thanks I'm looking to only bid on homes with small city liens. If I was to bid on a home with a mortgage will I be responsible for paying it off?

Hello, I will be using my Income Tax return to invest in Tax deeds at an Auction here is Orlando, FL.  I was so confident and now after reading some stories I feel a little nervous and feel maybe I might need a mentor. I signed up for a couple of very low priced tax deed investing training and books and I have learned a lot! I feel confident but then I am left with that What if?...... this happens and I don't know the answer to it. As a single mom with a full time job in FL my return will be about $7500 is that enough for a tax deed? and  can I sale it right away to a rehaber? I don't have great credit that will get me approved for a loan to pay for a mentor either. I actually used my SUV as a collateral loan for investing in Binary options and it got repossessed. And I don't come from a wealthy family; so no one to lend me the money for a mentor either. I am actually the first one of my family to start real Estate Investing or anything this lucrative and that goes for generations before me. So! any advice or recommendations? Do you think I am just getting the jitters because it is my first time; but every thing will be OK? 

If you are flipping, I would pay attention to Mecklenburg, Wake, Orange and Durham Counties.  I'm sure there are some others, but these are the ones I am most familiar with.