All Forum Posts by: Ashton Baker

@Edwin Epperson very funny how things work out! Definite progress, we own one duplex, a couple single family homes, and building three right now. We just purchased land to put six quads on but with how busy engineering and permitting is that one will be a while before we break ground! We have started looking into STR and plan to get one sometime this year, but just good deals are our niche right now haha Always looking for investment capital, so if it something specific you like to invest in just let me know!

@Dave Becker oh that’s awesome! If anyone plans to get together at any point let me know. I wouldn’t say right now is the best time for deeds, unfortunately, I know a few people that have done them for a while but because it’s so automated a lot more competition has come about. But if you’re interested let me know and we can chat about them!

@Sharnell Nelms ‘Set for Life’ might be my favorite right now! Easy read with really good motivation and education. The Four Hour Work Week was a foundational one for me a few years ago though, so on my list to read again at this point in my investing journey.

I am a new real estate investor in North West Florida. I plan to invest in small multi family properties in Santa Rosa county (this changes slightly almost weekly). I don't believe I will be able to say no to any good deal, so will invest in vacant property and single family homes as well if a deal presents itself. 

I am a full time financial analyst for a government contractor. All investing is on the side, for right now. My mom is a real estate agent and runs the business side of my dad's custom home construction company. I've always loved real estate and growing up with it I've been so fortunate. 

I travel frequently, so hours on the road I have been able to listen to at least 30 podcasts so far, and counting! I've also put quite the dint in my book collection with all the beginner and bigger pockets books since I've started, so any favorites are welcome!  

Thanks for having me :) 

Investment Info:

Other other investment.

Purchase price: $21,100
Cash invested: $3,500

Purchased a vacant piece of land, 2.4 acres, in Milton, FL, through a tax deed auction in August 2019. This was my first deal and with a few hiccups will still come out on top!

What made you interested in investing in this type of deal?

I learned about Tax Deed Auctions a few months ago and decided that would be my main source of purchasing (before I realized the tons of other outlets). Became slightly impatient just wanting to get my first deal DONE - I started bidding on properties in April and did not win one until August.

How did you find this deal and how did you negotiate it?

Florida has Tax Deed Auctions all the time depending on the county. No negotiation, just a bidding war.

How did you finance this deal?

Cash only.

How did you add value to the deal?

I went into the auction with plans of purchasing the vacant land (one parcel) and splitting the piece into two to sell separately.

What was the outcome?

I am currently going through a quiet title action to get a clear title on the property, once completed, should be in March 2020, I will sell.

Lessons learned? Challenges?

A title search was provided, however, a deed in the early 90s was not done correctly so there is an adjacent parcel that has a mortgage on their parcel, as well as my new parcel. This resulted in a loss of $900 and an additional three months to complete the quiet title action. It could not have been prevented, so just a learning curve of potential risks.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm fortunate that my mom is a real estate agent and my dad is a custom home builder. They have both been working together for 30 years now in the county I am investing, so they were my backbone, brain, and market gurus for much of the learning process.