All Forum Posts by: Clint Shelley

@Ismael Loreto

Use GPS...get professional surveyor.

Clint

@Daniel Zamora

If that property is in a state or area that will continue to or possibly achieve appreciation, that's you best play. In the long run, that's going to outrun the cap ex and occasional por tenant. Good to have a mix in your portfolio but how many times have you heard where an old-timer bought some land or a building that everybody thought he was crazy and he likely made no cash flow but when he retired he sold it for a mint. That's the difference.

Clint

@Sean Barnebey

Brilliant. I will add that to my application. Thanks for sharing. 👍👍👍👍👍👍

Clint

@Mindy Jensen

I love the camp in my RV. Play the drums in rock bands, coach little league baseball and football, but my favorite is deer/duck hunting and fishing.

Clint

This will vary greatly depending on local regs. First stop, call your local health department or whomever oversees environmental permitting. Hopefully you never enough good dirt to add the new field lines. Good luck.

Clint

I would hire a skip tracer to find them. It's likely, they may be deceased so you'd be looking for an heir. If you do not get any response, just watch the property and if it goes unpaid be ready to pay the taxes. Also search for any mortgages. Who is maintaining the grass? If there is a weed ordinance and your brother is cutting the grass, tell him to stop then file a complaint. The city could try to find them.

Clint

25% of all flood damage occurs to property outside of the flood zone. The maps and insurance is relative to the 100 year flood event. We're having them more frequently and more 500 year events. Property on the fringes are likely to get caught without coverage. If you plan on holding long term and if the policy is cheap, it's worth looking in to.

Clint

Paying taxes is not adverse possession. You haven't possessed anything. If you're trying to purchase your way into ownership via the unpaid tax route, that's another matter. To adverse possess, you need to fence of and notoriously defend that property against others and most especially the true owner for the requset time period. Likely 20 years. Then file suit for court to recognize your ownership has truly ripened into title. 

Clint

There's a saying about having a woman with expensive taste that can be applied to these marginal area paper deals: "If their out flow is more than your income, their upkeep will be your down fall!" 

Said outflow will be in the form of more intense tenant management, turnover, collections, attorney fees. If it's marginal, I would consider Sec 8. Good luck.

Clint

So it's renting for 600 a month or so? No flood zone issues? 200 after everything is a solid first deal. You'll learn a ton. Go for it.