All Forum Posts by: David Boykin

Has anyone ever heard of Aero-Stream for fixing septic systems? They claim their system converts the anaerobic septic system to an aerobic system which supposedly can fix failed septic systems and drain fields. We've got a "failed" drain field and are looking at replacing the drain field or giving this company a shot. 

Hey Will, 

Are you still looking to hire someone and are you looking to hire an actual individual employee rather than a property management company?

@Roy Oliphant 

I was specifically referring to my strategy for buying tax liens for unimproved property. For land, I've bought plenty of tax liens without actually seeing the property. For improved lots, I would absolutely recommend driving the property. However, I've bid on liens for improved lots without viewing the properties before. I only do this if the bid is so low that it makes sense based on the value of the land alone. 

@Tom Yung

Thanks for the information on Georgia tax deeds. I've only been to a few Georgia tax sales and found they get bid up pretty high. I've never purchased a tax deed in GA. 

I'm pretty much on the GA/SC border. The tax liens I purchase are SC tax liens.

I found that land is a good way to start out with tax liens especially if you're hoping to end up with the property. You can do far more research online and don't necessarily need to drive the properties as you would with improved lots. Driving the properties is one of the most time consuming and expensive aspects of the research process. For this reason, I try to avoid it as much as possible. I use a lot of Google maps and county GIS maps to get a feel for the properties I want to bid on. I might drive a few that seem to have high potential. 

Great, thanks! I just sent them a message to see what services they offer. 

If it's truly in perfect condition and he just wants to sell, it probably makes sense just to list it. He's going to lose a lot of value if you try to wholesale it to a flipper since they are going to need a pretty good margin to make a profit off of it. 

Don't try to force a deal with numbers like that. The best thing I ever read said to basically ignore the asking price and just offer what makes sense for cash flow. In my area, the 2% rule is pretty hard to find so I aim for no less than 1.5%. Anything lower than that will almost certainly be a negative cash flow. Also, you should calculate cash flow based on 100% of the purchase price since putting a big down payment can make anything cash flow.

Your best bet might be to find a partner for this deal since it sounds like you should have room for splitting the profits and you'll need cash to rehab it anyway. Otherwise, you might look to a line of credit or even credit cards. If you get a few good cards with cash advance promotions, you might even get cheaper money than you can with a loan. If neither of those options work, wholesaling would not be a bad option either. 

@Kyle Meyers 

I am curious to know what you found out about insuring tax lien property. I'm also in a state with a one year redemption period. I bought 12 tax liens this year and a few would definitely be worth insuring. Seems like someone would offer it, almost as stop loss insurance. The likelihood of the owner not redeeming the property and the property getting destroyed has to be extremely low. Seems like a good bet for an insurance company.