All Forum Posts by: Jim Wineinger

Actually a slumlord is a landlord who refuses to take care of his apartment, but still expects the tenants to perform.

THERE IS NO NEED FOR ANY SLUMLORDS. These people give landlords a bad rap and why there exist some rules on the landlords that actually only serve to cost the tennant more money per month to comply with the regulations caused by those slumlords.

Actually in TN the tax deed sale acts like a tax lien/certificate sale in that there is a one year redemption period. You are issued a reciept for the winning bid at the end of the sale but do not recieve the deed until after the redemption period is over.
They can also conduct a tax deed sale for any property which has already been thru the regular tax deed sale recieving no bids (county was high bidder), after the redemption period is over. This tax deed is not finalized for the advertising period of 10 days at which time you get the deed immediately with no redemption period.

Rich, I have a slighty different viewpoint.
In these interesting times, if things go sour you have to rely upon yourself totally. The system collapeses and therefore there are no banks. This defeats the treasuries, foreign currencies, ect.

Relying upon ourselves, RE for protection will be king. But to that those that help others in the same area (community) will draw to you a group of people that will help protect any assest that you have stored away. Since you are helping them out with shelter, food, ect they will be your protection. You will in essence become king of your community.

At some point (extended interesting times) the storage will run out, so the area will need to be "farmable" and "huntable", but not necessarily tropical as that tends to limit the fresh water availability with the "salty" or mixed "murky" waters. A good healthy forrest nearby will also be a necessity as you can actually survive by eating nothing but leaves and plants (polk salad anybody?).

This I would repeat in a many "ideal" locations as I could find even if it only has the farmland, or the forrest land.

You actually would be building your own ideal community.

Worst case scenerio is that you invest in a tax certificate which ends up giving you the property, but does not cancel the existing liens. Therefore you are now responsible to pay for the homeowners liens in order to keep the property and not be foreclosed upon yourself.

You do not have to retain an attorney, but if you do not how will you know your local laws regarding these tax liens/tax certificates/tax deeds?

Not just any attorney will do!!!!!!!

What I see comming (and has already started) is "multi-generaltional" living.

As we get back to each family taking care of itself, and being responsible for themselves (all generations), then the answer will be in buying and holding those multi-family units and renting them to those responsible "multi-generaltional" families who have proven themselves to you in your current rentals.

Those that show responsibility for themselves and thier families (or communities) are the most likely ones to survive in any upcomming upheavals as they all will band together as was the case in the "wild west" days.

Most investors, in this area, are looking for a higher interest rate provided by the states laws.

Because the bidding amount is usually the taxes owed (you are basically giving the homeowner a loan for the redemption period) the risk is lower due to the lower amount of monies risked. But the risks are higher than most ways because if you go on the property itself you are essentially tresspassing on the homeowners property and can be arrested. Therefore it is harder to do proper due diligence on these properties. Plus the lists of available properties are not usually published until 2 weeks before the sale (sometimes one month). It is therefore a lost easier to miss something as you are deciding which properties to bid on.

It would be best to plan to attend your first sale and not "buy" anything but see how things are done in your county. Making notes about anything you did not understand and at a later time ask the officials who conducted the sale, or an individual who you saw was very active at that sale. I have found that most of them will be willing to give you the needed information at a lunch/dinner meeting (you would offer to pay, of course).

Not to mention the next housing bubble burst according to a few articles. Some reposted here.

Lets examine just what is the realtors "service" . It is either to assist in selling or assist in buying. Therefore if you do not sell or buy then the "service" has not been provided and should not be paid for.

The only ethical way to pay for a service is after it is provided. Just like you pay a contractor after he has completed his work (you might advance parts purchase costs), the same thing with the auto repairs. In the case of RE it is the sale/purchase that completes service.

Maybe the sale/purchase should go through with the realtors given right to levy against the property if payment is not recieved much like the mechanics lien for contractors who dont get paid after performing.

The problem with any such comparisons, is that they are never truly equal.

income/price ratios do not reflect anything because one person is only making enough to survive, while another makes enough to buy two homes and survive.

The survival costs should be subtracted out of income to make things equal before comparing to home costs.

instead of income/price ratios
it should be disposable income/price ratios.

And the comparison of these figures will usually give you an indication of where people choose to live: city or suburbs.

For the most part, realtors don't set the prices for which houses are sold any more so than stock brokers set stock prices...the free market does this. And this is the basic point that you're missing that undermines your entire argument...

The only thing to possibly add to what is stated above is that the realtors can add value (or subtract value) to a property by thier abilities, just as a wholesaler can, or a rehabber can.

This, in my opinion, is the only part of things where your arguements can possibly hold water, but the same thing would have to be said about the wholesalers, and rehabbers that you are saying about the Realtors.