All Forum Posts by: Jeff James

@Sterling White, I plan on doing that.  I hope to see you in November.  Do you attend CIREIA or INREIA meetings?

I would like to find someone in the Indianapolis area who is willing to be a mentor to a total newbie in the note world.  In exchange I am willing to assist this individual in any task that he or she may be too busy to complete.  If there are no tasks that require my help, I can buy the occasional lunch to show my gratitude.

Thanks in advance for your time and consideration.

@Susan Maneck, not easily.

The boss would not agree to move that far from our grandson.

I am going to have to increase my meal and travel budgets.

@Darron Stewart, that goes without saying.

Based on your above post I need to arrange a similar breakfast trip for you in Hattiesburg.  I haven't been to Mississippi in about 40 years.

@Ned Carey

Now I am going to have to figure out how to get to Baltimore to take you out for breakfast.

@Ned Carey, @Wayne Brooks, and @Dwain Beckford--thank you for your input.

I have been doing as much research as I can do online.  As a result, I am reasonably confident that I am not considering buying certificates for landlocked properties.  I encountered several of those while doing research and eliminated them from consideration.

As I reviewed the FL liens I encountered several certificates that are approaching seven years in age--as I understand it the certificate is only good for seven years.  Would it be an appropriate strategy to buy 2014 certificates for properties that have older outstanding ones because the certificate holder will either have to begin the tax deed process or lose the investment?

Thanks again for the input I have received to date and I appreciate any future advice as well.

I would like to hear from individuals who purchase tax lien certificates online.  I am specifically interested in learning how to perform due diligence over the internet prior to acquiring certificates at auction or buying certificates that don't sell at an auction directly from the county.

I try to look for the same things online as I do when I look at local properties but I often find that some of the data that I look for is missing from the various websites.

Also, being from Indiana where multiple years worth of back taxes are combined into a single certificate, are there different strategies involved when buying certificates in a state like Florida where separate certificates are produced for each year of delinquent taxes--especially when prior certificates have been acquired by different individuals or corporate entities?

I appreciate any feedback that the Bigger Pockets community can provide.

I second what @Joseph Ball said.

I have never personally used these clauses but I know someone who has.  However, he is a very active investor and contractors want to do work for him since he represents a large volume of work.  I do not have such leverage and I am not sure I could get a contractor to agree to that language in my contracts.

My day job is related to highway construction contracts.  I am very familiar with the use of this concept in that environment.  A primary problem that I see in implementing this strategy in real estate construction is related to what happens when an unforeseen circumstance develops during construction.  We all know that never happens, right?  If something is discovered that was not known at the time that the contract was executed and requires additional work to resolve the contractor is entitled to additional time to perform the additional work.  In order to make ld contract language effective, the owner would have to negotiate the appropriate contract time extension required to perform the additional work and ideally this would be done at the same time as the financial considerations associated with the performance of the additional work.

I hope that I didn't make the issue more confusing.  Like you I am interested in the success or lack thereof of other investors in this area.