All Forum Posts by: Justin Hayes
Justin Hayes has started 2 posts and replied 10 times.
@Mackaylee Beach thank you Mackaylee
@Lindsay Davis thank you Lindsay for your recommendations as I truly appreciate the advice!
@Tenzapa Wakombe thank you very much for the advice! I was able to sit in on the county auction online and was able to get a property for what I had budgeted. Unfortunately, no interest rate because everyone on the auction was bidding everything down to 0%, but nonetheless, I'm excited to have one in my tax lien portfolio now to ease into the process, even if I have to lose a couple of bucks on the fee to purchase the lien if/when they redeem. I consider that educational investment. Now, believe me, the next auction, I'll likely hold out for some property with an interest return now that I've seen the process. I plan to be looking at tax deeds in Tennessee as my next goal after thoroughly researching the details of TN. Thank you again for responding!
Quote from @Don Konipol:
Quote from @Justin Hayes:
I'm new to real estate investing, looking to get my feet wet with small ROI investments such as tax liens to learn the process with smaller risks at first, then move to tax deeds. Any advice for a new investor? Thank you for any advice.
Sometimes, the best way to learn is by doing. So your plan to spend a limited sum on a few low priced tax liens can actually provide you with a relatively inexpensive education, and one that with some luck might not actually cost you anything!
We looked at tax lien investing pretty hard, and I actually did some of it many years ago. However, we determined we could make considerably greater return investing in discounted notes, in hard money/private mortgage lending, and in direct property investment.
Thanks Don for that insight. I've always wanted to get into real estate, but we didn't have alot of capital to get started with. So tax liens felt like a possibility to get my feet wet and observe the process. I'm researching more on the different ways of getting money for investing and what I would like to be able to do (rare, perfect scenario) in the next year or two (based on redemption periods not getting met, is be able to possibly get a tax deed in hopes of foreclosing on the property, ethically of course, and then possibly getting funding for a rehab/flip, to sale or rent with a hopeful higher ROI.
What would really bolster my confidence would be finding another investor / mentor in our region that I could shadow throughout one of their deals / processes to see many of the ins and outs and various things I can run into.
Quote from @Zach A.:
Have you considered wholesaling? Are you looking to stay in the Huntsville market or invest out of state?
Hey Zach, I've not thought about Wholesaling, mainly I guess being brand new, it kind of seems intimidating. I'm trying to overcome my initial anxieties of diving in head first, I just feel like I need some practice before committing. I'm primarily wanting to start out in North Alabama / Southern Tennessee area as I'm actually over in the Florence area. I need to study up on wholesaling a bit more to better understand what that process looks like.
Post: LLC formation address to use
- Posts 10
- Votes 7
@Scott Fuller thank you Scott. That's been bugging me all day and a lot of the different things I read weren't very clear on that. I've also never dealt with a virtual mailbox/address before so that was new to me. We are still in the early stages with prepping everything to get ready for the LLC as we are very new to real estate investing and I just want to get it right so it's easier down the road when we get ready to start more once we outgrow this portfolio. Thanks for your input!
Post: LLC formation address to use
- Posts 10
- Votes 7
I'm probably overthinking this, but here's an LLC formation question. When forming your LLC out of your home to get your real estate business started, did you put your home's physical address on the forms (business name reservation, etc) or did you mix and match your registered agent / use a virtual address / virtual mailbox to forward your mail to your home address to keep from placing your personal home address on the business formation documents? Trying to decide which route to take. Thank you for any advice.
Thanks everyone for the advice! Sat through my first Lien auction and watched bidders bid the majority of properties available down to 0% interest rates. I assume most auctions end up like this on the cheaper tax properties for us (investors) to at minimum, hold out in hopes of getting a property out of it, if they aren't going to make any interest on the lien if/when it redeems.
I'm brand new to the real estate game myself and looking to start with tax liens to get my feet wet.
Ive been watching a lot of videos of Dustin Hahn on YouTube. He seems down to Earth enough and seems really knowledgeable of liens and deeds. Just a resource I've used.
I'm new to real estate investing, looking to get my feet wet with small ROI investments such as tax liens to learn the process with smaller risks at first, then move to tax deeds. Any advice for a new investor? Thank you for any advice.