All Forum Posts by: Robert Ruiz

Wow thanks everyone, That clarifies it for me. don't think i would buy out of state but was just looking at it and wondering why it was different than the one i just participated in in my home state on Louisiana in New orleans last year. I had one person redeem to of the 2 that I purchased, but i was just wanting to learn by jumping in and doing it. I have read a few books on the subject years ago been when i saw this website pop up (civic Source) it seemed simplify the bidding process.

Hi 

I have used Civic Source one other time to purchase tax Lien Certificates, and was curious if anyone knew of how the Tax Certificate sale in the Memphis area on the 19th will work. From what i gather, it will not be a sale with a Percentage winner, but actually more of a "Highest bidder" like a regular auction...

Thanks

Nevermind I found out the answer

Welcome aboard. The only person i love more than my inspector is my wife :)

Welcome aboard!

@Jarvis Claiborne welcome aboard! I did my first tax lien sale this year in New orleans! Learned a lot. I  Used a site called civic source.com .

I hope you learn a lot here. I did 

Hector Resendez I would keep the property, go refinance it and use the money for another investment. Turn the rental into a rent to own with a larger down payment, so the people will care for the home and you don't have to worry about maintenance etc. you get all the benefits of rental without the headache and you don't have to do any upgrades on the house.

I have great luck with Commercial lenders at local smaller banks here in Louisiana.

 I live in Louisiana and have a friend who is lending $12,000 to someone who is buying a property. The loan will be paid back within 6 months on a promissory Note. What is the maximum interest he can charge on this loan? I know Louisiana usury law says 12%, but is there a provision for smaller amount like this? His banker said 26% was max on a loan like that... Hearing mixed things

Thanks

@mark .... update...I sent a  letter  to both property owners i paid the property tax for! The first was a smaller amount of about $450 and i still have had no response to my certified letters. The other property, on which i paid the initial tax and then a second year tax, responded to the City and paid pretty quick! I sent the letters this past october and by the end of Novemeber i had a check in hand and netted about $500+ in profit on the whole deal. These are both vacant pieces of land.