All Forum Posts by: Joe Donohue

Do you have anyone local in Indiana?

Only a few sales are online.

www.sriservices.com

Search tax sales, full auction calendar.

Cheers!

Joe D

Hello All,
Indiana Tax Sale season has started.  Super excited!

Just curious who plans on attending which sales.  Would love to meet any of you after the auctions.  
Over September and October, we will be attending approximately 25 sales mainly in Central Indiana.

Feel free to post questions about Indiana Tax Sales here and I'd be happy to answer any.

Happy Hunting!
Joe D

We have some properties just east of that zip code in 46219, 46235. 46226. For the most part safe, but stagnant areas.

About a year ago I was checking out properties in that area and it was ugly.   Unless I had a team there every day, I wouldnt want to be there.    Plenty of other places to chose from.

Some Economic Opportunity Zones in that area:
https://www.in.gov/gov/2979.htm

@John Roorda
My understanding was that Lake Co. was online.  And in general a tough county to work with.

I highly highly recommend using an attorney.  This puts fault with the attorney if they fail to notice properly.  For higher priced liens I may also get the title work and notice on top of what they do.  @Justin Smits is right and don't cheap out on the most important part of the process.  If you are buying in bulk, a smaller office may give you a discount.  

Typically attorney's fees (title search and noticing) are in line with the reimburseable amount set forth by each individual county.  This ranges from $500-$1000.  Attorneys will match this amount for both.  It is reimbursed upon redemption.  

Always do in a company name.  

Best,
Joe D

To me what is important is the physical:
Gold/Metals
Land/Real Estate
Guns
Access Food/Provisions

In the next economic crisis, all that paper wealth in stocks and bonds will be seized to "bailout" the country.  The government, at any time, can call those brokerages and freeze accounts - trading accounts, retirement accounts, etc.  Whats the point of having a stock go up 400% over this low interest rate decade and then not be able to sell?

Paper wealth or electronic wealth we be worthless when governments start stealing it.  Its the easiest thing to steal.

Stick to physical.

I recommend The Death Of Money by Jim Rickards.

Joe

 

 I actively invest in IN, SC, and GA tax sales.  IN you will make no less than 5% per annum.  DM me if interested.

Joe

Another reason I love Indiana:

http://iga.in.gov/legislative/2019/bills/house/1347

In a good economy, the BRRRR strategy has enabled probably thousands of people to leverage themselves into financial independence.

I think less people have thought about what happens if the economy weakens substantially.
A. How will the BRRRR Strategy work when rents cannot be paid?
B.  How will the BRRRR Strategy work when you go to refinance and appraisals come in lower and lower?
C.  How flexible or fluid will you really be when banks/lenders are not as eager to lend?

It seems to me that so many people using the same strategy of leverage (and it is a strategy of leverage) will prove costly in a down market.  I can imagine a domino-like scenario of houses being offloaded by the investors as they struggle to manage so many monthly mortgage payments.  

The strategy assumes and takes for granted a good economy.

As of right now we own our rentals free and clear.  I like the idea that we can adjust the rents to whatever level we need to keep the renters in the space, and we will more often have a positive cash flow.  We have a built in cushion for absorbing an economic downturn.  This idea that I should leverage my equity so that I can squeek by a $100or$200 positive cash flow (in a good market) seems like a recipe for disaster. 

My personal opinion is more investors should seek out private investors rather than mortgage their assets.  I understand that mortgages are cheaper money(for now), but do you really need to pull out 75%???  Assets can become liabilities very quickly if the market changes.

I think there are some that should be doing the BRRRR Strategy and many who should not be.  

Sorry to be so pessimistic but I feel like someone has to mention it.

Joe D

my partner is going to Reia. im out of town unfortunately

Is that REIA?