All Forum Posts by: Roger Poulin

Most attorneies and accountants are qualified intermediaries, and so are some title companies. If you closing is using any of those types of people, and it better have at least 1 of those, ask them what they charge for a 1031. It is usually a modest fee and easier then getting some additional internet based company to do it as an extra party to the transaction(s).

Way to go @JJ Neerman. You got an impressive 500% return in 4 or 5 months. That is great!  Annualized, it would be well over 1000%. You say you got hosed on the sale of your split, and maybe you did, but it was a 5x return hosing! Consider it the price of an education. I would invest with those types of returns.  I probably would have left my money in the deal and taken the cashflow, or sold to a third party rather than accept the low offer from the partners, but that is me. Your situation is probably different.  I would like to talk to you sometime about the particulars of the deal. Like why you didn't start with trying to fill the anchor spot?

@Jamie Parker I know a great CPA in Brentwood.  Very knowledgeable, and will keep more money in your pocket.  PM me for his info. 

Good luck to you @James Staples.  Definitely do the education on BP. Use the computer to watch webinars, read articles, and network before you do anything else.

You can use the computer to start mining possibilities out of sites like Zillow, Trulia, Realtor, and CraigsList.  Locally there is a group called BirdDogBuddy that posts investor to investor deals. 

@Rick H. you are correct on both points. 

Thanks to judges that want to give the property owner EVERY opportunity to get the place back, it took over a year to get that publication approved. I have gone the PI route also, but some people use assumed names or otherwise seem to disappear. The stories on one person was that he took a contracting gig doing security in Haiti after the earthquake for an undetermined time period. Good luck finding him in a country with very little infrastructure and even less government.

@William Floyd,

In Tennessee, you get a final decree confirming sale (deed) about a month or 2 after the tax sale. The previous owner has a year to redeem (reclaim) thee property. That is all true.

What they leave out is that you then have to go though a "Quiet Title" process, and sue the previous owner to extinguish his rights. This can be as fast as 6 or 9 months, or a long and costly process. The link the @Ned Carey referred to is written by my attorney, and he will tell you the process is getting longer and tougher. I have one that has been in process since 2013, and the judge is holding it up because the county was unable to serve the summons prior to the sale. The judge says she hasn't been given an opportunity to challenge the sale because she was never notified that the property was going to sale. This is on a property that has a burned down house on it that was abandoned long ago.  

I only buy tax sale properties with money I can park for a long time.

You better check Section 8 carefully.  Last time I checked, there was no money available in Tennessee for more Section 8 facilities.  There are only vouchers available to individuals. You can still do a good business, but you have to market to find these individuals.

I am in Nashville and the market is so hot, that motivated seller have all but disappeared. On the plus side there are lots of motivated buyers, in the market.  Memphis  market is warm, so it is easier to get into a deal at a good price. 

Remote rehabs are tricky, you need to find a good honest contractor. It can be done.  I know the prices are high in California are high, but I wouldn't do a rehab more than 100 miles away unless someone I trust was there to oversee the project. A contractor should be checked on at least once per week until you have done a few projects together. 

You can not evict because of change in ownership in TN. 

You can begin eviction process if they are 7 days late, but that will take months and cost thousands of dollars. @Account Closed is on the right track. Offer to amend their lease, in writing, so that they do not make a June payment and you will meet them for inspection on the 30th with cash to return the deposit, if it is in at least decent shape. Get a receipt for the deposit.

I recommend "cash for keys” over a judicial eviction every time. It is faster, it saves money, and you are guaranteed not to find concrete in a toilet.

@Carlos Rovira is correct on many points, but wait there is more.  Google, Bing, and Yahoo all look at how dynamic your content is.  This means you have to change your site all the time.  Another factor is how many sites link to your page. At one time it was popular to set up "link servers" that had nothing but pages of links for the web crawlers to find. They got wise to that. To make things worse all the search site use there own unique parameters and algorithms, and they change constantly.

If you are interested / willing to do the pay per click thing, I know a person that can help.  She handles this stuff for may customers, including a big Houston area realtor / investor.  She has been through the learning curve already, and can prevent wasting money.   

@Chris Leonard message me if you are interested, I'll connect the two of you.