All Forum Posts by: Ed Tamayo

That amount of money needs the help of a lawyer.  I would not look for a real estate attorney. they tend to do little more than closings. You need a contracts attorney with experience in litigation. 

First -  Sue the heck out of the seller 

Second -  Sue the City.  Yes.  In my experience,  if the city sends a notice to tear down, they will just double down if you inquiry nicely about it.  BUT if you come with a kick *** lawyer,  you can have a better chance.   

I provide a Status report that contains Financial Statements made with Quickbooks and a timeline made with Trello.  We keep all tracking separated by project and don't have the need yet to consolidate all investments by a single client. If it comes to that, Groundbraker will be the first one I'll check in detail. 

@Phil Cecere

We accept funds to invest and we wouldn’t take a certification or verification from a third party.

We must inquiry ourselves by law.

@Will Clark

My advice would be to get a job in real estate and learn that way.

If you have zero experience you can still get jobs showing houses, answering the phone, verifying leads, doing research, and many, many other things. If you are willing to work. After hours and weekends, I am sure you you can find something that will work for you.

Yes. You purchase "inside" the IRA. NO TAXES at all. You pay expenses with the IRA funds. No depreciation to worry at all. Contact me directly if you wan to know more. (I have a SDIRA account for seven years now and its has HUGE tax advantages for me )

 I think its possible to do obtain those returns but you actually have to work to make it happen and not just be a passive investor or fund somebody who will make the money work for you in some area that require specialized skills. (and then, I doubt you can get to 20%) 

If you are willing to work, then there are number of things to do but it all depends on what your current skills are, your willingness to learn new skills and your ability to leverage your cash.  

@Paul C.

In general, Unless you want to build on the property line you don’t need permission from a neighbor but check your covenants if you have any.

@Michael Garrett

Good start by thinking that 401K is norm the best option.

Can you move the 401K to an ira ? ( 401Ks with current employer can't go to an IRA)

I would convert whatever posible to an IRA and then to a self directed IRA. You can then buy a house without have it paid taxes or a penalty for cashing the 401K.

The rent money stays on the 401K but you need to save money for retirement anyway….

I have never heard of TaxSaleSupport Coaching / Shade Ferre & Stephen Swenson's Class before but I exclusively do tax sales and I agree with what has been said already here.

I would just add the following:

I think one can learn the basics of tax Deeds by reading a book or taking a seminar but to make real money you have to invest in tax Deeds and not just in Tax Liens. With Tax deeds, you actually buy the property; with tax liens, you are buying the tax debt with varied chances (mostly very low) of actually getting the property.

In order to make money with Tax Deeds, you have to be able to evaluate a property by just looking at it from the outside and have to be able to estimate repair costs without setting a foot in the property. For vacant residential land, you have to figure out if the lot is buildable (in some cases this is, literally, impossible) . Those are learnable skills but most people would agree that it takes years of practice to acquire them.

We participate at tax sales all the time and our serious competitors are the General contractors that are looking for a house to flip, or Fund Investors like us. The gurus never tell you that you will run into serious competition that are likely to outbid everybody else.

 And it was my mistake not to realize this was the short term rental :)   

I was commenting on the passive investment in general. 

and, by the way, 80% is a very nice CoC. Congrats.