Monday, March 31, 2008

Tips from successful tax deed investor in Tampa

Read this balanced article covering a good tax deed investor in Florida. This was by Highlands Today newspaper. Due diligence like in any investment is the difference between profit and loss and this investor has a knack for finding the right properties.

If a tax deed investor pays $4,000 for a Sun'N Lake of Lake Placid lot, he may need to hold it for three years or more, but he can expect to sell it for $8,000 or better, Hill said.

Three to five years ago, when the real estate market was hot, 50 to 100 bidders came to Highlands County Clerk of Courts auctions.

"Some of them were offering more than was owed on the property," said Bob Germaine, senior director of court services.

Hill said he's already sold 40 lots. "More than anyone else this year."

Last year, he turned 196 lots, along with a few houses and commercial properties.

But, said Hill, speculators may have to sit on their investments for two or three years.

No comments: