A home for under $7000. Post 91

Tax Deed Foreclosure Auction on 5/8/08 Need $6950.

I own this house. I just would HATE to see the State of Florida Stay With It.

This house has no mortgage or any other liens. Opening bid = $6,950.06

Your will own your new house free and clear.

To receive complete & free information just send me an email or visit http://ImForeclosed.info

I am the owner of this house I just don’t want the State to stay with it so I made a website with all of the information about the auction including title search & all paperwork received from the Orange County Tax Collector to make your research easier.

Good Luck.

See entire article: http://germanrodriguez.sawitonline.com/14035/index.php?sess=bW9kPWJsb2cmcGc9bGlzdCZhY3Q9Zmx5ZXJfcHJldmlldyZmbHllcl9pZD0xNDAzNSZmbGc9Tg==

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Coach Mitch’s REFLECTIONS

 

We’re too late

The reality is, if we had been looking for tax delinquent property in this area, then we would have come across this property PRIOR TO IT BEING ADVERTISED. We might have gotten a much better price or terms that are more favorable? Do you need further proof that there are these properties available? Not every property is desperate, and no system is all things to all people, but this property is a good example of what you can expect to find.

Not great but pretty good

What’s with this odd number of $6950.06? I don’t know, but the home is certainly worth more than this amount. It is an example of the kind of mentality that exists out there in Tax Payer Land.

Some Tax Payers would rather see someone, anyone, get the property, rather than the county or the state. That is good for you. Take advantage of your natural position, i.e. not being government, and go claim your due.

This looks to be a single wide mobile home with two additions and a carport. The MH was built in 1953 so it is probably a 10′ x 50′, plus the additions. The two additions look to be 16′ wide, but for the 1216 sf. to work out, one addition is 50′ long and the other is 27′ long.

The Tax Appraiser’s web site showed a taxable value of $116K, taxes of $2074 with none delinquent, but that a tax deed sale was pending.

In 2 minutes, I easily found a comparable listing just NEXT DOOR from this home in the Azalea Park area around Orlando, FL. http://www.trulia.com/property/41273796-143-Coleus-Dr-Orlando-FL it is 1059 sf taxes are $2312 with a taxable value of $131K. The real estate agent says the home is valued at $175K (don’t know why) and it’s selling for $89,000.

I’m sure you see that getting the info via computer/internet is relatively easy.

What to do?

What can we do with the above property that we got for $7000?

It is important to establish what transaction was created.

• Did we pay all cash or did we give a note?

• A $7000 note paid out over 36 months is $194.44 per month (zero interest, of course). If at 10% interest, it’s $225.87, not too much more.

• Should we just clean up the property, mow the lawn, etc., and sell it?

• I’m sure that we could get $47,000. That’s a nifty $40,000 profit with no work.

• You get $40K and pay out $194. Only in America!

• We could also tear down the MH and replace it with another one. Tear down and dump fees could run about $3000.

• There are repossessed, newer, doublewide mobile homes that you can get for under $12,000, installed.

• Let’s presume the new home is valued at $89,000, less $7K purchase cost, less $3K dumping fee, less $12K for the doublewide, equals $57,000 profit. Very nice. The home could be sold well under market, if need be, and your $40K profit is secure.

That is the power of investing in tax delinquent real estate. You are getting the property at such a low cost, that you can be assured of a significant profit, even if you reduce your profit margin.

Coach Mitch’s “Ridiculously Simple System…” gives you the concepts, ideas and the tools to take advantage of those naturally occurring situations. You can help when life enters someone’s space and alters it. You can benefit your life and family and at the same time help someone who has no one else to turn too.

See Coach Mitch’s “Ridiculously Simple System…”for details.

G-d Bless You,