Posted by lyal on February 24, 2002 at 07:44:00:
Ben,
Here’s Jimmy’s address and phone: (from a Yahoo search on “Jimmy Napier”)
P. O. Box F
Chipley, FL 32428.
(800)544-4488.
FL question about tax sales buying - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on February 23, 2002 at 16:28:49:
I received the following response on e-mail after Michael xyzxyz had asked about a book on buying FL tax sale properties. I have omitted his real last name. I post here as I see no problem with privacy and others may benefit or responde.
-–--The E-MAIL–------*-
Mr. Starr, Thank-you for your quick reply. I have the book [you mentioned about tax sales that] Jimmy [Napier] sold (License to steal( lousy title)). I didn’t know if there was something more recent. I recently took my sons to one of Jimmy’s seminars in Chipley,
He is a very interesting man.
Do you live in OK to manage this houses or is this an area that has such potential to you that you buy but then have a local manage it for you? My biggest concern with these tax resales is title problems or purchase the property being toxic for one reason or another. If the property is bought what happens if all parties haven’t received notice and I’m wanting to resell it? What are your thoughts on this? I am grateful for your advice.
------RESPONSE-----–--*
Michael–(FL)----------
I think there are a lot of opportunities all over the country to invest. There are a lot of opportunities in tax sales, too, mostly all over the country.
The tax sales process is pretty much the same it was 100 years ago, so don’t worry about “old” books on the topic. There maybe some recent changes in the law. I recommend studying the local tax sale laws carefully before investing in that manner.
I invest in OK because I can buy properties for much lower prices than here in Coastal CA. I can get a high ratio of rent to property value there. Here in Coastal CA, it is hard to invest in properties for cash flow. I have three different property managers, because I have properties in three different counties at this time time. I am trying to get more properties in those same areas, for the managers to help me with. And I am trying to get some properties in other areas.
You comment: "My biggest concern with these tax resales is title problems or purchase the property being toxic for one reason or another. If the property is bought what happens if all parties haven’t received notice and I’m wanting to resell it? " You must do your own research then as to the issues you bring up. You must check with the county treasurer or tax collector’s staff to see if everybody was sent notice as required by law. That means you have to do your own title search so you know who should be served notice. If the notice is not proper, don’t buy the property or the certificate.
As far as toxics go. Avoid properties that have characteristics of properties in the past with toxic problems: tanneries, chemical plants, petroleum production and processing and storage, automobile repair shops, gasoline stations, mines, plating companies, etc. Also, walk the property and look for barrels and other problems.
I buy single family houses, few of these will have toxics problems. But it is prudent to check with the local police department or sheriff’s office about possible drug labs on the site.
You just have to put in effort to make this program work. There is no way to be lazy and get rich that I know of. If you find a way, please let me know so I can explore it.
Good InvestingRon Starr
Can’t find Napier book on Amazon… - Posted by Ben (NJ)
Posted by Ben (NJ) on February 23, 2002 at 22:30:06:
where did you get it?
Re: Can’t find Napier book on Amazon… - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on February 25, 2002 at 09:43:32:
Ben–(NJ)--------
The book was not written by Jimmy Napier. He owns the publishing rights to it. It is named “License to steal.” Jimmy Napier is in Chipley, FL, a tiny town near Panama City, in the Panhandle.
Good Investing*******Ron Starr***********