Re: Is it just me or is the government practically giving stuff away? - Posted by tb
Posted by tb on May 15, 2000 at 20:21:52:
re not alone here Ben. Ive been purchasing Tax Forclosed Properties for the last year and consistantly win bids that are not only far under the amount of back taxes (ad velorum) owed, but also far under the “minimum bid” for these properties.
My latest acquisition is a 1.14 acre lakefront lot in a master planned community that had over $1,700 in back taxes owed to the county. The minimum bid was $1,100, I bid $100 and was successful in receiving a Limited Warranty Deed from the State.
There are a few things to clear up on the deed itself, but the FMV of this lot is somewhere in the vicinity of $25,000; marketed properly. Marketed poorly, $5,000 easy.
If you would like to talk a bit more about this niche, please write me a private email.