STORY - GOVERNMENT AUCTION SALE
TAX LIENS - REAL ESTATE
tax, lien, auction, government, real estate, foreclosure, defaulted, surplus, county, city, state, business, opportunity, profit,
FUN and PROFITS in TAX FORFEITED LANDS
8 March 2000
MOTIVATIONS FOR THIS WEEK
"Knowledge is Power - The lack of it can be very expensive"
NEWSLETTER -MARCH 8, 2000 COURTESY OF TAX RESEARCH FOUNDATION
THE STORY OF REAL LIVE TAX SALE
HELD 7 MARCH 2000
BRAZORIA COUNTY, TEXAS
ALSO KNOW AS "MY SUCCESS STORY FOR THIS WEEK"
I apologize for being a little late with this week's NEWSLETTER. But, I have an excellent excuse. I researched and attended a tax sale. Perhaps you would like to hear about it.
About 3 weeks ago I obtained a list of properties coming up for sale in my home county on 7 March 2000. There were 26 properties on the list. I will tell you how I researched the properties and why I chose to bid on 9 of the 26 properties. But first, let me tell you about my success at this sale. I would not describe it as Excellent. But I would describe it as GOOD compared to AVERRAGE or POOR. To make a long story can be short at the beginning, I was able to acquire only 4 of the 9 properties. My total investment was $12,865.00. I sincerely believe all of the properties can be sold within the next sixty days for over $85,000. This means that for my research, attending the tax sale, investing a fair amount of money plus a little more effort in marketing the properties a net worth increase of over $70,000 will have occureed. I know of no other business where an investor could accomplish such a feat for the small amount of time and money invested. Read on. I think you will enjoy the story of this tax sale.
First here is a list of the properties in numerical order and a brief description of each one.
1. Eight residential lots in the city of Freeport Min. Bid $6500. Assessed for $17,000. I decided not to bid. No bids received at the sale. There are many residential lots in this town on the County "Struck Off" list. There is very little to no demand for them.
2. 4.12 Acres on a major highway near the town of Brazoria. Min. Bid $1850. Estimated FMV $20,000. SOLD TO ME FOR MINIMUM BID. I considered myself lucky to get this parcel. A state highway runs right through the middle of this parcel. It will be very easy for me to split it into two parcels. One parcel will be approximately one acre and the other will contain approx. 3 acres. There is a very nice home on the East side of the Highway adjoining the South border of this property. I also like it because hundreds of cars will drive by every day. My FOR SALE BY OWNER signs will be easily visible. See Photo below:
3. 2 Lots in Richwood, TX. Min. Bid $1325.00. Estimated FMV: $5000.00. I decided not to bid. SOLD FOR $1325.00. I did not try to locate this property. I am not enthused about acquiring residential lots in small towns for this kind of money when, using the techniques in our manuals, I can pick up all I want in very nice retirement subdivisions in this county and similar subdivisions all over the country for $100 or less.
4. Two residential lots, City of Freeport, TX. Min. Bid. $1275. I decided not to bid. Sold for $1275.00. Again, my comments are the same as for No. 3. I did not bother to check them out.
5. Four Acres, near Alvin, Texas. Minim Bid $1320. Assessed Value: $9,480. My research revealed there was no access. SOLD FOR $3,400.00. The aerial photo of this property revealed there was no access. I see no benefit in acquiring problem properties where there are thousands available without problems.
6. Five Acres with good access. Min. Bid. $5500.00. Estimated FMV $35,000. I had an agreement with another professional not to bid against her on this property. Sold for $8100.00. This is a five acre tract with the dirt road in the little subdivision dividing the 5 acres into two parcels. These 5 acres are virgin land and has never been used for residential purposes. Therefore, there was no chance of there being a well or septic tank already installed.
7. Two Acres in an excellent location in the county close to a Freeway on a blacked topped road with nice homes on both sides. Min. Bid $2160. Estimated FMV $30,000. This is the only property on which I had any competition. I was successful at $5,000. Was offered $15,000 in cash within two hours of the sale. I declined the offer. There are absolutely no properties for sale within a one mile radius of this property. Traffic on the paved county road No. 90 is heavy. Hundreds will see my FOR SALE BY OWNER SIGN as they drive by. I will put a price of $30,000 on this property with $3,000 down and the balance payable at $270.00 per month including 10% interest. If a good prospect does not have the $3,000 down, I will certainly work with them by lowering the down payment or taking something of value in trade for the down payment. See the photos below. First one is of the home bordering this property on the North. The second one is a direct shot of the two acres. Please notice that it is fence. There is alos a very nice home on the South Side.
8. 2-1/2 acres on SH 288 (major state hwy with limited access). Min. Bid. $2550. I agreed not to compete with the lady professional on this one. It sold for $4,000. Estimated FMV $35,000. I really wanted to bid on this property and I would have paid a lot more than $4,000. But, when you attend tax sales and learn who the other professionals are, it is much better, in my opinion, to co-operate with them and not bid against each other. You both save a lot of money in the long run. About 2 years ago, this same lady and I had a similar agreement. I did not compete with her on a very nice home that she acquired for $20,000. She told me she did about $6,000 in repairs and general maintenance and sold the property last month for $110,000. She also did not bid against me on the $55,000 home that I acquired for $7800.00 last year.
9. One acre with a well and septic tank on a major highway. Min. Bid $2970. Estimated FMV $17,500.00 SOLD TO ME FOR $2970.00. Again, I love these kind of properties. I walked through the property and found it had a well and septic tank already in. Those two items costs about $7,000 together in today's market. Again, my FOR SALE BY OWNER SIGNS will be view by hundreds, if no thousands, of passer-bys every day.
10. One acre (net to No. 9, also with a well and septic tank and driveway. Min Bid. $3045.00. Estimated FMV $17,500. SOLD TO ME FOR $3045.
11. 9.38 ACRES on a SH 288. Min. Bid $3175. Estimated FMV $40,000.00. Sold for $10,800. I was outbid on this one. The buyer would not have stopped, as he owned the mineral rights. He would have paid up to $40,000 and I just did not feel good in running him up.
12. One acre in a small Subdivision in the country. Lots of Trash. Min. Bid. $2700. Estimated FMV $15,000. I was outbid on this one. Sold for $11,250.00. I think the lady who purchased this property paid way too much for it. Even though there is a well and septic tank on the property a lot of clean up is needed.
13, 14, 15, 16 and 17 were small acreages in the country with no access. Aerial photos readily revealed the access problem. Just by looking at aerial photos you can save a lot of time and effort in trying to locate properties that you probably will never be able to physically inspect.
MONEY SAVING TIP: Did you know you can download aerial photos of almost every property in the United States from: http://terraserver.microsoft.com/default.asp
No. 17, a 1.34 acres actually sold for the minimum bid of $2760. The assessed value was $5520. I would not want to be around when they find out they have no access to this property. Not that they cannot acquire access. They can get access but it will costs them several times the value of the property. Again, my motto comes into play: "KNOWLEGE IS POWER - THE LACK OF IT CAN BE VERY EXPENSIVE".
18. City Lot in Alvin Texas next to nice home across from school. Min Bid $1724. I decided not to bid. Estimated FMV $10,000. Sold for $1724.00. This is a very nice lot. However, I see very little construction of new homes in the older part of any town in this day and age. There is very little demand for a property like this.
19. Two nice lots in City of Alvin. Min Bid $2930. Est. FMV $20,000. SOLD FOR $2930. I decided not to bid. This is the same situation as above.
20. Single Family Frame Residence, 115 N. 8th St, Alvin, TX. Min Bid $8990.00. I was out bid. Est. FMV $35,000. Sold for $10,500. This was well worth the money. However, it is located in the poorer part of town. It is obvious from all the bicycles and toys that a lot of kids live in this house. I just decided that I would let someone else have a bargain. It is possible to get too greedy in this business.
21. 1975 square ft. single-family brick home in nice subdivision. Min. Bid $20,450.00. It had foundation problems (cost to fix about $5,000). Est. FMV. $90,000. I bid to $30,00 and quit. Sold for $36,500.00. I did want this property. I bid up to $25,000 and quit at that point. There will be a considerable about of profit but not in the 400% to 600% profit range that I am use to achieving. I would rather have a lot of easily sellable properties than one bigger property.
22. Old frame house in bad section of town. Min. Bid. $4735.00 Sold for $8150. 23. One acre with trashed house in county. Min Bid. $9227. I did not bid. SOLD FOR $9227.
24. Commercial Bldg. Downtown West Columbia, Min. Bid. $22,100.00. Assessed Value $75,000.00. NO BIDS. Photo Below
25. 1/3RD UNDIVIDED INTEREST IN 3 ACRES. Min Bid $845. Sold for $1000. I bid $845 just as a gamble and got out bid.
26. Small Commercial Bldg. In West Columbia. Min. Bid. $3680. Assessed Value: $12000. Sold for $3650. See Photo Below.
MY MARKETING PLAN
My marketing plan to dispose of the 4 properties purchased at this auction is quit simple. I already have photos of each of the properties.
FIRST: Make up a sales package for each property. My "FOR SALE BY OWNER PACKAGE" will include the following:
1. General Area Map of the Property.
2. Specific Area Map of the Property.
3. Plat Map obtained from the Central Appraisal District or the County Clerk.
4. Photo(s) of the property. One direct on. One to each side and one showing the access or road in front of the property.
5. A sheet describing the terms and conditions under which I am willing to sell.
SECOND: Place "FOR SALE BY OWNER" signs on the property. This with show my phone number. Some times I even put the selling price and terms on the sign. These signs are obtainable at Wall Mart or most Hardware stores for less than $1.00 each.
THIRD: Place advertisments in local throwaway or FREE ADVERTISER type of papers (only if not sold within six weeks).
I will send my "FOR SALE BY OWNER" package to anyone who calls or replies to the advertisement. I use a "FOR SALE BY OWNER" package for advertising properties in other areas of the county where all I normally do is place advertisements. This makes it easy for anyone to locate the property and also gives me a list of potential buyers for other properties in the same area.
HOW DID I TAKE TITLE
When I was asked by the attorney representing the county and the city selling these propertis how I wish to have the deeds made out, I ask for four different deeds, each one with a different trust name. I have already set up the trusts and all I have to do is attach the sheriff's deeds when they arrive. Go to http://www.trustsnow.com to learn the benfits of taking title in the name of a trust.
Neptune, NJ - 30 March 2000
Athens, Alabama - 1 April 2000
OKLAHOMA TAX RE-SALE AUCTIONS
All Counties - 12 June 2000 - Now is the time to start your research.
ARKANSAS TAX SALES
Several Counties - May and June 2000. Get your catalog from: Arkansas Commissioner of State Lands. Visit their website and subscribe: http://www.state.ar.us/land/land.html
Thousands of properties are coming up for tax sale on 7 March 2000. These are all judicial foreclosure sales and the high bidder is entitled to a deed and possession of the property. There is a redemption period but the amount required for redemption is extremely high. Contact the county tax collector or county Central Appraisal District. You can obtain a complete list of Texas, Arkansas, New Mexico, and Mississippi properties from a firm called Real Estate USA at http://resusa.net/res/index.htm
FLORIDA TAX DEED AUCTIONS
Conducted by the Clerk of the Court - Tax sales are conducted in almost every county every month. Go to http://www.taxsales.com/counties and click on the various county websites.
HUNDRDS OF AUCTIONS IN OTHER STATES
We suggest you buy a manual for the state you are interested in and get your name on the mailing lists of the proper officials. Each manual has the contacts you need. This is research you need to do on your own. It can be a lot of FUN and highly PROFITABLE.
PROFIT MAKING MANUALS AVAILABLE
FOR EACH STATE
CLICK HERE - TO ORDER NOW - Each U. S. State Available Only $39.00 each.
Check out our Specials (Deep Discounts) on our order page).
HERE IS WHAT YOU GET WHEN YOU ORDER
Average size of these documents is 80 pages formatted for your favorite word processor.. These are not simple reports; they are comprehensive for each state.
1. Ten proven and tested profit making formulas and techniques.
2. Pertinent statutes relating to the collection of delinquent taxes and the sale of property for non-payment of taxes included in each state manual.
3. Form letters for your use in contacting the proper public officials are included in each state manual.
4. Form letters for contacting delinquent property owners prior to the sale and buying the property for a token payment.
5. List of public officials to contact. This list can be imported into your favorite database and used to mail merge letters to the proper public officials. 6. Public record statutes.
7. Complete text of most statutes relating to taxsales.
8. Techniques that work - not just theories.
FORWARD THIS NEWSLETTER TO A FRIEND.
Do a friend a favor and forward this newsletter to them. They can subscribe for FREE by clicking on http://www.taxsales.com/subscribe.htm.
Our manuals are becoming more and more popular. If you have not already invested $39.00 in a state manual of your choice perhaps today is the right time. Also, if you have ordered one or more check on our specials for upgrading at http://www.taxsales.com/ordermet.htm
WANT TO LEARN HOW TO MARKET FREE AND CLEAR LOTS?
Click here: http://www.taxsales.com/lots.htm
READ OUR ARTICLE ON HOW TO RESEARCH AT http://www.taxsales.com/research.htm
RECENT SUCCESS STORIES http://www.taxsales.com/stories.htm.
CHATROOM INVITATION Our customers are invited to join our lively discussion group at our chartroom, http://anexa.com/1ataxresearchfoundation/signInGood.lhtml.
OUR QUESTION AND ANSWER PROGRAM. Please do not phone us for answers to your questions.
We have provided a program for this. You can go to http://www.taxsales.com/postit.htm and post your questions and comments.
The answers too most questions can be found at http://www.taxsasles.com/qna.htm; http://www.taxsales.com/stories.htm and at http://www.taxsales.com/postit.htm.
If you cannot find an answer to your question on one of these pages then please POST your questions at http:://www.taxsales.com/postit.htm
I will try to post answers as soon as possible. The telephone number listed below is for order taking only.
GET YOUR PERMANENT EMAIL ADDRESS AT http://taxsales.mail.everyone.net
AOL PROBLEMS AND POSSIBLE SOLUTIONS
Getting into our Chat Room. Many AOL members are having problems accessing our chat room and other chatrooms.Click Here to Join Chatroom: http://anexa.com/1ataxresearchfoundation/signInGood.lhtml
Just connect to AOL, go to the Word Wide Web, minimize the AOL window and launch a Java enabled browser. You can download Netscape Navigator v3.01 from http://www.netscape.com or Microsoft Internet Explorer v3.0 from http://www.microsoft.com
EMAIL PROBLEMS - It is very difficult for us to work with AOL's email service. They severely limit the size of emails and the size of attachments to email. That problem is easily solved. We have partnered with a great organziation to provide you with a great email address. It is Permanent, Private, Accessible World wide, highly reliable, and you can send and receive attachments of almost any size. You get a huge 6 Mega Bits of Storage Space. Get it Now and start letting all your friends know of your new email address. http://taxsales.mail.everyone.net
FREE INTERNET ACCESS: Did you know that you can now get free access to the internet (no need for AOL anymore): Just click on one of the links below or all of them. Whay not try them all? No more monthly bills.
There is a one time setup charge with Web Combo then it is free for life. No pop-ups. I have used it for about one year and love it. I never get a busy signal and have never been cut-off.
Take a look for more Free Internet Access Providers:
1.Free Internet Access Directory - A list of Free ISP's around the globe Computers - Internet - Commercial Services - Access Providers - Free Internet Access
ONLY THOSE WHO DARE TRULY LIVE!
Tax Research Foundation P O Box 1034
Manvel, TX 77578
Phone: 281-585-2211 - email@example.com
CLICK ON THE LINK BELOW TO GET YOUR PERMANENT
FREE EMAIL ADDRESS WITH GLOBAL ACCESS
MOST RELIABLE EMAIL SERVICE ON THE INTERNET
SEND AND RECEIVE EMAIL WITH ANY SIZE ATTACHMENTS
SIGN UP NOW - YOU WILL NEVER KNOW WHEN YOU NEED IT
Get FREE Email Now!
(c) Copyrighted 1997, 1998, 1999, 2000 - Tax Research Foundation - All Rights Reserved.