This is a super insightful and informative video so I want to thank you for that first. Secondly, I have a question regarding the assessed value of each property. Where do these numbers come from and how do they correlate to the real world value of these properties? Thank you
The assessed value is for tax purposes. So its assessed value is for land taxes, and does not reflect the actual value of the home. The assessment comes from the county. To get the value of the home you need to run comps. If you don't know how to do that you can look up the method online, or you can actually get those numbers from a real estate agent. hope this helps, good luck!
@@jaybrown4444 Great thanks for that. I knew the assessed value comes from the county tax assessor but I didn’t even think about comps so I definitely appreciate that. I’m new to the tax deed game but it’s something that I’m very interested in pursuing so I just want to do my due diligence before I make a financial commitment to a property. Thanks again
@@Garritoification You're welcome, glad I can help. Doing your due diligence can save you a lot of headaches, you're doing a good thing. Good luck on your journey to wholesaling real estate, it's very rewarding and lucrative. Cheers!
If you're buying a leftover tax deed from the state they will calculate all the back taxes in your quote, and it will include all delinquent missing tax years. So in short, if the taxes were $558/year and it's 10 years delinquent, then the price quote for the deed should be at least $5,580 plus some fees, penalties and interest. I'd estimate your price quote from the state for 10 years at that tax rate would be ballpark $6k to $7k once fees and interest are calculated in
From what I can tell it's a mixed bag in Florida - some of the tax deed auctions are bid up very high, and some are not. My suggestion if you want to invest in Florida would be try several counties to see if you can find less competitive areas. There are definitely cheaper less competitive tax deed markets, in particular states that have in-person auctions instead of online can be much less competitive (think Arkansas, Tennessee, etc), and don't forget markets that sell OTC tax deeds/liens are another great way to avoid competition (Alabama, Mississippi, Maryland to name a few). Hope this helps, and let us know if you want to discuss in more detail, happy to chat about it sometime!
This is a super insightful and informative video so I want to thank you for that first. Secondly, I have a question regarding the assessed value of each property. Where do these numbers come from and how do they correlate to the real world value of these properties? Thank you
The assessed value is for tax purposes. So its assessed value is for land taxes, and does not reflect the actual value of the home. The assessment comes from the county. To get the value of the home you need to run comps. If you don't know how to do that you can look up the method online, or you can actually get those numbers from a real estate agent. hope this helps, good luck!
@@jaybrown4444 Great thanks for that. I knew the assessed value comes from the county tax assessor but I didn’t even think about comps so I definitely appreciate that. I’m new to the tax deed game but it’s something that I’m very interested in pursuing so I just want to do my due diligence before I make a financial commitment to a property. Thanks again
@@Garritoification You're welcome, glad I can help. Doing your due diligence can save you a lot of headaches, you're doing a good thing. Good luck on your journey to wholesaling real estate, it's very rewarding and lucrative. Cheers!
Hi Great video, but my doubt is if the Property in Birmingham the 2013 i only pay the U$558,90 for or I need pay the NEXT 10 years also?
If you're buying a leftover tax deed from the state they will calculate all the back taxes in your quote, and it will include all delinquent missing tax years. So in short, if the taxes were $558/year and it's 10 years delinquent, then the price quote for the deed should be at least $5,580 plus some fees, penalties and interest. I'd estimate your price quote from the state for 10 years at that tax rate would be ballpark $6k to $7k once fees and interest are calculated in
@@ParcelFair Nice, thank you. Your system is the Best of all.
@@melhoresprodutos8899 thank you!!!
This is off topic but in your opinion, is Florida bidding costly? Do u think there are easier tax deed states than Florida?
From what I can tell it's a mixed bag in Florida - some of the tax deed auctions are bid up very high, and some are not. My suggestion if you want to invest in Florida would be try several counties to see if you can find less competitive areas. There are definitely cheaper less competitive tax deed markets, in particular states that have in-person auctions instead of online can be much less competitive (think Arkansas, Tennessee, etc), and don't forget markets that sell OTC tax deeds/liens are another great way to avoid competition (Alabama, Mississippi, Maryland to name a few). Hope this helps, and let us know if you want to discuss in more detail, happy to chat about it sometime!
@@ParcelFair Thankyou! This was very helpful to me
@@Puppetgush You're welcome!