looking for 4 foreclosures properties such as this as investment rentals they will be cash buys with my own savings

Asked by Charlotte Bonia, Tampa, FL Sun Jun 3, 2012

Charlotte Bonilla 4806340647

This question is about this property: http://www.trulia.com/foreclosure/3029187527--W-Ballast-Pt-B…

Help the community by answering this question:

+ web reference
Web reference:


Erek Kirsten, Agent, Tampa, FL
Sun Jun 3, 2012
Your selling yourself short if you limit yourself to paying cash for foreclosure properties. Instead you should concentrate on transactions that make the most economic sense. Would be happy to discuss with you.
0 votes
Dao Alderman, Agent, Tampa, FL
Sun Jun 3, 2012
Hello Bonilla. There're many ways to purchase the property at bargain price for investment, you can go to the court house to purchase the foreclosure property been auctioned out, ot tax lien properties for whatever the tax lien amount, but this is the whole different process from the regular purchasing of the properties marketed buy the realtors. The local realtor can provide you as much information as they can about the properties, the area, or the business at particula location. Especially nowadays, the realtor can provide you all the information of the properties matching your criteria through his or her web site. You either search them by yourself, or the realtor narrow down the list of properties and email to you. You just pick and choose the properties that you interest the realtor would walk you through the whole process of purchase them. Some realtors would also handle the property mannagement for you at certain percentage charge from 10% to 20% of the rent or however the agreement between you and the realtor. Please feel free to contact me if I can assist you in anyway. You're welcome to search for the properties at my web site http://www.DaoAlderman.com.
Dao Alderman, CPMS, CSP, TRC, CRS
Keller Williams Realty, New Tampa
Direct 813-997-2536
Fax 813-779-6167
0 votes
Lynn Brock, Agent, Sarasota, FL
Sun Jun 3, 2012
Charlotte Bonilla, properties located in ballast point area will be selling in the mid 200s. Whether they are short sales, foreclosures or conventional sales. The transfer fee of $1000 represents a public recording fee or document stamps. Even if you could buy this property at auction on the court house steps you will be competing with the existing lenders, experienced foreclosure auction bidders or submitting your bid "blind" to be selected by the selling party.

You can buy foreclosed or bank owned properties however, you will have to look and work hard to find them. Banks have become well organized and the asking price associated with bank properties often is the start price that the bank will accept. Banks like to create a bidding war to obtain the highest and best offer.

Your comments reveal little with regard to type of property, price point, number of bathrooms/bedrooms, desired cash flow and how long you intend to hold the property. Right now your interest is theoretical and not drilled down to realistic figures that could be applied in the field. What's your written game plan as an investor?

Properties values over the past six months have risen, in some areas as much as 20%. Specifically what are you looking for?

Best regards,

Lynn Brock
Brock Realty
0 votes
Thomas May, Agent, Tampa, FL
Sun Jun 3, 2012
Hi Charlotte,

The attached property isn't going to sell for $1000. If you are looking to purchase foreclosed properties we can set you up on an auto email from our mls system so when a foreclosed property is enter for sale it will automatically email you.

Many foreclosed properties are owner occupant offers only for the first fifteen days.

We also manage properties after the sale if you are need of this especially since you seem to be from out of the area.

Tom May
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more