Are tax sales still worth it?

[twinn1]

WOW, is all I can say, building on islands gets expensive real quick.  I think im being priced out of this market as well.   Soon, us little fish are going to have to take up Speedfreaksteve's suggestion of buying in Florida, just give it a few more months, the loonie is going to be on par with the US in a year's time for sure ,maybe sooner.

Dave2, thanks for that info

[Pfm1011]

Thanks Dave..

Netpred said .$69,000??? I don't think that I'll ever win anything. The propblem is that it costs about $200-$250 to bid on each property after paying for searches etc. So if I bid on 4 properties unsuccessfully (which I have), I am out $1000.

250 a bid is about right.  Odds are you will win one out of 8 or 10 ,( unless you consistently lowball then you win nothing but crap) or overpay and then you can win them all ( until your bankruptcy)

So presumably at worst you will have 2 or 3000 invested in each win. If the land is a keeper, who cares about 2 or 3K.  If its a flip , you should easily recover the costs unless you are bidding on crap

As per 69K   ..there is still alot of good deals done at 10, 20 , 30K etc however is it all vacant or completely rotted out collapsing houses.


If you are on a low budget you simply have to look harder and bid smarter ( and be maybe be a little luckier) then the rest of us. .

However if anyone thinks they will get a cottage in Muskoka or a private island for 10k they are dreaming and wasting their time.

[markymark]

One of those that if you could get a building permit would be a nice purchase.  Odds don't look in your favour for this one for a permit.

I think if you could meet the 30m  set back everything else would fall into place.But you can't.
Owning your own island does sound cool though.Tenting or not.

[farrouk]

Call me an idiot if you want, but I thought this island might go in the 30K range with all the uncertainties surrounding building on it.
The buyer must have gained some assurances from the township or..... they are loaded and just overpayed for a campsite. I hope they enjoy the peace and quite of 10 freight trains rolling by every night 100 yards away.

[26.2]

I didn't bid but was told there should not be a problem getting a permit as long as you satisfied the environmental concerns and not ask for too much [but no guarantee].  The cost of all the hurdles [septic]and the fact it is, boat access, no hydro, dock fees, etc. deterred me.

I hope they enjoy the peace and quite of 10 freight trains rolling by every night 100 yards away.

I thought that train line on the west side of the lake was abandoned and now a hiking trail?

[farrouk]

I thought that train line on the west side of the lake was abandoned and now a hiking trail?

During the 1.5 hours I was there 3 trains rumbled by with horns blarring.

[GovGuy39]

Well if 3 trains blazed in 1.5 hours with their horns blazing i doubt there is any value there, neither a holiday home nor a retail investment, the best i can think of is some sort of a nature habitat where birdwatchers etc can camp etc.

[Dave2]

there are a couple of advantages being an old fart:

1) I now get my bank drafts for free until the bank discovers how many I am using.

2) One final note on Long Island in Tay Valley that I forgot to mention. I wonder how the conservation authority will react when they find that the new bald eagle nest next to long island might be disturbed by new construction.  Might be an interesting article for local paper.
(You learn interesting things sometimes at bid openings)

Dave2

[netpred]

So, I did a title search, execution search, read the comprehensive study on Lake Christie, spoke to the local conservation authority, looked at the zoning by-law, read the Official Plan, spoke to the town Planner and communicated with the Building Department, but how the #$^% do I find out about the bald eagles???

Maybe sometimes the best deals are the ones you don't win.

[Pfm1011]

", but how the #$^% do I find out about the bald eagles???"

late night..shotgun.. bbq sauce ...nothing better then bbq Bald Eagle..yummy    Problem solved

[Dave2]

Son of a bitch it just struck why the guy from Ottawa paid so much.

The bald eagle nest qualifies as a prior non conforming dwelling

Tear it down; Combine with PFM's idea and you are in business.

and to think we all thought he overpaid.

Only thing I am not certain is if Bald eagles are protected under Landlord and tenant?

[bobs]

The property on Cristie Lake, I was interested in it then I spoke to a local about it and changed my mind.  I am still wondering what it went for.  Anybody know?

[Frank]

", but how the #$^% do I find out about the bald eagles???"

late night..shotgun.. bbq sauce ...nothing better then bbq Bald Eagle..yummy    Problem solved

Reminds me of the time I had a racoon in my attic.  After I trapped it and took it outside to release it, the dam think ran right into my shovel.  I didn't think to make a hat out of it, nor to use the rest for a nice down home stew. 

Next time I catch one I'll get in contact with Pfm and see if he wants it for supper.

[markymark]

I thought bald eagles and raccoons were notorious for ramming trains at night.So why waste a shell or bbq sauce?
Or was that deer and moose?