Howdy

[georgie]

Hey everyone. New user here. I'm a general contractor meddling in the property business.   It's nice to find a forum that isn't all lunch buckets. I found the site last year but only returned and registered a few weeks ago.

I'm not so much into the tax sales but the info here is good and applies to other purchases.  It would be nice to get a good deal on one but I see the market is covered by pros and I'm not holding my breath. 

I hope to buy something that is barely standing but not necessarily a tax sale. I looked around in southern ontario and there is not much by the time I get to it.

I'm hoping to network here and see what comes out of it.

Good luck everyone

[DRD]

Georgie

Where is your home town and what areas are you looking? Welcome and good luck.

Cheers

Doug

[netpred]

Hey everyone. New user here. I'm a general contractor meddling in the property business.   It's nice to find a forum that isn't all lunch buckets. I found the site last year but only returned and registered a few weeks ago.

I'm not so much into the tax sales but the info here is good and applies to other purchases.  It would be nice to get a good deal on one but I see the market is covered by pros and I'm not holding my breath. 

I hope to buy something that is barely standing but not necessarily a tax sale. I looked around in southern ontario and there is not much by the time I get to it.

I'm hoping to network here and see what comes out of it.

Good luck everyone

Welcome.

Try Welland if you are west GTA. The really bad one redeemed. The other is now boarded up and is listed for sale. If it redeems, check out the listing. If it doesn't, you might just get lucky on a tax sale. The minimum is a bit high, but they appear to be two seperate units. Don't know about the inside condition and it looks a lot worse from outside now than it does from the photos (available free at Tri-Target). Check it out yourself.

Good luck.

[Dave2]

Hey everyone. New user here. I'm a general contractor meddling in the property business.   It's nice to find a forum that isn't all lunch buckets. I found the site last year but only returned and registered a few weeks ago.

I'm hoping to network here and see what comes out of it.

Good luck everyone  

Welcome to the board.  Just a couple of comments about buying rural "junkers" or buildings requiring repair.

Biggest concerns I have are too small lot sizes and inability to properly inspect.  I will use an  actual example from last summer as illustration.

http://taxsaleproperty.org/forum/index.php?topic=1879.0

In rural property; without underground services post Walkerton, means you have to have a large enough lot size to be able to properly separate the well and septic system.

Separately buying a structure that you are going to rehabilitate requires expert knowledge and I think you need to be able to inspect it.  With tax sales you buy as is without right of inspection. That is why I am very cautious about structures.  You need to win it the right price or you can get badly burned.  I am aware of some situations that are not in the public domain; including one I personally bought that I honestly talked to the local firechief about using it for firefighting practice.
(saves demolition costs).  

Note as well I have seen many rural structures that were not properly built to building code standards.

On the thread mentioned you can see my perspective.  

Finally with structures you are going to assign a reasonable value to repeat after me;

a) Always always do a drive-by

Forget using google earth, Tri target or Ontario Tax sales only.

I can show you the tax sale  property in North Peterborough county; that had great pictures except the structure no longer existed because of a fire.  Even the chimney was mostly destroyed.    It happened in winter and we had to cross country ski in to take a look.  

Of course if you really want to walk on the wild side you can you can always stick with occupied structures.  Unfortunately I feel sometimes out there are are some people who do it deliberately just to say I got you by redeeming at the last second.  If they really want to get us mad They do it at the bid opening.  

Of course to add insult to injury I have usually been suckered in by Netpred to bet a beer that it will not redeem.  At the rate he is going I figure he will need a designated driver for the next six months.  

[georgie]

Georgie

Where is your home town and what areas are you looking? Welcome and good luck.

Cheers

Doug

I was hoping you wouldn't ask me that.  Now I'm going to be discriminated against by the entire forum.

T****to


Target is between hamilton and chatham. maybe further for the right opportunity.

[DRD]

There is quite a few out london way .... again good luck

[georgie]

What do you guys think of Windsor ?  There is quite a few run down houses in sandwich town.  I had a drive through there recently and many houses were boarded up and abandoned. By the looks of it didn't seem quite nice but all the other houses were full and had lot of students hanging around.

There is something on Baby st right now in the MLS but it looks like they had a sewer problem in 2005 and never got around to fixing it. It is also totally condemned but for the right price it might be worth the repair. The problem is the right price seems to be well under $10k