Laws permit tax collectors to sell assets. In my opinion, the TAX COLLECTOR is the #1 official when it comes to buying assets. California real estate is sold after 5+ years of delinquent taxes. Tax rates are about 1% per year, so 5-10% of the assessed value + collection costs would be the starting bid. California assessed values rarely keep up with market values (Prop 13), so the starting bid could be as low as 1% of the market value. Land takes 1-5 years to sell, so it’s good to estimate the sale value 1-5 years from the buy date. Land is low management, low liability, low stress, easy to sell, boring so we can enjoy life. Land could be considered a Zero management asset. Most Real Estate requires insurance, fix up, utilities, management, repairs! Researching Real Estate is “tough and time consuming”. I would say, 5 amateur hours to review each property including: property profile, parcel maps, site & area inspections, photos, sales comps, neighborhood review, area growth review, demographics, etc. This is a road block (job). I have reduced this procedure down to about 5-10 minutes. I map 100’s of properties and inspect 30-50 per day. I can actually inspect property at night. Only 1 to 5% of foreclosures are good investments. I expect & demand NO Emotion, since “emotion” kills your returns. I’m looking for “passive partners” $1m minimum invested in 1 to 10 properties. Profit split is: 50% profits for the cash investor (you) & 50% (research, purchase-sale management & closing) for John Jason Chun-Managing Partner. Our names are on the deed & you get the deed & tax bills at your address. I do research till sold! If you are interested in "no debt-low stress" investing, this is the way to make SUPER returns. A book written by a California Attorney on Tax Foreclosures is available from John Beck in the San Jose, California. Please read: “Real Estate Market Timing” books by “Campbell & Hull” available from www.amazon.com.
John Jason Chun, LLC LLP LP 888-532-7999 Fax 888-595-6299 REPO4SALE@YAHOO.COM
X-Real Estate Broker (California/Hawaii) X-Stock Broker (California/Hawaii)
X-Insurance Broker (California/Hawaii) X-Tax Preparer License, California
X-PARALEGAL (many solutions, fast closings) X-Gun Permit, California
X-National Rifle Association Hand Gun Instructor X-EMS (Exchange Marketing Specialist)
X-GRI (Graduate Realtor Institute) X-CAM (Certified Apartment Manager)
X-CCIM (Certified Commercial Investment Member)
X-CRIA (California Realtor Investment Association Certificate)
BBA, FINANCE & REAL ESTATE, UNIVERSITY OF HAWAII
30+ Years Investment Real Estate BOX 30635 NV 89028 or
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