Tony Martinez
speaker
87 appearances
1 recordings
1 series
first heard Feb 2025
last heard Feb 2025
Tony Martinez’s voice in public audio — every appearance, attributed to the second.
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Appearances
of 1991. So we've tapped into, we've been doing research ever since. So just identifying, you know, great markets to work in, knowing how to do the research. And again, just asking key questions. And so some counties do have these over the counter lists and a lot of counties don't. So it's just a matter of doing the research to find the right markets.
Ironically, some of the very same markets you just mentioned, but ours are really based upon how the law, because the difference for us is, The laws that pertain to property taxes are completely different in every market. So it's not like that. If you know fixing and flipping in Texas, you know fixing and flipping in Oklahoma, right?
And laws, rules, regulations, it's not like that in the tax sale market, which is a plus and a minus. It's a plus for us because, you know, Again, no offense, but people in general are lazy and they're not going to go do the research to figure out the differences. That's right. We're OK with that. We love that, actually.
And so for us, sometimes it is the type of laws, rules and regulations that a particular market has. And then another one is. based on inventory. Like sometimes the tough thing for us to answer the question for market conditions, they shift, right? They shift based upon what's available on the list, you know, this year. So I did a bunch of investing in Billings, Montana, right?
And then just the list, you know, the properties that were coming up in the future years just weren't that good. So we just started investing there. You know, I've done a bunch of investing. I mean, hundreds of properties bought and sold in Nebraska, right? But I haven't invested in Nebraska in 10 years, right? And so it just kind of shifts based upon what's available in the marketplace.
So that's one thing. And that's very simple, too. It's not that difficult to figure that out because... You can't, you know, list of tax-free certificates and list of tax-foreclosed real estate, they're required by law to be made available to the general public.
So if there's an auction coming up, the county has to make it easily available, readily available to the general public at least 30 days prior to the auction. So that's not a, you know, that's not a big secret.
And the, so being able to just contact the county, figure out when their auctions are and request their list and seeing if there's anything good on it, doing the research, seeing if there's anything good on it, that's another part of it. And then certain markets, they just have a history of having massive inventories. And so, you know- Is that good or bad?
It's actually good and bad. The bad thing is for someone new who doesn't know what they're doing, doesn't know how to do the research, you know, they download a list and it has 18,000 properties on it. There's just, you know, they're going to be stuck for a little bit, right? And so it does take an expertise and it doesn't take a high level. Listen, you don't need an MBA to do this.
What you do need is you do need systems and you do need processes based upon the markets that you're in. And that thing, you know, that is what we do here at USTLA. And so, but right now, I'll just tell you in general right now, let me tell you where we have active acquisitions going right now. And so this would mean, I'm talking 2024, 2025.
And that doesn't mean that in 2026, they're going to be exactly the same. But I'll give you a general sense so people will know. We have holdings in Ohio. We have holdings in Missouri. We have holdings in, and I'm talking about recent acquisitions. We have holdings in Alabama, like you talked about, Mississippi, like you also discussed. Off the top of my head. Yeah.
And we'll continue to, those are markets that I can tell you right now that we will definitely be focused on for 2025. We've done some very, very small acquisitions in Michigan in 2024. Yeah. And we're going to be looking in Michigan this year and we'll see how, we'll see how that goes.
No, it's actually, it's actually, they're still either County or state entities.
Yeah, in those markets, like you just discussed, the way it works is you do all the research, looks like a great deal. And once we've done all the research, what you're doing, you're submitting an application. So you fill out this application, you submit it. Let's say it's a state entity or a county entity. Doesn't really matter.
And what they're going to do is they're going to send you back what's called a price quote. Now, depending on the market, that price quote, all they're really doing in certain markets is they're punching that address in and they're pulling up all the back taxes, penalties, and interest owed. Your price is the back taxes, penalties, and interest owed, not a penny more, not a penny less.
Other markets, they take their tax assessed value, which is super low because it's been sitting there for so many years, right? With no taxes being paid on it. And they take, it's 50% of the tax assessed value. So sometimes the tax assessed values on some of these properties, the tax assessed value could be $22,000. It could be $18,000.
So we're still acquiring, even when they consider it a tax assessed value of $22,000, We're acquiring a property for $11,000 free and clear with no mortgage on it and no liens on it.
In a general sense, we have a saying here at USTLA, it's called price solves all issues. If we can get them at the right price, we can solve just about anything that would pop up. Now, again, we can't overstate that. We can't not do research. We know going in. So when we do our research process, we're very thorough. We're super, super meticulous. We have current photos of the properties.
If it's vacant, we're going to have pictures all around the property. We're going to have a an aerial photo, a current aerial photo of the property. you're not supposed to really walk in them, but if we can get in them, we're gonna walk through the property and I'm gonna have a rehab estimate before we make the acquisition. So I'm gonna know going in a really, really good idea.
When that price quote comes back, I'm gonna know my numbers. The vast majority of our properties that we acquire right now, the total purchase price, when we buy it directly that way, they range from about $4,000 to about $20,000. That's total purchase price. Yeah, that's insane.
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