• Savannah Real Estate Investors Alliance
  • Savannah Real Estate Investors Alliance
  • Join Our Mobile VIP Buyers List
  • The Profit Newsletter
  • Savannah Real Estate Investors Alliance

Tom DiAgostino

Tom DiAgostino

Tom DiAgostino grew up the hard way in the Monroe Housing Projects in the South Bronx of New York City. He seized opportunity and started his college career at CUNY and then Pace University, joined the Army ROTC and commissioned as a Second Lieutenant, eventually retiring from the Army. At Pace he did an internship at Reynolds Securities, a financial firm where he achieved a tremendous education in the markets, and has been heavily involved in the trading markets ever since.

Read more about Tom DiAgostino >>

Articles by Tom DiAgostino (1)


A Tax Sale Deal Review
By Tom DiAgostino on April 3, 2015

Tom DiAgostinoAt Fortris we have several levels of Mentoring and in the past one of these levels was the Generals Club. That club has now been retired. But several years ago we opened it up to 8 investors. The concept was total immersion into the tax sale business and working through an entire deal utilizing the General’s capital while teaching them the entire process of construction management, sales, the associated legalities, and the basics on how to become a very successful real estate investor. At the end of the project we gave the General back all their investment, as well as their mentoring fee plus half the profit on the project they had been tasked with. Currently we still maintain partnership investments with five of the original eight members.

Ann S., one of our Generals, invests in the city of Baltimore which is a very tough market. Baltimore doesn’t allow any scraping of tax sale data from their site, so we needed to pull all the enhanced lists manually. The bidding process is different than any other I've ever seen. First the interest rate is bid down which means that you can offer to take a lower rate of interest payment to win the lien. It is also a sealed bid including a premium offer you are willing to pay, over and above the interest, added in. The county processes all the submissions and the best combination of bid and premium gets the lien. If the property does not redeem, the bid will be packaged according to the best offer combination. For example, if the lien is $5000 and the interest rate is 24%, the bidder may structure their offer to take 7% interest on the $5,000 certificate and then pay a premium of an additional $6,000 above the lien cost if the lien does not redeem. A fairly complicated structure. All the premium bids are sealed and no re-bids are possible. You only get one crack at getting it so you have to use your opportunity to make your best offer possible. Read More >>