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Updated about 6 years ago on . Most recent reply

User Stats

26
Posts
10
Votes
Tyrone Alcorn
  • Austin, TX
10
Votes |
26
Posts

Driving for Dollars for the first time

Tyrone Alcorn
  • Austin, TX
Posted

First off, I'm completely new to wholesaling and for the past 2 weeks I've been eating and sleeping real estate from reading the education section of BP, listening to podcasts, reading books, and watching vlogs. 

I found the preforeclosure list and tax delinquency list in my county and have been studying them for a couple days now. So today, while coming back from going out with the family, I decided to test my delinquency list out and look at a property on the list. Sure enough, we drove by and the place looked abandoned and showed all the signs I've read about and heard. Its a nice house in a very nice neighborhood, might I add.

Since this is my first time seeing this and I haven't had a chance to build a buyers' list, get a title company, or find a good real estate attorney to check the buyer/seller agreement I'm like a deer in the headlights. 

Any help right now would be much appreciated. Has anyone been in this situation before? What should I do first..second..third..LOL

Here are the numbers I have so far. 

Tax list shows its has back property taxes since 2016 (as far as I went back) for $17,745.66

Market value per Landglide shows $231,905

-Also shows the house was purchased in 2016

-Did a comp search and shows the house could be worth 303,000

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