Tax Lien & Tax Deed investing

[Gabriel Turmero]

As someone new to tax lien and deed investing, I've been studying up to get the hang of it. Now, I'm looking for some guidance or advice, especially from folks who've done it in Texas, especially in Houston. If there's anyone out there like me who wants to team up or plan a trip to the Houston auction, let's connect! It could be a great way to learn and explore together.

[Bruce Lynn]

What guidance or advice do you need/want?

Some quick tips I recommend.

First 2-3 auctions...go to watch and observe.  Don't go to bid.

Know 100% what you are bidding on...don't get caught up in auction fever.  I've seen so many people buy landlocked properties, partial ownership, worthless strips, land in flood zone, wrong house, and so many other pitfalls.

When you are actually ready to bid,maybe 3-4th auction. Make sure you have seen every single property BEFORE you bid.  Don't skip this step.  You may get what you want, but you often learn a ton when you actually drive the property.  People think they can use the internet to skip this step.  Don't do that.  I've seen beautiful homes on google street view, only to drive it and see the house gone and fresh dirt.  Talk with the neighbors and find the house burned down and then the lot cleared.  Internet research will bid based on the house being there.  Also seen the opposite where decent lot, decent price, looked clean, but when I got there must have been $100,000 in cleanup needed with all kind of trash and junk on that lot.

I've never been to Harris county auction, but from what I understand they have multiple auctions and maybe even different locations depending on the precinct, so know where to go if you can.

At one time there was a lady that would offer orientations at Harris county maybe 1 hour before the auction starts.

When you are ready to bid, know how to pay.  Some places are cash, some no cash, only cashiers checks or money orders.  Some want it paid to you, some want it paid to them, some to constable, some to sheriff, some to the law firm, some to the appraisal district.

Payment normally due same day...so nearly impossible to get loans for these.