All Forum Posts by: Tim Ball

Thanks guys...and lady! :) Your quick response is much appreciated.  I will check out everything you mentioned.  Merry Christmas!!!

Thanks guys! Very helpful. I actually did invest about 4 years ago (not really knowing what I was doing) on an online auction.  I believe it was Arizona.  I made some interest on my money...which was not very much.  But it was cool.  I think learning tax liens would be a lucrative endeavor.  To make any real money I would think you would need a good chunk of change, which is fine.  I will read up on the above mentioned sites/blogs etc.  Thanks again!

Lets say the interest on a tax lien you purchase is 12%. That 12% is annual interest rate.  Lets say the lien you bought was $10k. If the homeowner pays the tax lien off in 3 months, do you still make 12% on your money or do you only make 3% since it was paid off before a full year?

Second question,  if you buy a tax lien and the investor does not pay it off and you decide to start a foreclosure on the property, do you run the risk of other liens on the property such as mechanic liens, IRS liens, etc.  If those liens are present during foreclusure, will you be responsible at that point for those liens now after taking possession?

Thank you for your responses.

I have realized I have no idea on how to do basic home repairs, I would love to teach myself.  Do any of you have good advice on DIY books or videos that you can direct me to?  I would really appreciate it.  This would be for personal residence and landlording purposes.  Thanks guys!!!

It all depends on how much room you have on it. Does the owner of the property know you are wholesaling their property? Is the seller paying your fee or the buyer? For instance, if the seller wants 700k for the property, are you going to be tagging your fee on top of the purchase price to the buyer? Or are you just selling it for 700k to a buyer and charging a fee to the seller?

Hey guys, My name is Tim. I live in the Dallas, TX area. I love real estate and my goal is to flip properties. There are a couple of problems though. I have never done anything with real estate except buy a land property on an online auction and sold it for a profit of $900, which was cool, but scary. Also, I have no money to flip houses and dont have the knowledge on how to actually find deals that arent already found. I am a hustler though and love to learn. I'm excited I found BiggerPockets. Seems really cool. If anybody wants some muscle or an apprentice in the Dallas, TX area, Im here. Just hit me up.