All Forum Posts by: Billy Rogers

@Lane Kawaoka you should probably post your question in the forum separately from this thread.  It's not really related the original question asked.   

For the OP - you can read a lot of books and do a lot of research and the answer will still be the same.  Put it in an index fund, preferably with a company that has low fees such as Vanguard.  Your 401k probably doesn't have Vanguard as an option because there's a lot shady things that go on when companies decide on who gets to administer the 401k plan and the best thing for the employee - low fees - is not what they base their decisions on.  However most 401k plans do have a least one index fund that follows the S&P 500 or a broader index.

I think I found the answer in the comments on one of Seth's blog post where he says

"I generally don’t hit it again until about 1 year later (though you could probably hit it as early as 6 months later if you had the capacity to do so)."

Just talk to people and meet other people that interested in real estate.   Most of these meetings are really just real estate guru wannabes trying to sell their coaching and courses.  Pretty soon you realize that the "RIA" is really a business and you are the customer.

Put it in an index fund.  Avoid ALL managed funds.  No fund manager can beat the indexes on a consistent basis.   

I'm curious to know how often any of you successful Land Flippers send out letters in a county?   

I recently acquired a property through my first mailing and wanted to know how long I should wait before targeting that same county again.

I have a seller that has agreed to sell me a (small) vacant lot in Texas.   This is my first land deal.  Do I need to get them to sign a purchase agreement and a deed or do I just need the deed?

They live out of state and I plan on sending the documents to a Notary and having them sign the documents with the Notary witnessing the signature.

When I search online I see examples of purchase agreements and deeds.  I'm not sure if I need both.  Do I need both when I record the sale with the county?

I'm taking a pass on this one.  She doesn't even know who the heir(s) to the mortgage would be because no one has contacted her, besides I was looking for vacant land not land with a house on it.

turns out there's a mortgage on both properties....and she doesn't have their contact info...she said she walked away 3 years ago with about (3 years left on mortgage) from it and moved out of state. the original seller died and she never heard from the heirs.

ok I've been doing some research it looks like one of the properties has a house and one is a vacant lot.  I was only interested in vacant land.  I'm going to give her a call and get more information.

I believe it's the tax auction they are referring to.  I mailed to people that have vacant land and are behind on their taxes.   I'm thinking I need to call the county to find out if I can pay the taxes and prevent it from going to auction.