All Forum Posts by: Cameron Phillips

@Thomas Weidner

I'm in a similar boat, did anything ever come of this? Currently looking at a house in Texas with a tax lein of about 20 years of back taxes being owed. Equalling around 105k, definitely a tear down and rebuild property in a neighborhood where the ARV would be roughly 150-200k. With an ARV like that and needing to demo and clear the aftermath, I feel like an investor would have to get it for free lol.

@Jeyo Punnakottil in my opinion dirty carpets are a little expected and bags of trash aren't a huge deal. She paid rent on time and 1st candidate is more than qualified it's a risk I'd be willing to take.

@Jeyo Punnakottil personally I would rent to them. Just make sure you get your deposit.

@Trevor Dominique I agree with everyone about replacing the fence. And with the current prices of lumber I would consider a quote for iron gate, stone, etc. Something that will add more value to the home as well as have a longer life span. Personally I like the privacy of stone.

As everyone knows, the Austin market and surrounding is ridiculous, at the moment. I've been out bid five times on 20k over asking in the past three weeks. I've found a couple homes in the past two weeks I would have been willing to pay 60k over asking for. The issue for me is the appraisal... I can't come up with the down payment, closing costs as well as the difference from the offer and the appraisal. I'm looking to buy in San Marcos, TX, as that is where I work, enjoy the area and want to be. I'm looking to rent the spare rooms out while living there, it's not just an investment as it is I need a place to live and would love to own a house in one of my favorite areas in Texas. (Which is why I'm willing to pay more) I was told by my current agent that an appraisal contingency offer would not get accepted in this market. Is that true? Is there any real option other than building my savings even more to cover that difference between the appraisal if I want to buy. It's starting to seem that I should do just that and wait for it to cool down. Thanks in advance for any advice, constructive criticism or even just criticism.

Seems as if everything in the market is over priced, going under contract within a day or being purchased for over asking. I'm a firm believer of winners win and losers lose; but im curious, can a home be a good investment if I am overpaying for it from the start?

Ultimately if I went through with this I'd like to keep the house in the family and put it up for rent. 

Hey there, this is my first post and I'm just getting started in investing. My mother wants me to have my grandmothers house in Corpus Christi, Texas. Mortgage is paid off however property taxes are equalling about $57,000 from the years and years of my grandmother being unable to pay them. Lots of remodeling and renovating are needed. Property probably couldn't even pass an inspection yet it is livable and would be a cheap roof over my best friend and I's head when moving back to Texas. (Garage needs a new roof, I'd like to add a full bath to the master bed, remodel the existing bath and kitchen and take down the wall separating the kitchen and dining room) just a few things I can think of off the top of my head. In what conditions would it be a good idea to jump in and take this project on? Could I bargain the city or country with the property taxes? Any questions to think about, advice or input is welcomed and appreciated!

Hey there, this is my first post and I'm just getting started in investing. My mother wants me to have my grandmothers house in Corpus Christi, Texas. Mortgage is paid off however property taxes are equalling about $57,000 from the years and years of my grandmother being unable to pay them. Lots of remodeling and renovating are needed. Property probably couldn't even pass an inspection yet it is livable and would be a cheap roof over my best friend and I's head when moving back to Texas. (Garage needs a new roof, I'd like to add a full bath to the master bed, remodel the existing bath and kitchen and take down the wall separating the kitchen and dining room) just a few things I can think of off the top of my head. In what conditions would it be a good idea to jump in and take this project on? Could I bargain the city or country with the property taxes? Any questions to think about, advice or input is welcomed and appreciated!

My grandmother recently passed away and my mother wants me to have her house in Corpus Christi, Texas. I would love to keep it in the family. Mortgage is paid off, however, property taxes are equalling about $57,000 from her years and years of not being able to pay before her passing. As well, the house probably wouldn't even pass inspection. I was told the garage roof is coming in, I'd like to tear the wall down separating the dining room and kitchen and I'd like to add a full sized bathroom to the master, all in all it needs a good amount of work and renovating and remodeling done to it. (Not sure what that would equal out to price wise, but those are a couple of things off the top of my head that I would like to do to it.) Meanwhile, it is livable and would be a cheap roof over my head when my best friend and I move back to Texas. Ultimate goal would be to fix it up and rent it out. In what conditions do you think it would be a good idea to jump in and take it on? Are property taxes something I can bargain with the city? Any questions, advice or input is helpful.