All Forum Posts by: Charles Morgan

That does seem like a lot for late fees but we don't know how much the original rent is. I also have a renter who pays every two weeks, I did what @Michaela G. suggested.

@Maxwell Lee Don't give up yet. I had an offer rejected for a higher and they ended up coming back later because the previous offer fell through.

@Peter Lambert Well, it's been a while? Any update? Hopefully things improved. He could sell and buy a house in El Paso with that much equity. $80K will get you a decent place here with land for his equipment, all he would have to do is pay taxes and utilities.

I know this thread is a bit old but, Lots of info is linked to in the thread below.

http://www.biggerpockets.com/forums/41/topics/68977-foreclosure-auction-sheriff-sale-and-trustee-sale-faq

Hi Jeremy. One big Gotcha is liens, suites, and other encumbrances. Ok, technically more than one Gotcha. The ones that went to a big number are the ones that someone felt were free enough from "Gotcha's" to bid on.

Just found this thread:

http://www.biggerpockets.com/forums/41/topics/32392-buying-at-foreclosure-is-easy-

I do not have an LLC yet, but probably should. I own 3 SFR, (technically 4 1/2), I just haven't transferred one over to my son yet and the other is half owned by a partner who is living in it. This does leave me pretty open, and I am not happy with it.

@Josh James it looks like you are based in Texas, do you have any experience with the Deferrals?

I hate to see a house sit empty like that, you would think there is something that can be done.

It looks like a deferral on the taxes was granted (age or disability) to stop delinquent collection on the property taxes. If I found her (alive) and bought it, I wonder if the back taxes would be dropped or if I would then become liable for them. If she's dead it would probably become an inheritance issue. Looks like it's time to find a shark lawyer familiar with tax law here.

@Josh James According to all the public records I could find, it looks like the person it was deeded to in 1993 still owns it, I have not found a death record for her but that does not mean she hasn't moved and died. The county is still charging taxes to her with an "Over 65" exemption but does not seem to be pursuing foreclosure, strange stuff.

Thanks @Jerry K. We had one similar to that around here, lake built, lots sold, not enough sales and the place went bankrupt. By the way, if anyone wants to buy an entire lake, we have one for sale around here in Anthony Texas. It's called Rainbow Lake.