All Forum Posts by: Spencer I.

Callrail might work for you. 

The site has been down for some time now. Over 2 weeks. Has anyone heard of what is going on with Real Acquisitions? 

Maybe I missed the announcement. 

1. No need. 

2. You should have your title company do some preliminary title work to see if anything comes up

3. Yes, if the property is vacant 

4. Check Hcad if designated homestead. No need for insurance as tax auction properties have rules set you and the previous owner must follow

5. You should probably evict instead of setting up new lease. The property will most likely be vacant. 

Like Jeff said, you probably are not ready for the upcoming auction, but hope this helps.  

Also, reading this post will give you more insight https://www.biggerpockets.com/...

 I agree with everyone as that is a good quote. I recently had a house and trailer demolished on a half acre lot for around that price. 

I would try to find a better deal. 

You have to find/negotiate a deal. Know the numbers beforehand while having accurate comps. Make lots solid offers based on your numbers, and when a seller says yes, you've got a deal. Lots of offers means anywhere from 15-50 offers to get a deal. Requires patience, persistence, and ability to take action. Hope this helps. 

I took a look at the report and the ARV is lower than your total projected cost. Ideally, your total projected cost
should be 70-80% of your ARV.  

I am working with a great title company, and would like to do something nice for the ladies in the office. Is it a good idea to buy them lunch for the week, in the form of a gift card? Have you ever done anything nice for your title company? How so? All advise welcome. 

 That is a great way. 

What I have done in the past is have my title company issue a FedEx overnight slip with a return slip back to them, and overnight the purchase contract to the seller. I only do this if the seller does not have email or scanner. As emailing and scanning is the fastest way to get a contract signed with an out of state seller. 

Using the 70% rule 

$90,000 x 70% = $63,000

$63,000 - $3,000 (repairs) = $60,000 

$60,000 - $5,000 (fee) = $55,000 

If your numbers for the ARV and repairs are correct, your offer should be around $55,000 for you to be able to assign your contract to an end buyer. Since the mortgage is $82k, I don't think this would work as a wholesale deal, but may work as an owner finance deal if the seller is willing to owner finance of course.