All Forum Posts by: Christina Brooks

Thanks for the welcomes! My first deals were not much. The first one was a HUD house purchased that I purchased with 50% financing and the other half was given to me by my mom. It didn't reguire more than $1300 worth of work and I had a renter lined up before I even closed. The same renter is still there.

The second deal was purchased with cash from my savings (cleaned it out) but it required about $20K worth of work. This property was my first real rehab. I wasn't prepared for such an extensive rehab and ended up maxing out credit cards to complete it. It turned out great and is occupied.

My most recent deal is an owner financed deal that I'm happy about but it was not without lessons learned (quit claim deed stuff). The house was less than $20K and will require only btw $4-6K worth of work. Not to bad.

I currently have an offer out on a duplex. I lowballed the offer based on what I learned here about max offer price equal 70% ARV (Thank you BP) and gave them until Friday to respond. We'll see.

The other offer is directly to the owner of a small commercial building. I don't have much hope for this deal as the owner is uncomfortable with owner financing and I have only a fourth of the asking price in cash. I decided to take a chance and ask. What's the worst they can say right?

So as you can see I am all over the place right now and still in the learning phase. I am looking to mostly buy and hold but would like to flip once or twice just to earn capital to contiue to buy and hold. I'm also interested in tax liens (wow you can really get a property just by paying someone's delinquint taxes?) but don't know enough about them to take the plunge. More education is required in that area.

So not much of a start but it is a start and I'm certainly happy to be here. I look forward to being a part of the BP community.

Please forgive any typos... my ipad has no spell check apparently.

Hi All,

This is only my second post but I have been lurking and learning on BP for well over a year. In March 2011 I purchased my first rental. Since then I have purchased two more and currently have offers out on two additional. This has been a dream of mine for years (although I really started my real estate daydreaming with owning parking lots) and it seems surreal that I am finally doing it. Since I have come this far as a real estate newbie I decided it was finally time to introduce myself.

Best

Christina

Oh and I checked and fortunately TTS does service my state. Thank you again!

Thank you you for that information.

As far as the quit claim deed, I have talked to him about it and he will not change the deed type. Based on what I understand now is that he is the middle man. He helps his clients purchase tax liens and helps them sell them. He does not actually own the tax deed (and is not the one selling it) he is just serving as the go between. I have been to the county courts and all over landaccess.com (where you can look up records of your local county clerk) and I have not found any liens or anything against the property. Also the person who I am buying the property from is the stated owner. If the title search comes back okay I will probably move forward with this deal.I have already submitted my earnest money and am afraid I will loose it. I guess I will have to adjust my strategy with this property (if everything checks out with the title) and instead of selling this property turn it into a rental.

Hi! I am a long time lurker on BP and a newbie in the world of real estate. I currently have three properties that are rented out and am working on my fourth deal now. I found an investor looking to sale his prperty for a great price. Upon further investigation I learned the price is so great because he purchased the property in a tax sale and plans to offer me a quit claim deed (he currently possess the tax deed). When I questioned him about the deed type he said it is clean because it is a tax lien and the county clears titles upon sale. He said if it will make me confortable (which it will) I can purchase title insurance from Tax Title Services (taxtitleservices.com) . I was just wondering if anyone here has used this company and their service and is it what I need to be able to sell this property later?

Thanks for any info you can provide.