All Forum Posts by: Cody Wirz

I am closing on a property from Hubzu tomorrow (in Dallas, TX).  While their title company Premiere Title (PTS) has been easy to work with for me, I still get a fly-by-night company feel from them.  I am nervous about sending a wire transfer to them in that it may go into someone's pockets and I have nothing.  However, I have read in this forum and site like Yelp, that while communication is poor that in the end they always come through and people get the house that purchased from Hubzu.com.  They used Westcor Land Title Insurance, but when I call them, they say I need to talk to Altisource if I haven't closed yet.   In the end my question is ultimately....Has anyone heard of them running scam and not getting the property after wire transfer? Or does anyone have a success story in the Dallas area that used Premiere Title (PTS) and used Westcor?

Thank you both.  It seems like electricity is a good sign of occupied or not.  I drove by today and did not see any lights so hopefully they are gone.  I think I will proceed with a 24 notice once I close, then enter the property.  I think filing an eviction will be good to be on the safe side, if I can find out who lived there!  Thank again. 

I am in the process of purchasing a foreclosure.  The bank says it is still occupied, however it appears to be vacant.  Once I completed the purchase can I enter the property if I think it is vacant or do I have to go through the formal eviction process?  I am leaning toward going in and seeing if there any signs of an occupant, but to also start the official eviction process.  Any advice?  If it is vacant do I as the new owner have the right to start a rehab or do I have to legally ensure occupant is evicted before I can enter the property?  The property is in Texas.  

There are obviously a lot of marketing choices, but which one in your experience gets the best return rate?  I am considering a massive door hanger campaign 10k for first three weeks to same houses, then once a month after that, but is it worth it?  It seems that I can get more door hangers placed for less than sending postcards.   Anyone have experience with door hanger campaigns, or should I settle with the "easier" and guaranteed delivery of postcards?  I do have targeted neighborhoods.  Another question, is this type of marketing more effective for realtors getting clients or investors buying/selling? Any input/experiences?   

OR Should I leave the marketing to the wholesalers and take smaller margin buying from them?

Thanks for all of the responses so far. 

Anthony, that is my feeling as the moment.  I think the buyers just want to know what the cost of repairs is and they would open to a credit or pay themselves. They just need to know if it is $3k or $10k to make a decision.

Rocky - I hope it isn't more than one.  Who did you use to fix the leak (PM me if you want)?  I was quoted $4k for the first 5 ft to tunnel.  

Todd - It the pipes are PVC then I would feel more comfortable with a pressure test.  I'll have to verify with the plumber if that is the case.  Thanks!

Any other suggestions from anyone else, I am open to it.  My biggest concern is the test will cause issue with the pipes since sewer pipes aren't built to be pressurized.  Anyone have first hand experience with pressure testing sewer lines?  

I recently bought and fixed up a home that was built in 1986 in Dallas, Texas.  The buyer had an inspection where everything was good except they went above and beyond and did sewer line leak test.  There were no red flags to do this test, the buyer is just very thorough.  The test came back that there was a leak, but not one that would impact everyday usage.  Here is exactly what the report said, "

What should I do here?  The buyer wants to proceed, but wants me to locate exact point of leak.  I would be ok with this, but I have heard that doing pressurized tests on sewer lines, especially in older homes, is NOT recommend and could cause issues with the pipe.  There is no other signs of leak or impact of a leak, even the plumbing company said it likely a non-issue, but yes there is a leak.  Opinions?  Recommendations?  

I'm looking for what probably everyone else is: single family, downtown Dallas area up to Celina and all surrounding areas....I'm willing to take on very distressed properties. I'm open to all "deals", as I do my own due dilligence.  I'm basically just looking for other sources.  Wholesale is fine with me (better than nothing).  I can go the direct mail route, but I didn't really want to go there....yet.

Any suggestions on wholesalers in the area that anyone has had success with?

What are the best lead sources to get a rehab to flip (Dallas area)? I am still new to flipping but I have had luck in having my first two deals "fall into my lap". Now I am actively looking for property to rehab/flip, but I can't find ANY distressed properties to rehab. I have reached out to realtors I know, recently signed on for wholesalers newsletter, checked MLS (REO prices are almost market price!), and had no luck at the most recent courthouse steps county auction. Where are other sources I can find good leads? Thanks for any input.