All Forum Posts by: David Church

David Church has started 32 posts and replied 44 times.

🏡 Wholesale Deal – Lindale, TX 🏡
💥 3 bed / 2 bath | ~1,600 sq ft

📍 Quiet neighborhood in the heart of Lindale
🔧 Rehab estimate: $15K – $20K (cosmetics + minor updates)
📈 PropStream ARV: $243K
💰 Asking: $170K – priced for a quick close!

Numbers at a glance
• Potential spread: ~$53K+
• Cash-on-cash returns that make the calculator smile 😊

✅ Clear title
✅ Vacant at close – start your reno on Day 1
✅ End buyers / cash or hard-money only (no daisy-chains, please)

DM if interested for more info.

0 Votes

Tyler, Texas

Quote from @Don Konipol:

Quote from @Jay Hinrichs:

Quote from @Don Konipol:

Quote from @David Church:

Just wanted to share a quick win — and break down how we recovered over $20,000 for a family who didn’t even know they were owed a dime.

Here’s what happened 👇

✅ We spotted the surplus opportunity — buried in auction records
✅ We did our due diligence and got the deal under contract
✅ Our legal team went to work… and a few months later?
Boom. Three checks arrived.

Most people think this kind of deal is rare or impossible.

But the truth is — it happens every single day in the world of surplus funds. The problem is, most people don’t know how to find these cases, much less close them. Not letting me uploaded images - not sure why.

David, was this a sheriff or tax foreclosure sale in which the winning bid \was for more than the taxes or lien owed and the person being foreclosed on did not apply for the overage?

most states have totally cracked down on this business model.. Joe Kaiser kind of ruined it for everyone when the WA AG took him to the wood shed.. Don were I see overages is in real property tax sales. If its mortgage or Trustee I believe the overage will be mailed to the folks that lost it.. I get what he is saying the folks did not know and he got them to sign over their rights.. But most trustees and foreclosure companies know this and are quite reluctant to do that.. And the tax collectors are really cracking down on it.. And some simply allow it but put a very low minimum fee that can be charged.

About 15 years ago I made a loan on some property and accepted “additional” collateral in the way of some lots in which I didn’t put much credit as they had some government liens so I was not in 1st position. Ended up foreclosing on the properties and the main property sold at foreclosure auction for enough to make me whole. I hadn’t bothered foreclosing on the lots as I didn’t believe they had any “net” value.
A year later the lots are put up for property tax sale. Since these aren’t residential homestead there’s no redemption period for the owner. I didn’t think much of it until my attorney (as trustee) is informed that it sold at tax auction and there was a $36,000 “overage” that I’m due. My attorney signs the proper forms and I collect the $36k in about 3 weeks.
A couple of months later I get a call from a guy who tells me he “wants his money back”. He identifies himself as the person who paid $36k over the property tax amount and says he’s been swindled. Went onto say that he thought the lots had houses on them; it wasn’t until two day before he found out they were empty lots. When I ask him why he thinks I owe him for his stupidity, he says “to be fair”. I tell him that the thought he was buying 3 houses worth a total of $675,000 in a tax foreclosure for $50k - did he think he was being “fair” to the person that lost the property in foreclosure? He then listed everyone he was going to sue - Ted Thomas whose book on tax liens he read; the county assessor, the county tax district, the school tax district, the attorneys handling he foreclosure sale, the previous property owner, the bank where his checking account was located, and of course me. ( I never heard from him again), however, he did engage an attorney (one I knew) who told him he had no case, but if he fronted a non refundable retainer of $15k he’d file a “losing” lawsuit.

Jay I never ask anyone for money. I make that clear to them.

0 Votes

Virginia Beach, Virginia

Quote from @Jay Hinrichs:

Quote from @Don Konipol:

Quote from @David Church:

Just wanted to share a quick win — and break down how we recovered over $20,000 for a family who didn’t even know they were owed a dime.

Here’s what happened 👇

Most people think this kind of deal is rare or impossible.

David, was this a sheriff or tax foreclosure sale in which the winning bid \was for more than the taxes or lien owed and the person being foreclosed on did not apply for the overage?

Hey Jay I have seen this in some areas but not must. Interesting.

0 Votes

Virginia Beach, Virginia

Quote from @Ned Carey:

@David Church I don't talk about them because they are basically illegal in MD.

If I took enough of a cut to make it worth my while it would be frowned upon as taking advantage of someone when they are down.

Hey Ned sorry to hear about that. We work several states.

0 Votes

Virginia Beach, Virginia

Quote from @Don Konipol:

Quote from @David Church:

Just wanted to share a quick win — and break down how we recovered over $20,000 for a family who didn’t even know they were owed a dime.

Here’s what happened 👇

Most people think this kind of deal is rare or impossible.

David, was this a sheriff or tax foreclosure sale in which the winning bid \was for more than the taxes or lien owed and the person being foreclosed on did not apply for the overage?

Hey Don it was a mortgage foreclosure. We had a silent second show up, luckily there was still $18K of surplus available.

1 Vote

Virginia Beach, Virginia

Just wanted to share a quick win — and break down how we recovered over $20,000 for a family who didn’t even know they were owed a dime.

Here’s what happened 👇

Most people think this kind of deal is rare or impossible.

1 Vote

Virginia Beach, Virginia

Wholesale Deal DFW
$270K ARV
Asking $185K
Title open through Ticor Title
Needs updating & repairs
$270K sales price
- $18,900 (7%) agent fees & taxes
$251,100
- $30K repairs
$221,100
- $185K asking price
$36,100 equity

Pictures are available if you DM me or reply to this message if you are interested. Looking for an EMD to go to title to hold the project. Closing date is set for 3/31/2024.

Contact me on Bigger Pockets with your contact info if interested. End buyers only.

0 Votes

Dallas, Texas

Yes

0 Votes

Looking for JV Partner in Cypress, CA (very hot neighborhood with A++ school district)

If interested text me at number below or scheduele a call with me & I will call you

David Church
949-371-5427

Details:
$1,040,000.00 Sales prices
-52,000.00 taxes & agent fees

$988,000.00
-60,000.00 rehab

$928,000.00
-43,000 loan fees (ouch)

$885,000.00
-20,000 (mis overhead)

$865,000.00
-10,000.00 (rehab error allowance)

$855,000.00
-$735,000.00 purchase price

$120,000 equity split

My last rehab is currently listed:

https://www.redfin.com/CA/LAGUNA-WOODS/4026-CALLE-SONORA-ESTE-92637/unit-2D/home/5466159

Check out some other rehbas
http://www.jdvista.com

Check out video of house

https://youtu.be/Wmsi9abC-y4

Same contractors that did Laguna Woods will do this project
Rehab will be completed 4 weeks
Should be completed with project within 4 months

See contact info above

0 Votes

I have a properth that I want to turn into an airbnb

Looking for a partner

I own the property

Looking for $50K for 1/2 equity in this project

David

949-371-5427

0 Votes

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All Forum Posts by: David Church

David Church has started 32 posts and replied 44 times.

Post: Wholesale Deal Lindale, TX

Post: Deal from surplus funds on VA Foreclosure

Post: Deal from surplus funds on VA Foreclosure

Post: Deal from surplus funds on VA Foreclosure

Post: Deal from surplus funds on VA Foreclosure

Post: Deal from surplus funds on VA Foreclosure

Post: Wholesale Property in DFW

Post: Looking for JV Partner in Cypress

Post: Looking for JV Partner in Cypress

Post: North County Real Estate Meet Up - Air Bnb, Flips, Long Term,