All Forum Posts by: Daniel Wampler

Hello, my favorite inspector is David Mason of All Pro home inspectors. You should be able to find through a Google search. And I'm a licensed realtor who with investors and am trying to be one myself. 

I've wholesale, short sales, and am in the middle of my first rehab deal.  

Hello Mr. Calvin

I work with Jeff Lange, as my broker, he is an investor himself.  I would recommend speaking with him about your goals and whether or not it would be a good fit for you to place your license with him.

Best wishes!

Hey Guys, I work with investors all the time.  It's my passion.  I am a licensed realtor, if you would like to meet sometime that would be great!  I help my investors with comparable sales on properties that they are interested in buying.  And I have buyers for wholesale deals.  If either of you would like to get together, feel free to contact me.

Larry Toomey at  Toomey and Pilgreen Lawfirm.

Best wishes!

Daniel Wampler

Hello Lonnie

I have a lender in Wichita that will lend on flip properties and they don't require income statements or great credit.  If you are interested private message me and I'll give you further information.

Sincerely

Daniel Wampler

This all depends on the laws in North Carolina and possibly the county the property is in as well. 

The 2nd deal I did in Houston was a tax foreclosure property, and the 1st deal I did completely on my own here in Wichita, KS (Sedgwick county) was also a tax foreclosure.  In other words I have dealt with 2 tax foreclosure properties, so I'm by no means and expert. 

However, this is what I experienced.  At least in Sedgwick county, you can buy before the auction if the owner is cooperative.  Your seller sounds as if he is not, so that means you are going to have to go to the auction and bid on the property.  Since you are not able to access the property, you just have to assume the worst and try to figure your costs of repairs by the worst scenario.  But you don't have to be blind regarding liens, judgements, etc...  Call a title company or a lawyer that does title work.  In Kansas, we close at a title company, I don't know what you do in North Carolina.  But whichever it is, go to them and ask for a preliminary title search.  Title companies here will do it for free!  That will give you the heads up on any other problems, plus you can speak with the closer or lawyer regarding how soon after the sale you can get title insurance, as I understand it is 2 years to sale a property you bought at a tax foreclosure sale, that is according to Kansas Secured Title.  Of course, if you buy it before the sale then it's just like any other sale because you have to bring everything current.  However, when you buy at the tax sale, it's supposed to wipe everything else away, except for IRS liens.  You will need to discuss what your options are once you pull the title and see what's there with the title professional that helped you.

Regarding the actual sale.  NO, you don't have to bid the owed amount.  At least not in Sedgwick county.  I was surprised at what some of the properties went for.  Some were auctioned off at almost full market price.  Maybe some of the bidders weren't investors, maybe they just wanted a home.  I don't know, but there didn't always seem to be any logic.  The opposite happened as well.  Especially in land, a property might have started at $2,500 and absolutely no one would bid on the property.  And then someone would get it for $50.00.  It was usually just an empty lot.   

Your best option when it comes to tax foreclosures or mortgage foreclosure auctions is always to get to the owner/seller before the sale and work out a deal so the property can be removed from the auction.  Then you don't have all the competition, especially, those who have too many dollars and no cents (get it no cents?  Ah, ah, I think I'm funny!) 

Anyway, go to the auction, find out what you will need before going so you are not caught off guard when you get there, already have the price you are willing to pay writing down on a piece of paper.  Don't let anyone else see that paper either.  And then stick to your price and don't go higher than you have allowed yourself.  What's the point of getting a property to just go broke.  It kind of defeats the purpose of investing in real estate!

Anyway, I'm not an expert but I hope that this helps!

Sincerely

Daniel Wampler of Wichita, KS

Hey Steven Butala, thanks a lot for the warm welcome.  

Hey P.J. Hankins, I like your letter and will try using it.  Thanks for sharing.  

Outstanding! I appreciate the contact.  A friend of mine just moved from Wichita to Arizona who was involved in real estate, his name is Tim Zomermaand.  He's a great guy if you ever run into him.

Anyway, keep in touch and let me know how it goes there and I'll be happy to help you in anyway I can when you decide to start moving forward here in Wichita.

Have a great day!

Sincerely

Daniel Wampler

I live in my hometown of Wichita, KS.  However, that's where I started my real estate career.  I was living in Houston, TX and started working in real estate with investors and found my first deal in 2005.  From that point on I was hooked!  I decided to return to Wichita in 2008 and got my realtor license in 2009 and have been involved in real estate ever since.  Currently, I work with Lange Real Estate in South Wichita. I work with traditional buyers and sellers, however, I specialize in working with real estate investors.  

My experience thus far in real estate includes, wholesaling, property management, short sales, and then traditional real estate helping buyers buy and sellers sell.  I still haven't bought my first rental.  I hope to do that this year.  

I look forward to hearing from anyone in Wichita, or anyone interested in investing in the Wichita area.