All Forum Posts by: Dale Thomas

Cathy,

Welcome to BP from a fellow Arkansan!

Dale

Welcome to BP from a fellow Arkansan! 

#1 Get yourself a good attorney.

#2 Sacrifice/Budget and save every penny. You NEED cash. I don't care what they say!

#3 Educate yourself (keep doing this...and keep doing this)

#4 Start in a small geographical area and research it until you feel very comfortable. Try to know every deal that goes on it that area. Then move out from there.

#5 Never stop. Make it happen.

Good luck with all of your investing!

Dale

@Hillary Bell,

Welcome to BP from a fellow Arkansan! Make sure to check out the webinars and the forums. They are FULL of great information. 

Good luck with all of your investing!

Dale

Welcome to BP Vic! Good to have another fellow Arkansan onboard!

Well done Mr. Drew!

Really happy for your success! 

My search just got a little more fierce! 

I agree with both Charlie and Micheal. A best course of action may be structuring the deal with the contingencies of a new survey and some kind of settlement with the neighbor. 

Some of the best deals in real estate are the ones which require a little extra work...or a really great lawyer!

Good luck!

Disclaimer: As I am new to this site, I don't know if Bigger Pockets has a general disclaimer concerning giving advice but let me just say this...anytime you are dealing in matters of title to real property you should consult an attorney. I am not attorney so please do not take my advice and use it for making decisions concerning your purchases or investments.

When you purchase a tax delinquent property from the COSL you do not get clear title. It states that on their website. What you get from the commissioner is a Limited Warranty Deed conveying the states interest only in that property to you. As far as I know, neither the auction action nor the deed extinguishes any other liens or encumbrances on that property.

If you choose to seek unclouded title in a timely manner you will have file a Quiet Title action. Otherwise you will be holding that property for some number of years before you are able to sell the property with title insurance. 

Chip, 

I could write a book on tax delinquent properties in Arkansas but I'm traveling right now.

The very first thing you need to do is go to the COSL website (www.cosl.org) and read it top to bottom. When I get back home I will post more information here.

Dale

I'm not quitting my day job!   Not 'til this thing rollin'!  :)

Thank you Robert! Looks like you have already got the ball rolling with your real estate investing. All the best of luck to you! WPS!!!