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Do what will make you happy man, don't ever let someone else tell you your dreams are stupid.

You could also look into the steel buildings, kind of like warehouse style - http://www.rhinobldg.com/steel-building-specials.htm

I feel that far too many people do the 'mainstream' thing not because it makes them happy but because its what everyone tells them they should do.

Just remember that what you want to do now may change as you get older.

Best of luck to you with whatever you decide upon.

-Martin

Nah, I havn't bought any courses, What I have found out is all from reading the NM state statutes and from the NM Department of Taxation and Revenue's website.

I don't really trust the idea of buying a course from someone who claims to be a investing genius. If someone made so much money from investing why would they need to sell a program teaching others how to do it? It seems to me that if someone that wealthy and smart truely wanted to help others they would do it for free, or at least just write a a book and charge a reasonable amount for it. (Just my feelings, no offense intended to anyone who might be selling a program like this)

I started a post in the Tax Leins forum about NM tax deeds if you are interested:

http://forums.biggerpockets.com/viewtopic.php?t=7924

-Martin

It is definatly different from state to state, I think New Mexico is theo nly state that does it this way.

I will have to check with a title company as you suggested to see if they recognize a quit claim as an ownership transfer.

research is definatly going to be a must for each property.

I think that if proper research is conducted and I can verify that a full title can be obtained with the quit claim NM might not be a bad place to purchase because there may not be much competition at the auction due to the fact that most investors will run at first glance of the laws surrounding it.

Or maybe NM just sucks for RE investing and I will drive down to Texas and check that out. (I'm about 1.5 hours away from the border.)

-Martin

I'm not sure what you mean by quiet auction, if you wouldn't mind explaining that to me I would be very appreciative.

Also a quote from the Taxation & Revenue Department of NM:

Q: If a buyer purchases a property through tax sale, are all other existing liens against that property extinguished at that time?

A: A sale properly made under the provisions of Section 7-38-67 NMSA 1978 constitutes full payment of all delinquent taxes, penalties and interest that are a lien against the property at the time of sale, and the sale extinguishes this lien. No other liens are extinguished.

-Martin

Hello everyone! I am looking into purchasing tax deed here in southern New Mexico. I have read the state statutes (reading state statutes is boring i must say) that pertain to this and have a pretty good understanding of the process. I just have a few questions:

In NM there is no redeption period for previous owners, however when you purchase the tax deed all other mortgages, liens, and any other burden on the deed are not removed, so you end up with them. So I think much title research is needed.

My real question is inregards to the actual deed. It is transfered via a quitclaim deed. Anyone know what would have to be done for my to get a full title of the property with the quitclaim? I assume I would have to ensure there were no other interest in the property, but other than that I am not sure.

All comments/help are greatly appreicated!

-Martin

Hello everyone! I am a new member to the forum and a new member to the ranks of real estate investors.

Well I guess I wouldn't call myself and investor just yet as i havn't purchased anything before! But I am hopeing to change that this year.

My main interest right now is tax deeds as in NM there is no redemption period for the previous owner. I do have some question about the process but will post in the appropriate forum on that.

Anyone else in NM here? I could sure use some guidance!

Anyhow, just wanted to do a quick "hello" and let everyone know how excited I am!

-Martin