All Forum Posts by: Gary Hurst

Did you just see what happened? If you asked 5 tax preparers they would also give you 5 different answers. We as a group of Real Estate Professionals should get behind and support the FairTax.org. This Tax situation is ridiculous!

Yes they have been notified. But, at least I'm sure that they would have to repay the taxes plus 25% interest in the first year and 50% after that. Thanks

Heading to my local county tax sale here in texas tomorrow. I've done my due diligence but have a question. There is a mortgage on the property. If I purchase the property here in Texas will the mortgage company come for me to pay note?

I do believe that first they would have to pay me the the amount I paid for taxes and interest first. Thanks

What a great question. It truly does depend on your income or cash available.

I started by taking all my money out of the IRA and paid cash for a property and now my banker allows us to utilize that as collateral. We also have to come up with 25% down each time. But, I will never flip. Love the buy and hold for cash flow, cash flow! If buying a property a year is good for you, you can owner occupy and get loans at 95-100% and at a lower interest rate. Sounds like though you want to go faster like us. Good luck

I have an amazing local banker that mentors us and finances our properties.

However, we rarely get a note over 10 years and some of ours are 5 yr notes.

We still cash flow but very little. I like it because it will be paid off sooner but keep hearing we need cash flow, cash flow. Any Suggestions? Thanks

Why limit yourself? I love this saying because it is so true.

OUTFLOW = INFLOW, the more you go out and search the more that will come.

I look at about 8 different web sites some overlap, and I have 6 realtors that send me listings from time to time. I also go to my county tax sale site. I never counted but I bet I look at 50 houses before I bid on one. And I bet I bid on 10 before I actually win one. Good luck

Are you considering Owner Occupied? Otherwise yes brokers, local banks are your best bet. Probably will require 25% down depending on the quality of the real estate. Good luck.

Done

Texas Rocks! There are going to be a lot of Millionaires created. Prices are low, rents are high and over a 1,000 people a DAY are coming to Texas. Only thing I dont like on your sale is the 30% capital gains support the [REMOVED]

I would never work with anyone that has not accomplished what I am trying to accomplish. Because that means they do not know how to get there. Good luck