All Forum Posts by: John Lucero

Thanks for your input. So as long as you dont over bid and are able to sell the properly quickly there is really not many more mistakes one could make correct? As far as gettting the title cleared to resell is there any information or things to avoid? My main concern is not being able to sell the property for whatever reason be it the title or not being able to legally evict the residents.... Have you personally ever run into title clearing issues?

Hello everybody i finally managed to gather enough capital to finally venture into some texas tax deed deals and was wondering what types of pit falls anyone has run into. I've read and researched as much as i possible could but before i actually head down is there any advice or things to be avoided when dealing with these types of deals. I plan to hopefully buy one that isn't homesteaded and obviously do a title search and physically check out the property. I've also read up on the process of doing a quit claim deed once the property is purchased in order to clea the title for resale. Any info or light to be shed on this subject would be greatly appericated, thanks again in advance! :D

Thanks guys every bit of insight helps I do appericate it. I was considering pulling equity on a property in order to fund my venture but I'd rather use as much leverage as possible. From what I've read its a six month redemption period for non-homesteaded homes and two years for homesteaded homes. I figured with a 25% interest rate (if redeemed) even a HML/Private investor would be worth while. If it's not redeemed then I'd have the property refinanced and pay them back so I win reguardless of the outcome. Thanks again guys any finance idea such as G.D.'s helps :D

I was wondering if anybody on here has ever used a hard money lender to finance a texas tax deed sale? Will they even consider it seeing is how there is no actual deed untill the redemption period? I've seen a couple good deals in my county but don't have the capital to keep up with most of the bids that are worth while. Is there any other finace sources besides any equity loan or HML?

Well the inside is a bit old an update would be nice to make it desirable. The pool is empty and the selling agent said everything works it just needs to be cleaned and refilled. My strategy is to buy and hold im assuming that a fix and flip wouldn't work in a timely manner, in this situation, seeing how longs its been on the market for. The way I see it is even renovated wouldn't make enough of a difference to get a seller modivated to purchase it at a profitable price(based on the location aka the busy street). Im assuming the selling agent would provide me with the market value of property? As of now I use zillow but i know that it's hardly ever accurate. Im twenty-two years old and have been reading as much as i can for about the past six months now. Although I dont want to rush into it I feel that its time for me to take the next step soon. I barley stumbled upon here and appericate all the help I can get. Every bit helps.

I recently found a reo thats been listed since nov. of 09 and has been dropped in price twice. Once from 129 to 120 and another last month from 120 to 99. My city cad values it at 154 and the home is located in nice area where other homes average anywhere from 160 to 200. I've checked out the property and contacted the selling agent and nothing seems to be wrong with it besides the fact that its located on a pretty busy street which im assuming is why it hasn't been sold yet. My question is what would be a reasonable offer to make seeing is how its already been dropped twice. I was thinking of low balling around 85. This would be my first investment property and any suggestions/comments would be appericated thanks.