All Forum Posts by: Boyd McClean

Can anyone recommend assignment friendly title company?

You all have valid points. We have to get the November election behind us.

Look at Lumber Futures they have been dropping for the last 90 days.

Since Feb 18 they have dropped over a $100 a contract.

Futures Huh. Yes, I know very foreign. That is why they call them futures.

If you are a DH Horton or a Home Depot and you have seen that kind of drop

would that tell you something?

#RickPozos Well put.

@Gabriel Cardus

You need to assess the risks of both types of investments. This takes time.

Check state laws. Some states do have redemption periods. The length of time depends on whether the owner lived in the house with homestead rights.

If you win at auction most title companies will not issue title insurance for 2+ years. There are a few title companies that will issue title insurance. I just had a title policy issued on a tax sale property that was less than 2 years for $1,600 in Texas. Quiet title takes longer and costs more and then you have to apply for title insurance.

Not all liens are wiped out. Medicare liens, as well as State Hospital liens in Texas, are not wiped out. In some cases, Medicare will negotiate.

Pick houses that are up for tax sale and go door knocking. Face to face will get you better results than direct mail. Check tax bill to see who owns the property. You will pay more at an auction because of competition than one on one with the owner.

Depending on the local there maybe utility bills attached to the property that convey with title transfer. The above property I had to pay lawnmower fees recorded as a lien that was not discharged at the sale. But I knew that ahead of time. Go to the courthouse and pull the file for the tax sale and see if all parties that have liens against the property have been legally served about the sale. If not the sale can be voided.

Do you have a formal presentation made up to present to investors?

There are many private investors out there with money but you have to be

prepared with a presentation that is transparent.

Go to local REI stand up tell of your need and you will get people who will be interested

but be prepared first.

Created 5 notes so far this year.

Suggestion. Market to holders of IRA's in Georga. Interest will be a couple of points above market but funding is clean and smooth. Many owners of IRA's would be happy with 6% rather than 1/2% in a CD.

Many homes in SATX have foundation issues. Make sure you do not have any. If you do the City has a long process including hiring an independent party (engineering) to verify the integrity of work done. I bought a vacant house did not know about foundation issues then when I did I sold immediately because of the cost involved. Could have been an expensive lesson. @Jim Cummings is right in checking with Planning and Permits. Also, check with FEMA to make sure it is not in a flood zone. When you check read the amendments. FEMA has recently reclassified many areas in SATX flood zones that previously were not. Another way is to ask your insurance agent when giving the address is it in a flood zone? Good luck.

What is your tolerance for risk and how much control do you want over what you invest. If you invest in stocks you have no say so as to what the company does. Also, do you want tax free income? Also, you need to take what investments you know have. In the latest tax bill, there is a great opportunity in what is called Opportunity Zones. If handled properly you can save much on taxes.