All Forum Posts by: Kyle Zochert

Thanks for the info everyone.  So, I did not purchase any properties at the tax sale.  All in it was a good time, but I just couldn't believe what these people were paying for the properties, let alone the issues that you all brought up here, city fees, previous owner notifications, and land locked locations.  My impression was that a lot of these people were dabblers, if not, I would love to know how they make money off these because I have no clue.

The properties that I did want to purchase were "hot" deals that either had a minimum bid that was higher than my max, or were bid up beyond my means.  Mainly raw land with utilities already on site, or properties that have been vacant for 10+ years, that would be a 50/50 on demo or rehab.

The other fun fact that I learned at the sale:  the tax foreclosure only wipes out the tax included in the judgement years.

Hi Guys - 

Anyone going to the the Bexar County Tax Sale tomorrow? 

I've been doing due diligence on a few properties that I've targeted.  I pulled the recorded liens against the properties, most of which relate to 1) City of San Antonio fines for mowing and demolition, and 2) Vendor's Liens.

Two questions for the BP Community:  

1) Are the City fines extinguished at tax sale?  I probably wouldn't care as much if they didn't compound interest at 10+ percent!

2) Are Vendor Mechanic's Liens extinguished at tax sale?  The liens start out at $5-6,000 dating anywhere from the 1970's to late 1990's, and usually bear interest at 10-14%.  

I've been reviewing the Bexar County Clerk's website, and man...I just can't tell if they've been repaid, cancelled, extinguished etc.  Other than a website at $150 a title search pop, what can I do to make sure I don't buy a tax sale where I'm shelling out money to pay for unforeseen lien?

Thanks guys,

Kyle

I actually just called SAWS and CPS about this last week.  The comments above are consistent with CPS

Regarding water and waste water with SAWS, if the lot has never had utilities then you'll need a impact fees, which they said will run roughly $7,500 just for the "fee fees", then you'll need permits plus installation costs, for that you'll need to find a SAWS approved installer.  

I would give her cash for keys, depending on the rent amount maybe $200.  So offer her $200 to move out by a specific date, one to two weeks.  And depending on your feeling, simultaneously file an eviction in case she doesn't move.

You're going to spend at least 1 month, plus $400-ish start to finish on the eviction.

I would NOT renew the lease in any shape or form.  

+1 on this request.  I have used several people but I have not found tree service that I am in love with.

That being said, in San Antonio, I have phenomenal Fence, Granite, and Electrical guys at a great price if anyone needs.

Hi Guys - 

I have a deal under contract in the Denver Heights neighborhood of San Antonio, Texas.  I was going to buy the house as a cash deal three months ago, but there were federal tax lien problems that needed to be resolved.  Long story short, I invested the money elsewhere, now I'm left figuring if the house is worth on a hard money loan.

The purchase price is $60,000, for a 3/2, 1700 sqft. (including a 425 sqft. second story loft.  The layout is a little funky and it needs a little bit of everything: foundation, electrical, plumbing, and roof.  All in I am probably looking at $34k in repairs.  I could potentially convert to a 4/2 or a 5/2 with the loft.  Those are the "knowns" if you will.  

Here are the unknowns: I am guessing the rents will come in at $1,000-$1,100, and maybe an ARV of $100,000-$115,000. Prices have been increasing in the neighborhood, but I don't really know if I'm better off sitting this one out or what.

Does anyone have experience in the Denver Heights neighborhood or East-Side San Antonio that could shed some light on whether this is a good area for appreciation or let me know if my numbers are off?

Thanks for the help,

Kyle

Hi Everyone - 

I'm new to Bigger Pockets and wanted to send out an introduction.  I have been investing in real estate as a part-time hobby for the last 11 years now.  My strategy has been to buy and hold in up-and-coming neighborhoods before they get too much attention.  The first half of my real estate investing was in the East-side of Austin, Texas (my hometown).  

Now that the prices no longer work in Austin, I have turned to the San Antonio market.  My first two purchases were in blue-collar suburbs of the Kirby/Northeast area, but the charm of the older buildings in the downtown and surrounding areas have made me focus on rehabilitating these older homes.

I have a few deals in the pipeline and will definitely be seeking the community's advice in the near future.

Thanks,

Kyle