All Forum Posts by: Matt Hogle

@Rick H.  Unfortunately, both of the properties I was interested in bidding on we're cancelled the morning of the auction. Hopefully there will be some more good properties coming up in a few weeks!

I am looking at a rehab deal where 2 houses can be picked up for the cost of back taxes (~25k combined). The downside is that both houses have been vacant for at least 6 years (and possibly up to 10 years),  and need substantial work (roof, foundation, and potentially to the studs remodeling). Both houses are roughly 1500 sf and have ARVs of approx $125k. 

My rough PNL estimate on these houses are 25k each, but I am concerned on what I will find once inside. Just curious what some other rehabers have experienced in long time vacant houses and how far gone a house needs to be before you write it off as not worth the trouble.

Matt

Shevaughn - I would suggest you reach out to DRDA CPA. They are located on Bay Area Blvd near the 24 Hour Fitness.

Hello Bigger Pockets Readers!

I had a few quick questions for you.

Let's say I have purchased a tax deed at the monthly auction (Texas sheriff auction) for a reasonable price on a prospective property I anticipate to not be redeemed during the redemption period. 

- What are my options during the redemption period other than just waiting for the redemption period to expire?

- Is it possible to have the property owner waive their right of redemption (perhaps for financial consideration)?

-How does the quiet-title process usually work?

-What are  some of your experiences with obtaining title to the property, and what have you learned (I want to hear the good, the bad, and the ugly).

Thanks!

Matt

Hello Bigger Pockets!

I am a new member from Houston, TX (League City to be precise), and I am very keen to meet other RE investors in my area.

As a little about myself, I currently own three single family rentals, and have one multi-family under contract. I am currently seeking my first flip, and hope to have it completed (bought, rehabbed, and sold) by June 2014. I work presently work in energy / finance (investment banking and energy trading to be precise), and would love to get into real estate full time in the next five years. Long term, I hope to own 50+ SFR properties and several small multi-family properties, and flip a few houses a year to keep me busy.

I lam excited about all of the connections I can potentially make here on BP, and look forward to the knowledge to be learned by all of the wonderful members here.

Matt H.