All Forum Posts by: Mike Ross

Hello Everyone. I got a lead today from a woman who received a judgement for back due Child Support in the State of Texas. It is set to go to Sheriff's Auction in about a month, but she wants to sell it before hand. The amount of the judgement would make it an incredible deal. She needs the child support ASAP and cannot wait another month for the sale to take place, this is why she called. We are happy to buy, but are confused.

Can she sell this piece of land? A writ of execution has been handed down, and they have chosen to sell this non-exempt property. Has anyone purchased land like this before? We have bought land before it goes to Auction before, but never under these circumstances. On the county website, her ex-husbands name still appears.  I don't believe this is possible, but does anyone know if it is? Thank you for your help!

Hey @Adonijah Short, welcome to BP! I too think its great you are already interest in REI. I do not know about your financial background, but the biggest hurdle for most everyone is access to capital. Starting at an early age like you are I would suggest you get working ASAP. Start saving all you can, and apply for credit as soon as you are able. This is difficult when you are under 18, but if your parents are open to it see if they might co-sign on a credit card - but be responsible!! Great credit will help you in investing and in life.
Utilize BP. Read the forums, guides, and blogs. Find a niche you like and learn, and you will easily get your first unit by 20. What aspects of REI interest you the most?

Mike Ross 

I will echo what others are saying about the potential in Round Rock. The cities/towns north of Austin are all seeing great growth. RR, Cedar Park, and Pflugerville are more favorable for renters and proximity to Austin, but do not forget south. Buda, Kyle, and San Marcos are also seeing expansion. Follow the highways north and south of Austin and you will see the potential is not limited to just one place. Look into the Austin Business Journal, its a big help to learn of expansion plans in the areas mentioned. 

Mike Ross 

Hi Nitin,
    I used Dana Lynch with Austin Title when I bought in RR. Working with her and Austin Title was a great experience in my opinion. I would be happy to make an intro, if you would like you can PM me. Best of luck!

Mike Ross 

Welcome to BP @Thomas McKay! Looking forward to hearing of your success. 

@Dax Gurr Thats a good point, luckily I am close with an agent that is willing to help me pull this together. I would be interested in seeing what one of your data packages looks like; if you're willing to share. I want to be as professional as possible out of the gate as I expect to wholesale a deal or two and realize it doesn't take much to stick out from the guru crowd. Thank you for your suggestions! PM me if you're open to sharing.

@Yasmine Bisumber Thank you for the tips! I am planning on doing this for the BRRR method, although I am going in expecting to wholesale at the start to build up some capital and a better marketing budget. I have contracts at the ready and can't wait to share how it goes, thanks for the positivity!

Hey All,
I've been lurking and learning and finally just decided its time to jump in. After running the numbers on some MLS properties, and absorbing whatever I could from here I sent out a batch of letters from my own driving for dollars efforts. I'm excited for the first calls and feel prepared for them, but I'm worried about the first meetings and negotiations. My concern mostly stems from being ill prepared so I figured you guys are the best ones to ask.
    What were your first few meetings like? What did you forget to do/bring/say? What suggestions do you have for someone in my place? Hoping for calls to start coming soon, and sending out more letters every couple of days. Can't wait to post in other forums with deals! Thank you for your help.

I'm a fan of the craigslist idea, and I guess I'll have to check out HF! The only thing I guess I'll be renting is a jack hammer... Although I'm betting it will be the most fun to use 

Brushy creek is a good spot. I live there and see a high volume being bought and sold. Some things to look out for are high HOA fees, water towers in your back yard, and garages being converted to living areas. Some of these changes were done the right way and look great, but that is not always the case. There are great parks, community center, schools, etc. All great selling points for rentals. I have seen a few sell here around 180 - 200 and rent for 1500 - 1700 with light updates. If you ever want to know more about the area let me know!