All Forum Posts by: Kelvin Washington

How convoluted are the rules in Texas (a couple of examples, please)? I want to get a good ROI without tying up a large sum of cash over a long redemption period. I'm looking at leaning more toward certificates than deeds to begin with, then transition into both deeds and TLCs. Any suggestions on any states that are pretty easy to deal with, coupled with a decent ROI?

Thanks!

Hi Jerry,
And welcome to the family. I was introduced to the Tax Lien/Deed business a couple of months ago, and I am very interested in investing in them. I currently live in GA (hybrid state w/20% interest@1 year and 45 days redemption period) and I have researched purchasing Tax Deeds in my county (Clayton), plus the counties in the surrounding area. I would love to get more insight and information from an expert like yourself. If at all possible, do you mind sharing your knowledge? By the way...I'm contemplating moving to Texas (25% interest per 6 months or 2 year redemption period)in March-April.

Thanks!

Here is a photo of the house that I made mention of at the beginning of this post.

Thanks Michael

How do I upload a photo into my reply post? I want to post a photo of the house that I made reference to earlier in this post.

Nice to meet you also, Michael.
Thanks for your input. I'm not going to attempt this one...too risky for my blood! As previously stated, I personally know the owner and I just wanted to get an analysis from some of the veteran investors in this forum. You guys are always open to provide advice and solutions on almost any type of deal. I am really appreciative of so much free information.

@Jon, I must agree with you in regards to those that may be naive enough to jump on this one...not the kid!!

You guys are the best!!

@Jon, the COMPS came from Trulia.com.
@Rob, the house is not in a low income area...a very nice subdivision. Also, I'm pretty new to anything outside of buying and holding. How would one go about setting up owner financing, then flipping the contract? I've known the owner since 2006.

Hello everyone!
Hope you all are having a Happy New Year.

I want to know what strategy(if any) anyone would use in this situation:

The owner of a SFR has just moved from GA to VA about 2 weeks ago(job related move). The owner doesn't want to have anything else to do with the property at all. The owner also paid November's mortgage payment, but not December's... can't afford to pay rent in VA, plus a mortgage in GA. The owner also informed me that letting it go into default and filing for bankruptcy maybe the end result. Lastly, the property is not on the MLS, and the owner tried to do a Short Sale, but the bank didn't want to play ball.

Owes: $188,900
County records:
4BR/3BA (there are actually 5 Bedrooms)
1,956 sq ft (is more than that...approx 2,300-2,500)
Built in 2006
FMV: $156,683
APV: $133,000
COMPS: High ($92,000) Low ($62,500) all based on 4BR/2.5BA

The house is huge! I've been in it several times. I think that it is bigger than 2,500 sq/ft. Huge back yard w/deck.

Question: is there any potential for any type of a deal here based, on the info that I provided?

Is there a way to upload a photo? I have a photo of the property.

Thanks for any comments/suggestions!

@Brian, I may have to try that technique also...couldn't hurt!
@Dale, I will be on the lookout for that spreadsheet. Thank you, to you both for providing insight and information.

George, thanks for the link.

Hello everyone! I'm pretty new to wholesaling properties and I'm looking for effective and possibly cost effective strategies for finding motivated sellers. I've heard of using Melissa Data to find absentee owners, but the cost is pretty expensive. I'm slowly, but surely building my buyers list via cold calling ads on Craigslist. Any ideas would be very much appreciated.