All Forum Posts by: Josh James

1910 Home, 3250 sq ft, concrete/plaster walls, 3 story with basement/crawlspace, brick exterior, needs a total rewire. New service, new panel, all of it. 

The house has a lot of historic value. High ceilings, large detailed trim, etc. The rewire job would need to preserve the character of the house.

How much am I looking at spending? Just get me in the ballpark, I understand you can't quote a house you haven't seen.

@Richard D. 

In Texas, statutorily, the redemption period begins from the date the deed is filed, not the date of the sale, see Tax Code 34.21 (a) and 34.21 (e)(1).

This has also been my personal experience when obtaining title insurance. The title company will use the date the deed was filed for record.

@Steve G. Where are you looking to buy or transact?

Thanks for the encouraging words Dev!

I am glad to know you have had the same experience. It was a first for me. I always keep a positive outlook on life, and someone has to try pretty hard to insult me. But it still boggles my mind that he spent no time building rapport. I hate to say it, but he needs more training! 

Has anyone heard of Casanova Worldwide Real Estate L.L.C.? I got a cold call from some guy who didn't identify himself, and just started asking me personal questions about myself and my business. I got the company name by looking up the phone number on Google. This is how the conversation went:

"This is Josh"  <-- That's me!
"Hi, Josh, I heard you are a wholesaler. Are you a wholesaler?"
"Yes, what are you looking for?"
"Well, uh, are you a wholesaler, a rehabber(he may have said fix and flip), or a buy and hold investor?"
"I do all three, why do you want to know?"
"Do you have funds available to buy properties right now?"
"I do, I just bought one today, and I am in contract for another."
"You sound like a young guy, how old are you?"
<this is one of my hot buttons>
"Don't insult me like that."
"I'm just asking a question."
"Well, I'll tell you what, you go first and tell me how old you are."
<click, he hung up on me>

First rule of cold calling, ALWAYS IDENTIFY YOURSELF! (unless you are a scammer... ?) Then what does it matter how old (or young) I am? Why do you need to know how much money I have so much before you even say who you are?

The more I look at it, I think it was a survey or a script. Anyone with similar experience?

In Texas you must hold the stuff for thirty days, but you are not required to hold it in the house. If you have a garage or storage building to put it in, you can do that, but make sure that is the case in PA though.

Is the cat collared and tagged? Make sure you follow any local animal rules. I would probably take it to an animal shelter. If the house is in the condition that you describe, the cat may be better off with someone else. Keep in mind the cat did nothing wrong, and may actually have helped you. Cats are predators and keep bugs, small rodents, and birds away. That means not in the house!

I would not rely on the legal description from the County Appraisal District for a binding contract. Appraisal districts are for taxing purposes, and not for legal matters. I have personally seen too may errors on the CAD.

On the deed to the property, you should be able to find the legal description. If the property is in a town, there will likely be a lot, block and subdivision/addition. If the property is not in town, or is in an area where it is common to have some amount of land with the house, then there is likely surveyor's notes or metes and bounds. 

Edit: properties in Texas are not not legally traded by their address, but by their physical location on the ground. Thereby also transferring whatever may be built or attached to the ground. 

I typically do not put any down when purchasing, unless the seller speaks up about it. Nor do I demand an EMD from buyers, I just want proof of funds or credit. It is up to you really.

@James Jones Welcome to BP!

Tax sales are challenging and can be a lot of fun, but you do need to be well educated. If this will be your first investment, I would steer you away from them though. That said, I also have a BP blog post on the subject.

With the cash you have, or have access to, you could get a good mortgage. 20% down and still have cash for remodel if you bought a property that needs repairs. 

Look for a wholesaler in your desired area. Talk with them and see what they can get you. There are many here on BP. Do you have a neighborhood or town you would like to invest in?

@Ned Carey 

In Texas, we know what it is appraised for because our County Appraisal Districts conduct annual appraisals of all property. I am not sure what you mean by tax assessment? I do not think we have those. Harris CAD has a nice FAQ on it. http://www.hcad.org/resources/propTaxProcess.asp

In Wichita Falls, where I think @Matt Ellis is marketing, the tax appraisal is a pretty good guess of the retail sale price of non-distressed properties. 

@Rick H.In marketing, we cast a large net, and sometimes we catch things we aren't fishing for. I think he is trying to find a good use for all the "throw-back" in his catch. I also do not have a good productive use of my not-so-motivated-seller leads. They go in the trash now. Do you have any good suggestions? What do you do with yours?