All Forum Posts by: Roy Oliphant

I need pics of a property in Mobile, Alabama.  Please PM me if interested.

@Kevin Campbell

Worst part of this deal for me is "girlfriend" wants to by it.  Ask yourself if you would you do if she wasn't your GF? 

@Tom Camarda

Check with the Texas Secretary of State office regarding registering a foreign business in the state.  Once you do that you should be able to get an account at a local bank.  Texas does not have an income tax but does have "franchise tax" that affect businesses with certain levels of income. 

@Regina James @Fred Heller

http://trec.state.tx.us/formslawscontracts/forms/f...

This is a TREC site not a TAR site.  Since it is a state site, I do not believe it can be restricted to the Realtor(tm) organization.

@Michael M.

You are in Littleton and you want to wholesale in Birmingham via partnering?  Can you tell me what you bring to the deal that might make this work? 

We are investing in Birmingham as we think it is a good cash-flow market.  But I'd like to understand more about your model.

Hi @Sallie Lardy

Bigger Pockets should be a real help to you. There is a wealth of information in the podcasts and forums about any sort of RE topic. Certainly lookup the local REI meetings and try more than one.

Goal -> Strategy -> Plan -> Action -> Goal

@James T.

You need to get professional tax help with this.  It is a complex question probably based on how you handle the relevant lien.  If you hold the lien for capital gains, it might be included in your base cost.  If you flip the lien quickly then it may be an expense against your regular income.  Either way, due to the magnitude of the underlying question (tax compliance, not $10) you certainly want to ensure it is handled correctly.

@Denise Evans

We purchased it from the state and received our deed.  Then got a letter to return the deed and they would refund since the original sale was invalid.  Happened right after we sent out letters in prep of filing Ejectment.  Found out there is probably an unrecorded mortgage that would redeem anyway.  Might even be the same that challenged the sale at the county.  I was just surprised the county overturned it without any notification of proceedings.

@Shawn Hyde

I do not think the lien in FL will give you the right of possession but f you are worried re trouble makers, you might want to acquire any that are outstanding.  If nothing else, you make sure the property doesn't transfer without you being in the loop.  Once the lien matures, you can foreclose on it and obtain a deed. 

Nice strategy to remove a potential easement worry.  And the property would surely be worth more added to your existing acres than it is now.

@Brooks Conkle

And for sure be careful of those where the wrong name is called off.  Just had notice of one that was invalidated because the tax records were never updated when transfer deeds were filed.

@Denise Evans

ADOR notified us our sale was invalid.  Is this usual?  No chance to appeal?