All Forum Posts by: Roy Oliphant

@Nick Vickerson

I'd be interested in seeing the numbers as well.  Though my first thought is this appears very over-priced.

@Cody Clapp

Interested to see what responses you get.  I looked into mfg'd houses about one year ago.  Seems that in Texas they are nearly as expensive as site built and you still have issues with inspector and zoning.  I did hear that a recent ruling (applies to DFW area) says that mfg'd houses have to be accepted anywhere they meet the other zoning rules (size, exterior finish, etc.) I need to relook at this.

@Isaac Howell

What's the deal?  Greg has extended a very generous offer and continues to offer his help yet you cannot answer his simple question regarding the disclosure document.  If you did not get this, I for one am interested to hear why it was not provided to help me watch out for similar situations in the future. 

Hope you get this worked out.  Will be watching for updates to see how it goes.

@Ryan Cooper

Tax deed invest can be great!  We big in the Texas area.  It does have significant variations state to state.  One thing I do not yet understand about Georgia is that possession is not immediate.  You make your investment and then have to wait the 13 months before you can begin any process to take the property.

As to why these would be available, the taxes owed may be considerably higher than the current value of the property.  It may have been burnt, vandalized or just badly deteriorated due to lack of maintenance.  Maybe the property is ok but the neighborhood has been lost.

Are there good deals out there?  You betcha.  You need to work with someone who understand the local regulations as well as the market.

Good hunting!

@Donn Yu

Wylie can be a great area.  South end of Lavon can be very flood prone.  You definitely need someone local who can help with the evaluation.  Let me know if you are still open to partnering on it.

@Madeline J.

1) Get rich by doing well (ethical business):

Treat people fairly but hold them accountable.  It doesn't do them or the community any good if you let them think someone will bail them out of every occurrence. 

2) Spend it all by doing good:

Once you have provided for your responsibilities give the excess in a way that promotes what you think is important.  Habitat might be a great way to start giving back something until you reach a point to do something more.  Find out what they need and work towards that.  (For example, donate a lot in a neighborhood you are both working)

Lot's of great suggestions in this thread; separating your profit efforts from your giving efforts, making the effort to learn and use program funds, etc.   The fact that you are asking the question will help you find the path.  Hope you find both success and joy as your travel it.

@Juan Bustos

This is one of the great things about tax sales; they clean up title issues where people didn't do what they were supposed to.  Once the property goes through the tax sale, and the relevant passage of time, the title issues will disappear.  While that doesn't help you before the sale at least the property can be returned to an investable condition.

There are a couple of options depending on the amounts involved and your risk tolerance.  Have one of the sisters talk to the county to see if a partial payment can postpone the sale, then get her to give you an option to buy it for the amount that will postpone the sale and ensure that gets to the county.  Once the sale is postponed, you can pursue getting the title issues cleaned up and making a deal with the other sister.    Yes, you are risking all of the money you put into the deal if you cant get the postponement or if you cant get the other sister to agree to sell to you.  But depending on the dollars, whether you think you can get a good agreement with both sisters and if you sure there isn't another potential heir, it might be worthwhile. 

It's a complicated play and I wouldn't want it to be my first foray.  But with the prices these properties are bringing at the auction it might be something I would attempt. 

Good luck!  Let me know how it goes.

@Luke Mahan

According to the attorney we work with for Alabama, you need to initiate the notice and the time with the state does not count.  Send notices immediately and get he clock started.  And if you don't want to wait, let me know.  We may be interested in purchasing your interest immediately.

@Joe Mclain

Tax properties are unique beasts.  You should consult with someone who knows the rules for the location of the property.  Generally answers from across state lines are not very useful. 

This may be the exception as a Warranty deed will almost always be worth more. It is requirement to get a loan in most cases. How long it takes and what you have to do to obtain it is VERY state specific.

@Esteban Camacho

This is a complex deal both on the acquisition and for the exit strategy.  Old churches can be difficult to move unless repurposed.  That said, the more problems you can solve, the more opportunity you have to add value to the situation.  That's what puts money in your pocket. 

Good luck and good hunting!