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All Forum Posts by: Roy Oliphant

Roy Oliphant has started 15 posts and replied 362 times.

@Michael Ting

I think it depends on what your career goals are.  If you have a desire to leave your current field and manage a real estate business full-time, getting self management experience is a requirement (though when you need to do that is still open for discussion).  If you are just seeing real estate as a good place to invest, there are much easier ways than self-managing. 

Consider passive investing using a turn-key service until there is enough income to transition to full-time investor.  That way you can use your current income to supplement your investing income and achieve your goals faster.

Post: Overseas Investor

Roy OliphantPosted
  • Rockwall, TX
  • Posts 380
  • Votes 211

Welcome!  Hope you look at the Texas market. It is very dynamic and has the strongest economy in the US.  We can always use more investors to help provide the housing that will be needed to double our populating over the next 25 years.

We offer a turn-key program focusing on Tax Sales properties. I am always available if you have any questions about this specific type or REI.

Post: Newbie from Sydney Australia!!

Roy OliphantPosted
  • Rockwall, TX
  • Posts 380
  • Votes 211

 We specialize in turn-key properties primarily through Tax Auctions.  I'm always available if you have any questions regarding how this works in Texas.

Good luck and good hunting!

Hi @Joseph Gozlan is correct.  Texas is a Tax Deed state with redemption rights.  That means you buy the property, not the lien, subject to a right of redemption that the previous owner has for either 180 days or 2 years.  There are some great opportunities in Texas. 

Are you specifically looking for liens or are you interested in Texas?

Dennis:  Good luck in Houston!  That is a real zoo with so many auctions going on concurrently!

Post: El Paso Rental Market

Roy OliphantPosted
  • Rockwall, TX
  • Posts 380
  • Votes 211

Hi @Cynthia Ortiz,

Texas is a great place to live and invest as attested to by the number of Californians (at least there jobs) that are moving here.  El Paso is an interesting market.  It is very neighborhood specific; some great, some not so much.  You definitely need some local help to understand which blocks are where.

One thing to remember about all of the Texas market, and El Paso specifically: Texas is about cash flow, not appreciation.  Most areas still have enough vacant land within reasonable travel times that new construction holds down the appreciation of existing homes.  Not to say it's not there but 7% is a great year and 3-4% is more common.  That means you need to be positive cash flow when you buy and not count on rising property values to bail you out of overpaying.

Post: New Member from Fort Worth, Texas!

Roy OliphantPosted
  • Rockwall, TX
  • Posts 380
  • Votes 211

@Stephanie Bolt

Welcome! 

This site has sure taught me a lot.  Hope you find the time to use it to create an advantage.

I suggest you work out what to do via:

Goals -> Strategy -> Plan -> Action -> Goals

Your Goals can only be defined by you and your husband.

Strategy is limited by resources but there are usually several to choose from.  Just make sure to choose One! (or a least no more than you have resources to pursue)

Make your Plan: Who will do what by when.

Take Action!  This is where so many lose their way.  Actions always have risks but so does in-action.

Then just keep at it until you reach your Goals.

It's just that easy and just that hard.

Regards,

Roy

txtaxsales.com

Post: Investing in North Texas (Dallas/Fort Worth)

Roy OliphantPosted
  • Rockwall, TX
  • Posts 380
  • Votes 211

What @Hattie Dizmond said!

We are still finding some properties in the that Dallas area where we can generate a 12% return but they are much harder to find than just 1 year ago.  We are still seeing good returns in some of the secondary cities and smaller markets  Still, Texas is a great place to invest!

Roy

txtaxsales.com

Post: Is it Ethical to...

Roy OliphantPosted
  • Rockwall, TX
  • Posts 380
  • Votes 211
Originally posted by @Gilbert Dominguez:

NO it is neither ethically wrong or legally wrong . In fact some large real estate agencies really specialize in wholesaling properties and of course the brokers are just find with it and have worked hard to refine how they structure their deals and offer the best of all worlds to sellers and buyers as well.

IMHO, it is ethically wrong.  Ohio being an example of using regulation to restrict competition I will except them, otherwise if a broker/agent thinks the best outcome for the seller is to 'wholesale' the property, simply write the listing contract to reflect a commission structure that reflects a typical wholesale profit.  There is no reason for the agent to take an ownership interest as they have the 'right' to a defined commission and can still function in the best interest of the seller.  If they don't want to represent the best interest of the seller, they should give up the license to take a commission.

Post: What to do with leads looking to buy property?

Roy OliphantPosted
  • Rockwall, TX
  • Posts 380
  • Votes 211

@John Jackson

Even judges...  How do you define the difference between them?  My understanding is they are but different names for the same agreement.  The intent of the law is to protect the buyer from losing money put into a deal that does not immediately deliver title and is structured such that the up-front payment is lost if the future event does not take place so that title is delivered. 

Even so, these arrangements are not illegal, just very difficult for the seller to comply with.

Post: Why Shouldn't I Buy A Tax Lien/Deed

Roy OliphantPosted
  • Rockwall, TX
  • Posts 380
  • Votes 211

@Chaim K.

I can tell you of one that I nearly lost on:  I had checked the property on Google Maps and was familiar with the neighborhood and general area.  House looked ok on the pics but I ran out of time before actually viewing the property.  Went to the auction and it was the nearly the last one on the list.  No one was bidding and I'm thinking $4500 for a 3-1 in a college town?!?  Still, stuck to our rule that we don't bid if we haven't seen the house.  After the auction, I drove by to see that an addition for the third bedroom had been destroyed by someone stealing the aluminum siding and the rest of the house was destroyed by copper thieves and a tree that had fallen on the front.

Lesson learned:  Know what you are bidding on or don't bid!

Regards,

Roy

txtaxsales.com