All Forum Posts by: Roy Oliphant

@Bill Gulley 

These lots are mostly in established neighborhoods and either left overs or tear downs from disaster or neglect.  Texas has very few areas where there are geological or topographical issues; flat spaces everywhere.  Of course, we do have many areas with soil issues (clay or loam) and directional drilling seems to be causing measurable seismic activity but no damage.

Thanks, again!

@Karen Margrave undefined

We buy at multiple tax sales every month and there are many vacant lots that go un-sold in all areas of Texas.  Typically these lots are two years from development due to title policy issues.  

Trying to figure out if it makes sense to buy and hold these.  You have given me much to start that research.

THANKS! 

@John Blackman 

Sounds like you only buy the lot when you are ready to begin the process.  How do you source them?

Thanks for the information.

Ok, this is a newbie question but here goes:

Do builders carry an inventory of vacant lots and how long do they hold them before building starts?  If not, who do they get the lots from when they are building spec houses?

I come across a number of below market value lots while looking for other opportunities and am wondering who would be the most interested in them.

Thanks!

Roy

Please send the info to me as well.

Please send me the info.  Seems like a great deal.

Thanks!

What does your zoning allow?  Googling thru the neighborhood, it does appear a bar may be a possibility.  It seems there is a lot of special purpose built-ins though.

Good luck!

I work with a group of investors and we are buyers in multiple tax sales every month  Our focus has been primarily cash flow properties; houses that can be secured and rented and generate over 12% ROC.  We are looking for ways to expand our opportunities and wonder how many of you are interested in acquiring vacant lots and land in Texas.  These properties are subject to redemption periods and title insurance can generally not be obtained for first two 2 years.

If you know anything about Tax Deed investing, you know Texas is very investor friendly with some of the highest redemption penalties in the nation.  That's why the redemption rate averages less than 15%, statewide.

Hope to hear lots of your opinions and comments!

Roy

Have you verified the deed has been registered/filed with the county?  Signed and notarized wont hold up if he sells your house to another 'investor' (re: sucker) and they register it before you.  If yours isn't yet filed, you need to verify current ownership.

If it is, you might try buying him out and flipping it to someone local who can get it back on the market.  Atlanta, like most major cities, has plenty of demand for rentals in this price range.  Its a shame to have a place that could be contributing to the community and it be held up like this.

Good luck and good hunting!

 Just remember, at least in Texas, a license holder acting as principal and accepting a portion of the commission must disclose this to all parties.

You want to but a house owner-financed but you are concerned the owner wants enough information to verify your credit?  At least he has enough assets to own a house he can finance.  What about all the near minimum wage paper processors who see your application and that information when you apply at a mortgage company?