All Forum Posts by: Roy Oliphant

Send me a PM and I will send you the best I have found.

if you want to flip quick, tax deed investing is not the right place to be looking.  While some repairs are recoverable at redemption you are correct to be concerned over what you can fix immediately.  

I dont understand your not wanting to be a landlord.  Recurring revenue from a single effort is the best builder of real wealth.  Texas law provides a great value to the investor by allowing them immediate possession and right of rent.  But it is a long term opportunity and flippers should generally look elsewhere.

Texas is a very investor friendly state for tax deeds.  That is why there is so much competition at the auctions.  What area are you moving to?  Where are you looking to invest?

Here's my point: If you pay 75% of retail on a property you cannot visit before the sale and cannot control after the sale (i.e., the current occupants have at least one year to use, abuse and destroy the place) then you count the cost of your money, for the 18 months or so it takes to get possession, you are at about 95% of retail before repairs.  Still, we believe there are good properties available and deals to be found.  Just understand you need to do your due diligence considering the redemption period when someone else is in control of the property you have already paid for.

@Account Closed

Since, in Texas, there is no availability of the lien to the public for purchase, it may seem that you are asking for information that would violate the privacy of a debtor in  transaction in which you have no discernable interest.  Second, the county will spend significant effort trying to verify the owner who actually owes the taxes only when they are preparing a suit.  The raw list might disparage a person by listing them when they in fact are not responsible for the taxes.

Also, a list of properties that are only delinquent and not in a judicial action really has little value to investors looking for motivated sellers as these folks are not motivated until the county is about to sell their property.  This may be 2-3 years after the taxes are actually due.

I suspect you would find a better return on your effort looking elsewhere.  For example, you might want to watch the district court filings and take action when a new tax case is filed.

@Lynford Pilgrim 

Based on my experience: 3 months to more than 1 year.

Hi Stephanie,

Since you mentioned Alabama I am tagging @Denise Evans as she is the resident expert on Tax Sales there.  I assume you are meaning that you received a Certificate of Tax Lien rather than a Tax Deed.  The lien certificate is issued for the first three years after the property is 'sold' for delinquent taxes.  After three years from the original 'sale' date, you can apply for a Tax Deed (automatic if purchasing the tax rights more than 3 years after the original sale date).  As I understand, you need not register the Tax Lien Certificate as the county already has that recorded; unless you purchased it from other the county or the state in which case you need to register the transfer.

Your next step depends on the property, its occupancy, your intentions and a myriad of other factors that need some level of research and additional information to make a good decision.  Alabama tax sales are MUCH more complex than is explained on the ADOR or any county site.  You need education, a mentor and a good lawyer to be an Alabama Tax  Investor.  Else you are just gambling.  

Hi Dean

We are expanding into GA and I can say most of those counties are pretty competitive.  Several of the properties that sold at the last Gwinnett auction went for over 75% of retail and you still have the one year redemption to wait out.  What types of property are you interested in purchasing?

No GA county I have talked with sells over the counter.  You have to be at the auction.  Properties that are no-bid are offered at some future auction, not necessarily the next one.

Preservation improvement is an area for much contention. If I am a redeeming owner, I would always challenge them.  As an investor, I will always claim the value.  

You can go to mediation on the difference or go to court, depending on the age of the lien.  I suggest you get a lawyer with tax lien experience. Especially in Alabama where so much is based on case law.

You can message for a recommendation if you do not know of one.