All Forum Posts by: Roy Oliphant

Hi @Ran Fridman

Tax liens and deeds are very different from state to state and may be very complex investments.  You need to understand the laws/rules for each specific jurisdiction where you want to invest.

There are more detailed answers to your questions in previous BP threads but as a quick answer:

1) Typically a lien or tax deed cannot be acquired before an initial auction.  There are some special cases in some jurisdictions but they are not relevant to the average investor.

2) Depends on the jurisdiction and their publishing requirements.  Each County typically has a site that may contain a listing.  Else, they may be maintained at the site of the law firm that processes them for the jurisdiction.

3) Most will require a known local entity (ie a business registered in that state) or a person.  The entity must be formed so that it can legally hold property.   How you structure this is also a question for your CPA.

Regards,

Roy @ txtaxsales

@Trevon Peracca

What is the criteria of the list you are looking for?  A general list of all delinquent properties.isnt worth much as the owner has no special motivation until there is a published upcoming sale.

@Steven Payne

Let me know how that works out.  Our experience is costs are higher and time is about the same.

@Steven Payne

Why did you decide to go with the Writ of Possession over a regular eviction?  I believe the Writ goes to district court vs a JP court for the eviction.  While you can file the Writ in 20 days, getting a court date may take longer than the eviction process. 

@Alonzo Ramirez

Just remember that zoning is only part of it when it comes to what you are wanting to do.  Local and regional sign regulations will usually be much more restrictive than zoning especially for signage unrelated to the business at that location.  Remember that if the major street is designated as a state or US hiway, those regulations may apply as well.

@Dennis Nelson

While I am sure PIP expects each investor to do their own due diligence, what sort of DD does PIP do to qualify the liens as investable before offering them to the public?

@Christy Harris

PM me and I can send you the one I use.  She is very competent in this area.

@Sandy Nguyen

In most cases you are limited to the value of PRESERVATION improvements, INSURANCE and SECURING the property.  So as to painting, if it is required to preserve the property, you MAY get the value of that at redemption.  Fix a leaking roof or broken window seem pretty obvious. Painting not so much.  Also, if the tax sale can be voided (improper notice, i.e. recorded owner died before the sale, etc.) you may not be entitled to anything other than a refund of the money paid to purchase the tax lien.

Tax lien and tax deed investing can be very profitable but there are significant risks.  You really do need an experienced partner or a good attorney who specializes in this type of practice or both. 

@Shital Thakkar

Texas is a Tax Deed state so liens are not relevant.  We have been doing tax deeds for some time. (Check my profile for more info)  Let me know if we can help.

@Cheri Lange @Cindy Murdoch

I am not a license holder but have known some for long enough to see them go through the ups and downs.  It seems to me Jon said it pretty well.  As the market goes up more people come in, as it goes down, people leave.  There is always competition. 

The ones that make it are those that work hard ALL the time.  Do the right things, over and over and over.  Network everywhere - all the time.  Learn how to list or sell or support investors.  Pick one to focus on; there is too much to learn to start out 'focusing' on everything.  And remember no one deal is worth your career.