All Forum Posts by: Peyton Leal

If you're looking to just help, start with the county clerks office. They should be able to aid the claimant in how the process works, it is pretty simple. Here is the link to start: https://statutes.capitol.texas.gov/Docs/TX/htm/TX.34.htm

If you're looking at this from a business venture, check out:
Sec. 34.03. DISPOSITION OF EXCESS PROCEEDS. subsection (i):
"(i) A fee charged by an attorney to obtain excess proceeds for an owner may not be greater than 25 percent of the amount obtained or $1,000, whichever is less. A person who is not an attorney may not charge a fee to obtain excess proceeds for an owner."

If you find a way to circumvent that statute I would be interested in how. I have alerted claimants to their funds, but I have never charged for that service. 

Texas tax code is backwards and I feel that it favors the county districts after the 3 year seasoning so they can stake their claim.  

Ill reach out to both of you with more details on the property. Owners are friends with my father and are letting us get in early. 

I wanted to ask advice on apartments, I may be taking down a 21 unit gated community coming up. Management, renovation (after leases expire?), anything else.

Our company owns a small office building and working on a larger one as well. I know it will be completely different businesses vs apt renters. 

* Also, if you are looking for apartment complexes I may end up wholesaling it. Send me a message.

If you're partner is house hacking and paying your partnership rent (or not taking that part of profits), he solely would have get the FHA loan. You would not be on title. If you started an LLC together and put the property in it, FHA could call loan due.

If it is just to begin investing, that would be mortgage fraud. 

*Not a lawyer 

- If you are getting license to work as a realtor choose one for your specific market area.

- If doing it to invest, go with a brokerage that is part or can be apart of multiple or all associations.I was fortunate enough to get best of both worlds. Our brokerage merged with a corporate broker and now I have any market area in Texas I could want. 
Also check and see if the broker is also an investor. Mine was and had no problem with me wholesaling or investing. They will help you grow.

Huntsville and Conroe for immediate areas. If you're willing to do long distance investing there are other Texas options. 

Awesome! Thank you everyone! 
I go to KJL in Seabrook, but didn’t know Tim has one. There will be another on island in Febuary as well. 
@Timothy Church

Happy New Year All!

I wanted to propose a meetup either on Galveston Island or somewhere in-between here and Sam Houston tollway (8).

Reach out if you are in the area!  

BRIC is the only one. You'd have to travel into Houston to find more

RV Resort may be a decent play here. You could also add cabins and Airbnb those out as well. 

Run the numbers for each scenario first. RV spots first then cabin construction.