All Forum Posts by: Adrian Pillow

Great feedback thanks!   Ironically some of the sales do need approved by the council, so I see what you mean by raising awareness.

This info will be specifically for Tarrant County (Fort Worth) TX.   

Did some calling around today...  There is a disconnect between Tax Dept and City Of Fort Worth on back tax obligations.  More to come when I have a straight answer.  

I am completely confused on how the math works on City/County owned properties where the outstanding back taxes owed are worth more than the property...  (think: vacant lots / teardowns)

Is there a way to pre-negotiate with the county Tax Assessor?  % of owed maybe?

Basically, who or how are are these properties disposed of if the math does not work?

Thanks for any insights!   

Great info.  Looking at City owned properties now and the killer is the standing tax lien that needs paid off...  IDK how any of these are worth the effort.  

Thanks!  

DC I will agree is about -20% off. Depending on location, some areas are soft and other barely feel at all.

Atlanta is getting destroyed!!! This -15% is baloney. Vacancies and foreclosures are rampant there, no matter which areas I have seen in the last few weeks. Sad sad sad. The job market is weak as well so no rebound for them anytime soon. Depending on where you are I think closer to 25-50% off peak.

Just the way I see it.

I have seen 3 friends walk out of houses due to being "backwards" on them... And they could afford them! At this point it was merely a business decision.

One example 625K owed on a now 350K house - yuppieville on golf course house perfectly maintained. Would you keep paying or take the credit ding? I vote for credit ding on that spread myself.

I hold an Advanta card as well and have been warned of the same thing. Granted they will service the balance if you have one.

Advanta has been a big PITA for me and I was about to close that account anyway. I say screw 'em.

Plus I hate that their call center is outsourced to India and you cannot understand a dang word they say even thought it is "english".

I encourage people to look at the American Express products. They have been the best people to work with hands down. I love them!

Congrats Jeff! Media mogul at large.

I agree that is a hell of a house for 40K!!! Even with a dirt road.

Rich would you care to expand on this comment:
>Again, just because a property is foreclosed and not "offered for sale" doesn't necessarily mean the lender still has it. I buy many homes directly from the banks before they list them.<

I am curious as to how you do this.

FWIW in our area the banks are sitting on a lot of inventory! Especially with spring hitting the grass in some of the lawns is getting pretty ridiculous. LOL The home builders IMO are the ones really pushing prices down just to keep busy or complete neighborhoods.

Thank you,

Excellent. At this point our thinking is buy, fix, hold. As long as the cash flow is right you cannot loose.

Take Care,

Hi George,

A local!!! I am right down the road from you in Warrenton.

You should check out the REIA meetings for networking.

Let me know if you come across any dumps in the Park that are good investments. Okay more dumpy than a normal Mana Park home. LOL Actually some of the homes in Old Town are pretty well kept these days! Really a good improvement since the commercial area is getting an update as well.

Take care,