All Forum Posts by: Rick McCray

Mark,

If you purchase the house what did you want to do with it?  Are you going to rehab it for resale, rehab it for rental, or another option?

Awesome news Andy!  Keep it up!

That is awesome Jim! Keep up the good work!

I am guessing because you paid the actual taxes that were owed under the last evaluation. If you bought the lots at the tax deed auction, then you paid those past due taxes and that is why you are getting the refund check and not the previous owner.

Good post! Thanks!

Hello Rhonda! Welcome to BP! Are you and your husband interested in owning property to rent out in Missouri or did you have another strategy in mind?

Can you give me an example Don? With numbers?

Jason,

What are your desires and goals? How much do you want to grow that $15,000 into and how fast do you want to grow it? Do you want to work with partners to invest in a substantially bigger deal or are you simply going solo with all of your endeavors?

Now the "if it were me" story. If I had $15,000 to invest, I would put most of it into tax liens. That is because that is the area of real estate I am most interested in and I would be most comfortable either getting a good return or a good property after the full foreclosure process. That may be a less "active" form of investing than fix-and-flip, but I would feel more secure in my ability to analyze and control the deal.

What is the smallest amount you have put into a deal that turned a profit? If you have a "zero down" answer then I want your "zero down" story. Any amount of profit is fine, as long as it was more than you originally put in.

I don't mean to be Socratic, but all I have are questions for you.

Are you married? Are you in a serious relationship?

Is having an additional source of income important to you right now? If it is, how much do you want?

Are you willing to work with partners?

What area would you buy your home in?

What area would you buy your investment property in?

Now I can give you the "what I would do" take.

If I was three years out of college and had a little cash I would invest in real estate before I considered buying my own home. My house would be an immediate liability but my investment property would be an asset. I would buy as many cash flowing assets as possible or do activities in real estate investing that would produce cash so I could do whatever I wanted down the road.

You have your whole life to own your own home, why not invest now and learn, learn, learn so when you do buy your home you will buy right.