All Forum Posts by: Roberta Langford

Joshua Dorkin,
Thank you for the hard work--so looking forward to reading.

Steve Babiak, I see my error the link is to a link with mult. links. Chalk it up to a brain fart....but more so to sleep deprivation. I have so much to consider.

Thank you to everyone. This site is wonderful and you all are so nice to take time to respond to this thread. ;-)

Brian Burke,
I am concerned and appreciate your concern--really I do. I understand in a way what happened to that woman saddened you and great lesson to be learned.
I am still 60/40% on pulling the plug on the auction--and go to the open market. That is really where I want to go anyway....doubt I will have the cash. I am green and know this.

I like the advice on checking changed spellings--I also noticed 2 single women buyers --got married during years of living in the property. I checked under married and maiden names/with and w/o middle initial/name-- hobby of genealogy may help in searches . I did all this online and plan to do this with county clerks help this afternoon.
I always do a google search on the person and often find out a little about the owner. All the properties of interest. were brand new and had one owner.
I feel less urgency to do the auctions, and have no problems walking away. But I am still curious.

@Savanah Leigh, thank you for the advice too. I have never heard this and will be arming myself with this question in my search.

Question: One single young women owner died in 2011. The property is was built in 2008 and she is the sole owner, with no children nor marriages. Orig Principal 101k. Online deed search found no liens. She did not die in the home-but at her parent's home. Sad story, but sounds like cancer per google. Anything liabilities I should be concerned or looking for?

Steve Babiak, I was looking through your links you sent. I noticed only the one is there now. I only read the single link.
Thank you so much for the link.
I am thinking about pulling the plug on the auction. But I will do what Brian did and go through the courthouse regardless--to educate myself.

Brian Burke,
I am so worried about this.
Can a junior lien be hidden or should be noted at the county courthouse records? I would higher an attorney if that would help.

I looked at all the deeds, and found the IRS lien, and another prospective property with HOA fees, on another. I am shooting for the ones without liens.

I keep hearing that you will never know everything from real estate shows on the radio, and in the book. But I do not want to be a an uneducated fool either.

I do appreciate your concern. I so wanted to buy a house for cash, but maybe I can buy 2 homes with a good down payment via the realtor.

@Steve Babiak,
Thank you so much for the links. Now I am going to loose more sleep again, but it will be worth it.

Brandon Turner, thanks for the advice. I am trying to do the key words. Thanks for referring me to Brian Turner.

I do think the Realtor is wanting me to not make a mistake--and I plan on pretty much utilize the realtor for my next properties.

Brian Burke, I am a little more apprehensive since you and others have cautioned me. I would love to try this if possible but you have me a little worried.
Here is my take and it may seem bold for a new investor:
I learned a lot retired buyer/ investor of like 399 homes in person.
I have read a great book on real estate, BP forums.
I have gone to the auctions....and you are right many are REO'd.
Prospective single home to buy: 3 of 4 homes orig. principal <101-110k--and likely the 4th too.
All had one owner--3 of 4 had paid mortgage 7-8 years.
I am fine if I do not get a cheap deal, but do not want to lose $ on the deal--junior lien.
And that is why I tempted to contact an real estate attorney for consultation.

Re: title search is different per attny in Texas.
One title company refused due to do the title search unless the other house was not under contract. A kind attny, at another respected title co., said it was foreign to him to do a title search for less than $350.00---and that he has never done title searches for foreclosures auction. I believe that is due to the fact the deeds are online.

I am going to the courthouse to verify all liens/deeds tomorrow.

What do you think?

Jon Holdman, They are posted early online--unlike on Property Wars, and I guess other states. I guess that gives local investors an advantage.
I have found that some have people in them, and they act clueless. Since I am new, I am avoiding those altogether right now.

Wayne Brooks,
That is good news! Great advice. Bc the prospective property had some upgrades in it, but missing appliances/needs cosmetic work. I doubt there is a lot of equity. So maybe a 4th potential property of which I hope to win one.

If I buy a property at auction, hope to buy the other with financing. Hopefully develop a relationship with a realtor that knows I am in this for the long haul. Perhaps with a line of credit I can buy another in 2-6 months.
Thanks again.

John, I am so grateful to you all--and the BP forum. I totally agree. I am going to contact a title company today.
I love the Texas hold 'em/fold 'em comment. I am no poker player, but great line to remember in the future.
Properties are in good area. I talked to neighbors as much as possible too. Some had open blinds/or no blinds, and hope my visual checks of exterior helped.

I am glad that the amount of money 110k may not be enough on 2 of the 3 properties-- if bidding gets out of hand:
all the homes are 5-10 years old.
1st property is worth apprx: 130-140k (some new flooring and walls, as previous owner tried to kill a skunk via gun per neighbor...LOL)
2nd: apprx 118-128k
3rd: 95-105k

Thx again you guys. Keep the good advise rolling.

Thanks, Jon....I have read some your previous wise responses.
My understanding is a second, or/and 3rdeg., home equity loan. Hence the title search. I did so much work looking on the online deed search(wasted, but learned too), for the liens. Found a Fed tax lien at 31k and was glad to ditch that SFH.
I am going to use a property manager that my realtor runs with his realtor wife--at 8% cost. So they said they will deal well with problem tenants. But from some of the posts--it is not easy based on 'Tenants from hell' forum.
I want to do well at the auction even if I only save 10%. It would be great to own my first rental property.
I definitely will be calling the title company. It sounds like money well spent.
Any other thoughts?