All Forum Posts by: Ryan Cooper

Hell, if I could get something at 60% or get 20-50% interest than I'll be a happy camper. The competition here in NM is absolutely unbelievable. People are purchasing HUD homes above list price and I'm not even sure how they are renting them out for a profit. It's insane.

I really wasn't looking at PIP but they had a link on how Georgia tax deeds worked so I clicked the link. 

I have to assume that foreclosure will be at lest 8-10k for Texas and take approximately 6 to 18 months.

It's probably as crazy as the one in Houston. 

I'm going to try and go to the smaller counties. I'll still attend well known auctions but I'll have to start in the minor leagues. 

I think it does lend to being complicated so I'll focus on tax deed or redeemable states. 

Texas is close and appears to be the consensus best state  I'm going to focus on counties that aren't as popular to see how I can warm up in the minor leagues  I went to the auction in Houston and it was ridiculous.  People bidding at full price if not 20% over.  

I've heard that hedge funds come in and flood the auctions so I'll start at the smaller counties/cities. Possibly El Paso, Amarillo, Lubbock and some counties/cities inbetween.

I'll play this one out for a year and see where it goes. 

I researched each property and about 3 I wouldn't take for free 

Easily half were 200k in value (last sold on Redfin) and taxes no higher than 10k   In this scenario, per rule, I would have to pay 100k for the deed  

The owner would have to pay the county the back taxes plus my 20k.  I'm going to assume the county holds my 100k and gains interest   

I'm really looking to acquire vacant lots and resell on owner financing  

So a tax deed would supersede a mortgage?

I'm looking at a list of 25 properties, most of them in really good condition.

Referencing this site below, if a property is worth 100k, than I pay 50k to the tax assessors office.  

Scenario 1:  The owner pays me my 50k back and 20% on top to make it 60k.  That is an amazing return.

Scenario 2: The owner doesn't pay the taxes within 12 months and the property is mine and I start the foreclosure process.

What am I missing?  Why would any of these tax deeds still be available?  

http://pipgrouptaxliens.com/tax-liens-deeds-subpag...

I've looked high and low and don't see anyone doing this but possibly due to the fact it's an disqualified transaction.

I'm looking to purchase multiple properties with little down as possible using SDIRA funds.  If I can obtain the right language in the document to make sure it's a non-recourse (qualified) loan from the owner....is it possible?

Thanks in advance for any responses.

Thanks for the quick response. It might sound odd but I really want to make sure all IRA dollars go into investments and not into fees.

Do you recommend a SDIRA company?  I'm going to buy notes (car and house), private lending locally and most likely try to get 2-3 houses for rentals.

Thanks again for the quick response.  I wanted to make sure this wasn't a prohibited transaction.

One of the books I'm reading says that it's best to pay the SDIRA yearly fees out of pocket to maximize the amount of money.

Now, I'm sure the transaction fees of an investment have to be paid by the SDIRA but is it still legal for the yearly maintenance fee to be paid out of pocket?

Thanks.

That can assist with what is a prohibited transaction or violation in the SDIRA world? I'd even pay if I could ask detailed questions. This goes beyond questions around disqualified persons. Thanks.

Call the first and see what's up  

How can you check to see if the first is current?

I've been researching np 2nds for about a month now and I've seen a couple of strategies but more truths that have been covered in the previous threads.

• Invest in hot markets or at least stable markets.  This is key since it removes most if not at least 80% of the risk immediately.
• Cost of obtaining + UPB of the first must be less then BPO or what you find on Zillow.

So considering those first two, if we believe we have an property in an area that will rise in price and/or foreclosing will result in a positive outcome. 

At this point, I'm trying to determine how much it costs to at least start a foreclosure to bring the homeowner to the table or complete it and still not be underwater in the property myself.