All Forum Posts by: Winniferd B.

Hi Robert, Welcome to BP.

Good to see another Houstonian here!

Hi Danny,

You're right it is good to see another Houston face here!

I'll be in contact, perhaps we can work out a deal on the comps.

So I did some more cold calling today for some properties I found while cruising for cash and I spoke to what I think is an extremely motivated seller. She said that the property had been listed by an agent but didnt sell and Im assuming it expired. It was listed for 105k, but she said right now they are open to all offers. They purchased the property in 02 with the intent to renovate...not sure why it never happened. I did some research and found out they hadn't paid the taxes for the last few years, but they are only about 2,700.00. They're also a little over 3k delinquent on the taxes for the home they live in....so apparently they need the money.

Now I'm suppose to meet them on Saturday morning so I want to make sure I've done my homework and make the best possible offer possible without offending them. The neighborhood has homes that sell for up to 300K. It's a potential 7 unit multi family and located near a college so there's great rental potential there. She said its in ready to renovate condition.

Im new so I've never done estimates..would it be wise to bring a contractor with me for the walk thru. Is that even possible?

Also, when you make offers to you go into detail as to why you're offering what you're offering?

And where can I get the most accurate comps since I dont have access to MLS or an agent right now?

There is no mortgage balance they own it free and clear, I believe they inherited the property.

And so far it has not be listed for a tax deed sale.

Hey Marc..they owe ~60K.

I contacted a very motivated seller about buying their property. The owner said that the taxes had not been paid in several years so I did some investigating and found out that they owe 60k in back taxes and there is currently a law suit. I planned to wholesale the property. The ARV is at least 110k if not more. I'm wondering if this is worth my time or if there is another approach I can take

I completely understand and agree with everything you're saying. I know I can go to HAR homepage and see everything listed, however I can't see how much a home sold for and how it was purchased...you know whether it was financed or bought with cash. And I want to be able to accurately run comps. I have a property that I'm looking at now,but I'm not able to get the real comps on it. But I do understand what you're saying about the expense and the time of getting my license.

I'm thinking about getting my real estate license so that i can have access to MLS. So my question is since I'm really not interested in being an agent do the license actually have to be active and if so does that stop me from wholesaling. What would my limitations be here in Houston.

I appreciate the input.

I like the ABC's Chris...Alway Be Closing..LOVE IT

And Steve thanks for the direction to the threads...this is good stuff!

Don, thanks so much for your advice. I actually started making phone calls about an hour ago. Turns out my first call is a very motivated seller. Its a couple of siblings that inherited a house and they havent paid the taxes in years..they dont even know how much they owe. I told her that I would investigate and get back to her later today.