Investor · Dallas-Fort Worth, TX · Member since 2016 · 80 posts · 31 votes
Hi, I'm a new wholesaler about to do my first direct marketing campaign to tax delinquent owners in Tarrant County. Anyone with experience doing this in Dallas-Fort Worth? Other than finding their address and how much they owe, should I look for additional criteria? Any other insight is greatly appreciated!
Wholesaler · Dayton, OH · Member since 2016 · 252 posts · 227 votes
9y
I would recommend you filter down to properties that have been delinquent for at least two years, though this could vary in your county. The reason for this is that some people just don't pay their taxes until the end or beginning of the year, which technically makes them delinquent, but then they pay it all up. If it's been two years, though, there is probably a problem.
Also, I would filter the Net Delinquent amount (the total amount they owe) to something like $2,000 or more. Again, this may vary. $2,000 is about the average annual taxes around here, so anything above that is significant.
If your tax delinquent list allows you to sort by zip codes, tax districts, or other markers, you can then filter by only the areas you want to target. It all depends on how many or how few you want to send out.
Wholesaler · Dayton, OH · Member since 2016 · 252 posts · 227 votes
9y
I would recommend you filter down to properties that have been delinquent for at least two years, though this could vary in your county. The reason for this is that some people just don't pay their taxes until the end or beginning of the year, which technically makes them delinquent, but then they pay it all up. If it's been two years, though, there is probably a problem.
Also, I would filter the Net Delinquent amount (the total amount they owe) to something like $2,000 or more. Again, this may vary. $2,000 is about the average annual taxes around here, so anything above that is significant.
If your tax delinquent list allows you to sort by zip codes, tax districts, or other markers, you can then filter by only the areas you want to target. It all depends on how many or how few you want to send out.
Wholesaler · Dayton, OH · Member since 2016 · 252 posts · 227 votes
9y
You're welcome.
One more thing, you might have a bunch of commercial, industrial, and other properties on there. See if you can filter by codes so that it's only residential.
Also look for "land use codes". The standard for these is that 500 is vacant land, 510 is a single-family, 520 is a duplex, etc. You want to DEFINITELY filter out the vacant land, unless that's something you are focusing on, and probably all the others to get down to single-family.
Investor · Dallas-Fort Worth, TX · Member since 2016 · 80 posts · 31 votes
9y
I've narrowed it down to sfh that are delinquent. And I can run an up to date "taxes owed". I have to scrape the additional information you've suggested.
Wholesaler · Dayton, OH · Member since 2016 · 252 posts · 227 votes
9y
Well, it's not the end of the world if you can't filter easily, it just helps. The taxes owed and the years delinquent generally accomplish the same thing, so I probably wouldn't waste a lot of time scraping. In fact, if you want to filter a little tighter for smaller numbers you could probably just raise the taxes owed number a bit more.
Wholesaler · Dayton, OH · Member since 2016 · 252 posts · 227 votes
9y
Believe me I understand. My county is the same, but just be grateful you can get this info. Some of the delinquent info you get from other counties is either nothing at all or it's just a crummy PDF list with barely any info. It took me a LONG time to figure out and filter down my list, but I'm really grateful to have so much data to work with. I wish more counties provided the info that mine does.
Rental Property Investor · Round Rock, TX · Member since 2016 · 24 posts · 22 votes
9y
Roger Covin I was planning on doing a similar campaign here in Tom Green county, Texas. Can you share with me where you found the information on tax delinquents? Was it a list you purchased?
Fort Worth, TX · Member since 2016 · 15 posts · 6 votes
9y
@Roger Covin This is a great post. I'm trying to do the same thing myself in Tarrant County as well. I'm in Fort Worth but very new to the industry, maybe we can possible get together and partner up on some deals in the future.
Investor · Dallas-Fort Worth, TX · Member since 2016 · 80 posts · 31 votes
9y
@Sanford Hobbs That sounds great, it's all about team building. If you ever have a property and can't find a buyer, I'll shoot it to my bunch and we can co-wholesale. Vice versa
@Sanford Hobbs That sounds great, it's all about team building. If you ever have a property and can't find a buyer, I'll shoot it to my bunch and we can co-wholesale. Vice versa
Sounds good to me, looking forward to working together. Also like I stated in new to real estate, and if I have any questions do you mind if I reach out to you for help?
Investor · Dallas-Fort Worth, TX · Member since 2016 · 80 posts · 31 votes
9y
@John Thedford I tell the owner that I'm interested in purchasing their home cash. After a physical evaluation I'll be able to determine if the purchase will work for me. If it doesn't work for me I will let my network of investors take a look and make something happen for them. I'm an investor so I would let the investors pay me for my time and efforts.
Wholesaler · Dayton, OH · Member since 2016 · 252 posts · 227 votes
9y
@Roger Covin Don't take the bait. John does this in almost every Wholesaling thread. He's convinced Wholesaling is illegal so he's just trolling you. Check his past posts.
Investor · Dallas-Fort Worth, TX · Member since 2016 · 80 posts · 31 votes
9y
@Steven Leigh I see, I've noticed some of that. I'm a licensed agent as well and actually see the benefit of wholesaling to the industry...especially in tight markets like the one I'm in. All that trolling could be energy towards learning new skills for the tool belt
Daytona Beach, FL · Member since 2016 · 12 posts · 4 votes
9y
I will like to know how to get into the wholesaling business. i will like for someone to mentor during this process, i will like to know if i should get my realtor license and also is it a good ideal to get an LLC. i have attended alot of real estate seminars and i think is time that i start getting into the business,
If you tell people you will close, especially those in financial distress, and then walk, what happens. I see leigh has tried to paint me as a troll...gee my feelings are hurt! He has promoted illegal activities on these boards - a definitive indication of integrity and honesty! He is just another public nuisance (as Bill Gulley defines them).
Investor · Dallas-Fort Worth, TX · Member since 2016 · 80 posts · 31 votes
9y
@Charles Okafor that's great! I'm new at wholesaling but have been involved with real estate for 3 years now. Take it all step by step is the best advice I can give. I'm searching for a good mentor myself, just gotta start shaking more hands and going to more club meetings!
Investor · Dallas-Fort Worth, TX · Member since 2016 · 80 posts · 31 votes
9y
@John Thedford I would never 100% guarantee a closing...it's really case by case. Once you understand a person's problem then you can offer the best solutions. Some ppl may need cash NOW! Other's may need to just list their property on the market if they have the time to wait or don't need costly repairs. Either I will close, my investor network will close, or I can point you in the right direction to find a solution for YOUR need. It's unfortunate if ppl abuse wholesaling but there are also bad players that are licensed as well. As professionals, we just have to build a good network of talented ppl and educate the public.
There is YOUR advantage. Buy it for a discounted price OR list it. This approach means the seller is informed of true FMV. It they want quick cash instead, you can buy it as an investor. Lots of unlicensed brokers aren't transparent and play games. Many won't get licensed because they can't be held to the standards demanded of licensees.