All Forum Posts by: Arnie Abramson

Derek,

Unless the mobile home has been designated as real property, it is personal property in Texas.  If that is the case, and it usually is, the mobile home is not something you get when you purchase the tax deed.  In fact, you may have an expense to move it.

If it is real property then the same rules apply to all real property.  You can evict 21 days after the sale.

Arnie Abramson

Texas Tax Sales Resource Group LLC

Every State is different on how they handle that.  In Texas, for example, the most you can charge is 25% , not to exceed $1,000 and YOU MUST BE AN ATTORNEY.

Makes it hard to justify the fee if you plan on doing it in Texas.

Arnie Abramson, CEO

Texas Tax Sales Resource Group, LLC

Yes.  Contact me to look at the flyer.  You have immediate possession of the property.  You have a receipt for your payment to prove that you bought it and that should be sufficient to show to the residents if necessary.  Yes, if the house is vacant you can change the locks and get inside.

we are looking for someone to be our 'boots on the ground" in your area.  Perhaps we can work something out.

Arnie

Steven,

When you contact the residents, the first words out of your mouth should be to let them know you bought the house but you do not want them to leave.  This will allow them to breathe easier and perhaps even invite you in.  There are other nuances that can make the experience easier and we also have a flyer that we leave in case they are not home (which is a good thing if they are working when you call).   It is compelling but polite and they always call.

We are in Texas too and will be happy to help.  We have properties in your area as well.

Arnie Abramson

Texas Tax Sales Resource Group

Jim,

Here is our reasoning.  Odds are that if it is not redeemed you will have to hold it for 2 years even if it is not a homestead due to the title companies hanging their hats on the contestability issue.  If that is the case, I want cash flow income not cash flow outgo for that 2 year period.  If someone is living in it and it needs little or no repairs or rehab-so much the better.  You are entitled to immediate possession but you cannot evict before 20 days after the sale but you are entitled to rent immediately. 

Arnie

Many times the owner is in the house when it is sold at the auction.  You still have the right to evict him if you wish-after 20 days.  My question is why would you?  I have been buying houses at the Texas tax sales since 1992 and I love to buy them with the owner inside.  First of all, it probably needs less work than if it was vacant or had a renter.  Secondly, I tell the owner he has choices;  He can redeem, he can vacate or he can stay and pay me rent.  Many times we buy the house and get rent from the owner until he can redeem (usually he cannot).  As i say all the time in my classes that I teach on Texas tax sales-There are no short answers about tax sales in Texas.  So, this was just ja brief reply to give you a response based on my experience.

Arnie Abramson

Texas Tax Sales LLC

Check out www.txtaxsales.com

We should talk.  Might be mutually beneficial as we could exchange data.  Are you still in Canada?  One of our investors lives in Calgary.

Arnie

Good job Stephen.

I am in the Dallas area and Dallas County is about the same story as Stephen related about Harris County (Houston).  We are having a lot better luck in the smaller counties around the bigger cities but there is still competition there but not as bad.  

We do cover the whole state and there still are deals but you have to do your homework as Stephen pointed out.  

Arnie 

Charles,

We cover the entire state of Texas for the tax sales and I agree with Stephen.  If you are just looking for multi-family at good prices Texas tax sales are not where to look now.  You might find some smaller multis in the small counties but probably nothing worthwhile in the major cities.

Arnie