All Forum Posts by: Derrick R.

Good idea, @David Torres. I'll definitely check out a meeting in Lubbock. My short term goal is to get into some smart, profitable investments. Long term, I want to replace my income with RE investments, i.e. financial independence. 

Currently, finding actual deals is the hurdle I'm trying to jump past. I'm working with a realtor to try to find a flip deal, but it seems like the actual deals will come from off the MLS. I'm trying to keep my options open and I'm definitely not getting emotionally invested in any potential deals, but I am very eager to get the first deal under my belt. Just have to find one where the numbers work.

Thanks @Kirk R.. I'll play around with it a bit more and see what I can get!

Very interesting info in here! I'm in NM which is a deed state and it looks like the state schedules deed sales about once a year for each county, which I am guessing is how it is done in other states as well?

@Jay Hinrichs when you mentioned you call your title company and get a "date", are you talking about a date the property is going up for a tax deed sale? Are you paying for all of these title searches? Looks like that could get expensive if vetting 100's of properties!

The list described above provides just one result...I've had issues like this where I've tried to pull a list from listsource and it returns an extremely low number or zero, and I live in a town of about 35,000 people.

I would think we need at least a couple hundred to start marketing to, right?

Awesome, thanks much for the replies!

Are you talking about private lending, hard money lending, or something totally different? I was thinking JV deals would be a bit easier being that I could partner with someone who knows what they're doing and allow myself to learn quite a bit while funding the deal.

From what I've read, private lending and hard money lending requires quite a bit of experience to get into.

I am not certain/convinced that flipping in my current town, Clovis, NM, is a great idea being that it is possible that the market is becoming flooded with new homes and the town is very small and mostly centered around the military. 

Given this, I am contemplating JV deals in Lubbock Texas, which is about an hour and a half from Clovis. I have the funds available for funding flips, but how would I go about finding a reputable investor/flipper to partner with? Thanks BP!

As the title suggests, my wife owned a house with quite a bit of equity in it and we are in the process of selling. She lived in the residence since it was built a few years ago and just moved out when we were married this past April. We have not rented the property at all.

So, where does that leave us with taxes on the equity once we sell it? Are we required to report it as capital gains? If there are tax implications, would using the money to pay off a portion of our current mortgage help at all?

I live in New Mexico and I'm starting to play around with ListSource. Whenever I enter any amount of bedrooms, the count goes to zero.

Also, my current list is $30,000+ equity, 40-100% equity, and absentee owners. This list returns 260 hits. I live in a small town, so I figured it wouldn't be huge, but is this a large enough number to starting sending mailers or should I broaden my search? Thanks!

Nice idea...didn't even cross my mind about transferring first. Thanks for the response, Jim!