All Forum Posts by: Deborah Hardin

@Kim C.

Little Rock has great investment potential. Best of luck in your upcoming ventures, here! 

@Perry Ivy 

I am also in Arkansas - and would love to hear what you decide, and about your journey with an Airbnb in Jonesboro. 

Please consider posting follow-up messages as you go!

Deborah Hardin

Hi @Chris Garrett - I would love to know if you were able to buy that house in the commissioner's auction, and how you worked out your financing dilemma. Buying that first investment property at auction is so exciting (and terrifying - let's be honest!).

I agree with @Paul Younger - these properties can be risky, but also high reward. I have seen clients make ridiculous profits when buying and selling these properties, but I've also seen clients who have paid way too much for their properties.

Be sure to budget the costs for the confirmation and quiet title action (as mentioned by Paul), when you are determining how much you will pay for a property. I'd encourage you to talk to a few lawyers BEFORE you bid in next year's auctions, so you can get an idea of how much money you will be spending.

Best wishes,

Deborah (also an attorney - but not giving legal advice)

Hi @Greg Henderson,

I am late to this conversation, but wanted to say that the costs for a confirmation and quiet title action can vary tremendously depending on the attorneys you are using, the particular property, the number of defendants, and whether anyone fights the action. Most attorneys will charge by the hour. (We provide a flat-rate fee for most of these actions.)

I would encourage you to talk to a couple of attorneys before choosing one, and ask many specific questions about these actions. Tax deed confirmation and quiet title actions are DIFFERENT than a traditional quiet title action, so choose someone that you know has experience with tax deed properties. 

Best of luck with your tax deed purchases! 

Deborah 

Welcome to Little Rock, @Nicole Edwards!  Have you considered doing some property management here?  Real estate investors in this area always seem to be looking for good property managers.

Hi @Kenisha Chapple and welcome to BP!  I am also located in the central AR area. I have noticed that my real estate clients (especially those who are out-of-state) do use craigslist ads to sell wholesale properties. You might try searching craigslist yourself, just to see what kind of ads are on there. I haven't used it, myself, but I understand that you have to advertise frequently or the ad gets buried.

Best of luck!

Deborah Hardin

I have many clients who purchase tax deed properties for very low prices. Then, they either turn around and sell them at a profit, or make any needed repairs and rent them out. It can be a great way to build your portfolio, if you are patient and do your homework.

@Paul Huenefeld

Hi Paul,

I am also located in the Central AR area. Welcome!!

As a real estate attorney, I would also suggest you seek advice from a local real estate attorney before buying property with a clouded title.

Buying property with a clouded title is not always a bad idea or a bad investment. You just need to understand what the "cloud" is and what steps may be necessary to clear the title before you resale. Every situation is different.

Best of luck!

Hi Justin,

Welcome, from a fellow Cabot resident!

Best of luck in your new venture.