All Forum Posts by: Glen Mauldin

I am not an attorney but I am a Landman (oil and gas leases) and we deal with this all of the time. The ownership is going to depend on what happened to the record title owners’ (the deceased parents) interest in the property. If they died testate (with a will that was probated) then title will pass as set forth in the will. If they died intestate (without a will) then the title to the property will pass through intestate succession. This will vary on a state by state basis depending on the law. In intestate succession instances we will use and Affidavit of Heirship to lay out the familial circumstances that are relevant and file that of record to cure the gap in title. The affidavit if from a disinterested third party who has knowledge of the factors that are involved, usually a close family friend or a relative who has no interest in the property like a cousin. A real estate title attorney can help you fix this.

I bought a 2003 Honda Accord brand new. Today it hit 266K miles. Recently had a mechanic tell me that Japanese/Korean autos were the least expensive when it came to “significant” repairs. Drive out was just under $20k and I have spent about $10k on significant repairs. I replaced the a/c, rebuilt transmission, replaced steering rack, radiator and catalytic converter. There are some issues that are starting to appear that may be just too much so seriously starting to look for a replacement.

Darion, I live in the West Houston area and consider buy and hold the right strategy for my objectives, I would love to grab lunch with you one day after Memorial Day...my treat!

Boone County Tax Assessor property http://www.boonecountytax.com/taxes/default.aspx You can search by address.

I had an acquaintance ask me today how he should invest a $100k windfall. I know what I told him but what would you have told him and why? To give you a little background he is early 50’s. Excellent credit with his only debt being his home mortgage. Retirement account is adequately funded.

Once you have a real estate license, you will be held to a “higher standard” in the eyes of civil law. Be sure you understand exactly what that means and does it fit into your business plan. You may consider talking to brokers who specialize in property management as opposed to retail buy/sell, a good opportunity to learn from them and their system. You may find it difficult for a broker to sponsor you if you are not willing to make some level of commitment to working for them but you won’t know for sure unless you ask. Best of luck to you!!

I tend to have a long term focus in my overall investment strategy therefore I am most interested in a buy and hold strategy.

With more than 20 years experience as a landman (negotiate and manage oil & gas leases and other contracts/agreements related to oil & gas exploration and production) I have suddenly found myself with mental bandwidth capacity to spare thanks to the collapse in oil prices.  I literally stumbled into oil & gas landwork by accident after completing my BBA with a concentration in real estate.  I was always intrigued by real estate investing and management, but never had the connections (nor the resources) to get going down that path (this was long before BP existed).  In addition to the BBA, I have an MBA with concentration in finance and I am a licensed Real Estate Broker in Texas.  I'm impressed by the size of the BP community in the Houston area and look forward to the opportunity to make new acquaintances and to diversify my analytical and contract negotiation/management skills.