All Forum Posts by: Gary Hurst

Curious if anyone has a comparsion or likes or dislikes. Thanks

What would you recommend?

No you dont have to use a HUD broker but from my experience they know how to submit the offers. Usually the first 10days or so you as an investor can not bid only owner occupied and some other type of organizations. Once that time has passed then it opens to investors.

I think it depends on your area, on how to bid. Some go for full and some get into a bidding war. If you like the property and the numbers make sense get it. Figure out what the top dollar you will go and dont go past that.

There are tons of other sites

Homepath.com

Bidselect.com

Williamsauction.com

auction.com

hubzu.com

homes.com

hudsonandmarshall.com and some others I dont remember. Good luck

Yes, I think so. We have seen prices in Central Texas rise. Properties that we could by for 40,50,60K are now selling for 60,70,80K. Now some of these are coming back on market after the sale. So, I think some of the rise in prices are newbies coming in and over bidding. But, yes I think its going to cost a little more due to the corporate investments.

Howdy Ya'll, We have 10 single family with 5 paid off and approx 550K in equity within all 10.

I'd like to pull out the equity to purchase more properties. What can you tell me about Blanket loans? Also, we are going to retire in two years. I am 52 she is 42. We will not stop working altogether but cut way back. Is this a good strategy or should we continue to pay off the other 5 and pick up deals as they come. I think in the next 2 years we could pay off the other 5. Thanks for any suggestions.

Thanks, have to be a Pro to use?

From the article what program is this?

I bet you can still find some deals. And where you are,Detroit I think is going to be a gold mine. There are a lot of plans to try and get Detroit back on its feet. One plan includes lowering the Federal Income tax to 5% and Capital Gains to 0% If this happens hold on the Boom is a coming. Good luck.

Awesome stuff! Its a cultural thing with the wife (no debt). We have made a deal she gets to pay off as much as she wants for the next two years to give her that monthly income she wants. Then we will retire and I get to play real estate investor. Thanks guys for all the great numbers.

My wife and I differ on this. She wants to pay off each house and I'd rather use our cash to purchase more property. Example She has 50K and can pay off two of our houses which will of course increase our cash flow. I'd rather use that cash and purchase 2 or 3 additional houses. That would probably cash flow about 600 per month for 3 or 400 for 2, plus the equity capture of at least 10-15K sometimes more per house. With her example our cash flow will increase from 400 for the two to 1100. We have 10 residential and 1 commercial property now we have 5 paid off. I want to tap that equity and purchase more residential or partner with someone to purchase apartments. What do you think or what argument can I use to swing her my way?

THis is fun stuff! First make Darn sure what the laws are in your state. In Texas non Homestead is 6months redemption period and 2year if Homestead. But Texas rocks because it is 25% first year interest then 50% in second year. But, But, make sure you do your due diligence because if a lien owner is not mentioned in the judgement you own the lien. Could be scary if you dont do the work. But huge profit possibility. Example bought a 2.9 acre tract of land for 5K waited the 6 month and sold it for 34K. Good luck