All Forum Posts by: Jason Vo

@ Blair Poelman: 

Thanks for your input, that actually leads me to other questions, How reliable are these Title searches? Will they be able to give you a 100% accurate information about the lien statuses of a property? If not, is there another method that we can take? Can we buy a Title Insurance at the time we got the deed? 

Hello BP, 

I'm new to RE Investing and ready to hit my very first deal at the HOA auction, but I have not been able to find a clear answer for the post process after acquired the property deed thru HOA auctions. I know HOA in Texas is not a super lien so whoever wins the bid will be more than likely subjected to senior liens which possibly be either IRS or Mortgage lien. So, let's say you won the bid and you got the deed. But while waiting for 180 days redemption period, if the Bank forecloses that property, your lien would be automatically wiped out and you would lose your investment because in that case you are minor lien.

So my question is that how we could prevent it from happening. What should we (as successful bidders) do after acquired the property, could we call the Bank and let them know that we got the deed? Has anyone done it before or is familiar with this type investments?

Thanks in advanced.

What specific info are you looking for? I noticed that all the info are taken from the county's database which is almost 100% accurate.

@Fred Heller Do you there is possibilities the flood map will be changed for those that are not in the flood zone but were flooded twice since last year?

If I were you, I would spend money to educate myself anyway and care less about tax deduction. But if you have some kind of 1099 income, then yes, you can claim under education or business expenses.  

Count me in !!!! @Joe Gonzalez

@Victor Rios

I think the market will more than likely turn to places that did not get affected during this flood. 

@Charles Fletcher

Glad to hear that none of your rental house got flooded but I have to say that Harvey hit us hard, there's thousand of properties that are high elevation and never been flooded before got flooded. You just never know. 

My best advice would be stay as far as you can from the reservoirs, rivers, creeks, and flood zone. But that is still one of the risks that investors should take in consideration when purchasing investment homes. 

Agree with Jeff Greenberg

In Texas, the buyers can seek legal actions against the seller in such circumstances but you will need an attorney to represent you. 

One of the factors but not huge in my opinion, although homes in decent/good school will expose to more tenants. It also depends on what kind of tenant you target to. To me, if home is in good condition, right price, it will get leased out.