All Forum Posts by: Jenny D.

@Jeff C. Great point! I'm new to Austin and new to investing. I've been noodling on a similar thought... How can I find a good deal in a super crowded market. Our local REIA points to hot spots and encourages finding deals. I've wondered about looking toward Round Rock, Leander, Georgetown. The REIA's perspective is...too much cheap land with expensive houses. I'm curious how you would answer that in relation to the clogged, hyper competitive Austin market.

@Joe Crupi Traffic already sucks...lol. I love the idea of lots for storage. Even something as simple as a lot to park all the semi trucks hauling dirt is in high demand.  

@Brett Goldsmith...thank you for the feedback. Jenny

@Brett Goldsmith and @Chris Mason... Thanks for the insight.  I'm curious. When the house goes on the foreclosure fire sale...is an investors goal to buy the house as inexpensively as possible? For example, if $625K is owned and investor could bid and win at $300k??  Is that how that works?  

Hi BP Community,

I'm a REI newbie looking at/for opportunities. I ran across a house in foreclosure with a Reverse Mortgage.

What questions should I be asking? What research should I be doing? It looks like the owner is deceased. The reverse mortgage was for $625k. Market value is around $781k. It is going up for auction in two months. It looks to be in great shape.

Thanks for any pointers, suggestions.

@Joe Crupi..You got a point. We initially thought the same. It is uber expensive to live in Austin proper...I figured more people will shift to the subs. Traffic congestion is the one agonizing bear, however. Thanks for starting the convo.

@Aaron Klein Thanks for sharing your tips. I just started this process and decided to send hand written note cards. I thought back to how much I enjoyed receiving a handwritten note. I'm looking forward to seeing how this strategy works.  

@Joe Crupi @Cory Mortensen... Thanks for the convo. I'm entering the REI world. I recently attended a 3-day REIA seminar. They frowned on the Cedar Park, Round Rock, Pflugerville area as places with "expensive houses and cheap land" meaning the appreciation value was not very robust. The contrast was anything near the Austin downtown being "expensive land and cheap(er) houses". I'm curious about a different perspective. Thoughts?

@Bruce Lee I appreciate your perspective. I'm curious. Are you investing full time? If so, what approach do you use to identify leads (taking into consideration your "don't snail mail spam" position. I'm learning.

@Mike Fitzpatrick Thanks a bunch.