All Forum Posts by: Karl James

@Jamie Jacobs 

I, too, have had trouble doing the @ Name thing.  Here's where I've gotten so far:

As you type @Name - do it slowly and watch carefully as you type for the BP user's profile picture and name to appear just below the text box (where there is typically a [Follow Topic] button) .  For example, when I did your name above  - your picture / name appeared below the text box right after I typed "@jam" - if I typed too fast or didn't notice when it popped up, it disappeared.  As another example - for Jerred, it popped up after I had type "@jerred m" (I didn't select / tag it though - just tested it). 

As best as I can tell, it will pop up below the text box a different points (characters into typing the name) for different names.  I am guessing the system uses an algorithm that looks at who's already in the thread, who you've replied to or sent messages in the past, and then perhaps the entire user data base, etc. to drive how soon it finds / suggests a user to display.

Once the user's picture / name is displayed under the text box, click on it and it will appear the point in your post you are at and you can type the balance of the message.

This may not be as good an explanation a more experienced user could provide but it's where I've gotten by trail and error.   I hope it helps.  I wish you well on your journey to figuring where you fit at this season in this real estate thing we got going in the greater Houston area.

Steve Raymond I don't' know if this would work for yours but perhaps check with your county appraisal office or tax assessor office to see if they have any property record files available at zero or reasonable cost. I ended up having success by getting on the county's distribution for their weekly electronic taxes due file. It doesn't have the owners who have paid all their taxes (I.e. Zero balance) but I found that because taxes come due at end of year the files from October to December 31 had an incredible amount of information. Cull it for out of state owner address of the property type and assessed value range you want. Then start making those cold calls.

@Kenneth Ziembo - Congratulations on your deal.

I know its a bit late to this forum but I just posted a write up on my blog titled "Cold Call Paralysis – How I am Attacking It."  Not rocket science, just a way I trying to mitigate the anxiousness.

Karl

While doing research on properties via the county appraisal district site I run across various deed types.  Many of them I understand (Warranty, Special Warranty,  Quit Claim, Tax Deed). 

Can anyone share the specifics of what a "Conversion" deed means as it relates to Texas real estate deeds?

Thanks,

Karl

@Scott Dixon / @Bryan L - Thanks for the feedback.  I closed the purchase on Friday morning 12/19/14 at a total cost to me of $16k.  I called some adjacent owners and contactors in the afternoon and had a verbal deal at $38.5k before dark with one a very motivated contractor.  Executed contract and buyers earnest money arrived at Stewart Title the next business day.  Schedule to close the sell in 2 to 3 weeks. 

Thanks again.

Karl

So, a few days ago I managed to get a 1/2 acre vacant lot in a very nice subdivision under contract from an out of state owner.  This is my first purchase loosely following techniques like those of @Seth Williams (thanks Seth!) and Rick Dawson (Deed Grabber).   My purchase deal is scheduled to close in a couple weeks and I am contemplating how to best flip the lot.

I am buying it for $13,500 (paying $10k cash to seller + paid seller's back taxes and court costs) to prevent it from going to Constable's tax auction.  I figure I'll have about 6k in it after closing costs.  I had the executed contract in hand before I paid the back taxes and court costs. ($3 to 4k at risk if the seller walk's the deal; guess I'd try to put a lean on the property if I found myself in that position) 

Within the last two months, two lots have sold nearby (same subdivision) for $55k and $57k respectively.  Two more are currently listed at $76k and $79k .  The market is very strong in this SW Houston area (Fort Bend County; i.e. Richmond / Rosenberg / Katy / Sugar Land / Fulshear.) 

I could engage and real estate agent and list it well below the other two lots.  Curious what other approaches have worked well for any BP colleagues, especially anyone whose flipped lots.

biggerpockets.com forums, search tax liens or tax deeds.

Google the words tax Leins or tax deeds and podcast. If you are interested in a particular state, add that to the search criteria

I know it might seem to be disjointed and time consuming too seek insight be trolling through threads but are so many useful posts on here.

In the Houston, TX area the area real estate association, via their HAR.com site, provides a price range for sold properties. Redfin.com provides a specific price including a sale date and MLS #. The Redfin specific numbers seem to always be within the realtor association website range.

Looks like Redfin includes properties in RI. Here's a random example I picked.

http://www.redfin.com/RI/Chepachet/31-Cooper-Rd-02814/home/51861906

Don't know if this helps.

I am looking for ideas and opinions (not legal advice of course) from BP colleagues that might help me an approach (for which I’d consult a lawyer) to solving a challenge.

I am new to real estate investing in Real Estate. I live west of Houston and have begun seeking to buy vacant land / lots with past due property taxes which have not yet gone to tax sale.

In a couple instances, I ran into this situation:

-Have an owner who is a willing seller

-Past due taxes are a relatively large

-Too few comps to ascertain resell value with enough certainty to ensure a profit

I am looking for an approach that would allow me to legally market the property for the owner and split the profit with the owner if I am able to locate a buyer at a price sufficiently high for the owner, and me, to be satisfied.

In these instances, the magnitude of taxes due has increased the risk of finding a buyer willing to pay enough to make a profit if I were to buy the property outright from the past-due owner and resell.

I have contemplated a couple possible approaches:

1) A purchase option with the past-due owner for a period of time during which I would market the property. I’ve seen articles and heard podcast that suggest this would give me an equitable interest in the property and enable me to legally market it (without a real estate license) and then do a double close

2) Secure a special power of attorney from the owner granting me the authority act on their behalf to market the property for a defined period of time and receive a portion of the profit from any sale at closing.

Any thoughts on either of these approaches or any other approaches that would might be legal / illegal, particularly in Texas?

Original Question Answered - 80 to 90% of Texas tax deed auction properties go unredeemeded. The percentage for land is near zero.

Source: I attended a presentation by Arnie Abramson last week at the Real estate Investment Club of Houston (RICH). I asked the question of Arnie.

Arnie Abramson is a national speaker on Texas tax deed sales and is the Texas provider for tax deed purchases for several of the national tax lien gurus seen on the internet. He is past president of the Texas Real Estate Investors Association (TxREIA) and is a co-founder of the REI EXPO.

His company, Texas Tax Sales Resource Group LLC, provides complete Turnkey facilitating and monitors all counties in Texas for tax sales every month.