All Forum Posts by: Jean Norton

I'm interested in knowing people's experience with this too.

I'm worried when I call a contract and his voice mailbox is full. I've found project managers that can do this, but haven't had much luck with contractors.

I would look for existing rehabbers in the area and determine their level of skill managing contractors. If they seem to be able to handle them efficiently, then make them an offer to manage the project, either through a fee or a %age of the profit.

Search for Bob Hunter. He runs a group there and is a great guy. Tell him I sent you.

Each state is different. The sales are administered by the county.

Each state is different, and yes, your scenario could work.

Now what happens in Texas is the property goes for a highest bid. This final bid is usually much higher than the taxes owed, because most other liens are extinguished. Now let's say someone owes $10k in taxes, and it sells at the courthouse steps for $40k. There is a 50% redemption fee - my question is if someone wants to get their property back, do they pay the 50% of the $10k plus what the other investor paid to get the property? Or do they pay 50% of the highest bid?

You can easily seller finance at the $130k. Then either wait for the VA loan to refinance your loan, or sell the loan to a note buyer to cash out. Be sure to structure the loan with a high interest rate. This will motivate the buyer to refinance quickly, and also make it more attractive to a note buyer.

I'm no expert, but I thought someone could own a house for 2 years and then sell without paying capital gains tax.

Another option would be to transfer the deed into a family trust, then change the beneficial interest to you - but you may want to consult an attorney on this.

Builders will "pre-sell" in order to raise money for the construction. If this builder has a good track record, OR if other builders in the area have a good track record then you feel safer going into this. However, some builders us this to raise money and never finish the project, and you are then out your money. Be careful.

On linked in, you may mention that you currently invest in real estate. I have that on my profile, but that doesn't get me much. I get most of my activity on Facebook, where I AM a real estate investor first.

Also, wherever you are, whatever you do, always tell people you invest in real estate. You will be surprised at the opportunities your attract when you present yourself that way in public.

Continue to network in the areas this person networks? Otherwise, I think you've got it. Be consistent.