All Forum Posts by: Silas B.

Awesome Thanks for the replies! 

Another question - We are thinking maybe a 2000 sft home (~$1 per sqft for rent) might make sense for high rent / bigger home for single family home. Are those harder to rent in your experience then a couple of smaller units? Thanks so much!

Also - Would you wait to buy, or are current prices pretty average currently?

Thinking about investing out of state (for a rental property) in South Western Lubbock TX and had a few questions:

1) For those already doing this, do you prefer college kids rentals or single family homes? (OR duplexes?)

2) Taxes....sounds like some pretty high taxes, especially as you get into Wolfforth - does it pay off through high rents (SFH) and longer term tenants in a nicer area?

3) Any other advice? New to the forum, thanks!

Here's what I have for Due Diligence - can anyone think of anything else that would be good to check?

• Get List of Properties and Verify properties that have homes on them

• Write out list of homes interested in

• Verify Parcel # on Tax List and Parcel # on sites like Zillow is the same (information checks out)

• View Parcel # on County Parcel Map to check lot lines of Parcel #

• Use Melissa.com to find out owner and cross reference with County Tax Deed List’s Owner

• Check County Records for LIENS on Owner(s) (All government tax liens stay with property)

• Check County Records for any other potential problems, judgments, or problems

• Check Zillow Tax History for potential Mella Roos or extraordinary tax issues

• Check Zillow for HOA fees, rental value, potential market value

• DRIVE BY interested properties AND Neighborhood to get an idea

• ASSESS condition of roof and outside of home (also any clues to inside, fires, etc)

• DETERMINE estimated costs to fix home (and insides) and exit plan

• Find out if owners have filed for bankrupcy? (Pacer)

• Find out county rules about evictions (some counties don’t allow evictions if tenant is over 60)

• Find out about pulled permits from City Building Department

• Find out about any EPA waste or problems with that location

• Demolition scheduled? (City Building Department)

• Get an O & E report to see if there are any current mortgages or other current issues

• DETERMINE MAX BID

Yep, I have read that article.....I guess I am still trying to learn about the risks, like what if the owner claims bankruptcy the day before the auction.....or what if there is a medi cal lien or silent lien I would be unaware of? 

New Here! I am looking for advice or wisdom - here is my situation. I am in Northern California I would like to purchase a rental home to provide some additional / passive income. I am very handy so a fixer is okay if its mainly cosmetics (floors, doors, trims, paint, etc..). Able to pay cash.

1) Should I be looking in a highly populated area (which tend to be expensive with lots of rentals already) or a lower populated area? (50K -100k population?

2) How should I set my maximum price based on the rent that I would receive? Any tricks to this to make it worth it in the long run?

Thanks so much!

New here! Looking at buying a tax deed sale home in California. Any risks I should be aware of? I have driven by, checked clerk records for IRS liens, or other tax liens, and called city building department about any permits pulled and code violation for any fines on these properties. Looks like the owners probably passed away and the kids didn't think to pay the taxes. Any Risks I need to really watch out for before bidding tens of thousands on these homes? Thanks so much! (Homing to purchase, do a quite title or title certification, fix up after the 1 year period where the previous owner can challenge in court, and then turn into a rental property). Do I need to wait a year to do the Quite Title or Title Certification in California?

New here! I am trying to learn about Tax Deed Sales (in California) and so far I have learned how to find out about the property through county and city clerk records, zillow, double check the parcel # to make sure its not a property line or unwanted slice of land, do a drive by, come up with an idea of what the max bid would be, and I am aware of the 1 year right for the owner to redeem the property (in California). I am trying to find out more how to minimize risks, specifically with land with a home on it. When I call the county office of where the auction is, I was basically told that they only send a notice of sale letter to the owner on file and not to any potential lends, heirs, or other people who might have a stake in the property. Any advice would really be appreciated! Hoping to get a house at a deal, fix up, and use as a rental property for the long term. First time looking into this (months of researching lately though) and any advice would be really appreciated. Thanks so much!