All Forum Posts by: William Knox

BP Heros,

Looking for a CPA for tax planning and general accounting. Would prefer the Lubbock area but that is not a deal breaker. Particularly interested in someone who has experience with Short-Term Rentals. Anyone have any personal recommendation worth reaching out to?

Thank you!

@Nathan Frost Check out "The 16% Solution". Great break down. Last edition was 2009 so info might be a little dated but it does a great job of outlining the overall structure. 

This is my basic understanding for Texas (Please correct me if I am wrong). It is a tax deed state so you are purchasing a redeemable deed. Redemption periods differ. 2 years for primary residential properties. 180 days for anything else.  That means that the owner has the redemption period to redeem. As an investor you would get your initial investment back plus a premium of 25% if redeemed in year one and 50% if redeemed in year two. Not a bad return (especially during this market!) The Texas Property code isn't the most fun to read but it is pretty cut and dry (always go to the source document!). 

https://statutes.capitol.texas...

So basically you are holding the deed as an investment for the length of the redemption period. If it is not redeemed then the property is your and you are cleared hot to do with it what you wish. It sound like from @Charles Thomas that you can purchase the owner's redemption rights which would negate them potentially redeeming the deed. The Texas Property code expressly forbids this (Section 3, Article XI, Texas Constitution.) and says that any such transfer is void. I'd talk to a real estate attorney. 

I think it is a fascinating vehicle and would love to learn more about it. Let me know if you end up following Alice down the rabbit hole as I would love to hear how it goes! 

Mark, 

Check out https://creekviewrealty.com/

Flipping the script on how transactions get done in my opinion. Are you guys listing the property yourself? I see no reason why people use agents when you can get far better results (returns) and representation by doing the work yourself and hiring a real estate attorney (far more qualified). 

Would be interested to hear how things go for you!