All Forum Posts by: Shawn C.

I live in Austin, TX and basically it comes down to disclose, disclose, disclose. I have always done this and have been totally transparent in my dealings. I also have the sellers sign documents stating they understand I am either going to buy this property and sell for profit or wholesale the contract to a end buyer for profit. 

So for me there is really no change on how I do business. Now for people that are unethical, I think this will change their business drastically.

As far as enforcement, I think it will be handled on a case by case basis as the complaints roll in. The complaints will get faster investigation if the complainant(s) contact their state reps directly. They almost made wholesaling illegal in Texas but investors banded together and were able to come to a middil ground with state legislators. 

I know this is probably a dumb question but I am going to ask it anyway.

What is PUP insurance? I have never heard of that or that type of policy.

I am located in Austin, TX and would be interested in San Antonio lists at well. 

I think realistically it comes down to three things.

1. The quality of the list being sold.

2. The motivation of the sellers on that list.

3. The number of times a investor is going to market to the sellers on the list(s)they purchase.

Just my three cents worth.

There are a bunch of free Austin meetups already around Austin but I am always looking to expand my network so please keep me posted,

@Account Closed  Yes, I took the ARB hearing and won. That is how I received a 80K price reduction in my property taxes. Good luck and I hope it goes well for you.

I would contact the Texas State comptrollers Property Tax Division. They may be able to give you some insight. If nothing else, they can explain the arbitration process better. I do not believe the person you were talking to was correct.

Years ago (before the charged for arbitration) my house was fully gutted because of a mold issue. I took pictures in and the employee I dealt with told me he used to own a construction company and I only had 10K worth of damage. I told him that's probably why he doesn't own a construction company any more because I had way more than 10K worth of damage (I probably should not have told him that). He also told me that if went to the arbitration board (which is supposed to be independent of the taxing authority). This is why there is a $450.00 fee (they may have raised the fee) to file. The arbitration board is paid out of this fee.

I went to the board and won my case. They reduced my property tax at that time by 80K. I had pictures that were dated before the first of the year and taken and dated right before my hearing. They stated to me I won because thy look at the condition and value of the property as it sits on January 1.

I think all clerks are trained to discourage people from going through the arbitration process because that is more money for the taxing authority.

I understand your situation is not that same as mine was but it is my hope this will give you and others more insight in making a decision on if it is worth while going forward with trying to get a property tax reduction.

This is another investment arena I am also exploring. I would love to hear more about this subject.

I have worked with AJ Shield with Bay Mountain Capital. He is a great guy to work with. PM me and I will give you his email address.

If you want to sell the property I would list it for sale on BP. I would also list it on every social media site and see if you get any bites. I also would do the same for renting it out as it is and also with the options mentioned above.

Good Luck!

@Russ Brantley

Thank you for the information. Multi-family is new to me but I always wanted to get into it. That is how my father made most of his money.