hey Cal I just got back from the harris county auction and people were bidding so high! they were paying more than the value of the property! I want to get in this but dang I don't see how an investor can make a profit with what I've seen so far.
+Chris D No problem Chris. He's the only guy I know in Houston that does title searches. I'm sure there are others though. If you do use him, mention my name if you wouldn't mind. He gives half price title searches for referrals.
when buying property in Harris County is it necessary to do a title search before buying them? do you do the title search yourself or your partner or do you pay a company? if a company do you have any suggestions?
+Chris D It is really important to do a title search. Although most liens and mortgages are wiped away by the tax sale, government liens may survive the sale. You will also want to make sure that all parties on title were property notified of the tax foreclosure.
If you do not do a title search any outstanding debts by the title owner can be yours to fulfill. (IE) property owner owes someone 50 thousand dollars. They used the title of the house as collateral then they are defunct on the payments. Then they can foreclose on it. Always go with your gut and walk away if you get scared at anytime. Research is key.
Yes, it is good to do a title search on tax deed properties you plan to bid on. Most liens will be wiped away by the tax foreclosure but you will want to be aware of gov't liens that may be on the property.
Here in Mississippi they give the owners 2 years to pay off the taxes after someone buys them. After that the person who bought the taxes can obtain the deed and property.
Great video, however if the property is worth $45k and the starting bid is 9k, than most likely it will be sold for 19k or more. Now let's add your fixing cost. Tittle cleaning is expensive and time consuming. They can cost you over 10k easily. Plus the fix of the house for at least 20k .19k+10k+20k=49k against property that is worth 45k. You are losing 2k in equity. Not to mention that if the property has lien holders you must pay it witch that cost alot. I know is an old video but that would be my analysis sis for this deal.
Rick Caponero Hey Rick, sorry for taking a month to respond. I don't go down very often as it gets really expensive. I typically just use my team to check out and video properties for me and bid for me at the auction. I wish I could go down every month because it is so much fun but I think I would dwindle away all my profits. I'm working on some new videos for a property I just won at the auction this month. Stay tuned.
Appreciate video content! Sorry for the intrusion, I would love your opinion. Have you considered - Tarbbatigan Vintage Sales Tip (Sure I saw it on Google)? It is an awesome one off guide for finding government and police auctions for cars trucks and SUVs without the headache. Ive heard some interesting things about it and my friend finally got astronomical success with it.
Probably. But I'd rather take the risk of being told to leave than to bid on something that is going to result in me and my investors losing thousands of dollars.
Great question. Finding money is a constant challenge for most investors. I've typically joint ventured with people who have money to invest in real estate but who lack experience or time to go out and find property deals themselves.
Hi thank you for the video. I am looking at 3 properties in tax deed auctions in Florida for January. I’m new to this so if I may ask, if title search comes clear of government & other liens and I am the winning bidder. Do I automatically get clean title or do I still have to file for quiet?
Dede Rodriguez if the title report comes back clear and all parties that have interest in the property have been properly notified prior to the foreclosure then you are good to proceed. It might be a bit different in Florida, but in Texas, you still have clouded title until the redemption period has expired. There are companies like Tax Title Services that can help you speed up this process and get clear title so that you can sell the property or refinance it.
Cal Ewing thank you!! I have contacted the company you mentioned as I saw you recommend it in another comment. I thank you again for getting back to me so quickly. I have subscribed. Hope to keep in touch. Diane
@@CalEwing_RealEstate what do you mean by redemption period ? Like of the owners pays the taxes and fights to get back the property ? Im going to bid on a property in harris county next Tuesday
Hi Cal, I just stumbled upon your channel. Great information! Question: How quickly can you re-sale a tax deed property? Also, if you get a quiet title, do you still have to wait the 6 month redemption period before selling? Thanks!
Hi Daniel, I strongly recommend you speak to a real estate attorney about this, as there are so many details that go with any specific tax foreclosure suit. However, if you can get all parties with title interest to sign over their right of redemption, then you should be able to sell the property right away. You will want to work closely with your attorney and title company on this to make sure there are no issues. Sorry that it's so vague but it seems like it all depends on the title company and the specific case. I have talked to title companies that won't insure a tax deed property for 5 years or even longer, others are really good and will work with you to get title insurance as fast as possible.
+Chris D Chris, I hear ya man. It took me 6 auctions to finally win something. Lets set up a time to chat on the phone. Email me at cal@investmentpropertyusa.ca and we can set something up.
Looks pretty good 👍
Thanks Ronald.
hey Cal I just got back from the harris county auction and people were bidding so high! they were paying more than the value of the property! I want to get in this but dang I don't see how an investor can make a profit with what I've seen so far.
Thank you Cal
+Chris D
No problem Chris. He's the only guy I know in Houston that does title searches. I'm sure there are others though. If you do use him, mention my name if you wouldn't mind. He gives half price title searches for referrals.
when buying property in Harris County is it necessary to do a title search before buying them? do you do the title search yourself or your partner or do you pay a company? if a company do you have any suggestions?
+Chris D It is really important to do a title search. Although most liens and mortgages are wiped away by the tax sale, government liens may survive the sale. You will also want to make sure that all parties on title were property notified of the tax foreclosure.
+Chris D I use Richard Cinta at taxtitleservices.com for my title searches. He will do all that I mentioned in my previous message for Harris County.
If you do not do a title search any outstanding debts by the title owner can be yours to fulfill. (IE) property owner owes someone 50 thousand dollars. They used the title of the house as collateral then they are defunct on the payments. Then they can foreclose on it. Always go with your gut and walk away if you get scared at anytime. Research is key.
Yes, it is good to do a title search on tax deed properties you plan to bid on. Most liens will be wiped away by the tax foreclosure but you will want to be aware of gov't liens that may be on the property.
Here in Mississippi they give the owners 2 years to pay off the taxes after someone buys them. After that the person who bought the taxes can obtain the deed and property.
Great video, however if the property is worth $45k and the starting bid is 9k, than most likely it will be sold for 19k or more. Now let's add your fixing cost. Tittle cleaning is expensive and time consuming. They can cost you over 10k easily. Plus the fix of the house for at least 20k .19k+10k+20k=49k against property that is worth 45k. You are losing 2k in equity. Not to mention that if the property has lien holders you must pay it witch that cost alot. I know is an old video but that would be my analysis sis for this deal.
great videos. how often do you take a trip down there to the auction?
Rick Caponero
Hey Rick, sorry for taking a month to respond. I don't go down very often as it gets really expensive. I typically just use my team to check out and video properties for me and bid for me at the auction. I wish I could go down every month because it is so much fun but I think I would dwindle away all my profits. I'm working on some new videos for a property I just won at the auction this month. Stay tuned.
Appreciate video content! Sorry for the intrusion, I would love your opinion. Have you considered - Tarbbatigan Vintage Sales Tip (Sure I saw it on Google)? It is an awesome one off guide for finding government and police auctions for cars trucks and SUVs without the headache. Ive heard some interesting things about it and my friend finally got astronomical success with it.
Are you legally trespassing when your inspecting? Even if you're walking around? By the way, the volume on your videos is very low.
Probably. But I'd rather take the risk of being told to leave than to bid on something that is going to result in me and my investors losing thousands of dollars.
@@alexmacias1515 or lethal force. I wont take the risk of doing that
Where do you get the cash to bid?
Great question. Finding money is a constant challenge for most investors. I've typically joint ventured with people who have money to invest in real estate but who lack experience or time to go out and find property deals themselves.
@@CalEwing_RealEstate thanks
Hi thank you for the video. I am looking at 3 properties in tax deed auctions in Florida for January. I’m new to this so if I may ask, if title search comes clear of government & other liens and I am the winning bidder. Do I automatically get clean title or do I still have to file for quiet?
Dede Rodriguez if the title report comes back clear and all parties that have interest in the property have been properly notified prior to the foreclosure then you are good to proceed. It might be a bit different in Florida, but in Texas, you still have clouded title until the redemption period has expired. There are companies like Tax Title Services that can help you speed up this process and get clear title so that you can sell the property or refinance it.
Cal Ewing thank you!! I have contacted the company you mentioned as I saw you recommend it in another comment. I thank you again for getting back to me so quickly. I have subscribed. Hope to keep in touch.
Diane
@@dederodriguez5318 Excellent! I hope they can make the process easy for you! They did a good job for me.
@@CalEwing_RealEstate what do you mean by redemption period ? Like of the owners pays the taxes and fights to get back the property ? Im going to bid on a property in harris county next Tuesday
Hi Cal, I just stumbled upon your channel. Great information! Question: How quickly can you re-sale a tax deed property? Also, if you get a quiet title, do you still have to wait the 6 month redemption period before selling? Thanks!
Hi Daniel, I strongly recommend you speak to a real estate attorney about this, as there are so many details that go with any specific tax foreclosure suit. However, if you can get all parties with title interest to sign over their right of redemption, then you should be able to sell the property right away. You will want to work closely with your attorney and title company on this to make sure there are no issues. Sorry that it's so vague but it seems like it all depends on the title company and the specific case. I have talked to title companies that won't insure a tax deed property for 5 years or even longer, others are really good and will work with you to get title insurance as fast as possible.
I would like to talk to you sometime
+Chris D
Chris, I hear ya man. It took me 6 auctions to finally win something. Lets set up a time to chat on the phone. Email me at cal@investmentpropertyusa.ca and we can set something up.
#Chris D great videos. how often do you take a trip down there to the auction? @strykerzr350
I have a team in Houston so I don't need to go very often. Maybe 3 times per year.
I sent you an email with my phone number