Big Profits At Texas Tax Deed Sales | Explained
ฝัง
- เผยแพร่เมื่อ 6 มี.ค. 2023
- Learn how to make big profits at texas tax deed sales.
If you would like to get started with tax lien investing we can build you a personalized 4-step investing plan. Book a free 1 on 1 call to get your action plan today. learn.taxliencertificateschoo...
Interested in how to get 18-24% returns on your investment or property for as little as $500? Check out this free course I'm giving away: learn.taxliencertificateschoo...
Maximize Your Tax Deed Profits: Learn from Costly Mistakes. Watch "Tax Deed Horror Stories" Before Investing. Expert Tips to Save Thousands!" th-cam.com/video/KDPsouf7LCQ/w-d-xo.html
Will you make a video directly for Harris County on how to buy tax default deeds over the counter?
That’s Harris county Texas. I live in Harris county and would like to go to the tax deed office and buy out right over the counter.
Subscribed! Thanks for this very valuable video!
Thanks for the great content!
Hellelo. Thanks for the video. Most of it I already knew it. but thanks to you I learned about the 2 year redemption period if the property has a Homestead exception in it.
Thanks again!
Thank you 🙏
H,i Dustin just want to thank you for providing so much value with your videos
My pleasure!
Homestead exemptions are very common. As long as the owner is living there they can file a homestead exemption. It doesn’t require a special job
Awesome content! 🔥
Thank you 🙌
Great information. I’m still on the sideline of this and trying to get as much training / information before I invest in the tax liens / deeds.
Dustin again thank you for your straightforward and easy to understand information. May i ask you a question please, if you buy an over the counter property after it failed to sell at auction, does the 6 month redemption period start from when it first appeared in the auction or does the redemption period start when you buy it over the counter on that day? Thank you so much.
Thank you for the video. I am new to all of this. My husband and I want to buy a home at auction. I just don’t know what to expect. I’ve never been to one.
Awesome!
Thanks!
Thanks 🙏🏾
Any time!
Who do you recommend to do a title search? I have an auction coming up and want to know if there’s any taxes owed or liens
what if the home owner has a lien on the property?
Great video …thank you! What happens in the redemption period if owner is deceased? There was not a will and the direct family members can’t pay the tax lien. (in Texas)
then you would get the property after the redemption period and you can foreclose on it!
How do we get a physical copy of the book ?
We used to sell the physical book but now we give it away for free as a PDF. At some point in the future we may put it back into print. I will send and update email when we do. Thanks for the question.
The redemption is 2 years in tx for a residential property or agriculture land use
6 months, only 2 years if it's a homestead!
What if it has a mortgage?
Question: If the back taxes are $3000 and you win the bid at $10,000, the owners come in and pay the tax (redeem) within 180 days... are you paid 25% on the $3,000 or the $10,000?
I've done several tax deed auctions in SC but none of them redeemed, I just ended up selling the property (after the wait and the quite title). Thanks for your help!
hey there! They pay the interest on the amount you paid, not just the min bid!
@@DustinHahnREI Thank you for your answer and time! Lynette
Nice! Am interested in the Texas deeds and the book, and a call.
How do you rent it out during the redemption period tho, if i find a tenant they sign a 13 months lease and then 3 months in the original homeowner pays off the taxes, wouldnt force the renter out of the home
In Texas, if you purchase a property at a tax sale, you may have the potential to rent it out during the redemption period. However, if the original owner settles their dues and reclaims the property, they must reimburse you for any necessary repairs or maintenance. It's important to note that the property owner cannot generate income from the property while it's delinquent. This area can be quite complex, so consulting with a real estate attorney or your local county office is advisable to understand all aspects and avoid potential issues.
Can you determine if a property has delinquent taxes by doing a property search by address on the county tax assessor website? Or just by contacting county for a list?
You should be able to see what might be there, but it's not always the most accurate. The easiest thing is contacting the county for a list
Hi Dustin, how would you suggest contacting the county?
@@DustinHahnREI
What’s up Dustin how do I book a call
Is there any way that I can use my GI Bill to purchase a house at the tax deeds I mean cuz I can get a beautiful house that's worth $300,000 for $70,000
Once I purchase the property from the auctions can go and resell as soon as I get it
No but you can rent out or you collect rent if it’s occupied
Let’s say you win a bid for $10k, and then pay $5k afterwards in post judgment property taxes. Is the 25% penalty paid for all delinquent tax expenses or just the $10k?
It's on the amount you would have bid at the sale, but you might be able to make a case for the property taxes and get that money at least reimbused
@DustinHahnREI
Have you ever got a property , then went to collect rent and the occupants inside where the owners you just got it from. ? If so... how do you go about that
Negotiations and if that fails file for eviction and have insurance first in case they burn it down
Is it possible to get the book first before taking the course? If so, I'd like to do so. Thanks!
Yes of course! Just click the link in the description and you'll be able to grab it there!
Thank you for the info. As an international investor..can you bid online?
The courthouse auctions are in person. I'd be happy to talk about representing you at a Travis or Williamson County auction when I go.
I'm in the military is there any way I can use my GI Bill to purchase homes at the tax deeds
I believe the GI Bill is mainly for education costs(I might be wrong) and doesn't directly help with buying tax sales. Maybe you can save your allowances and buy cheap liens for a few hundred in your county. You don’t need a huge amount of money to get started with this business.
How do you know if a property is a homestead exemption
To check if a property in Texas has a homestead exemption, visit the county appraisal district's website and search using the address or parcel number. The property details will show if an exemption is applied. You can also contact the county appraisal office directly for this info.
You can start collecting rent right away as new owner in Texas? Does California work the same way??
In Cali there is sometimes a 12 month redeemable clause, so you'd want to check the statues, or a lawyer to see exactly what you can and can't do in california
Any body knows what happens if property has a mortgage on it and what is the best way to find out
Yeah check out the book for more info: linktr.ee/dustinhahnREI
I wanted to know what are the risks like if the property that I won have mortgage(s) on it, do I have to pay them
In some cases, certain liens, including mortgages, may survive the tax deed sale process. This means you, as the new owner, could be responsible for settling these outstanding debts to obtain clear title to the property. It's essential to conduct thorough due diligence before bidding to identify any such encumbrances.
@@DustinHahnREI I see, thank you. Also does that mean during dead sale most mortgages get written off by the county? How do auction participants obtain lien information during auction?
Is the 25% when they pay per month for the 6 months, one time, or for the length of the lean?
Penalty.... not APR.
Question- in Dallas Texas if I buy a redeemable deed of a property and if that property has mortgage on it, what happens to mortgage? Is mortgage wiped out or stays on the property? Let’s say 180 days passes and now I own the property what happens to mortgage in Dallas Texas?
the mortage will get wiped out as long as the proper notifications have been sent to everyone who has an interest in the property! It's the same through all the states, but we always check notifications to make sure they were sent out, that way you don't get stuck with the mortgage
(n) The deed vests good and perfect title in the purchaser or the purchaser's assigns to the interest owned by the defendant in the property. As per state code.
This first sentence means i will own as much of the property as the person who owed the taxes meaning if they had 10,000 equity in the home then I will own that equity and take over the existing mortgage payments until the mortgage is paid off. If they had no mortgage or liens then i will be paying the only lien on the property IE property taxes and own 100% of value of the property.
Tax Liens and Deeds sit #1 in the list of priorities. Mortgages get wiped out and that's why often times you will see people from the mortgage banks bidding on their own property.. that way they can resell it and not lose all of their money.
Are all other liens and mortgages removed when you buy a property in Texas
Nlt necessarily. YOu need to make sure you do all the right title research to make sure it's all clear!
government liens might stay
I'm in Texas with the lien interest and the six month period. Is there a way to ditch land owner's taxes (all taxes actually) on a deed? I dont mind paying a little but not $1-3k a year. I'm gonna watch all your videos, GREAT WORK btw thank you.
Paying subsequent unpaid taxes on the property allows you to maintain your priority position and prevent other investors from purchasing a lien on the same property. Although not required, paying these taxes is advisable as it strengthens your position for eventual foreclosure if the property owner fails to redeem the lien, ensuring you maintain your rights in the recovery process.
@@DustinHahnREIwhat happens if I decide not to pay the taxes? I guess what I mean is, is there a way to not have to ever pay taxes on the land without the government taking it away?
I’m Starting From Ground Zero (Not Much Money) Which Would Be The Best Route For Me..? Deeds or Liens?
Hey Jordan! Liens are gonna be your best bet for getting started with little!
@@DustinHahnREI Thanks For Responding…
Just to make sure I understand correctly Harris county have more than 1 auction in one day ?
Harris county is broken up into 7 precincts. They have 7 auctions at one time on the same day. Focus on 1-2 precinct.
@@DustinHahnREI thank you for responding
Is Harris County an in person only or online auction also?
I’m from Harris County. All Texas auctions are live events. No online auctions Texas law.
@@Reelunique Are you saying no online auctions for Harris County? Or Texas? There are plenty of online auctions for Texas in general.
Dustin Thank you. I came to Northern California for the past 18 months on a 2 1/2 year big money new construction project. It ends April 2024 Do you have an online class I can take? I have property in San Jacinto county by lake Livingston. I'll be coming back in April with about $150k to invest in tax deeds. Thank you
Man I’m from Houston now out in Del Valle Texas working in Austin. I’m thinking about moving to North Carolina, how was it over there and what part did you go to if you don’t mind me asking
I need a book
Here: linktr.ee/dustinhahnrealestateinvesting
dustin do you live in texas?
nope.
Hello. I have a question I live in Harris County. And I live in the house, (things are a little complicated.) that the owner has passed away 20 years ago. The person that was living in the house stop paying taxes in 2019 and we are starting to run into some issues in regards to your taxes. The person that lived there now lives in Oklahoma but he told me that if I could pay the taxes I could put my name on the deed. The last time the city tried to get taxes, his name was on the court papers. He doesn’t have the deed, some squatters moved in for about three months, and they took that paperwork because he was in Oklahoma. So he doesn’t have it. What can I do to possess the house if I’m going to pay taxes on it? If it sounds a little too complicated, I’m willing to give you my phone number. I just need some help on the direction I should take, but the constable did come and serve papers, but they were asking for the person that died 20 years ago. Thanks.
Good day Alfred, have you contacted the tax assessor in your county? To find out what steps can you take?
If you have, and they weren’t any help. I would say, as far as paying the taxes and putting in your name on the deed. You would have to investigate if it’s on the struck off list and request a sealed bid or a silent bid. Then you can obtain a lien on it and of course I would assume it’s at the end of its redemption period, by now so you should be able to attain it pretty easily I would assume, and I say that very strongly…, I would assume.
@@nene3844 yea, I have an update. Hi just payed the taxes for 2023. The rest of the taxes to get t current is about $5000. They have men on a plan (as soon as I pay of the courts and legal fees). To be on a $498. A month for 12 months, payment plan. Nothing about getting the deed or transferring it or any other avenue to get the house.
@@nene3844 thanks for the info.