Texas Tax Deed Investing.

[hitman1978]

Hi all. I'M a tax deed investor in Austin Texas, but I invest all over the state.. Is anyone else investing in and around the Texas area? If so, lets talk shop.. I'm interested in talking to like minded folks..

[Sparta]

Good for you, Hitman. Kick people while they are down. If you are not part of the solution to the corrupt real estate system, then you are part of the problem. I have, in fact, bought tax-sale certificates in the past ... I felt a lot better when I quit. Good luck.

[hitman1978]

Sorry you feel that way Sparta. To each his own. Most sales that go to auction have been passed due for 5 years or more. If the county continues to allow this, schools, roads, services suffer.. they need to collect taxation for these services. I don't make the rules, I just play by them.

Edited March 25, 2012 by hitman1978

[skitealwedrop]

I have explored the potential investment in Texas. My step dad clued me in. Texas is not the market due to legal issues. Other states are possibilities if you do your homework regarding each property. The investment is complicated at best. Inspect the property and understand the zoning issues.

[hitman1978]

I have explored the potential investment in Texas. My step dad clued me in. Texas is not the market due to legal issues. Other states are possibilities if you do your homework regarding each property. The investment is complicated at best. Inspect the property and understand the zoning issues.

"

Well, I'd have to respectfully disagree. Texas is actually the best state to invest in with tax deeds. Knowing how to perform title search and performing proper due diligence is a must.. the laws in Texas are quite clear regarding the rules.. I have plenty of experience dealing with this form of investing, so from my standpoint. Its one of the best opportunities out there..

[skitealwedrop]

"

Well, I'd have to respectfully disagree. Texas is actually the best state to invest in with tax deeds. Knowing how to perform title search and performing proper due diligence is a must.. the laws in Texas are quite clear regarding the rules.. I have plenty of experience dealing with this form of investing, so from my standpoint. Its one of the best opportunities out there..

Maybe we should converse offline. Send me a PM. I'm intrigued with the investment. My step dad put the bug in my head. We are die hard business people. I would be interested in learning your thoughts.

[hitman1978]

Maybe we should converse offline. Send me a PM. I'm intrigued with the investment. My step dad put the bug in my head. We are die hard business people. I would be interested in learning your thoughts.

I would love to share my knowledge with you. I can't find that darn p.m. option however.. may by you can p.m. me your email ..

[64jaguar]

Good for you, Hitman. Kick people while they are down. If you are not part of the solution to the corrupt real estate system, then you are part of the problem. I have, in fact, bought tax-sale certificates in the past ... I felt a lot better when I quit. Good luck.

I too was a real Estate investor previously Sparta, The People are ignorant of the Law and thus the Banks Steal Your home, not exactly the same with Tax Deeds but Taxes are another lighting bolt. Where I live in the Northeast Taxes on inflated home values are rediculous. Many people own homes they have mortgages on for $500,000.00 on a home now worth $350,000.00 and the towns keep taxing them on inflated values. The fact of the matter is that you really don't OWN your home, the State does because All Recordings in the County records are Not proper recordings and every home is considered abandon. You can correct these filings by Accepting the Warranty deed that was given to you by the Grantor. If you look at your warranty deed you'll see that the Grantor signed it but YOU, as Grantee, didn't. Once you file a corrected Deed, you are the proper owner and it takes any control away from the state. The same goes for DEEDS of Trust. You, as the Grantor gave the bank a Deed of trust or a mortgage but they NEVER signed and accepted it as the Beneficiary. The Law says if they don't accept the Deed of trust as the Beneficiary then the Grantor has the right to Revoke it. Go do it ! If you go back to English law and the Books of authority by Blackstone, Lord Coke and Bouviers you'll find all this documentation of law where they confirm this. Once you are the Proper owner with a proper assignment that goes back to the original Land patent then the Taxing authority is Gone. Tell them to go Scratch !! Here's a link to a good law book from NY. My link All Mortgages are Fruad as well because the alleged Lender, Who Never loaned you any money anyway, Never signed the Contract. They then take the Funds YOU created by your signature and go out and invest it as a REMIC, "Real Estate Mortgage Investment Contract". When they do this and they do it on 99% of the Mortgage Notes, they separate the Mortgage and the Note therefor severing the Security in the Real Estate. Greedy bastards are investing these Notes and money (debt) you created and they still want to steal your house. This is the the biggest fraud / money scheme in the History of the planet.

Sorry about the screwed up edit!

[Sparta]

Thanks, Jaguar. Great to see that there are increasing numbers of people out there that are seeing what has been going on. One can rationalize that "I don't make the rules, I just play by the rules" but if they really knew how corrupt those rules are, they might realize that buying tax deeds is a very dangerous path. An investor might think he has a deed, but maybe someone that is ahead of that investor on the chain of title figures out what has been going on, then does something such as you suggest ... accept the deed. Guess what? The investor's deed is kindling.

People are waking up, and they are using lawful methods to re-gain their rights, such as the one you suggest .... and more often than not, they are winning. Those that refuse to see it, go ahead and continue to "neg" me, then I will cry you a river when your tax deed turns into a worthless piece of paper.

[hitman1978]

Guys, I understand your concerns and your reasoning. I'm not sure where you guys have invested, but I invest only in Texas. I know the laws in my state, and I have invested in over 60 properties, and never once have I'm had an issues with my deed becoming worthless. paper. If you understand the difference between a tax lien state, a tax deed state, and a hybrid state, then you know that each one gives the purchaser a different type of interest in the property. Texas is a hybrid state, which means at the auction, when you win the bid, you become the owner and are given a sheriffs deed. The original owner of the property that failed to pay their taxes for 5 years is given one last chance to regain their property... this is known as the redemption period. In Texas, if a home is non-homesteaded, the original owner has 6 months to pay back the winning bidder, plus a 25 % penalty. If the home is farmland or homesteaded, the redemption period is 2 years, and the penalty is 50% after one year. A tax deed is a priority Lien in Texas.. the only lien that is superior is a IRS lien, state lien, hospital lien, child support lien, and a mechanics lien. We run title to be sure the property does not contain any of these liens. Believe It or not, a tax deed even wipes out a mortgage. If 100k is owed to a bank, and the home is worth 200k and the bank was properly notified of the sale of the property, and they fail to pay the back taxes before the sale, or they never go to the auction to out bid the other bidders, then they fully lose their interest in the home.. plain and simple. I personally do not go after peoples primary residence. I only buy properties that are non homesteaded, where the owners live out of state. I'm not an evil corporate raider that's looking to kick people out.. often times, I'm doing people a favor by getting them out of a property that's been draining them for too long. If Johnny lives in California, but?? his mom left him a house in Texas, and Johnny has problems keeping up with the taxes, maintenance, finding renters, etc.. he may decide to just let the property go by not paying taxes.. some people just say the hell with it. Whether some people think this is right or wrong this system has been around in Texas for hundreds of years. I play by the rules and use the laws to make a living. If that offends you then so be it.

[awish30]

Hi all. I'M a tax deed investor in Austin Texas, but I invest all over the state.. Is anyone else investing in and around the Texas area? If so, lets talk shop.. I'm interested in talking to like minded folks..

Hello Hitman, I currently live in Georgia but work in Afghanistan and have been researching this for some time. It is my next investment goal and I would be very interested to hear your thoughts being that you seem to have knowledge about this. Actually Texas and Georgia were the top to states I am focusing on. Thanks for any advice you might have.

[hitman1978]

This form of investing is not for the wannabe investor. A tremendous amount of research and knowledge is needed inorder to select properties that are not tied up in bankcrupy, multiple owners, multiple liens, probate, etc.. every month there are 1000's of houses being auctioned off in the 254 counties all across Texas. 15% of these homes are great investment. 85% are not, or they get pulled before the sale.. my job is to find the diamonds in the rough and make bids on them.. I don't know of too many investment where you are guaranteed atleist a 25% return in 6 months, or a possible 800% return in under one year.

Hello Hitman, I currently live in Georgia but work in Afghanistan and have been researching this for some time. It is my next investment goal and I would be very interested to hear your thoughts being that you seem to have knowledge about this. Actually Texas and Georgia were the top to states I am focusing on. Thanks for any advice you might have.

Awish, hows it going buddy. I lived in Atlanta for 8 years. Id be happy to discuss this investment strategy with you.. GA is similar to Texas. It is a tax deed state, but the redemption period I think is 12 months, and the interest rate might around 12%. Like I said, TX is more of my expertise.

[justruth]

This form of investing is not for the wannabe investor. A tremendous amount of research and knowledge is needed inorder to select properties that are not tied up in bankcrupy, multiple owners, multiple liens, probate, etc.. every month there are 1000's of houses being auctioned off in the 254 counties all across Texas. 15% of these homes are great investment. 85% are not, or they get pulled before the sale.. my job is to find the diamonds in the rough and make bids on them.. I don't know of too many investment where you are guaranteed atleist a 25% return in 6 months, or a possible 800% return in under one year.

Awish, hows it going buddy. I lived in Atlanta for 8 years. Id be happy to discuss this investment strategy with you.. GA is similar to Texas. It is a tax deed state, but the redemption period I think is 12 months, and the interest rate might around 12%. Like I said, TX is more of my expertise.

Currently in Houston which is where I am from, but live part of time in Atlanta. I know you mentioned that tax deed investing requires lots of research. Can you recommend a starting point, I do have pretty good experience in texas property law.

[hitman1978]

Welp, I suggest going to linebarger goggan Blair's website. Just Google it to view a list of upcoming tax sales in Texas.

[awish30]

This form of investing is not for the wannabe investor. A tremendous amount of research and knowledge is needed inorder to select properties that are not tied up in bankcrupy, multiple owners, multiple liens, probate, etc.. every month there are 1000's of houses being auctioned off in the 254 counties all across Texas. 15% of these homes are great investment. 85% are not, or they get pulled before the sale.. my job is to find the diamonds in the rough and make bids on them.. I don't know of too many investment where you are guaranteed atleist a 25% return in 6 months, or a possible 800% return in under one year.

Awish, hows it going buddy. I lived in Atlanta for 8 years. Id be happy to discuss this investment strategy with you.. GA is similar to Texas. It is a tax deed state, but the redemption period I think is 12 months, and the interest rate might around 12%. Like I said, TX is more of my expertise.

Yes the redemption period is 12 month but the interest rate is 20%. I am looking forward to speaking with you and I have no problem coming to Houston to learn and invest there, I have a lot of friends there I worked with in Iraq. Like I said I'm in Afghanistan now doing my research from here as much as I can but it won't be long before I'm home for good looking to become a full time investor eventually. If you don't mind I would like to send you my email address so we can talk shop. Thanks, I'm super excited because I have been doing research on this all day today.

[hitman1978]

Yes the redemption period is 12 month but the interest rate is 20%. I am looking forward to speaking with you and I have no problem coming to Houston to learn and invest there, I have a lot of friends there I worked with in Iraq. Like I said I'm in Afghanistan now doing my research from here as much as I can but it won't be long before I'm home for good looking to become a full time investor eventually. If you don't mind I would like to send you my email address so we can talk shop. Thanks, I'm super excited because I have been doing research on this all day today.

Shoot me your email address on p.m. I actually live in austin, but I have purchases tax deeds in fort bend Co near houston.. check out linebarger goggan Blair's website! Good luck to you my friend. Lets talk sometime.

[justruth]

Welp, I suggest going to linebarger goggan Blair's website. Just Google it to view a list of upcoming tax sales in Texas.

Okay, thanks will do.

[stonz]

Hi all. I'M a tax deed investor in Austin Texas, but I invest all over the state.. Is anyone else investing in and around the Texas area? If so, lets talk shop.. I'm interested in talking to like minded folks..

I call what you are doing as a "Sheriff's Sale" Have done these off and on for 30 years. These are properties with taxes and attorney fees due. My best deal was in a Texas County where the fees were way more than the properties were worth. A very savy school board member was tired of no one every bidding on the the hundred plus properties were being passed at every first of the month auctions. The School Board member wanted to get these properties back on the tax rolls to someone who would pay the taxes. He presented his plan to the Sheriff and the County Commissioners and all agreed.

The next month a special one time no minimum auction was held. I went with the funds to buy the two properties I was most interested in. The first property auctioned was forty acres. The auctioneer opened bid at $100. No one bid, so I bid the $100 and he tried to get a higher bid. No one responded and he started his going once, going twice and sold. Folks were just not tuned in or something and when I stepped in with my bid, they just did no react. Was able to buy the two properties I wanted also, but with most spirited bidding, but still a good deal.

Best luck to you. PM me.

A

[skitealwedrop]

I would love to share my knowledge with you. I can't find that darn p.m. option however.. may by you can p.m. me your email ..

Hey Hitman. I received your pm and attempted to send you an email though it was returned. Would you please verify your address.

Thanks. Ski

[hitman1978]

I call what you are doing as a "Sheriff's Sale" Have done these off and on for 30 years. These are properties with taxes and attorney fees due. My best deal was in a Texas County where the fees were way more than the properties were worth. A very savy school board member was tired of no one every bidding on the the hundred plus properties were being passed at every first of the month auctions. The School Board member wanted to get these properties back on the tax rolls to someone who would pay the taxes. He presented his plan to the Sheriff and the County Commissioners and all agreed.

The next month a special one time no minimum auction was held. I went with the funds to buy the two properties I was most interested in. The first property auctioned was forty acres. The auctioneer opened bid at $100. No one bid, so I bid the $100 and he tried to get a higher bid. No one responded and he started his going once, going twice and sold. Folks were just not tuned in or something and when I stepped in with my bid, they just did no react. Was able to buy the two properties I wanted also, but with most spirited bidding, but still a good deal.

Best luck to you. PM me.

Hey there stonz . That's the gist of it. Larger counties have more competition, smaller counties have less competition. As long as you know what you are buying, and have done the proper research, there is no reason one should be stuck

k with an unattractive property.

A

[64jaguar]

Guys, I understand your concerns and your reasoning. I'm not sure where you guys have invested, but I invest only in Texas. I know the laws in my state, and I have invested in over 60 properties, and never once have I'm had an issues with my deed becoming worthless. paper. If you understand the difference between a tax lien state, a tax deed state, and a hybrid state, then you know that each one gives the purchaser a different type of interest in the property. Texas is a hybrid state, which means at the auction, when you win the bid, you become the owner and are given a sheriffs deed. The original owner of the property that failed to pay their taxes for 5 years is given one last chance to regain their property... this is known as the redemption period. In Texas, if a home is non-homesteaded, the original owner has 6 months to pay back the winning bidder, plus a 25 % penalty. If the home is farmland or homesteaded, the redemption period is 2 years, and the penalty is 50% after one year. A tax deed is a priority Lien in Texas.. the only lien that is superior is a IRS lien, state lien, hospital lien, child support lien, and a mechanics lien. We run title to be sure the property does not contain any of these liens. Believe It or not, a tax deed even wipes out a mortgage. If 100k is owed to a bank, and the home is worth 200k and the bank was properly notified of the sale of the property, and they fail to pay the back taxes before the sale, or they never go to the auction to out bid the other bidders, then they fully lose their interest in the home.. plain and simple. I personally do not go after peoples primary residence. I only buy properties that are non homesteaded, where the owners live out of state. I'm not an evil corporate raider that's looking to kick people out.. often times, I'm doing people a favor by getting them out of a property that's been draining them for too long. If Johnny lives in California, but?? his mom left him a house in Texas, and Johnny has problems keeping up with the taxes, maintenance, finding renters, etc.. he may decide to just let the property go by not paying taxes.. some people just say the hell with it. Whether some people think this is right or wrong this system has been around in Texas for hundreds of years. I play by the rules and use the laws to make a living. If that offends you then so be it.

I'm not knocking you Hitman, my point of view comes more from the Mortgage point of view. All of these alleged lenders Never lend you money, IT'S ALL a BIG SCAM and it has been going on a long time. Every time you sign a Mortgage or even a check you are giving the bank permission to print Federal Reserve notes or DEBT. Taxes are another issue but based on inflated home values. People with good intentions get caught up in this scheme everyday and think nothing of it until the bill increases so much they can't handle it. It's all by design. When you signed that mortgage, YOU PAID IT. The funds were created by your signature and good credit. The banksters sell that Mortgage immediately, usually at a discount which is another crime and if it's a variable rate, then it's NEVER a security and its illegal to sell it. I could go on forever.... A mortgage isn't even a contract because the bank never signs it and it's also non-cognovit meaning that the alleged borrower doesn't ever understand the alleged contract because the bank never tells you what they are going to do with it. A recent case decided in MA supreme court is telling people not to buy homes that were foreclosed from a bank , because the Banks don't own them. What does that tell you?

Getting back to taxes, I have a friend that had a home in a very wealthy area in town, on the water. the town kept telling him they wanted 50,000.00 dollars a year in Taxes. They said the home was worth 3.5 million or something around there. Anyway he refused to pay the taxes. After a long fight the town took the house, thru him out and sold it at a tax sale for 750,000 dollars. If the house was was worth so much money why did the town steal the home and sell it for 750,000. It also proves that YOU don't own your home, even if you are the Grantee on the Warranty Deed. For me, after going through a foreclosure myself and increasing the value of my property by more than 100% by building another home on the property just to have the Alleged Lender try and Steal ALL of that equity (750,000 dollars) has given me a new perspective on going after the homes of other people. The whole system is a scam, just because they've been doing it forever doesn't make it right. Good luck to you my friend, I just hope this thing RV's so I can go settle down and forget about most of this Crap.

[detroitjazzman]

Good for you, Hitman. Kick people while they are down. If you are not part of the solution to the corrupt real estate system, then you are part of the problem. I have, in fact, bought tax-sale certificates in the past ... I felt a lot better when I quit. Good luck.

One thing that I know for sure.....IF you want to keep your home....Pay your Taxes....You can even redeem your home after the sale. How is that kicking someone while they're down? Had they taken a proactive position to their plight, they could have worked out something with the taxing authority. I buy them, and will continue to buy them. Heck...the worse you can end up with is.... a home....or interest on your tax sale purchase.

[64jaguar]

One thing that I know for sure.....IF you want to keep your home....Pay your Taxes....You can even redeem your home after the sale. How is that kicking someone while they're down? Had they taken a proactive position to their plight, they could have worked out something with the taxing authority. I buy them, and will continue to buy them. Heck...the worse you can end up with is.... a home....or interest on your tax sale purchase.

PAY YOU TAXES !!! Your kidding right?? I've got this old jaguar you see and it's NOT the one in the picture. These scumbags tried to raise my personal property taxes on my car to over 12,000.00 dollars A YEAR. Because they said it was worth 80,000.00 to 85,000.00 dollars in some f- ing blue book they were using. they never came out to assess my car just sent me a bill. I dropped the registration so I didn't have to pay it, but ALL taxing authorities are F- ing Crooks. Half the freaking worlds out of work because of this suck administration, but the Taxes NEVER go away. So if your comfortable doing what you do fine, especially in your neighborhood, if your in Detroit. i like to sleep at night.

[detroitjazzman]

PAY YOU TAXES !!! Your kidding right?? I've got this old jaguar you see and it's NOT the one in the picture. These scumbags tried to raise my personal property taxes on my car to over 12,000.00 dollars A YEAR. Because they said it was worth 80,000.00 to 85,000.00 dollars in some f- ing blue book they were using. they never came out to assess my car just sent me a bill. I dropped the registration so I didn't have to pay it, but ALL taxing authorities are F- ing Crooks. Half the freaking worlds out of work because of this suck administration, but the Taxes NEVER go away. So if your comfortable doing what you do fine, especially in your neighborhood, if your in Detroit. i like to sleep at night.

my neighborhood you have no idea! i didn't make this personal but I really do sleep comfortable and just a FYI my closet is larger than your living room which is also very comfortable! Regarding collector cars...I own a few and most states upon application grant license relief as well as tax relief. If you don't like the assessment....dont just tell them about it....go armed with an appraisal. just saying

[64jaguar]

my neighborhood you have no idea! i didn't make this personal but I really do sleep comfortable and just a FYI my closet is larger than your living room which is also very comfortable! Regarding collector cars...I own a few and most states upon application grant license relief as well as tax relief. If you don't like the assessment....dont just tell them about it....go armed with an appraisal. just saying

The Banksters all sleep real well at night too ! and my home is plenty big, 6000 sq ft. and I've got a 3500 sq.ft. one on the same property I rent but I also pay 26,000 dollars a year in taxes, that's somebody's whole paycheck for a year. What do you think the Town gives me for that??? They don't even pick up my garbage. They suck and I'm not the only one who thinks that around here. so if I'm not making enough money thye'll steal it and that's ok with you I guess.