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Published byEddie Pester Modified over 10 years ago
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The Texas 2-Step For Tax Sales 2014
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Disclaimer The information presented is designed to provide accurate and authoritative information in regard to the subject matter covered. It is offered with the understanding that the presenter is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert advice is required, the services of a competent professional should be sought. Calculations are given for learning purposes and should not be construed as projections nor guarantees. This material is not a substitute for legal advice. 2
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Why Texas Tax Sales Monthly sales-254 counties Buy for quarters on dollar Penalty rates of 25-50% for redemptions –Redemption amount based on purchase price –Plus additional fees and costs –Full interest penalty, not pro-rated Super priority position for tax lien Immediately entitled to rental income Numerous after auction possibilities 3
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Why isnt everyone doing it? 4
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It isnt easy Lack of knowledge Too much work Too time consuming No one source to go to 5
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A Turnkey Solution 6
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From Texas Tax Sales Resource Group, LLC Here is what we provide our Priority Members 7
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8 All counties screened for property tax sales Property lists scrubbed to find those that meet parameters Research to get data necessary to make decisions Due diligence on potential purchases Property visits and pictures Auction preparation and representation Recording, securing, and insuring purchases Converting purchases to cash flow Property management Unlimited consultations
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UNKNOWNS When Bidding Will the property be paid off before the sale?Will you get outbid at the auction?Is the house vacant or occupied?Is the former owner considering redemption?What is the condition of the property inside?What will be your total out of pocket cost?What is the rent?What will the cash flow be? 9
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We Want to Remove as many of the Unknowns as we can. 10
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Texas Two-Step for Tax Sales 11
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Step One-We Buy the Properties Step Two You Choose the Ones You Want Step Two-You Choose the Ones You Want 12
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THE UNKNOWNS? Will the property be paid off before the sale? Will you get outbid at the auction? Is the house vacant or occupied? Is the former owner considering redemption? What is the condition of the property inside? What will be your total out of pocket cost? What is the rent? What will the cash flow be? 13
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How It Works You must be a Priority Member –One time $1,000 registration fee You should have a Chase bank account You make a $20,000 good faith deposit We purchase properties (Step 1) We gather info and report to you You choose the ones you want (Step 2) Sample… 14
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Recent Announcement Special Financing for tax sale houses available for 2-Steppers –No qualifying –No points –No prepayment penalties –Up to 50% of out of pocket costs financed 15
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What Next? Contact us with questions Request a Priority Member Package Read the package, contact us if questions Send us filled out paperwork Transfer Membership Fee to us Make Good Faith Deposit Select Purchases from next 2-Step list 16
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Contact Us arnie@txtaxsales.com 214-869-7188 joe@txtaxsales.com 817-713-8124 www.txtaxsales.com 17
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