How did I get started in this business?

So, I wrote a letter to the Land Commissioner of the State of Arkansas, and asked for a list of tax forfeited property available for sale by his office in my county and a couple of surrounding counties.

I was amazed when I received the list. Hundreds of properties were available. All I had to do was to send the Land Commissioner a check for the properties in which I was interested. I applied for two properties. The first property was a residential lot available for less than $10.00. The second property was a two acre tract for abut $15.00. Both were located in Pope County, Arkansas. To my astonishment, in less than two weeks, I received deeds to each of the properties. I then recorded both deeds in the County Circuit Clerk’s office.

About a week later, as I was a real estate broker at that time, I attended a real estate exchange meeting in Springfield, Missouri. At what they call a “cowboy auction” after the daily session, I put the two deeds up and explained how I had acquired them. I explained that knew nothing about the property and that I would only give a quit claim it to whoever was the best bidder.

A California real estate broker purchased both property for $300 cash each. He asked me if he could come down to Arkansas after the meeting and try to find the property. This he did. We located both properties. I was very sorry that I had not taken the time to check them out. The two acre tract alone had a well and septic tank on it and it was located on a blacktop road. There use to be an old home on this property and it had been destroyed some years earlier; but, the property was worth at least $3,000. The residential lot was worth about $1500. Needless to say that broker was very happy with his investment.

Not only that, he was a very creative person and asked me if we could purchase other similar properties. We drove to Little Rock. We located the Land Commissioners Office in the basement of the State Capitol. There we browsed through 75 books. There was one for each of the 75 counties in Arkansas. Thousands of properties were available just for writing a check for the amount due. To make a long story short, we formed a partnership whereby I purchased the properties and he either sold or traded them off in California. We each made more money on this project the first year than either of us did in our brokerage business. Over a period of time we purchased over a 1000 properties in Arkansas and we never paid more than $100.00 for any one property.

What are some of my other experiences?

The above was both a good and a bad experience. All I would have had to do when I originally acquired those lots was to make up a separate deed and sever the mineral rights on all 105 lots. Had, I spent just $3.00 to record that deed, that check would have been for over $60,000.000. Lesson learned! I now sever the mineral rights to all property I buy regardless of its location or size.

Have I had any recent successes?

We did attend the sale. We purchased 4 houses and 8 residential lots for a little less than $2500 of his money. We received the sheriff’s deed a couple of weeks after the sale. A couple of weeks later the investor, now my partner on this project, made a trip to the county. He made sales totaling a little over $57,000.00 in one day. Most of the properties were sold for small down payments, small monthly payments, on a contract for sale including 10% interest. A lot we paid $200 for was sold for $2500. Needless to say, the investor is happy. Since then, that investor has acquired a couple of homes in Oklahoma County, Oklahoma, for taxes and several properties in another county in Oklahoma. That is happening right now.

Robert, in Phoenix, Arizona, just acquired 3 properties which consisted of 2 vacant lots and a small home. He paid $50.00 for each from the delinquent property owner who had no intention of redeeming, using one of the techniques in our manuals.

Paul in California, acquired a home worth about $60,000 for less than $5,000 prior to the tax sale, using one of the techniques in our manuals.

Jesse, in Texas, just acquired a home on a golf course worth about $110,000 for a little over $7,000 total. He did not have to go to the Auction and compete. He used one of the techniques which we have developed over the years and is revealed in our manuals.

Another couple in Northern California have acquired several properties for $100 from the delinquent property owner prior to the tax sale.

John, in Oklahoma acquired a nice two bedroom home for less then $2500 even after paying all the taxes and fixing it up for resale. He used one of the techniques in our manuals.

Rudy, from California, recently acquired a very valuable lot in Little Rock, Arkansas, for a little over $200, using one of our techniques. He is having a Realtor sell the property for him.

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