HOW TO BUY HOMES FOR PENNIES ON THE DOLLAR!

HOW TO BUY HOMES FOR PENNIES ON THE DOLLAR!


[Music] what’s up everybody this is BC Brian Costello welcome to my channel if it’s your first video that you’re watching go ahead and subscribe now as I do a lot of content for sales real estate mindset cars anything and everything you need to have a better life and enjoy it in the process so I wanted to do a video today on buying homes properties for pennies on the dollar I’ve talked about it a little bit before I’ve mentioned it in my other videos but now I really want to give you guys a little bit more detail about this process how I did it and how you can go about it I’m not going to sell you a program I will at the very end plug in Mike Wolfe who is the guy who taught me everything I invested in his system I met him through my real estate coach but this isn’t like a pyramid scheme or anything like that I’m not making any money off this I’m just giving you the information which you can take and use on your own or you can talk to Mike and go through his program which of course I recommend because I did it okay I currently right now have three properties in Texas in Houston right here’s the process right every county in the United States has a tax deed auction meaning there are properties in all these counties throughout the United States right and of course the rules and everything that I’m explaining this particular one pertains to Houston Texas and the auctions that I go to that I attended that I learned from with Mike and now I’m giving you this information from that perspective right so other counties of the cities may be completely different don’t quote me on it everybody has their own rules alright so let me play out a scenario for you a homeowner goes delinquent on his taxes right the county wants his taxes after a while that he goes that he’s in that delinquency it gets so point where they’re going to auction off his property and if that owner doesn’t come back with what he’s delinquent in taxes he’s going to lose the property at auction right so what happens is the first Tuesday of every month they have these options in Houston and then you show up to the city steps they have different little booths right there with with the sheriff’s and they auction off the property so let’s say auction a write the starting bid is always going to be what they owe what their delinquent in taxes so this is $100,000 property and their delinquent $3,000 in taxes guess what ladies and gentlemen the starting bid is 3,000 now somebody goes in bitch 3000 and no one else does boom you get the house now additionally every single county and city has a what’s called a Redemption period a Redemption period means there’s a window of time that that owner can come back to the government pay their delinquency in taxes and they get the property back and Houston it’s six months six months meaning if on month five day 29 or day 30 before the 31st the guy comes and pays his taxes which happened to one of the properties that I bought he gets it back but here’s the kicker in the situation in Houston they will send you back your money what you paid let’s say it was 3000 I’ll send you 3000 plus an additional 25% so in essence you have a win-win here you either get a property or you make an investment where you make 25% pretty sweet deal isn’t it all right now there’s a lot more that goes into it obviously beforehand there’s some websites that you can access to research to find out what property is going to go up for sale again we always check all the way up to the night before because once people find out that their house is going to be auctioned off they’ll make a payment or pay off their taxes just to get it off the list right I’m sure you know it varies state by say I’m sure there’s a minimum amount they can pay to take it off the option or maybe they have to pay the full amount I’m not sure but a lot of people end up paying like right before so those properties are taken off the auction all right so basically the process is very simple you would just show up and if you did your research beforehand you can just show up bid and buy a property it’s really really that simple guys now here’s the thing with Mike the reason I’m going to recommend Mike is when you go there I went his program was a three-day training he walks us through he takes us to the auction he introduces you to his team he has another guy nari another guy there named Brian which is funny because my name is Brian and that guy will actually later on from the comfort of your home you can email him and tell him hey I’m looking at property ABC go bid and you know max bid 5,000 on this one 4,000 won this one on this one and he goes and then he’s only going to charge you at the auctions if he bids for you and wins I’m charging 500 bucks right now obviously you know her the whole thing with Mike I can’t give too many details about his process but he streamlines the process has people that would go out and look at the properties for you beforehand and send you pictures and video and then he has property management in place which is extremely important if you’re going to buy investment properties you need a rock-solid property manager ladies and gentlemen that will make your life so much easier do not manage your own properties please do they charge 75 bucks a month and this typical rent out there for a small house is anywhere from 800 to a thousand a month that’s really not that bad okay they have a waiting list of grade a 10 it’s ready to go in there that are going to give you problems the rejection rates are really low but anyway I’ll cut it off there I’ll leave a link in the description to Mike’s website I don’t wanna make this a sales pitch I’ve personally gone through it so I of course vouch for it I bought properties and a bunch of people that have he travels uh you know the United States who teach he teaches this in different cities I just learned it in Houston I know he’s working with some institutional investors as well on a different part of the tour I’m not going to go too much into detail on that because the majority of the questions that I’m getting are about these particular properties you can buy for pennies on the dollar so that’s the process in Houston I know there’s tax deductions everywhere every city and county again I remember is different just advertising it to you I want you to show up over in Kansas or if you’re in Minnesota and then pretend like the same rules apply for Houston so do your research you can do a lot of it tax deduction and if you have any other questions go ahead and reach out to me personally or you can check the link in the description below to mike’s website talk to him really cool dude very down-to-earth great mentor to have massive massive massively successful investor ok tip for this one guys don’t forget to like the button share it because I know this is the strategies a lot of people don’t know about or they don’t really know about in detail and I think it will help them don’t forget to subscribe to the channel see it [Music]

35 thoughts on “HOW TO BUY HOMES FOR PENNIES ON THE DOLLAR!

  1. First

  2. thank you

  3. So do you flip the property or do you rent it out

  4. This used to be the best way to get cheap properties but now in my county (Dallas) there are plenty of investors buying houses ridiculously close to market value, if not over market value. People are just going to bid as much as they can. Like in your example, even if they owe 3 thousand, it'll get to 100 thousand in the first minute of the auction. How do they even make a profit off homes they're not even getting a good deal on?

  5. I wish there wasn't so much competition here in my market, auction houses are usually going for around market value or with the repairs needed they aren't profitable. i was only able to get one auction property last year and i was there every month, had to go to direct mail and other ways to find off market properties. Glad it's working for you though BC

  6. So with these Houston properties, on your property managers, is there anyone that you have in Dallas ?

  7. Where do we find houses being auctioned off

  8. what do you do with the properties you buy. rent or sell them

  9. Why did you chose the county all the way up in Texas. Are counties in California not that good?

  10. Dont banks have a right to the property even after the auction?

  11. Thanks Sexy ğŸ˜ğŸ˜‹ğŸ˜ŽğŸ˜‡ğŸ˜

  12. This is really good information, I studied a little about this. There are a lot of investors out there but the way you're saying you use the system seems like you have people on your side to let you be in several places at one time. Persistence, relentlessness will get you the deals. I can't wait to be in the place to do this. I just got my license this month and I'm going to be a Lone Ranger:-)I actually live near your parents if there's anyway I can help on your properties you list in this area let me know. Your information to me is priceless. I'm not there financially YET to buy your product but I know you've become my mentor can't wait to be where you're at in life!!! Win win loved this video! Continue your growth, I admire your success!!!

  13. What is penny on the dollar..

  14. Are you going for volume? What if someone owns a larger property (complex) and you can use your money to bid on that vs a volume of properties? Like from a rental perspective, couldn't you just buy a huge apartment complex vs smaller Multis?

  15. how do you find out if there are any liens on the property? like a mortgage

  16. Thank you for posting! I heard that managing out of state rental properties is a nightmare though. Any tips on that specifically? This is a huge goal of mine, just got my real estate license too.

  17. BC your channel is killing it! Sooner or later you will blow up!

  18. Another listing taken down thanks to this inspiring words of BC. Good knowledge on this video too. 10/10 listing and the start of a new month. Going for 12 listing in July.

  19. Brian, you said you own 3 of these properties. Have you purchased more properties that were redeemed by the owner or you just purchase 3 total using Mike's system?

  20. I'm living in Houston and read up on this. The 6 month redemption period is only for homes that do not have homestead exemption. If they do, then the owner has a two year redemption period to get the home back. So much assumption is you're only bidding on homes without the exemption.

  21. So what if you purchase property that needs more investment of money to enable you to rent or sell it?

  22. Hey BC what do you do when you purchase a property at a tax deed auction? Also, how can you do research on a property to see if there aren't any hidden fees etc. so you what your buying and won't​ be in debt?

  23. When you said Houston I subscribed asap!!! Thank uloved the video

  24. Is this recommended for home owners or just investors

  25. Do you need licences in the specific state your investing in?

  26. Does this work in Australia?

  27. Would i be able to do this with 8,000 to buy a property?

  28. What if the auction starts at 3,000$ and goes up to 6,000$ and the person bidding 6K gets the house, but the owner pays back the original 3,000$ tax they owed. My confusion is what amount do you get back in this situation– Do you still get 6,000$ back plus 25% or just the original 3k plus 25%?

  29. ❤️❤️❤️❤️❤️

  30. Sales pitch

  31. I want job In your country help me

  32. auction homes in WA go for around market value. market is too competitive for any "steal of a deal". Anything listed below market value will have offers above listing price.

  33. You are a very good communicator. I was always confused about auctions, now I understand.

  34. You forget to mention most the time to buy those properties you have to pay with Cash on the spot

  35. May you please share the email of Brian? The one who goes to the courthouse to bid for you? Thank you

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