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A Houston church's pastor passed away, nobody could find the church's paperwork, and $38,000 in back taxes had its land headed to a tax sale. Four days before the auction, the church took Derek Wells' cash offer. He drove through a Texas blizzard with a cashier's check on the day his son was due to be born, and nine days after listing, the lot sold, netting about $80,000 in under 30 days.
Derek spent about 10 years in oil and gas investment banking before he burned through his savings and moved into his parents' garage. He started flipping houses in East Dallas in 2014 and did 100+ deals off the MLS and wholesalers. After COVID, margins disappeared, so he moved into curative title with his wife, a litigation attorney, helping solve the hard legal problems.
In this episode of Dirty Deeds, Derek tells Logan Fullmer how he cleared title on a defunct church, why he offers owners an AB close, how he bought 37.5% of an Austin house for $4,000, and why this business pays a multiple, not a percentage.
You'll learn:
- How to find deals on the tax sale list before auction
- How an AB close works: cash offer vs. 50/50 joint venture
- How to convey title out of a defunct church or entity
- How a will's residuary estate changes who owns the property
- His call + text + video outreach system
- Why he targets active tax lawsuits
- Why velocity of capital beats squeezing every dollar out of a sale
#CurativeTitle #TaxSale #RealEstateInvesting
