How Logan Fullmer Makes a Fortune Fixing Title Problems
Feb 13, 2024
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Logan Fullmer, an investor in land and commercial real estate, talks about resolving title problems to buy properties at insane discounts. He shares common title issues, how to identify properties with issues, costs involved, and tips for getting started. The podcast also discusses managing downside risk, Texas property laws, determining offer amount, increasing property value, and fixing title problems.
Buying properties with title issues can offer substantial discounts and increased value after problem resolution.
Having an experienced real estate attorney familiar with title issues is crucial in navigating these deals.
Thorough due diligence, including investigating property history and understanding costs, is imperative to mitigate risks in acquiring properties with title problems.
Deep dives
Finding the Best Professionals in the Land Investing Business
The podcast episode discusses the challenge of finding the best professionals in the land investing business and introduces professional directories on retipster.com as a solution. These directories are curated by members of the community and provide recommendations and contact information for real estate agents, title companies, accountants, and more. The directories are free to access and offer a convenient way to find trusted professionals who understand the land investing business.
Logan Fulmer's Journey into Land and Commercial Real Estate Investing
The podcast features an interview with Logan Fulmer, an experienced investor in land and commercial real estate. Logan shares his personal journey and how he got into the land business. He discusses the importance of understanding risk and downside protection, and how he started buying land with title issues at a substantial discount. Logan also talks about his unique approach to curative title work, where he actively seeks out properties with title problems and negotiates with the owners to solve these issues.
Solving Title Issues and Achieving Significant Margins
The podcast episode explores the process of solving title issues and highlights the advantages of buying properties with title problems at a significant discount. Logan explains the different types of title issues he encounters, such as multiple owners, breaks in the title chain, judgments or liens, and minor ownership. He shares specific insights and strategies for resolving these problems, such as negotiating with creditors, filing quiet title lawsuits, and handling minor ownership issues. Logan also emphasizes the importance of understanding the value of the property and balancing risk with potential rewards in these deals.
Buying Properties with Title Issues
One of the main points discussed in the podcast is the strategy of buying properties with title issues. The speaker emphasizes that these properties often have value due to complications in their ownership, such as being landlocked or having liens and mortgages with errors. By purchasing these properties at a discounted price, investors can then work on solving the title problems and increase the property's value. The speaker suggests that with the right guidance and education, this strategy can yield substantial returns.
Seeking Legal Assistance and Due Diligence
Another important aspect highlighted in the podcast is the need to have an experienced real estate attorney familiar with title issues. The speaker advises finding an attorney who specializes in this specific area of law and has a track record of success in resolving title problems. Additionally, the importance of performing thorough due diligence before buying these properties is stressed. It is recommended to ask the right questions, investigate the property's history, and have a clear understanding of the potential costs and time involved in solving the title issues. By being diligent and informed, investors can mitigate risks and make well-informed decisions in their property acquisitions.
177: Logan Fullmer is an investor in land and commercial real estate and deals with some of the toughest title issues. Through his expertise in resolving problems in a property's chain of title, he can find and buy properties at insane discounts.
Logan shares how he first invested in real estate by purchasing inexpensive vacant lots in San Antonio, Texas. A few years later, after the market appreciated significantly, Logan discovered one of the properties had a title issue that prevented it from being sold. Through resolving the title problem, Logan realized there was an opportunity to seek out properties with title issues to acquire them at a discount.
Since then, Logan has made a business out of buying properties with all kinds of title problems - from multiple heirs to tax liens to breaks in the chain of title - to resolve the issues and unlock the properties' full value. He goes into detail on the podcast about the most common title problems he encounters, how he identifies properties with issues, the typical costs and timelines involved in resolving them, and how he determines how much to offer sellers. Logan also provides tips for those interested in getting started with title curative work.
Logan shares his knowledge and experience navigating complex title scenarios to invest in distressed real estate successfully. His unique perspective and approach to seeking out properties with solvable issues to acquire them well below market value provide useful insights for real estate investors.
