Reply With QuoteMy buddy is moving to Ft Worth.
They are keeping their house in LA too.
Damn I can't believe how high property taxes are in Tx.
Im getting prequalified right now on a few properties I came across.....if all goes well im flying out in 2 weeks to check them out and get to the fun stuff.....
They are all brand new houses in the Dallas/Ft Worth and Houston areas. The main one im looking at already has a tenant lined up willing to lease it for 2 years @1350 a month and a $2000 Deposit. Monthly payments with the property tax and insurance comes to be about $900 a month...Than 8% for property management. The propertys will be finished in a matter of weeks, and are selling for 15k under market value (discounted). So I will walk into that equity when purchased.
The other is pretty much the same deal, but Section 8 certified and the they can have a section 8 renter in there when its done. I felt kinda sketchy about that though. I know your guaranteed the money from state, but im kinda worried about the people abusing the place.
Anyone have any tips for section 8 renters, Texas rental properties etc....Im trying to get as much info as I can from many different sources before I sign away for my first SOLO property.
Thanks
My buddy is moving to Ft Worth.
They are keeping their house in LA too.
Damn I can't believe how high property taxes are in Tx.
Be patient grasshopper. San Diego will be ready by the end of the year. Texas is to far away and property taxes will kill you.
Do not follow in this guy's path.
I haven't checked out his site in w ahile, but he had a property in Texas grenade on him.
http://www.iamfacingforeclosure.com/...se-now-an-reo/
I feel bad for this kid, maybe it's the books and courses he is skipping which are killing him, cuz he doesn't seem to know how things work in the real world:
Casey: What about the Notice of Trustees Sale and the Trustees Sale itself? Will that somehow show up on our credit?
Lender: No, it will just be in the public records. It will not be on your credit.
Duh. And the property taxes...those will just pay for themselves, don't worry about it.
Do your homework! If it looks to good to be true, why aren't the locals jumping in? You must be putting down a hefty amount to get those numbers...
...good job NOTALENT, at least you are being smart enough to buy something!
Personally I'd take the 2 year lease deal..if it doesn't work out in a year or so and you get out, it will have cost you nothing!
The main one im looking at already has a tenant lined up willing to lease it for 2 years @1350 a month and a $2000 Deposit. Nice that there's somebody willing to sign a two-year lease (isn't that kind of unusual for a rental home?) Don't forget, however, that if he walks away you'll burn through that $2K deposit pretty quick then you're stuck suing a guy all the way in Texas (not cheap and no guarantee of collecting anything anyway). Don't forget that you might be paying the mortgage, taxes, and insurance for a while in that case.Good luck!
We have a guy here in our office who does a lot of TX properties. I think he's bought somewhere in the 200 range between himself and investors. It's pretty incredible. He has the builders sending him their last few properties at greatly discounted prices, and everyone is making out very well. If you'd like to talk to him about how and what he's doing out there, drop me a PM, and I'll send you our office # and his name. To me, it looks like it's a pretty great market in the Dallas Ft. Worth area, and I know they are all making really good $$ on them. Good luck...
BRA
We have a guy here in our office who does a lot of TX properties. I think he's bought somewhere in the 200 range between himself and investors. It's pretty incredible. He has the builders sending him their last few properties at greatly discounted prices, and everyone is making out very well. If you'd like to talk to him about how and what he's doing out there, drop me a PM, and I'll send you our office # and his name. To me, it looks like it's a pretty great market in the Dallas Ft. Worth area, and I know they are all making really good $$ on them. Good luck...
BRA
Thats exactly what this is. Im kinda getting spooked on this whole tax thing, I got to look into it a little more. I dont plan on selling it or using the equity on it. Just more resarch.
PM SENT
Someone has been watching Eric Estrada Infomercials
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