Author: Tim Herriage

by Tim Herriage Tim Herriage No Comments

Quick Close Loan in AZ, CO, TX, TN, and NC

Real Estate Investment Financing Program Overview

This quick close loan product is only available in Arizona, Colorado, North Carolina, Tennessee, and Texas.  We generally limit it to non-rural areas with a population of at least 20,000 people within the county where the property is located.  The interest rate on these loans is 12%.  The origination is as follows:

  • Arizona: $1,500
  • Colorado: 2%
  • North Carolina: 2%
  • Tennessee: 3%
  • Texas: 2%

Loan Type:  Fix & Flip, Buy & Hold, Rehab, Cash Out, Refinance, Construction, Transactional Funding, and Bridge Financing

Property Type:  Single Family Residential and Multi-Family (non-owner occupied); limited commercial

Loan Size:  $50,000 to $2,500,000

Loan-to-Value (LTV):  Up to 70% of after-repair value (ARV)

Loan-to-Cost (LTC):  Up to 90% of purchase price (rehab financing up to 100% available subject to borrower qualification)

Loan Term:  6 months with option to extend

Lien Position:  First position

Borrower Qualification:  No income requirements. No credit check. No minimum FICO scores.

Borrower Type:  Business / Entity

Prepayment:  No prepayment penalty

Closing Speed:  24 – 48 hours. Minimal paperwork*

Other:

  • Appraisal not required*
  • Credit score not required*
  • No “junk” fees*

REAL ESTATE FINANCING IS STRICTLY FOR BUSINESS AND/OR INVESTMENT PURPOSES ONLY (I.E. NON-CONSUMER)

*majority of loans

Jennifer, Lisa, and Patricia are our amazing representatives for our loan products.  You can fill out the form below, email loans@2020rei.com,  or call 972-737-1850 today to speak to them.

FILL OUT THIS FORM TO GET STARTED

by Tim Herriage Tim Herriage No Comments

The Power of 1031 Exchanges

This month, Lu Ann Blough will present “The Power of 1031 Exchanges – Multiply your dollars” as the June Continuing Education (CE) for Texas real estate agents.  Agents receive complimentary CE, but everyone can attend this session.  The course will cover: Identify those real estate transactions which are eligible for IRC 1031 consideration. List and understand the six (6) basic components. Identify the statutory requirements for a Qualified investment(QI). List and describe the specific functions and role of a QI. Recognize that 1031 Tax Deferred exchanges need to be a part of a client’s tax planning strategies. Taught by Lu Ann Blough with ERG. 1hr MCE. Course number: 30958

CLICK HERE TO REGISTER FOR THE FREE MONTHLY DFW INVESTORS MEETING ON JUNE 7TH NOW

In this class you will learn how to:
1. Identify those real estate transactions which are eligible for IRC 1031 Exchanges.
2. List and understand the six basic requirements for a 1031 Exchange
3. Identify and understand what to look for when choosing a qualified Intermediary
4. Recognize that a 1031 Exchange should be part of an investor’s retirement planning strategy.

MORE ABOUT LU ANN:  Lu Ann Blough brings 20+ years experience in the title industry, reinsurance and real estate industries to the Exchange Resource Group team and acts as Regional Development Manager. She is the proud mother of three sons, Matt, Daniel and David. Matt currently works in the insurance industry, Daniel works for a commercial real estate company and David is currently attending Purdue University and plays quarterback for the Boilermakers. Lu Ann grew up in Deerfield, IL attending Deerfield High School. She spent her undergraduate years at Vanderbilt University in Nashville, TN where she received a Bachelor of Science in Psychology. She began her career working in London for a Lloyds of London Insurance Broker.

Lu Ann Blough || direct 972-863-1031 || LuAnn@erg1031.com
Regional Development Director || Exchange Resource Group || www.erg1031.com

MORE ABOUT ERG:  ERG is a nationwide qualified intermediary (QI) specializing exclusively in all types of 1031 tax deferred exchanges, including complex reverse, construction, and improvement Exchanges. The principals of the company have a combined 50+ years facilitating 1031 Exchanges.

1031 Exchange Services – Texas – Exchange Resource Group, LLC is a qualified intermediary (QI) handling all types of 1031 exchanges in Texas, including reverse, construction, and real property exchanges. We provide 24/7 support so you can ask us questions anytime.

We provide educational and transaction support to investors, buyers, sellers, CPAs, attorneys, brokers, real estate agents, banking and title professionals to ensure that clients are comfortable (and even excited!) using a 1031 exchange to defer paying taxes on even the most complex deals.

ERG Provides:

Education
Document Preparation
Secure Holding of Funds
Timeline Tracking
Transaction Support
With 40 years of experience and 12,500+ transactions behind us, you’ll get expertise that saves closings and keeps deals from falling apart.

Our team prepares and reviews the documents necessary to complete your exchange and properly comply with current Section 1031 tax law offering you the protection and assurance you need to complete an exchange.

by Tim Herriage Tim Herriage No Comments

Alternative Leads From Public Sources

George Roddy will be presenting the tool belt training at the May 7th free DFW Investors meeting.  This session is included with our complimentary CE, Featured Presentation, and open networking and bar.

The days of having “secret leads” in your arsenal is over due to technology in this industry so what should you do? Give up? No, the answer is to get more creative. There are hundreds of motivated and distressed owners that are looking to sell their properties. You just need to find away to locate them and inform them on WHO you are and WHAT you do. At the May DFW Investor meeting, George Roddy, Jr will show you different ways of sourcing motivated owners through public data.

• Owners who have lived in the property for more than 20 years
• Owners who are behind on property taxes and not in a deferral tax program
• Owners who have just evicted a tenant.
• Owners who have a vacant property
• Owners who have code violation from the city.

The DFW market has a lot of real estate investor competition but most investors won’t dig deep to find leads. If you spend a little more time, you will reduce your competition.

More About George:  George Roddy, Jr. is founder and CEO of Roddy Real Estate Investing Academy (RREIA) and Roddy Rentals (turn-key residential investment opportunities).  Prior to starting RREIA, George served as Vice President of Foreclosure Listing Service’s operations for 15 years.  He also has held his real estate license since 1998.  George has taught over 10,000 investors and real estate agents throughout his tenure and authored 8 different real estate investing courses that were certified for “mandatory continuing education” for real estate licensees/brokers.

More About the Roddy Real Estate Investing Academy:  The Roddy Academy offers education based on 25 years of Texas real estate investing experience. The Roddy staff has purchase over 9,000 properties and instructed over 20,000 investors and Realtors on Texas investment strategies, lead generation, market analysis, negotiations, rehabs, and liquidating single family properties in Texas.  Our mission is simple… to make YOU a more profitable real estate investor!

George Roddy – CEO

Roddy Real Estate Investing Academy

W:  https://roddy.com/

P:  214-593-0074

E:  george@roddy.com

A:  1415 Legacy Dr, Suite 350, Frisco, TX 75034

by Tim Herriage Tim Herriage No Comments

New Texas Real Estate Commission Contract Changes

Richard Weeks, Associate Broker and Office Manager for Investable Realty, and SVP for 2020 REI will present this month’s continuing education at the free DFW Investors Meeting on May 7th.  The course will be “Avoiding Common Contract Complications TREC Course 32236”.  This course is open to all investors, of all skill levels.  If you’d like the CE credit as a Texas REALTOR®, you must stay for the entire hour.  The course is free of charge, and is sponsored b DFWREIA, LLC.

Effective May 15th, there are changes to Paragraph 2, 5, 6, 20 and more.  Come learn how to take advantage of the changes for your clients, and protect yourself with knowledge.

Richard Weeks, Senior VP Administration, Investable Realty Office Manager.
Richard Weeks, REALTOR®, Broker Associate, GRI, ePro, EAgent.

Richard Weeks is a native Texan. After graduating from Lamar University with a Bachelors of Business Administration he joined the Army and is a Vietnam veteran serving from 1969 to 1971. He was awarded the National Defense Service Medal, Vietnam Service Medal, Vietnam Campaign Medal, and the Army Commendation Medal.

After being honorably discharged he worked in the Information Technology field for many years before deciding to become involved in real estate.

Real estate is definitely a passion for Richard. He holds a broker’s license and also is a Graduate Of The Realtors® Institute which is the mark of a real estate professional who has made the commitment to provide a high level of professional services by securing a strong educational foundation. REALTORS® with the GRI designation are highly trained in many areas of real estate to better serve and protect their clients.

  • He is also a certified instructor by the Texas Real Estate Commission. He has taught real estate courses at both the college and proprietary real estate school level.
  • He is a member of the MetroTex Association of REALTORS®, The Texas Association of REALTORS®, and The National Association of REALTORS®.
  • He is a highly skilled negotiator and is very detailed oriented. With intricate knowledge of contract and transactions he is committed to explore all resources necessary to market your property or find the perfect home. Will aggressively negotiate and address any concerns during the selling or buying process. Always available to answer any questions and believes communication is the key to a successful relationship.

Richard is currently the office manager for Investable Realty and he is dedicated to the individual success of each Investable Realty agent.

by Tim Herriage Tim Herriage No Comments

Ron Carlson to host Tool Belt session at April DFW Investors Meeting

Ron Carlson, an experienced real estate investor and general contractor, will host the tool belt session at the April 9th DFW Investors monthly meeting.  This free session is just part of the three free sessions that are included at every monthly DFW Investors meeting along side free food and an open bar!    The tool belt session starts at 7:00 PM sharp!

What will you learn from Ron?

Have you ever wondered about the right process on how to remodel a home? Most investors do not know that if you remodel a property in the wrong order that both time and expenses will increase. This class is designed for investors who want to be more efficient while managing a rehab. You will learn what you should fix before you put that new roof on! Should you fix the interior first or the exterior first? Ron will be revealing some tips to working with the city or keeping the city from giving you a hard time will fixing your property. Are you pulling the right permits? Do you even know what permits to pull? As a BONUS there will be a teaching on the remodeling of Historic Homes. What should you look for when you are looking to buy a Historic House? Do you know the additional expenses of purchasing a Historic House?

Ron Carlson is the owner of Renovation Gurus, a turnkey solution for investors. As an investor himself he will be teaching this class from both the eyes of a Contractor and an Investor.

WHY RENOVATION GURUS?

“Just like a home, businesses also need a solid foundation in order to produce quality work. With honesty, consistency, affordability and integrity as the pillars of this company, we pride ourselves on offering clients superior renovation services. We are honored that you are considering us for handling your invaluable assets and will strive to uphold an unmatched level of work.”  Renovation Gurus

The founders of Renovation Gurus grew tired of contractors over pricing construction materials and not completing quality work in a timely manner. So, with over a decade of experience in home remodeling and investment real estate, they felt it time to bring all their resources together and open it to the public.  Renovation Gurus was founded to challenge the current “status quo” of other home remodeling companies. How? By offering a more affordable option for home owners to receive the highest quality of both property renovations and customer service.

So whether it is your personal home or investment property, let us here at Renovation Gurus bring our years of experience and discounts to help deliver an unbelievable finished product!  Click here to learn more about Renovation Gurus.

by Tim Herriage Tim Herriage No Comments

George Roddy to Present Flipping Real Estate for a Profit

George Roddy, Jr, our partner at DFWREIA, LLC, will be presenting the continuing education for REALTORS® at the April 9th investor meeting.  George is a seasoned instructor, investor, and service provider.

The Complimentary CE for the April DFW Investors meeting will be “Flipping Real Estate for a Profit TREC Course #32816”.  Our monthly CE sessions begin at 5:30 PM, and end at 6:30 PM.  The sessions are open to REALTORS® looking for CE credit and the general public that would like to learn the right way to conduct a real estate business.

Flipping Real Estate For a Profit: Flipping houses is simple but not easy.  You need a plan to follow and a team to execute.  So many people get hung up on every stage of the game but, you don’t need to.  George will explain his five steps approach to profiting from his house flipping business.  Whether new or a seasoned house flipper, you will learn a few things.  In his 1hr presentation he will cover:  Business systems, Vital Team Members, Lead Sources, Valuating, Contract Writing, Rehab – Planning, Rehab- Budgeting, Rehab – Execution and finally Selling  To Do’s (liquidation).  Come learn from a local flipper.

More About George:  George Roddy, Jr. is founder and CEO of Roddy Real Estate Investing Academy (RREIA) and Roddy Rentals (turn-key residential investment opportunities).  Prior to starting RREIA, George served as Vice President of Foreclosure Listing Service’s operations for 15 years.  He also has held his real estate license since 1998.  George has taught over 10,000 investors and real estate agents throughout his tenure and authored 8 different real estate investing courses that were certified for “mandatory continuing education” for real estate licensees/brokers.

More About the Roddy Real Estate Investing Academy:  The Roddy Academy offers education based on 25 years of Texas real estate investing experience. The Roddy staff has purchase over 9,000 properties and instructed over 20,000 investors and Realtors on Texas investment strategies, lead generation, market analysis, negotiations, rehabs, and liquidating single family properties in Texas.  Our mission is simple… to make YOU a more profitable real estate investor!

George Roddy – CEO

Roddy Real Estate Investing Academy

W:  https://roddy.com/

P:  214-593-0074

E:  george@roddy.com

A:  1415 Legacy Dr, Suite 350, Frisco, TX 75034

by Tim Herriage Tim Herriage No Comments

Scott Horne to be the Featured Speaker at the April DFW Investors Meeting

Our next free real estate investor meeting will feature a longtime friend of ours, Scott Horne. Scott Horne is a business partner and mentor to many of the most successful investors in Dallas Fort Worth.  Scott’s passion to help investors and create optionality in investment transactions has made him the go to resource for funding, legal, title, and a myriad of other investor focused services.

L. Scott Horne, principal partner of Horne & Associates, P.C., has practiced law in DFW for over 30 years while simultaneously building an impressive personal portfolio in single-family real estate investments. As a real estate and title fee attorney, he and his firm assist Realtors and Real Estate Investors in structuring, drafting, and closing creative real estate transactions as well as many other other business needs. Scott has has closed over 10,000 Owner Finance transactions. Scott uses a unique approach, blending both the legal and practical aspects of real estate to provide his clients a common sense approach to each transaction.

Scott has agreed to present The Art of Money at this months DFW Investors Monthly Meeting.

After borrowing three quarters of a billion dollars on over 7,250 single family homes…one at a time. Scott has learned that the real estate investment business is truly all about the money…..finding money, negotiating money, making money, saving money and keeping money.   Join Scott on April 9th to learn how to incorporate the basic principles and primary strategies of our industry, to achieve the end goal….wealth generation.

Scott and his team are always ready to help investors and their clients.  You can find them at their office in Garland, TX or online.

MORE ABOUT HORNE AND ASSOCIATES, PC

Started in 1988 as L. Scott Horne P.C., the firm was established to handle real estate transactions of all types for investors, and slowly grew to working with realtors as well.

Scott saw the opportunity in his real estate business relationships to expand into real estate title operations. He then quickly expanded to four title offices in the DFW area.

Today, Horne & Associates, P.C. incorporates all facets of the real estate industry into its business, which includes residential and commercial closings, title operations, investor and realtor representations, creative finance transactions, with a focus on creative real estate transactions, foreclosures and landlord / tenant representation.

972-271-1700
Scott@HorneRealEstateLaw.com
http://www.HorneRealEstateLaw.com

1795 Northwest Highway
Garland, Texas 75041

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