real estate

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 tdkinvestmentgroup tdkinvestmentgroup No Comments

Corinth Rental or Flip less than 75% ARV Investors

 

 

 

 

 

 $91,982
ARV $125,310

Buy at less than 75% ARV.

Walking distance to schools and churches. Short drive to shopping center.

Great flip or rental on the West side of I-35 in Corinth. This is a 3 bed, 2 bath, 2 car garage single family home. It is in great condition and very little repairs needed for a rental. Could probably spend $15,000 for flip. Comps are great.

 Sold Comps:

2604 Forestview $117,000

3191 Meadowview $128,000

2607 Timberview $119,000

 Rent Comps $1200-$1300

***Must Close on or before 2/27/13***

***$3,000 deposit required***

http://tdkinvestmentgroupllc_hv-default.propertyware.com/forsale.html?uid=183697765&sale=true

 

 

IMG_3088 IMG_3087 IMG_3085 IMG_3084 IMG_3083 IMG_3082 IMG_3081 IMG_3080

by bdunklin bdunklin No Comments

Saturday, December 29 – put it on your calendar

The North Texas Association of Real Estate Investors is sponsoring a new seminar with three attorneys discussing the legal and practical issues related to planning your future and your family’s future. Topics will include wills, estates, probate, pre-death planning, IRAs, Roth IRAs, legal entities to limit liability and reduce taxes, and setting goals. For more information, contact Bryan Dunklin at texaslaw@email.com, 214 769 7377 or https://www.wepay.com/events/putting-your-legal-house-in-order-with-bryan-dunklin

 

by Simon Craig Simon Craig No Comments

A Snippet On The Basic Information On Mortgage For Building A Home

Are you planning to apply for a new mortgage? If yes, then you need to know that applying for mortgage for building new home is completely different from obtaining traditional mortgage on existing home. Remember, you’re required three loans in order to build your home. The three loans required for building a home are: one for the land, one for the construction phase and one for the permanent financing after the home is built. If you’re planning to apply for a home building loan, then the three loans mentioned above are often combined into two or one type of loan by the lender.

Here are a few facts that are essential for you to know when you’re applying for a home building mortgage:

Loan for buying land: Generally, the lenders are prejudiced to lend money on raw land at times. This is because it can be a difficult task for the lender to resell the property if the borrowers default. The lenders who’re lending may ask for more down payments that may exceed 20% along with high interest rate. Therefore, it is beneficial to pay cash if you can afford to pay for the land.

Loan for building the home: You need to apply for a construction loan when you plan to build a home. However, some of the lenders can provide you with the loan. Therefore, you need to provide blueprint as well as specifications along with appropriate permits and a licensed bonded contractor. If you can provide the required documents, then the lenders may consider lending for construction. In certain cases, the lender may inspect the property before providing you with the loan.

Permanent financing: After home construction gets over, make sure you pay off the loan. Usually, this process is completed with the help of a permanent loan, similar way a person applies for loan modification.

Once each of these three loans is accomplished one by one, you need to come across three closings. Therefore, you need to deal with attendant closing costs, legal fees and taxes. You can opt for combination financing that helps to merge at least two of the loans. Therefore, it can help to minimize the cost as well as paperwork.

You can manage to rollover loan and it helps to purchase land, construction of the home as well as permanent financing. You can manage to qualify for once but require paying only one set of closing costs. In certain cases, you can merge the construction and permanent loans if you’ve purchased the land. You can also use the equity in the land as a down payment for a construction-to-permanent loan.

However, the lender many vary in their approach in case of construction-to-permanent loans. Make sure you shop around in order to get the best rates as it can help you build a home.

by Spare Foot Spare Foot No Comments

Relocating Tips

As a college student, moving in and out of various places has become commonplace. From living at home, to a dorm, back home, to an apartment, and another apartment, I feel like I’ve become a professional in relocating on the fly. I have a few tips to share for those that are planning on relocating soon, or know anyone that is.

Be a smart packer. One of my biggest regrets when moving out of my apartment was sticking heavy items in large boxes. Although the box did explicitly state that large boxes were for lighter items like linens and stuffed animals, I proceeded to throw in textbooks and kitchen items. That was an awful idea. Keep heavy items in small boxes while throwing your lighter items in larger boxes. Your back will thank you for it.

Also, make sure to pack like things together. The last thing you want to do upon moving in is to open all of your boxes because you forgot where you packed your toaster. Keep seasonal items together as well. In the Texas heat, the last thing you want to be pulling out in the summer is an electric blanket and a space heater.

Ask for help. Getting help will make moving so much easier. Whether they can help you in packing or moving boxes into your new house, more hands will make this task much less difficult. Ask people if they have spare boxes, packing tape, or a dolly. You’re already spending a lot of money on this move, so check if anyone is willing to part ways with a few boxes to cut down on costs.

Think about using storage. If you’re relocating near your old home, think about using a storage unit in Dallas to transition easier. Place big bulky items and boxes into your storage unit so that your moving day goes by smoother. Place that box filled with winter clothes in your storage unit for the time being.

Packing, moving, and relocating is a stressful process. Share some of your tips below!

Joseph Ver is part of the marketing team at SpareFoot. Use SpareFoot when you want to find storage easy!

by Tim Herriage Tim Herriage No Comments

Real Estate Investor Blogging

5 Tips for Successful Investor Blogging in 2012By 

Ready to start your real estate investing blog or just need to turn up the heat a little to start seeing more results?

Check out the following 5 blogging tips to keep you ahead in 2012, draw in more traffic and increase sharing…

1. Start a Column

Why not begin a column once a week dedicated to a specific part of your real estate investing business. It could be buying homes, tracking foreclosures or aimed at private investors. Give it a little character, weave a story and keep readers tuning in for the next segment.

Read More on the Fortune Builders website

 

by Tim Herriage Tim Herriage No Comments

What To Know When Buying Real Estate Investments

Essential Know When Purchasing Investment

You will find four primary factors if this involves making your investment in picking a your property purchase, which you have to consider:

1. The kind of Property you are looking for

2. Your current return needs

3. Your accessibility to capital

4. The way it matches together with your total investment plan

These factors make up the recommendations which fully figure out what to purchase, buying, and why to purchase property. All these is going to be considered individually.

Investment Options

There’s a lot of money in tangible estate. But there’s additionally a large risk otherwise performed properly. Initially when i first began to consider a desire for investment, I did not realize there have been a lot of options. This write-up will cost you through the most typical kinds of opportunities.

Real estate this really is really an excellent starting point since it is commonly relatively secure when in comparison with a few of the other kinds of property trading. The big disadvantage to this, however, is this fact investment vehicle needs a massive investment in advance and consequently is one thing that many property traders don’t consider until they have developed a powerful portfolio that they’ll leverage to supply the appropriate funding.

Residential Rental fees isn’t as high-powered like a real estate mogul, but it’s certainly a good model for creating an appropriate retirement plan. This really is really where many people get began in real estate game since it is not greatly hard to buy a good investment property after which positively gear it to ensure that rental fees remove the mortgage and property management expenses. As being a landlord (even when you farm the property management to some property agency or perhaps a professional Property Owner) is really a lengthy-term commitment with potentially excellent benefits. It’s also a great model for that high-risk averse investor to pursue.

Flipping this essentially means is purchasing a house and turning around and selling it on – without or with remodeling it, e.g. this type of investment requires an very detailed knowledge of the home market for the reason that physical area and a chance to make quick, hair-raising choices including enormous sums of cash.

Purchasing from the plan or Pre-Construction is even more risky than flipping, but is becoming insanely popular within the last five to ten years. This is where the cash elevated by selling qualities before they have even been built. It’s what funds the particular construction from the property often a block of residential flats. This mode of investment is, obviously, available to scam artists establishing fake property development companies as well as just unscrupulous property designers vanishing with all of those funds rather than even beginning construction!

However, if it’s legitimate, the actual excitement is determining a place which has a housing shortage or perhaps is set to boom within the next couple of years (possibly due to new infrastructure, for instance). In these instances, the earnings to make are considerable. So, like any kind of trading, the danger is generally compared towards the potential rewards and also the time-frame by which they’re shipped.

Lease to possess is most likely a more sensible choice for many non large-time traders. The entire type of leasing a house that you will eventually have the ability to call your personal is extremely appealing to lots of people that do not be eligible for a a home loan (youthful families, for instance). You are able to charge a bit more than what you will charge to rent the home, using the extra going to repay the key and also the agreement they buy the property to have an agreed sum after some time.

For you personally (the dog owner), additionally, it reduces maintenance costs. It’s much more likely your tenants will require better proper care of the home because they’ll most likely think about it as being “their own” Meaning when they choose to move elsewhere and never really undergo when purchasing the home, you’ll have much less drama and less problems obtaining the place ready for brand new tenants.

There you have it! Hopefully my article can help you decide if this involves Property Investment.

Regards,
Tim Herriage
Real Estate Investor
www.www.2020rei.com

Contact us:

www.twitter.com/dfwinvestors
www.facebook.com/dfwinvestors

 

by Tim Herriage Tim Herriage No Comments

Rental Package

PRICE CORRECTED

Here is the long awaited 31 door rental package.

The numbers are:

Pricing
Gross Monthly Income (projected)  $    17,225
Monthly Vacancy deduction of 10%  $     1,723
Monthly Maintenance deduction of 10%  $     1,723
Monthly Management (in place at 8%)  $      1,378
Additional Expenses  $      1,216
Net Monthly Income  $    11,186
Net Rent Multiplier 80
Multiplied rent  $   894,880
Needed Repairs  $    85,000
Asking Price  $   809,880
Financial Scenario
Purchase Price  $  809,880
20% down  $  161,976
Financing Required  $  647,904
Capital Required to fund purchase and rehab  $  271,272
Monthly P&I on 7% 15 yr. note  $     5,824
Monthly Taxes  $    2,623
Monthly Insurance  $        506
Monthly Cash Flow  $      2,234
Annual Cash on Cash Return 9.88%
After Vacancy, Maintenance and Management
Monthly Expenses on Duplexes and Lots
Monthly Duplex Rental Fees  $           36
~$2 per door (City – billed annually)
Water Bill Average  $          540
~ $30/mo. /door
Lawn Service for duplexes and lots  $          295
Electric  $           45
Trash Removal  $         300
 $       1,216
Other Pricing
Duplexes and Land Only  $    373,040
SFR Only  $    502,500
 $    875,540

Here is a spreadsheet of the entire package.  If you are interested in the specifics, please email me.  There is an interesting play on the 13 contiguous lots that equals three acres of MFR zoned land.  Here is the platmap.  It is zoned MF14 according to the City of Arlington.

Below you will find plenty of pictures!

by Tim Herriage Tim Herriage No Comments

Dallas Real Estate Investors and Warren Buffett

This has to be one of the most compelling arguments for buying houses!

literally, if I was an investor that was a handy type, which I’m not, and I could buy a couple of them at distressed prices and find renters, I think that’s— and again take a 30-year mortgage, it’s a leveraged way of owning a very cheap asset now and I think that’s probably as an attractive an investment as you can make now. But I think equities are very attractive compared to anything else.

via Dallas Real Estate Investors and Warren Buffett.

Top