All Forum Posts by: Beth Phariss

@Femi Ibrahim I am so sorry this happened to you! I will steer clear. Just a suggestion, of course I would check with the city first, but would they grant you the permits if you were either granted an easement by the neighboring property or even ask the neighbor to purchase the land to resize the parcel. I know it’s a long shot but I just hate for you to be out all that money.

@Pete Harper for your Bryan rentals, are you mostly renting to college students? I have been looking in that area a little.

@Sadie Bynum the most important issue shouldn’t be the square footage but the appraised value. If the appraisal value is below the contract price and you included an “Appraisal Clause” stating if the home does not come in at value or “Financing Clause” stating that if you can’t obtain financing you should be able to get out of the contract and get your earnest money back. Also, surely your lawyer had a back up to advise your while they are not available, if not, might be time to shop lawyers. Does your state require surveys? Surveys are usually more accurate because their equipment is far more advanced,

@Ian Hamrick travis County, Williamson County, Bexar County, and I believe Hays co as well all have lists online at their cad sites 15 days prior to auction.

@Bradley Chiakas I am running into the exact same thing. There are a few that could be fixed up to obtain higher rental rates, but I think I am going to start doing some direct mail to try to get some off market opportunities or trying to find a wholesaler.

@Cory Mortensen I have been watching the Cedar Park and Leander area since they announced that Cedar Park has proposed its own “Domain” style area. https://www.google.com/amp/s/www.kxan.com/news/local/austin/first-look-1-5-billion-cedar-park-project-to-rival-the-domain/amp/

Have you seen an uptick in demand there?

@Costin I. great info! Thank you for taking the time to share the risks. There is a bid for the repair around $20,000. I will go look at the details and see what this includes. 

@Caleb L. I agree with you on those markets. I am not yet an investor, but I do aspire to become one in the next few months and I am finding the rents vs prices just don’t make sense for me. I drove through Taylor the other day and I liked the redevelopment I saw in the downtown area. Do you have any opinions on Taylor?

@Michael Jones I love the Hutto area and I think you are definitely on the right track. Have you considered reaching out to one of the chains (ie. High 5s, Epic Fun, etc)? Even if you are not interested they may have some good information on getting started in that type of business. Also, if there are any stats you need pulled I can help with that just shoot me a message and tell me what you need. Good Luck!

I know it is fairly common in the Austin area to deal with foundation issues.  I have the money for the repairs and the down payment.  Is it possible to get financing with a foundation repair allowance of some sort, or some way to put the amount in an earnest money that could be released to the owner to have it fixed prior to closing which would be refunded if the sell doesn't close.  Just looking for creative options.