All Forum Posts by: Debra Grumbach

I didn't read the whole thread but here's my advice. Cancel the contract with the agent. If s/he gives you static, talk to their broker. There is no reason your property should be empty so long.

As someone who has been an agent in the past and has rented now 3 different properties here in TX (for my personal use), I am extremely surprised that your agent thinks the tenant is going to pay the commission. Personally, I would never rent a place where I had to pay the commission. That's akin to listing a house for sale and thinking the buyer is going to pay your agent's commission.

@Tonya Weathers I found some interesting stuff.
https://www.thumbtack.com/tx/richardson/painting/c...
https://www.manta.com/c/mhx3n3y/skandia-constructi...

Formed in 2015 https://www.corporationwiki.com/p/2ihf5z/skandia-c...

Thought this was interesting on their FAQ page:

How do we pay you?

At Skandia Construction LLC, we will create a project plan at our first meeting that details every cost aspect of the project. Payment will be expected at various points during the project, and will be spelled out clearly in the contract to avoid surprises. Our financial specialist can help advice you with lenders here in Plano that can help you apply for home equity lines of credit if necessary

http://skandiaconstruction.com/f-a-q/

https://www.facebook.com/peterjohannesenrippedmeof...

And some more http://www.insiderpages.com/b/15257471596/five-sta...

I would be very cautious. I am making no judgments, but it usually takes quite a bit for someone to get this public with a dispute.

Right on about the number of bedrooms and rent comps. A 3/4BR is more likely to be rented by a family and being in a good school area will/should appeal to families. I would suggest you look at what SFR of the same size rent for in that area. There may be a "slight" discount going to a duplex, depending on how it and the yard are set up, but shouldn't be much. (as a mother and former realtor and former property owner and tenant, and given my frugal nature, All those things would factor into renting a duplex)

just throwing this out there. I don't think Dallas itself is the only city in this area that could be in the running. I could easily see some of the suburbs, where the ability to build custom space, would be attractive. Even existing space in the "suburbs" of Dallas would provide many of the same advantages of new space and the location to Dallas.

Have you even spoken with the owner of the property? Do they have any desire to sell? If so, why? What are they in need of? Quick close? Lots of money? Someone to solve his "tenant problems?" Not interested in dealing with it any more? And if so, why?

Find out what the seller needs.

@Account Closed - I realized that it's not a warehouse part way through my response. I should have removed that part. But I still don't see them locating that many people at Collin Creek Mall which is why I mentioned the Legacy West area and what used to be the JCP campus (I think it's called The Campus at Legacy West by the new owners). 

50K jobs?! That's huge. How much space does that even take? And I just checked and that number is over the next 15-20 years but still....

@Nicolas Conca - seriously I would find a lender well versed in VA loans and ask them what restrictions you may face. I have never heard of the VA "red lining" based on zip code. Sounds more like the realtor was doing their own "red lining."

@Anirudh Singh Toyota moved to Plano, FYI. 
@Account Closed I don't see a warehouse going in at Collin Creek. I believe that area is going to stay a mall but become much more upscale. That's the "word on the street."

They "recently" added a fulfillment center in the DFW area IIRC. I can see them moving their HQ to the Legacy area of Plano. After all, it seems to be the place to go. JC Penney sold their campus at the very end of last year. I know they only occupy a small portion of the space and the whole place is being done over and will be getting leased out. JC Penney will maintain their presence there. But they may find it more tax friendly, and have more options, to place the HQ in Frisco. Afterall, if they care about the people working at HQ, the employees will have more agreeable housing options in Frisco. 

DFW is already a very HOT market. If Amazon (or anyone else) brings in 5000-10000 more jobs to Plano/Frisco. Wow! Housing will get even more expensive.

@Tony Karns - yes, not likely to find too many 4 plexes in DFW metro, especially not set up as 3/2 and 4/2 for your price range. Do you know yet where you will be working when you get to DFW? And how far and how long would you be willing to drive to get to the job? If you are more on the Ft Worth side of things you may find some 4 plexes in that area or west of it. Not sure if they will be within the max loan amount the VA will fund. You should get your Certificate of Eligibilty (you can do this on line) and see the maximum benefit YOU have.

This link will walk you through getting your CoE online. https://www.benefits.va.gov/homeloans/documents/do...

Tony - if you need a lender I would be happy to recommend one who is knowledgeable about VA loans.

@Nicolas Conca VA loans are NOT restricted to first time buyers. They are limited to being loaned for a primary residence. Tony will be moving to TX so as long as he occupies 1 of the units, he can use it for his personal residence.

If you have been told that you can't use your VA loan, stop working with that person. Many people feel that VA loan buyers are going to make things too difficult - the financing will be difficult. Nothing could be further from the truth. The VA does have some specific guidelines though so at the very least you need a lender who originates plenty of VA loans. They have always been my best guide. We have used VA loans twice and almost did a 3rd time this year and we still learn things. We have bought a condo with a VA loan and a house that was 80 years old and most recently almost bought new construction with VA. Each deal had it's own things to consider. Condo - owner occupancy rate in the HOA and financial stability. House - thorough inspection including pest inspection. New construction - you can't close without a pest inspection or a lawn. And each time it was our lender who guided us about what to expect. None of these things were ever a problem to closing on time.