All Forum Posts by: Diego A.

Hi @Rajagopalarao Paidi

I just closed on a lease in Fort Worth, right next to NRH, and it was quite a challenge, but we found the perfect tenant.

I work a lot in the mid-cities area and generally haven't seen the market impact that's present in other cities, as long as the property has the right marketing and is priced correctly. A few months ago, I even sold a distressed house in Hurst for over the asking price.

North Richland Hills can be a bit more challenging due to some of the older areas. However, rentals there are still moving quickly; it all comes down to effective marketing and pricing.

Hi @Travis Mize

I'm so sorry to hear about your dad's passing. Losing a parent is incredibly difficult, and I can only imagine what you went through.

Your journey is truly inspiring. While my path was different, I completely agree that seeking out challenging situations is the best way to learn and grow. Tackling the "worst" properties head-on forces me to develop skills and resilience much faster than you would with easy deals. It's that kind of mindset that leads to real growth, both personally and professionally.

Hi @Kay Sam

Losing money on an investment is tough. I've been there myself, thinking an opportunity looked promising only to see it turn south, so I understand how you feel.

It takes a lot of courage to open up about something like this, and that vulnerability is actually a strength. You've already taken a huge step by acknowledging the problem, which will be a great asset in any future deals. The knowledge you've gained from this experience will help you avoid similar pitfalls down the road.

Keep it strong and reach out if I can help you in anything. I am local in DFW.

Hi @Alex Macias

Welcome to DFW and Real Estate!!!

It is awesome to hear your flexibility on finding the next move. That is something that is very much needed in a market such as DFW. 

I would recommend you to begin with a rent by room if you are up to that. Southlake and surroundings is a great market for that.  

Hi @Claudia Macias

Welcome to the Real Estate world. I love to hear about your aspirations. Keep it up.

Hi @Neil Jenkins I would love to hear more about your experience. Being in DFW, I have seen very difficult to find that out.

Quote from @Axel Scaggs:

Quote from @Peter Walther:

I believe zoning matters are excluded from coverage in most standard title policies but there may be some coverage if you purchased a Homeowner's form policy.  Even then there may not be coverage unless the city forces you to remove the improvement.  I suggest you submit a claim to the insurer and see what they say.  The worst they can do is deny coverage.

On the seller disclosure, they checked "No" under "governmental ordinances affecting the condition or use of the Property." Would this not need to be disclosed? I used a realtor, purchased title insurance, had an inspection, received a seller disclosure, spoke with the seller's agent. 
I'm just baffled that I wasn't informed by anyone.

 Hi Axel, this is tricky situation, the seller's disclosure is something that you can take on with an attorney to investigate. It will also depend on what was written in the contract, in Paragraph 6.D you have to write the objections, it is common practice to write what is going to be the use of the property there, e.g. "residential use".

All this however will require you to go back to the seller.

Title insurance could cover zoning violations, however you have to see on the title commitment what was reported there.

If you are trying to refinance I believe you are looking for a LTR, STR, or MTR, I would assume. In that case, you can still go with it.

Commercial zoning will not be a bad thing depending on the location and the neighborhood. You can convert it to a commercial space which could bring higher cash flow.

In conclusion, there are options and if you play the game well it could benefit you, however that will also depend on your needs to resale and holding time that you are looking for the property within other aspects.

Hi @Jesse Paxton
The 1% rule is often a hot topic. As mentioned in a few BiggerPockets podcasts that were recently released, this rule is a simple guideline to help you quickly gauge a potential deal.

Here's a breakdown of the key takeaways from those discussions:

- The 1% rule is a starting point. It's a quick way to screen for deals that are likely to be profitable. Don't be discouraged if a deal doesn't meet the 1% rule; most properties don't.

- Finding 1% deals is still possible, but it requires a solid strategy. These types of properties are harder to find in today's market and often require a lot of experience. 

- The most important metrics are cash flow, cash-on-cash return, and appreciation. These three metrics are what truly determine the success of your investment. Your investment goals will determine which of these metrics is most important to you.

Remember, a successful real estate investment is based on a solid understanding of the numbers and a clear strategy for what you want to achieve.

Hi @Joehn B.

This is very informative but I have experienced similar situations. 

The first thing is that your friend reaches out a real estate attorney immediately. If you need a reference in DFW DM me and I can provide you with some.

There are many pieces of the puzzle when it comes to domestic violence and lease agreement so it could go many ways and it is better to get professional help quickly.

Hi @Tricia York

This is a major reno. I would say to be very careful with the estimates and request few quotes.

I had the situation that a pool refill won't be that expensive and turn out costing around $35k.

Let us know how it goes.