All Forum Posts by: Steve S.

@Steve S., you really need to supply more information before we can give you any real feedback. For just insurance call an agent and ask for a quote, it should only take 10 minutes or so. You need to know how much liability you want on the policy, how big of a deductible, area it is located in, etc. Good luck on your investigating.

Ok thx. Any additional

Info needed regarding the deal metrics? The insurance question was just a corollary.

0 Votes

2 duplexes w 4 bedrooms and 2 baths each

0 Votes

what would insurance on a property like this run me a month?

0 Votes

Built in 2001

2 duplexes - 1,650 sq ft each

4 br / 4 bath

Cap rate - 6.1%

NOI - $43,000

Asking price - $700,000

0 Votes

Originally posted by @Freedom Jonson:

hi steve s about rents in that area you could try 2 different things. 1) do you have an agent friend you could call to give you rents in that area? 2) use rentometer.com.

my best advice is use rent comps in that area from the mls to get the most accurate numbers. what i would do i use one of my real estate agent friends and say hey, " i'm looking at at property in this area and i want to know rents. since i plan on buying a prop or more a year, and possibly buy some homes thru the mls, would you like to check out the rents in this area? take him/her out to lunch and get the convo started? win-win situation:)

if you dont have any agents friends im an investor and an agent and i could help you also!

Good luck!

freedom johnson

I don't have an agent in the DFW area. Any help would be appreciated. Rentometer.com came up with some data though but would like to qualify it.

1 Vote

thanks for the thoughts. I'm having it done tomorrow. We'll see how it turns out.

0 Votes

The price I paid is not what's on the appraisal district website.

Is there a way to do this before the bill shows up? How would I do this accurately?

0 Votes

exactly what I concluded. Thank you for confirming. Surprised BBB hasn't shut them down

0 Votes

At the top it says:

"This service to obtain a copy of your property assessment profile and grant deed or other record of title is not associated with any govt agency. You can obtain a copy of your gran deed or other record of title from the county recorder in the county where your property is located in."

Down below it says:

"Why you need a copy of your current grant deed and property assessment profile? First Documents recommends that all TX homeowners obtain a coyp of their current grant deed and Property Assessment Profile. These documents can provide evidence that the property was in fact transferred and or has interest to <me>"

The fee to obtain this is $83.00

Anyone ever heard of this? Seems like an unnecessary racket.

0 Votes

Originally posted by @Steve S.:

Ive been fortunate to have accumulated a fair amount of cash. When I've made my purchases of SFH rentals, I've typically written a check for about 25% down.

I've come to realize a better way may be to add a lien on equity in a current property as collateral for the down payment against the next property.

This would prevent me from having to tap into my cash for subsequent properties.

Can someone explain to me how to do this? I'm binging and googling for some good links as well.

Imade a typo. Not finding. I meant funding

Can't one put a lien on a property you already have equity in as a down payment on the next investment?

0 Votes

All Forum Posts by: Steve S.

Steve S. has started 294 posts and replied 637 times.

Post: Exciting 2 duplex / 8 units near college campus

Post: Exciting 2 duplex / 8 units near college campus

Post: Exciting 2 duplex / 8 units near college campus

Post: Exciting 2 duplex / 8 units near college campus

Post: Potential rental in Arlington, Tx

Post: Bathtub refinishing for a rental

Post: I just bought a property. How do I project my property tax?

Post: I received a letter from "First Documents" about my deed

Post: I received a letter from "First Documents" about my deed

Post: I think I made a mistake. Question abt finding deals