All Forum Posts by: Helen Zhang

@David Dachtera

I appreciate your time in answering questions, and I think I stated earlier that I am a cash investor. So the way how I invest, should be at the same line on how the bank operates (except the bank is investing in loans and property and I'm only investing in property). I'm sorry I don't think I can completely buy your point. But thank you for your contribution. 

@Guy Gimenez , the property has general warranty deed. Not special or quit. That's an interesting story about the existing buildingon the property. I see where you are coming from.

@David Dachtera @Dave Dagostino @Dustin Haviland @Vinod Dasani @Peter Tverdov @Thomas S. @Dan Scarborough @Guy Gimenez @Will F.  

Thanks for all the collaboration. I like when we have this type of discussion. I apologize for not giving everyone the complete information.

1. The property is located in a city (not crazy wild farm land with 0 borders) with HOA.

2. I am not looking forward to do any exterior constructions (expansion, fences, second backyard house...etc).

3. It is not a property that is newly divided or newly constructed. 

I'm a strong believer of every single penny should not be spent if it's not necessary, and our real estate is being built on top of funds of every penny that we have saved. 

Regardless how much it cost to do a survey (even if it only cost a penny to do it), I would like to know whether it s a necessary step to do in my situation.  

Here is my simple counter-argument to "must purchase survey" (as I am playing devil's advocate): 

When I had to take out a mortgage, I don't recall any bank requires a land survey. I don't consider myself as a smart investor (who have seen it all), and I do think banks are likely to be smarter as they invest in massive mortgages (as they have a million cases in order for them to implement the *relatively* well-rounded investment process). If a land survey is not required in their standardized processes as a necessary item, why should it be a necessary item in my book?

Again, what I am referring to is residential single family home. 

@David Dachtera I disagree. What you are buying should be clearly stated in title. The lot can be found in public record. I don't think survey is helping to define anything that you are buying other than clear borders. 

@Dave Dagostino The title insurance is not the land survey that I'm referring to. I do have title commitment and title insurance. The land survey gives you the clear "borderline" of the land which is already documented in public record. I wonder what is the purpose to hiring someone to pull that public record and turn that thing into report and give to me. 

Hi BP community, 

This isn't the first time I'm doing a cash buy for properties, and I have never purchased a survey for properties before. However, this time it is different, I am buying a trustee sale. Should I purchase a survey?

I would love to hear from those of you who are also doing cash purchases. 

Helen Z

Hi BP community, 

I purchased a house that was previously owned by age 65+ couple who deferred their tax in Dallas county, Texas. It has been for a year since I purchased the property. 

Now it is interesting that the 65+ years exemptions still have not been removed from the record and I am still not paying the full price of the texas. 

I am reading Dallas exemptions which stated:

"Tax Deferral for Age 65 or Older or Disabled Homeowner

If you are a homeowner who qualifies for the Age 65 or Older or the Disability exemption, you may also defer or postpone paying any property taxes on your home for as long as you own and live in it. It is important to note that this deferral only postpones your taxes and does not cancel them. It also accrues eight (8) percent interest annually until the deferral is removed. When the property is sold or the ownership is transferred to the estate/heirs, the taxes and accrued interest become payable. The Tax Deferral Affidavit form is available on this site or you may contact Customer Service.

Note: If you have an existing mortgage on your residence, the tax deferral does not prevent your mortgage company from paying delinquent taxes; a tax deferral applies only to the collection of taxes." 

The question is: if I take the initiative and remove the exemption, would I have to end up paying for all the texas that the previous owner owed? (I know it is ethically wrong for me not to make a call and have this removed, but if I do it I also don't want to screw myself over). 

Thanks,

Helen Z

Hello BP community, 

I am interested to sell a property with special warranty deed (that I purchased from auction a while ago). Will I be able to grant the buyer standard grant deed when I sell this?

Hi BP community, 

I am in the process of selling a property and would like to know if 1031 exchange would work for auctions. I can't seem to see why it wouldn't work with auctions, but I would like to know if it would work with auction.com specifically? (I'm aware that the deals take a long time to complete, and sometimes the deals fell through). 

Have any of you ever tried 1031 with auctions? Let me know your experience?

Helen Z

On the side note, I would love to receive some referrals for 1031 exchange company that I can use for this 1031 exchange deal. 

Hi Thanh,

Congrats and welcome to real estate investment. I honestly think the best way for you to learn is to get your feet wet. 

FYI, I have a single family property that I am interested to sell. (It is not on market at the moment as I'm indecisive whether I should sell or rent as my tenant is in the process of moving out). I would love to have an investor purchase it from my hand and we can skip on the realtor fee (well, more like reduced realtor fee). 

The address is 757 Belasco Ave, Sacramento, Ca. My previous tenant are paying $1050/mo plus utilities. I'm interested to sell it for $150,000. (Zillow estimate is currently $160,000)

The property is in good condition as you can find more pictures on Zillow. The walls are painted with cream color but our photographer is just kinda crappy and made the walls look like it's dirty but I promise you the walls are clean. 

Let me know if you are interested. I know good property management that I've been using that can take care of the property or you can take care of it yourself since you have proficient in administrative duties. I'm happy to mentor you what I know during the process. =)

Good luck!

Helen Z

@David Thompson , my new company indeed offered me a relocation agent and relocation budget. But I also would like to learn more about pricing of the area myself before accepting whatever arrangement that is made by relocation agent. Afterall, I do have the right to refuse some of the services from the relocation agent.

@Dan Burstain , yes I am aware that the landlord is paying commission. But that commission will be adding up to the price that I pay. If I were able to reach out to the landlord on my own, I wonder if the price will be lower? 

Hi BP!

I am a software engineer full time and part time real estate investor/landlord. Recently, I have accepted an offer in Austin and looking forward to re-locate from California. I am targeting to have everything settled by January. 

I'm seeking for to rent a new apartment in Austin, and I thought I should start looking for landlord in BP first before start searching for Austin Apartments. I am seeking for 1bed/1bath unit or studio, under $900 in North Austin near GateWay, Quarry, and Domain. (I can careless if it's a condo/apartment/duplex). If anyone happens to have an unit open, I would love to have a chat with you. (Currently I'm not interested in buying a house in Austin yet as I don't know if I will like Austin). 

Even if you do not have any opening, please share with me your experiences on where would be a good place to find good apartment with fair pricing? 

On the side note, when I searched on craigslist, I noticed that there is such thing called "relocation agent" who helps you to find an apartment. Their rate seems to be a lot lower than the rate that is offered from Apartment.com. Is this legit? 

I would appreciate any tips and tricks =)

Thanks,

Helen Z