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All Forum Posts by: James H.

James H. has started 24 posts and replied 135 times.

Post: Condo - Two Months on Market

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62
The amount we have been asking for the past 2 months is at the 11am position on the clock.

We just decreased it to the 10am position.





Originally posted by @Brian Garlington:

Go onto rentometer and type in your address....that should give you an idea if you're asking the right amount of rent. Here'a hint....see what the "median" amount of rent is.....and then go "slightly" under it.....You may not get all the rent you want....but it will definitely give you a VERY good idea what you should be asking.   

Post: Condo - Two Months on Market

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62

Bruce, I just sent you a private message with the address.  The answer to most of your questions is "yes."  Live answering.  Text.  Flexible appointment times.  Yes, we would pay Realtor commissions.

You mentioned a sign.  We had one for about 10 days - before it got stolen.  I got one call from the sign.  It was a gentleman who claimed that he was currently paying $900 for a 2 bedroom in the same area.  (I do not believe that.)  I told him that I would suggest he not move because he is getting a bargain. :-)

Post: Condo - Two Months on Market

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62

Looking for suggestions...

We have a two bedroom condo in North Dallas (North of LBJ) in a decent neighborhood.  We bought it two years ago, fixed it up a bit, and put it in the market.  We got about 5 serious calls per day and had it rented within a week.  The tenant moved out at the end of June.

On July 3, we put the condo on Zillow, Cozy (which lists it on Realtor.com), and several other sites.  We have gotten 2 to 3 inquiries per week since then and just 3 showings.  The vast majority of inquiries are not serious and 75% of the showing appointments have not shown up - even though we exchange texts about an hour before the showing to confirm.

Our asking price for rent is $100 more than it was two years ago, which is still $25 lower than the two bedrooms at the apartment complex across the street.  (The complex across the street is not nearly as nice.)  At one point, we lowered the rent back to where it was two years ago.  But, that week, we got no calls at all!

On Sunday of this week, we posted the condo to Craigslist.  We verified that the listing as posted.  But, we got no calls from Craigslist.

Suggestions?  Has the rental market slowed this much?

Jim

Post: Large Wholesalers in DFW

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62

"Steve Buys Homes"

Post: Death/Probate and Eviction Records

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62
I am familiar with that and have met some of the people involved (Steve, Juan Carlos, etc.)

But, MLS Deal Finder only helps with homes that are listed for sale.

Imagine this scenario: You see an obituary and no kin are mentioned. CAD shows that the deceased owned a home. A drive-by view of the home indicates that it is in disrepair and has not been occupied for a while. A year later, the situation is exactly the same... Same deceased owner listed in CAD. Nobody occupying the home...

Where can you go with that?

Originally posted by @Mark Sewell:

Look into MLS deal finder - Texas based outfit.

Post: Death/Probate and Eviction Records

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62
Sometimes that is the case. But my experience is that it is usually not.





Originally posted by @Michael Jones:

I'm very interested in learning more about this as well. Have you tried checking dcad.org and seeing if "estate" is listed as the owner name? Might try that.

Post: Death/Probate and Eviction Records

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62

I am interested in contacting estates about abandoned homes and am also interested in contacting landlords who have just had to evict tenants.

I went to the JP court of a judge who presided over an eviction that we had to do last year.  I spoke to the staff and even to the judge.  Both told me that there are no records of court cases that the JP has presided over.  Does anyone find this odd?  I would have thought that the office would at least keep a calendar for the judge so that cases are not double booked.  And I would have thought that such information would be available either online or with a FOIA request. 

The second question is about death and probate records.  I notice that many abandoned homes are owned by people who have passed away and that many of them have no relatives listed on their obituaries.  Without that information, how can I find out who the administrator of an estate is?  

Jim

Post: NY Licensing - Taking Exam as a 17 Year Old

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62

This is a crazy question...

I have a 17 year old who is going to college in NY.  He is a freshman at a community college and is working on an Associates degree in Business.  Before he went off to college, he was very involved in our rental/rehab business and is quite good at being able to evaluate properties for rehab scope/cost, marketability, etc. 

He would like to get a real estate license as soon as he turns 18 and would like to work with one or more brokerages to do research (tax records, mortgage records, CMAs, etc.)  And he is also interested in working with investors to write/negotiate aggressive offers.  He would like to get started as soon as he can get licensed.  Is it possible for him to take classes for credit now and then write the exams after his 18th birthday?  How about classes and exam now - and just hold off until his 18th birthday to actually apply for a license?


Jim

Post: Buying today in Dallas? What's your strategy?

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62
I think the assessed value is around $450K.  +/- 5%.  School district is Plano.  County is Collin.  And city is Dallas.

Originally posted by @Ronald Rohde:
Originally posted by @James H.:
I am not sure where you are located.  But, my personal home is in the City of Dallas and Collin County.  It is valued around $450K and my property taxes are over $10K per year.

Originally posted by @Ronald Rohde:
Originally posted by @Hunter Peterson:

@Andy Webb @Ronald Rohde 

I think that $10k is a much bigger factor in CA than TX with the way things are set up. 

If you don't mind sharing, could you provide the rough numbers on what that tax situation looks like in TX? You're suggesting it would take a $2M property to amass more than $10K in property tax? From my little understanding, I thought the property tax was higher in Texas than in California. 

 A $300k prop in Dallas county around $6k in tax

$600k in Dallas is about $7k

 What school district? Is that your assessed value?

Post: Buying today in Dallas? What's your strategy?

James H.Posted
  • Investor
  • Dallas, TX
  • Posts 135
  • Votes 62
I am not sure where you are located.  But, my personal home is in the City of Dallas and Collin County.  It is valued around $450K and my property taxes are over $10K per year.

Originally posted by @Ronald Rohde:
Originally posted by @Hunter Peterson:

@Andy Webb @Ronald Rohde 

I think that $10k is a much bigger factor in CA than TX with the way things are set up. 

If you don't mind sharing, could you provide the rough numbers on what that tax situation looks like in TX? You're suggesting it would take a $2M property to amass more than $10K in property tax? From my little understanding, I thought the property tax was higher in Texas than in California. 

 A $300k prop in Dallas county around $6k in tax

$600k in Dallas is about $7k