All Forum Posts by: Ken Wang

Dear BP fellows,

  I am wondering if anyone has rental experience in Terrell, TX 75160. Is this a good rental location, and any good PM covers that area?

Many thanks,

Ken 

Investment Info:

Single-family residence buy & hold investment in Flower Mound.

Purchase price: $355,000

Since we are relocating from MD to DFW, TX, due to pandemic, we chose to buy house remotely. To minimize the risk of remotely buying primary residency, we figured to take advantage of low interest rate, and buy a house with reasonable profit for house hacking. We will rent later after 10 months when we buy another primary residency after we are better familiar with the environment.

What made you interested in investing in this type of deal?

15 years 2.5% primary residency rate, great school district and location, stable appreciation.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

conventional loan

What was the outcome?

Expect 10.8% return, >$720, principle built if rent @ > $2350 after all the repair, PM vancancy taken into account

Lessons learned? Challenges?

Relcoation from MD to TX, due to pandemic, we bought this house remotely so there are some details of the house we missed through virtual tour.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Vincent Wright, great agent

@Megan King @Lucia Rushton thank you so much for sharing the info with me!! appreciate!

Dear Investor fellows,

Would you please recommend good lender for DFW area? I am relocating to Dallas and plan to buy residential and investment properties. 

Many thanks for your time and reply!!

Ken

@Tyler Hodgson@Andrew Postell thank you guys for such prompt reply. I feel warm that I got so many feedback from BP!

thanks @Neil Aggarwal will be working UT Southwestern medical center so likely move to 75019, but investment properties could be DFW region

Dear All,

I am relocating to DFW area. I am looking for a residential buyer agent as well as an investor-friendly agent. I will be buying my primary residency and investment properties. If you know good ones, could you recommend them to me? I really appreciate your attention to this post!

Sincerely yours,

Ken
 

Dear investors,

  I am interested in a rental property. The property is located in Brooklyn, MD, AA county close to the Belle Grove elementary school. I am wondering how you guys like this neighborhood. I have driven around and checked the crime data. It looks like a reasonable area for me for rental. I would appreciate your thought!

Sincerely,

Ken

Thanks Tom. Yes I am aware of the redemption plan and the appraiser also mentioned this. There could be something I am not aware of. I think for my case, the ground rent holder never shows up and previous owner was not even aware of ground rent for at least more than 13 years.

Thanks, everyone to respond to my post :p Just something FYI, my appraiser also told me at least for my case, the ground rent is collected by Baltimore city which is part of property tax.