All Forum Posts by: Laura Sulak

There are dozens and dozens of online schools for obtaining your license. TREC's website is your best source for anything real estate in Texas. Information on becoming a Realtor in Texas can be found here: https://www.trec.state.tx.us/licenses/salesapp.asp I'm planning to do the same thing, so I would love to hear from experienced Texas Realtors on this topic.

Oh, and I forgot to reply on taxes:  Taxes in this area are historically lower than the actual value of the property, and they don't rise quickly. Enjoy the low tax values. It's one of the advantages of living in this area. 

@Jordan Lagrassa. Hi! I'm in Temple, too. I'm just about to close on my first rental properties, but I've lived in several older homes in the historic district, and shifting will always be an issue. Real foundation problems, if repaired correctly, should last a long time. 

Who are you thinking of using for your foundation repair? Honestly, I haven't heard much good news about foundation repair companies around here. Often, an experienced contractor can do foundation repairs at a lower cost without compromising quality. 

And in which part of town are you buying? The south side of Temple is known for foundation/shifting issues. 

PM me if you'd like. I have the name of a good contractor who could at least come take a look at the property and give you his opinion. Best of luck to you!

Welcome, Jennifer! I'm in the same position as you, but in the Temple/Belton area. Just wanted to say hi and welcome to posting. I'm interested to read the replies, as I hope to move into the Austin market at some point. Best of luck to you!

@Account Closed Hi! Thanks for taking the time to reply to my post. Fortunately, this is in an older, historic neighborhood where this kind of problem is common. The neighborhood has SFRs, MFRs and apartments, and the city has no plans to build or develop here. There are no more empty lots, which is a good thing.

The owners are being super-diligent about pursuing rezoning as quickly as possible. They're two older couples I've known for a long time, so I know they'll come through on rezoning. Plus, they're ready to pass the properties on to someone else, and this problem will arise with any buyer.

Thanks so much for sharing your experiences!

If I've missed this feature somewhere, forgive me, but it would nice to see a "news feed" of our colleagues' posts, questions, answers, etc, like other social media platforms. I'd like a quick look at what others in my network/area are doing and talking about. 

Thank you for asking us for our input. You guys are awesome!

I was set to close next week on two MFRs (same owners, same street), but the appraisal revealed that they're both zoned as SFRs. This is in a historic neighborhood, so the renos were done before a permit was required. The bank will not do a conventional low-interest loan on a property that, in the event of total destruction, could not be rebuilt as a MFR. They will only do a 3/3/ARM, which will cut into my cash flow, big time.

The owners had no idea, but they're working with the city to have the properties rezoned. Here's the problem: It's going to take 2-3 months to go through the re-zoning process, which means these deals cannot close until July. That's a long time for my funding to be tied up just waiting to be used.

Has anyone else had this problem? I'm in Central Texas, north of Austin, and I know zoning laws vary from city to city. I'm curious to know: What issues did it cause for you, and what was the resolution? 

Cindy Franklin is also excellent. http://www.templecpa.com/ Please post an update on this thread if/when you find someone, especially someone who specializes in real estate.

@George Tak, thank you for your input! Actually, I'm interested in becoming a realtor to benefit my REI business, not to have a career in the real estate industry selling properties. And I'm sure your point is valid, too, for those who are just investors - the cost becomes less significant relative to the success of their business. It's still a goal of mine to pursue a real estate license, and CE and maintenance are also tax deductible in REI. Thank you for the encouragement to go ahead and pursue the license!

@MiguelB thank you very much for the information! Wow, I knew it was expensive, but I had no idea it was that much. Definitely good information to know, so thanks for sharing!