All Forum Posts by: Michael Dang

If they have Freddie Mac or Fannie Mae agency debt, they are required to have a third party management company.  

It's best an investor talk to a few locals in order to determine the aggressiveness of that specific county's tax appraisal board.  For example, Harris & Tarrant county are very aggressive and have many tactics to determine the purchase price of a property even if non-disclosed.  While Robertson or Jefferson county are not as aggressive.

Houston, DFW, SA, and Waco all have great underlying fundamentals.  Job growth, population growth, rent growth, industry diversification, income growth, low crime, and lifestyle.  As always it depends on the submarket within each MSA.  Plus, the ease of finding qualified contractors, money lenders, and etc are prevalent in these markets.

Simple answer no.

I'm going to challenge you and ask why do you only want to invest in inner loop properties?  I assume you mean inner loop as Loop 610.  There are so many other good neighborhoods for investment outside Loop 610.  If you can share what your investment criteria are then we could possibly help more.  I have properties outside Loop 610 and they have been great to me.

You mentioned that you are uncomfortable with networking, then I have to challenge again.  In order to grow and learn one must have to get uncomfortable.

Have you built out your team to assist you to quickly identify and analyze properties?  E.g. mrg broker, wholesalers, real estate agents, private and hard money lenders, contractors, and etc?  This is a team sport.  Have you considered partnering withing someone with a complimentary skillset?

All good info from previous posters.  Think of your exit strategy with those FP panels.  The next buyer may avoid purchasing your deal or they may not be able to find insurance and/or lenders that will accept those panels.  It'll cost you more tomorrow than today.

@Wei Cui I suggest picking up the phone and call some developers. Building in spring Branch vs River oaks vs Bellaire vs sw Houston will vary your costs.

Just a suggestion.  Network with like minded people and colleagues in the asset class you are interested in.  Wholesalers, agents, lenders, private lenders, and etc.  Build those relationships.  Processes are great and should not be ignored but equally important (if not more) in real estate is who you know and who knows about you.  There are a lot of meetups out there.

@Anand Mundada - Look at the past years local MLS Real Estate and economic business reports. It should give you good information on the different submarkets and path of progress. In my opinion, property taxes are not high if you account that Texas has no state income tax. Just need to account for it in your proforma analysis.

There are a lot of other markets besides DFW that are attractive as well.   New construction will not have lower taxes.

Connect with a few local real estate agents to get more informed.

Ask the listing agent if you can obtain the inspection report from the buyer or ask who the inspector was.  If that isn't possible, ask the listing agent questions regarding the property condition and what lead to the buyer withdrawing?  Can't hurt to ask.  It maybe enough information for a decision.