All Forum Posts by: Ryan Terwilliger

Land value is just a smaller piece to a bigger puzzle. Many times HCAD will be misleading as those numbers are meant for the district to tax you on and owner can get that appraised number down for tax purposes. It is the equivalent of looking at a ppsf on a home. The number doesn't really tell you anything about the home but is a small piece of the puzzle. Market value will continue to be driven by supply and demand.

I am not allowed to give legal advice however, until you own it it's not your property. If you can't trust your landlord do you really want to live there? Valuables can be stored in a safe, storage room or safety deposit box.

You could try a personal loan from a bank, a line of credit or just sell it.

A properly repaired foundation is better that not if they are putting pillars in. Visualize digging your fingers in the ground, it grabs hold. There is so much clay in much of the city that foundations just move. It is normal. If all thing are equal on two houses I would choose the foundation with pillars as opposed to no pillars.

I don't think that I would even look for a home at that price inside the beltway unless I steal was brought to me.  Usually the tale is the schools zoning. 

Screen the dickens out of them.

1. Champions RE school is the best. They are a little bit more money but worth it. They ask questions that are actually on the test.

2. Research all the individual brokers not just the brand. Meet with them and get a feel for the office. Make sure to find out who is doing the most $ in the area that you want to work and all of this while you are schooling, don't wait until the coarse work is done. This is in addition to caps, desk fees and training that are normal consideration.  

3. If you are at home and have the spare time ask the broker or even a team leader to intern even if it is a couple of hrs a day. This will help you get used to talking on the phone and get a sense for all the work that goes into just getting a lead.

4. Hang your license and go to work immediately. I made the mistake of over training before I got serious about lead gen. Talking on the phone, or cold calling, is the best teacher even if you don't get a listing appt. 

Piece of advice here, get over the "doing the job" mindset. Doing the job is easy. Lead gen and staying away from legal issues while providing your client thoughtful, experienced advice is another.The contracts almost write them selves.  

Good luck.

Historically the margins have just been too small or non-existent for condos. I think most that have any experiences just don't even look at them anymore. However maybe that because SFR is so inflated right now that condos are the way to go. Historically though condos don't bring much equity but do bring high turn over, repairs, evictions and fees....this means more risk. If the numbers work the numbers work.

Contrary to what the RE mentors might say, the deals just are not here. Yes you can find some with a lot of time but at the end of the day most working folks do not have the time to dedicate to basically wholesaling. My advice to pick up rentals is to look into growth areas outside the populated areas, even consider new construction, try to network at meetups, find some cash to spend or just wait. Equity is getting hard to come by though. 

Any contract is legally binding to the parties expressed on the contract itself. If you are referring to the 1-4 SF contract, there is space allotted for agents which would also be legally binding. 

The Listing Agreement has a protection period though. If an agent was the procuring cause of the transaction and so stated on an agreement he should have some protection. Good luck if they want to cut you out though.

So really the answer is, did you get your name on anything?

I work in the Cypress, Spring and Woodlands areas. There are several different ways to pick a broker. 

1. Name recognition.

2. Look at the $ flowing through, it's all public info.

3. Training.

4. Call the agents and brokers and ask them. Remember you are interviewing them.

5.  Ratings online. My broker is rated one of the top five place to work in Houston by a business magazine. 

Just find what is important to you and do the work but don't just pick the first one that you interview. Remember that you will be branded tho that office with all its marketing materials. Switching is a big deal.