All Forum Posts by: Samantha M.

I got associate MLS use. I mostly do SFR rentals myself, but sometimes I get a lead that doesnt interest me for whatever reason and for those I plan on wholesaling.

Anyways, in the MLS I am able too look for transactions that were settled in cash. Based on the example image below it looks like there are two ways to find cash buyers investors using the MLS.

1. Contact the sales agent of the sold property and let them know I have another property in a similar area of the one they just sold available, and to bring their buyer to the table.

or

2. Go into the tax roles and see who the new owner for the property is, and either mail him or call him directly

Does this reasoning look sound?

Michael Quarles

Canvassing a neighborhood with walking and knocking always sounded interesting to me. Would you mind giving us a general break down of what you say? For the people that are interested do you inspect the house on the spot and make an offer? Im sure we could all benefit from a breakdown, thanks Michael.

Carlos F. Im having a tough time in DFW right now too trying to find more SFR rentals. I wonder when more inventory will come on the market, because right now its plastered.

My gut feeling tells me interest rates are going to rise here in DFW here shortly. What key indicators do you look for, or what business websites do you monitor to figure out when interest rates may rise?

Is there a way through google to see what the most common search terms the average user will enter into google? For instance if I am a motivated home owner looking to sell my property, what would be the common searches I would use?

Sell my home (city name)
Sell my house fast

etc.

Is there a way to see what common search trends are for google specific to this?

When you go to sell your rental property, typically how much do you lose to capital gains taxes? For instance I have a rental property we purchased in 2008 for about $60,000 after rehab and fast forwarding several years the fair market value of that house is about $115,000.

How would capital gains work in this case, I assume they will try and get me on the $115,000 even though I purchased it for $60,000. The amount in capital gains I have to pay, is that a percentage? I am not thinking about selling anytime soon, it just seems like if you are in the market to buy and hold and buy low and sell when the market recovers alot of your profit margin will be eaten away by capital gains.

Thanks everyone

K. Marie Poe I was just curious regarding the terminology. I am thinking about marketing to probate leads to pick up some potential rentals for my portfolio.

If the property has been deeded over to one of the heirs it is no longer considered an estate property correct?

For instance if Jane Smiths property on 123 Green Street is going through the probate process it is still an estate property. However, fast forward a couple months past probate court and the estate has been deeded over to one of the heirs, now the property is no longer in probate or an estate correct?

I am a bit confused by the article, hopefully someone can clarify.

First paragraph reads “With most Texas foreclosures, you do not owe your mortgage lender money after the foreclosure sale, even if the sale amount is not enough to cover your mortgage balance. But if the foreclosure is on a home equity loan, you could be on the hook for a deficiency”

The opening paragraph points out how the homeowner could be on the hook for a HELOC. But then the article goes on to name ways both judicial and nonjudicial in which a lender will seek deficiency within the state of Texas.

For instance:
“Nonjudicial and Judicial Foreclosures: Deficiency Judgments Allowed… In Texas, the lender may obtain a deficiency judgment after a nonjudicial or judicial foreclosure. (Tex. Prop. Code §51.003, §51.004).”

“There is no Texas law that says a lender cannot get a deficiency judgment following a short sale.”

Seems like lenders can seek deficiency within the state of Texas in most cases afterall.

Kind of embarrassing that I dont know this, and owning 6 rentals in DFW, but is texas a deficiency state?

Also for homeowners that are able to demonstrate hardship, do lenders sometimes waive the deficiency?