All Forum Posts by: Tyler H.

- Adjudged value is the market value of the property, as determined by the court.

- Tax Sales are all cash (cashiers check).

- Recommend having your title co. rep do a prelim search on a property you intend to bid on, prior to purchase. 

- Usually a tax deed will wipe out any other liens, but may require add'l legal steps--consult an attorney on this.

The median home prices in Fort Worth are generally lower than most parts of N Dallas and Collin County (Frisco, Plano, McKinney). Some pockets still have some value add opportunity.

Hard money would be about 90% Loan to cost (or 27K down+-, plus closing). A local Fort Worth based community bank would be 75-80% Loan to cost (54K down +-)

Surround yourself with great people, continue to read and absorb all the info that BP has to offer! Roanoke TX is a great area to buy.

Locating properties in blue collar neighborhoods within great school districts is a good start. Good school districts will always help drive rental demand. I like Keller, Birdville and HEB School Districts in FW.

Joint venture is a possibility, especially if you haven't done business together before and want to test out your working relationship first, before crafting a partnership. You may want to reach out to any local title company you or your contractors have done business with--the title company's attorney should be able to draft an agreement for you on a per deal basis (outlines contributions/responsibilities/liquidity, etc).

Local community bank is your best source, they can work around title and appraisal seasoning requirements/overlays that many Fannie/Freddie lenders have. 

Would recommend having irrigation system installed, if it fits your budget, since most tenants will not water the foundation regularly. At minimum, install gutters.

Price range is feasible, but super competitive. Cash flow will depend on your financing/terms, but there are strong rents for the area, which could produce a solid rent yield.

@Dwayne Modisette    How many multifamily units are you talking about?  Unit Volume is a big factor in these costs, not to mention plan specs, finish out, land cost.  Labor/Material and land costs have risen substantially, even in the last 12 months.