All Forum Posts by: Tyler H.

This is a blue collar neighborhood, close to Miller Brewing and Alcon (jobs), so rentals will be in demand. Your analysis isn't bad, but the property taxes seem low ---on the tax roles this only shows as a 924 sq ft home? You may check or verify that.

118K is on the high end, price wise, for this area, IMO. Has it been rehabbed?

Check out the NTREIS Go App, also allows for collaboration with your real estate agent.

Welcome to BP!

Definitely consult with a local mortgage banker as to the best way to take title to the property based on your exit strategy (buy/hold or flip).  Not all mortgage bankers offer the same products, so I would clarify your intent prior to purchasing the property. Either way you go, you will most likely need a personal guarantee.

Of course speak with an attorney and a CPA as well for legal/tax ramifications. 

I use Lowes Commercial AR Card for 5% off, so if you are military, that is an extra 10%,

Which adds up quick on big purchases. Black Friday is the best time to buy appliances and stock up for an upcoming project. Costco is my go to card for gas. 

Also, Amazon has good deals for cabinet and door hardware. I've heard good things about build.com as well and Craigslist is good source for good used tools.

Sounds like you are on the right track though.

If it has central HVAC, you may need to have the ducts cleaned as well.

The key issue is not to simply take the seller at their word. While it may be a non issue, I would get a termite company that can offer a warranty with a WDI letter saying there is no active infestation.  Or, you could ask the seller to spot treat the seller as a concession, to ensure.

Prices have risen for multifamily properties in FW area in the recent months and there is a strong demand for quality rentals. While they are probably not prone to long term appreciation like SFR, they can be good cash cows if purchased in the right areas.

I would suggest looking at duplexes to start (this also entails that you have 2 of everything to consider:  HVAC, water heaters, appliances, etc).

Financing is usually simpler for a SFR, in general, which is something to consider.

Are your looking to buy/hold or flip? 5K would definitely not be enough profit to risk for a flip. Either way, I agree with Steven and would highly encourage you to wait for the best possible deal. Are these MLS Listings you are viewing?

+1 for tile, I think it is better in the long run. Demo and retiling a shower surround can be done $800 or less in TX, on average, so not sure what labor runs in your area. Of course this will vary, depending on your selection of tile, shower trim, if you pull/replace pan, etc.