All Forum Posts by: Victor Williams Jr.

I'm planning on purchasing investment properties to rent out with 3 other like-minded

Investors. How do we need to structure ourselves so that we can qualify for loans? Is there anyway that we can apply for loans without a business history? Any advice would be helpful! Thanks

Anybody in the Dallas-Ft Worth area have a reputable contractor that's AFFORDABLE? I'm looking for someone who could remodel my shower, as there is a leak in the floor pan/ drain area. I've got some quotes from some local companies, but the prices have been waaaay to high. I'm not looking for anything glamorous, just a nice, quality, repair/tile replacement, that would allow for good future sales value. Any help would be appreciated.

@Priyanka K.and @Andy Webb thanks for your responses!  I think I'll go ahead and roll the dice and see what happens.  I'll definitely make sure to cancel the service Priyanka!  Thanks again!

@Greg H. thanks for the info. Is this a tedious process to take on myself?  They're saying that they've run an analysis and that I should be due a refund of about $2k.  From your experience, do you think they could be on to something worth checking into?

Good Morning BiggerPockets family!

Quick question:

I own a property in the Valley Ranch area of Irving, Texas.  At least once a year I get a letter in the mail about considering protesting the property tax amount that's being paid.  Is this just a scam where this organization gets money for "taking my case" or have any of you ever been successful in substantially reducing property taxes by petitioning the state assessor?

Thanks in advance for your input!

@Drew Brown thanks for your input Drew.  To be frank, the property is in "the hood".  It's a decent neighborhood, good zip code, next door to a nice church, but it's still your average Detroit, West Side neighborhood.  I don't think it could be an executive rental.  Definitely a great idea though.  That's definitely something I will keep in mind for future investment properties in Detroit.  

My best bet may be to bump up the rent and ride the wave for a little longer.  A realtor friend of mine ran the comps this morning, and the price comparable properties have been selling for are not as far off as I would have expected.  Sitting on it for a few more years and chipping away at the mortgage may be my best option at this time.  

@Eric Veronica and @Jamiel Strickland thanks for taking the time to respond.  Your input is appreciated.  Eric I will check those websites out that you sent.  Jamiel I was able to negotiate a lower interst rate(2%) with my mortgage company back in 2012, so I doubt there's any more favorability on the interest rate.  I'm making a profit on the rental, not much, but I just worry that one significant event at the property could really take a toll on my personal finances.  Just trying to get ahead of it and start thinking through the best way to get from underneath it.    

Hello Bigger Pockets,

I recently moved from Michigan and have been renting out my property on Pembroke, near Wyoming/Outer Drive area.  As I am now out of state, I'm looking to craft the best exit strategy.  I bought the property in 2006, so as you well know, I am underwater.  I don't believe the property would sell for enough to cover the mortgage, so I am looking for advice as to the best way to eventually phase out of the property.  I'm getting decent rent right now, but not enough profit to hire property management, and I just don't like being a long distance landlord.  The current tenant is not in position to lease to own, or buy the property.  Any advice or suggestions??

Thanks for the feedback guys.  I'll check out Yellow Letters!

What's a good marketing piece look like?   Any examples that can be passed on to me?