All Forum Posts by: Robert Steele

Howdy neighbor!

This post is slightly tongue in cheek but I thought it might be a novel idea.

A lot of what I read about getting into RE investing says that your partner/spouse/gf should be on board and as passionate about RE as you are.

So I had a thought. Wouldn't it be cool if BP had a singles sections :)

For those people looking for love but also looking to make it in RE. I imagine putting something like "must be passionate about RE investing" in the regular web dating sites would not get you much interest.

Bing! Bing! Bing! Bing! We have a winner!

Anne S. she could be selling you this cash-cow for the same reason I have been thinking of getting rid of one of my cash-cows. It was a cheaper SFH that I cut my teeth on and now I am no longer interested in that area or demographic.

We all remember when we were newbies so in some respect she may be just trying to give you a good start. Like Grandma used to say "it's nice to be nice".

Are you sure about this? It was my understanding that unless the HOA had put a lien on the property before you took title then they were out of luck.

I bought a regular REOin 2010, not Sheriffs sale, and the HOA said I owed ~$2K from the previous owners delinquent account. I told them to go jump. It took about a year (non-professional HOA) but they finally zeroed my account balance.

2013 is expected to be even hotter. The 5.6% appreciation we saw over 2012 was the largest increase since 1999.

Here are the Dallas stats:

A few of the highlights from the NTREIS numbers for December 2012 vs. December 2011 include:

- The average list price rose 4.7% to $226,801. That’s in addition to an 8.2% increase in 2011.

- Days on Market were down 20.9% to 85 days on average.

- Percent of original list price received was up 1.7% to 93.1% of asking price.

- Months’ supply of inventory was down 34.3% to 3.9 months.

- The number of homes for sale was down 23.5% to 26,890.

- New listings were down 2.7% from December 2011, to 5,765 homes.

- Finally, pending sales were up 8.1% to 4,652 homes.

You must be looking at class C sub-100K properties then. Most of my rentals are class A or B rentals that have cap rates between around 7 and 8%.

All my rentals are in those cities, minus Allen which I got out of a few years ago for no particular reason. My favorite right now is McKinney - newer houses means less maintenance. Stay west of I75 here too. Actually this pretty much applies to all of North Dallas. I would also recommend staying north of Eldorado drive as there is a lot of competition right below there and I get the feeling those neighborhoods are going be kind of junky in the future (no offense).

My least favorite is Richardson (damn draconian rental registration program).

Not if the IRS considers you a Real Estate Professional - then the sky is the limit! :D

Hahaha. Love it.