All Forum Posts by: Adam Morrell

Hey all greater austin brain trust! Anyone recommend a couple good banks or credit unions that do high ltv helocs? Best I've found so far is 80%. Anyone know of ones that will go 90-95%? Thank you in advance! Adam

I would not even consider them if you have questions like this. There's a multitude of assumptions that we can make about those potential renters.  Just because the lady has good credit does not mean sure she will be a good renter. But the bottom line is your questions seem to be a strong enough indicator that you were concerned about it. Hard pass and move onto the next.

@Anagha D. On the tax issue, on my personal residence taxes have gone up nearly 10% the last couple of years due to appreciation and I have the homestead exemption to protect from going over 10%.  I could protest, but market value is likely higher than county appraisal.  As @Rica Greenwood mentioned without homestead on a rental, you will not be protected in any way from 10% increase or more. And I'm in agreement with her that this market is very competitive. If you buy a SFR here me thinks you will be playing appreciation only. The appreciation here has been good, so if you are comfortable with the possibility of neutral or negative cash flow, it might be ok. This market is super tough and you really need boots on the ground here to find and make deals. Not trying to discourage you, but I live here and don't even invest here currently because from my analysis, the numbers don't fit my goals.

What are your goals?  Are you using a mortgage or buying cash?  Are you wanting cash flow?  If so, bad time to buy here because the market is at an all time high.  plus property taxes here are quite high and will hurt your return.  You may be safe to play on some appreciation here but buying off market is about the only way these days to make numbers work.  

Thanks Jim! The farm is in west TN. It did at one point have some in CRP but no longer. They do currently rent the crop land to a family member who row crops, probably at a steep discount. I've suggested that they parcel it off into at least two parcels, one with the house, pond and outbuilding and one just acreage. As you suggested, the locals that were interested didn't want to buy it anywhere near the listed price. I figured I might help them market it to our if state buyers Thanks for the ideas! Asam

Hey gang, my parents have a farm with about 180 acres mixed woods and crop land, a 2 acre pond, house and large outbuilding. The property is probably with $650-750k based on comps (which are very hard to figure) They listed it with a local realtor for 6 months with no hits. I know these can be hard to sell, but has anyone had success selling rural farms like this? How did you do it? Thank you in advance!

hey gang I'm in Leander as well and looking in temple and belton areas. Would love to connect with you guys 

Texas, as much a free republic as it claims to be, has some really strange laws and codes just like every other jurisdiction. Thank you for looking into this as I was actually looking into this type of deal for my brother in law. Adam

Thanks for the reply Michael! I'd love to connect with you as a fellow real estate enthusiast here in cedar park! How is the best way to contact you?

Hey gang, I live in cedar park and have always wanted to begin investing as local as possible, however, Temple keeps catching my eye particularly due to lower price point and more potential opportunities for 1%+ deals. I don't know the area and would like to talk with a knowledgable agent there that works with investors. Any real estate agents that specialize in temple here on the board or any recommendations?