All Forum Posts by: Adam Wright

There has been a lot of push on these lease to own programs lately for Realtors to expand their business.   Here is an example of one that I signed up for to get information, but haven't done anything with it yet.  

https://www.homepartners.com/

Is it possible the investor is just using a program like this one?  

There are two areas in this zip code I believe are worth watching for investment, but neither give you much in terms of area.  The Trinity River Vision Project is going to be making anything along the Trinity an interesting investment option and there is some areas in this zip code towards the southern border in proximity to the river.   I would also check out anything close to the Fort Worth Stockyards.  I know West of the Stockyards(different zip) has seen some good investment.  It might see some additional areas spring up.    I also want to mention that there has also been a lot of new construction in this zip code. Developers buying up single lots and building.  Here is a map of the area of homes currently active and sold that were built after 2016.   Red is sold, green is still active.   I hope this helps.  

I have been intrigued the last couple of years on the Trinity River Vision Project Fort Worth has planned.   I know they have hit some snags of late, but they still plan to do quite a bit to make Fort Worth into a destination.  With this in mind, I would say anything along the trinity river would be something to consider, or outlying areas around downtown.   Here is a website for more information on the project:  https://trinityrivervision.org/.   Good luck!   

I started noticing something last month so I did a little digging. DFW is one of two metro areas that has almost all the IBuyer companies working the market. With this in mind, I did a quick check in the MLS on how many properties OpenDoor has sold over the last year. They sold around 700 properties between six months and 12 months ago. The last six months they have sold over 1300. My very unscientific conclusion is that these IBuyer companies are moving on the market share for DFW REI.

I spoke to my wife about it and she pointed out how easy it is to sell to these companies when you are needing to unload a property.   The ease of the process might be leading many sellers to go to them versus investors.  

I know that I have not seen much lately for my clients.  It seems to be the slowest it has been in awhile.  

It will come back around.  

@Lynn Cornell  I am not an attorney but here is my take on it as a seasoned Realtor....

I have had two other buyers ask me this question in the last six months. One buyer was out of state like yourself and didn't like the fact the seller failed to disclosure some repairs.    The other was local with the same compliant.  I told them same thing.  

I love the option period we get in Texas because it does give buyers an opportunity to check out the property before going through with the purchase.  In order to get this option period, however, you are required to pay consideration for it.  The option fee is paid to have a period of time to do due diligence on the property.   You are basically paying the seller a fee to take the house off the market so you can inspect it.   What happens if the seller isn't truthful, or makes a mistake about the information it conveys to buyers?   It doesn't matter when it comes to the consideration you are giving for the option period.  It is a separate item.  You paid the seller for the option period.   

I can definitely relate to the frustration you are feeling...but at least you found this out before you purchased the property.  

“It is very early to say at this point, but I estimate overall values for Tarrant county to be up 7-10 percent,” Law said via email. “While some individual property values may have substantially larger percentage increases, others may see lower increases.”

This was from an article posted in the Fort Worth Star Telegram.....

How many of you saw unreal increases?   I saw an increase of 10% from this time last year, just below what I consider to be the market value of my house (might even be a little higher than market value).    For those who don't know, the Texas Association of Realtors have made an effort this year to lobby the Texas Legislature for some property tax relief.   We feel strongly the consistent annually increases is making real estate unattractive in Texas.   It is time to put it to a stop.   

I know many of the investors out of state who approach me are shocked when they see the taxes.  Many of them end up bowing out of the market because the high taxes makes cash flow very difficult.   

Would love to hear from others who have had this same experience.   

Investment Info:

Single-family residence fix & flip investment.

This was another great flip in my flip worthy program where we give investors a break on their listing fees if they use us to purchase the property.

How did you add value to the deal?

I was the agent who helped this investor flip yet another property in our Flip Worthy program

Investment Info:

Single-family residence buy & hold investment.

I assisted this cash buyer with buying a buy and hold investment property. Goal was to rent it out for some cash flow, but appreciation was the main focus of the purchase.

How did you add value to the deal?

I worked with my client to identify some likely properties to view while he was in town. He was an out-state. We spent two and half days looking over 20 properties. We then made offers on five of them. I was grateful to help my client find this great investment property for his portfolio.

@Phil Dodd There is over 350 listings for that size lot in those counties in the MLS. Have you looked there?

Try Terry Ray at Legacy Texas Bank or Scotty Lovett at Integrity Mortgage.  Todd Reynolds at Trinity Oaks Mortgage is another good one.