All Forum Posts by: Anna Catron

Hola!  I'm in Nac also!  Mike is great about helping with advice!  Eric, did I just hear you ask David Greene a question on his podcast??  You said you were from East Texas and hitting roadblocks?

We should all get together.  I've been talking about it forever, but maybe it's time?

Also, a plug for J Scott's book, Estimating Rehab Costs (or something like that!)!

We're going to build a duplex on a lot that came with a duplex we purchased. Then we may add an ADU to a larger lot on one of our SFHs. Ft. Worth is booming!

We're still finding deals in the city limits with door knocking. 

That's great!! We're in the early stages of considering this as well. We're currently building a primary on a lot, and then will get to the ADU. i'm curious about where to start as well!

Really, I feel like in FW, you can't miss.  If you're in close to downtown, you win, if you're further out, you'll be in the path of progress.  What we've found is that closer in, more appreciation, quickly, but it's offset with high taxes. If you buy further out, fewer taxes, but the appreciation isn't as rapid.  

Excellent!  With the COVID regulations being eased up, we should have a gathering! I'd be willing to host if people would like to do a potluck!

@Andrew Postell Good to know. So, are they breaking the rules, or "interpreting" it differently, or what's the deal? Thanks!

I was just told by one of the mortgage lenders sponsored by BP, that in Texas, COVID has messed up refi rules. 

Per her, TEXAS 50(a)(6), says that investments can only be refi'd IF the house was a primary WITH a homestead at its inception.  It cannot have a homestead presently (obviously bc now it's a rental). She said ONLY portfolio lenders that KEEP the loan are able to refi rentals that don't fall in this category.  

Anyone heard this?  When I looked it up, it looked like it came into practice in December. 

Thanks!!

@Cary O., yes!  We did that for the first time this year. Many hours of work for a $600 savings, but it will be easier next time and we essentially save that $600 every year, so it does add up!