All Forum Posts by: Adam Roberts

@Noah Zielinski I don't think you can go wrong either place, although I'm not extremely verse in Atlanta real estate, just from what I've absorbed here at BP. I agree with @Thomas Williamson about the growth factor in DFW and Texas in general. Every time I open the newspaper I'm reading about a new company moving significant operations into the metroplex area... You can feel the growth energy for sure.

Don't hesitate to reach out if you need help before or when you visit the area. There are a bunch of us from DFW here on BP that would love to assist in any way we can.

Adam R

thanks for quick reply @Jon Holdman , I will put that language in the agreement.

Welcome to the team @Dustin Oaks ! There are a ton of great people on the site. There is a prior podcast (#39 I think?) that focuses on land investing.

Good luck!

Welcome to Biggerpockets @Bora Candiler .

So I take it the price tag on the property is $500k... Usually in most conventional bank transactions, the bank will not allow the $250k to be "gifted" to you as it will be above the "gift" limit (in the case where only you will be the borrower). However, if you and partner are both on contract and are co-borrowers, then they are likely to take into account both of your financial credentials (cash and income) for the mortgage. I bought a multi-family in this fashion - partner brought cash, I brought income history...we are both on contract, mortgage, and deed.

@John Chapman I agree, I think the ease of the process is also well-known by some tenants which helps motivate them to stay on-time to payments, etc.

I also learned something interesting the other day that is somewhat related... Landlord in Texas doesn't have to come out to the property to fix nit-pick stuff unless tenant is on-time to rent payments. I think this is great!... considering some of the maintenance requests I get from time to time. Obviously I want to know about significant maintenance issues, but for those light bulb concerns....

Team -

I'm in the midst of getting a SFR under contract in Keller, TX area and seller has finally agreed to my price in exchange for me paying all of their (seller) closing costs. Basically they named the price that they want to walk away from closing with and expectation is I cover the net difference.

My question is this: while I am pretty certain that the closing costs will comprise of the typical costs (attorneys fees, title fees, etc), should I be protecting myself from any unknown closing costs that may be a surprise when I get to the table, by way of language in our written contract? I have never been surprised by this, but it seems like something that could be an "unknown" when I agree to pay their closing costs "in general".

Thanks

Adam R

welcome to BP @Marc Roberson , my girlfriend/business partner works at KW in Southlake. She loves it.

Welcome to the team @Brian Lenz !

Adam R

Welcome to the team @Josh Fernandez . Look forward to meeting in person.

Adam R.