All Forum Posts by: Brian Adams

I'm afraid I am not familiar with real start - never heard of them.  There are a LOT of property managers in the Killeen area because there are so many rentals.  Also looks like they're headquartered in Temple, an area I don't know as well.

What do you mean it is in your control?  You have a contract with the bank?

Are you talking about a custom built multi-family?  Or a spec duplex builder who has the amenities you're asking about?

And it would probably be a duplex - No builders are building 3 or 4 unit buildings in our area at the moment, to my knowledge.

I know very little about HELOCs and cash out refinances. But I do know Loan to Value isn't "Loan to Equity". If your home is worth $275,000, a 90% LTV would be $247,500. If you owe $250,000, then you won't be getting any HELOCs/refinances.

If you owed $200,000, then perhaps up to $47,500, for example, you could.

I appreciate the referral, @Brian Cowan, though Killeen/HH/CC are my specialties. I must admit I don't know the Temple area well and refer out most of my leads there, myself.

I'm not sure the advantages/disadvantages of using cash versus financing are going to be any different here that most areas.  DOM is longer because it is a different market than most of Texas, however a competitively priced and well marketed flip need not linger on the market.

Definitely the transaction costs fall heavily on the seller in our area, so that is a disadvantage for flippers - but all the other competition in our market is going to have to price in those same costs when picking up properties. 

I'm not advocating Ft. Hood area for flipping over other areas of Texas, btw. But I think our area has some potential, especially for those getting started who can't compete with the more powerful investors in hot markets.  I know a few bigger time investors who are starting to turn their attention to our area's residential sales, and am watching them intently to see how that goes.  There's a guy at the auction who flies in from CA every month just to bid on Bell County properties.  So, there's something here!

Yep - Willowbend Estates is definitely a part of town where you can pick up a good rental.

Here is a link to the median DOM by ZIP code for the Fort Hood area:

http://www.hoodhomesblog.com/market-stats/

Just saw the $125 update. Now things are making more sense!  Starting to sound like something...

$225k is indeed high for a 3/2 (they are abundant and affordable down here). Also in the newer developments, the builder competition is going to be fierce, driving the price down. Also, the rent/price doesn't quite match - $1150 sounds achievable for a newer 3/2 south of Stan Schlueter, but I would expect an ARV closer to $150k, not $225k, speaking EXTREMELY broadly, of course, as there are a lot of subdivisions S of Stan Schlueter.

Needless to say, PM me the address and I can do a CMA! @Mark Allen