All Forum Posts by: Bill Tyler

It looks like you have enough copper to pay off the mortgage! lol

It looks like a very complicated system to maintain should anything ever go wrong.  Is this a property you will be renting or flipping?  If you are going to rent it out - how many midnight phone calls will you expect from complications in the system?  If flipping - would this appeal to most of your potential buyers?  County water uses the water heater and the well water uses a boiler?  It also appears there is a water softener?  As cheap as it is to run, I would probably simplify things.  Use the County water for the dwelling and maybe the well water for the grounds.  If you have hard water, keep the water softener.  I would use a high efficiency water heater unless the boiler is a good selling point.  

Many areas of Arlington are like much of the DFW area where many properties are getting multiple offers above listing. Kennedale and Mansfield are moving pretty quickly as well. Fort Worth seems a little more sporadic with the hottest area being Westover Hills area (but that $160k budget will easily need to be doubled). I recently tried to pick up a pre-foreclosure near I-30 and Eastchase and found the homeowner was about $40k underwater based on sales in the subdivision (she owned roughly $124k and a larger house about 4 doors down sold for $88k). 

I think most rents are easily getting 1% of purchase price even in the less desirable areas.  

Oops, I missed that. 

It will depend on areas within the cities. Right now Coppell, Southlake and Grapevine are extremely hot. Don't overlook Plano, Frisco, and McKinney also since they will offer easy commutes to where many corporations are moving.

I have seen their Zestimates to be very inflated in most cases. Have you tried Homesnap.com? Here in Dallas/Fort Worth they are much more realistic (although all of the people moving here from California are driving the prices very high).  Use any of those type sites as a reference tool only. 

I have invested in Detroit and am currently looking at more properties. As you know, investing there is not like many other places. Property is cheap, but typically requires extensive renovation. Windows, roofs, plumbing, and electrical replacement are a given for most properties which easily becomes tens of thousands of dollars. Pick the right areas, have a good team lined up. Do the renovations correctly and you will be able to build a successful business. Watch out for back taxes and water bills as well as the tons of scammers. Good luck. 

Would it be a violation of Federal Housing Regulations to make a multifamily property a military only property (active duty, retired, and veterans only)? If so, what would be the difference in doing that vs. a college students only complex? 

Dallas/Ft. Worth is in a housing shortage with so many major companies moving here. Prices are WAY up and inventory is way down. Sellers are getting multiple offers and usually are getting buyers into bidding wars. 

I'm not sure if it applies in your situations, but it could be marking utility lines.   

This one won't allow them access, but maybe you can use in in conjunction with a lockbox? Once you have a potential renters ring the bell and you have them on video, you can give them the lockbox code, then stop be later and change the code. www.ring.com