All Forum Posts by: Brandon Allen

I'm intrigued by the idea of doing multi-family (commercial) properties.  What do you guys look at first to try to screen multi-family properties?

Any deal breakers?

Any suggestions on resources?

Thanks @Thomas Franklin!

Would appreciate any referrals or contacts for an investor friendly realtor in Charleston SC. Thanks. 

So I was exploring a deal in Dallas.  

Sale price from wholesaler is $406,000 (he has it under contract at $395k)

Rehab breakdown (based on bids):  

- $6,100 on foundation

- $89,500 on cosmetics

And here's where the confusion comes in:

Wholesaler is advertising an ARV of $600k

My realtor is telling me we can get more like $625k based on his research.

A seasoned investor I'm looking at buying this thing with is saying we can't sell it for more than $500k due to the market.

As most of you know on here, Dallas is booming and this is a nice older neighborhood that has a lot of older people living there.  There was only 1 house sold in the last year and there are 3 available on the market right now (been on there 10-30 days).  Based on that, my potential partner is saying he thinks we'd have to price it low to be able to move it with 3 years of inventory on hand.

My personal opinion is that this neighborhood is full of older people that haven't moved and that the reason only one house sold over the last year was that there was only one put on the market.  I tend to agree with my realtor but I would love hearing others opinions on it.

Address is 10102 Royal Highlands, Dallas. (and FYI, the house is actually 3950 SF, not sure why MLS only has it at 1950).

Trying to purchase a property in Denton, but I need some help filling out the TREC form.  It's my first time doing this and will have an attorney review, but still need some general help going through it.  Any good resources out there?

Example of questions I have:

Sales Price (section 3):  I'm purchasing this house and will end up paying off multiple liens totaling about $16k, so do I include that in this section anywhere?  The rehab is obviously not part of the equation here.

Do you fill out the financing section (section 4) if you're using hard money?

Survey (section 6c):  Is this necessary?  I would assume that the buyer would do this (option 2) what period of time is usually allotted for this?

Section 7:  How long do you give for disclosure? Do I need one since I'm buying as is?

Which addendum are essential?

Thanks for any help.

Thanks for the input @John Chapman.  It being one of the larger houses in the neighborhood was definitely a concern.

8806 Rolling Rock Ln

Dallas, TX

http://www.zillow.com/homedetails/8806-Rolling-Roc...

2300 sf

3/2 

2 car carport + storage

Very clean property, needs a couple windows put in the front of the house and kitchen redone plus some paint.  Thinking about $55k in rehab.

Purchase $255k.

My look at the comps came in at $200/sf. Let's say ARV of $400 on the safe side. (Can someone double check this ARV for me? No MLS access)

Thoughts and suggestions?

@Guy Gimenez thanks for your input.  Appreciate it.

Thank you Tamara Elliott-Deering and Chris Soignier that makes sense.

Do you have to use the purchase agreement that can be found on the TX real estate website or can you use a simplified one page contract? Any help here would be greatly appreciated. We're just getting started in north Texas and need clarification on this point. Thanks!