All Forum Posts by: Carl Dieckmann

James, great points. My initial thoughts were an entire conversion to RVs with a direct bill. After a short conversation with the city dir of dev services, we think this can be done. My concerns about filling spots with RVs we own would be long term maintenance. I very much appreciate your inputs!

0 Votes

Adefemi, this can be done in Austin despite rising prices. Despite all the competition, I continue to find the occasional deal. I recently bought a fourplex out in Dime Box (a bit further out than you are looking) for $125k, which needs 50k in work. Bottom line, it grosses 2k a month so I'm happy, and when the work is done, it will be a sold hold. Let me know if you are interred in the north west side which is where I specialize. I run both a real estate team and an investing team. Life is good, but busy. Cheers

1 Vote

Austin, Texas

Hey guys, I'm currently in contact on a MH park in TX (I prefer not to disclose exactly where)... The park has quite a few vacancies, and I would like to fill some of the spots with RVs. Is there anyone who has done this before and wouldn't mind providing some advice? I'm guessing I can press forward unless the municipality it is in specifically says I can't?

0 Votes

Originally posted by @Bruce Lynn:

Get a buyer's agent.....it is different than using an attorney. You may want to hire an attorney too if you can find one that will look at your contract quickly and give you advice. Sometimes this is tough to find though.

The commission is set with the seller and the agent when they take the listing. If the buyer is unrepresented, then the agent gets to keep all the commission and not split some part of it with the buyer's agent. So you could perhaps make your offer 3% lower or whatever % they are offering buyers agents, but the agent is still going to get the full commission from the seller. Most agents won't reduce it, because they now know there is more work involved and a lot more risk working with an unrepresented buyer.

Lawyers are great with contracts, but they don't always know prices, the market, and typically won't go out with you to point out pros/cons of the property and also don't often negotiate contracts for you, or if they do, they may want to charge more.

I can tell you from the handful of experiences I have been involved with where I represented the seller and the buyer thought it was a good idea to represent themselves...it was not good for the buyer. They may have thought so, but they didn't save any money, and in fact not having representation probably costs them a lot. It's not an intelligence thing, it's just an experience thing. I could for example ask most buyers on the normal contract 100 different questions that are important and vital to the sale that they would have no idea about....I mean not the 1st clue. That may or may not be you...but you don't know what you don't know. Get someone on your team that does know. Real estate is a team sport. Rare do you win going at it alone.

Bruce, I think you have a lot of wisdom. Good stuff!

1 Vote

Are we seriously having a crypto debate on a real estate investing forum? Yes, some cryptos have done AMAZING... not far off from any speculative new investment... some people scoffed Facebook when it was first launched. Look, I'm not saying some amazing crypto returns can be made, and I'm not going to compare my real estate investments to some crypto returns. However, ten years from now when most cryptos have stabilized, I still plan on beating the market with real estate. For example, I just closed on a condo I bought for $104k cash. It needs $500 dollars in repairs and my wife and I are going to re-list for $190k. A unit just like mine went pending yesterday which was listed at $185k. Soooo yeah crypto, bring it on!

4 Votes

Hey guys, looking for whatever advice you can provide. I'm in Travis County, NW of Austin. I have a flip I'm about to close on with amazing views and good numbers once renovated. The house has an appraised sq footage of around 3000, but is only 1700 on the tax records. The old owner expanded without permits. I'm planning on pulling them - any advice on how to stay good with the county since it is kind of after-the-fact. Thanks!

0 Votes

Austin, Texas

Hi folks, I am currently attempting to move to contract on a flip in the Austin area. While I don't normally flip this one is too good to pass up. 400k, minor repairs, ARV of 700k. I may be looking for a hard money lender on this one and would like to work with someone who is based in Austin TX - I am an active investor and would like to develop a relationship. Let me know if you are interested.

3 Votes

Austin, Texas

Hi guys, I know this is an old thread, but I'm having an issue with finding a bank suitable for my series LLC. (I'm in Austin TX similar to Andrew). Bank of America told me no... any luck with other branches?

0 Votes

Outstanding replies. Thank you very much for the info!

0 Votes

All Forum Posts by: Carl Dieckmann

Carl Dieckmann has started 30 posts and replied 53 times.

Post: Mobile Home Park - Can I put an RV on the pads?

Post: Mobile Home Park - Can I put an RV on the pads?

Post: House hacking in Austin

Post: Mobile Home Park - Can I put an RV on the pads?

Post: Buying land without an agent

Post: Crypto has better growth and passive income over real estate?

Post: Pulling Permits after the fact

Post: Hard Money in the Austin area

Post: Texas Series LLC - Bank Account Recommendation?

Post: Tax sale redemption - has this happened to anyone?