All Forum Posts by: Casey S.

@Andrew Johnson @John Leavelle that's helpful. thanks!

@Andrew Johnson Yes, most Dallas market prices are always over appraisal from what I've seen. This one was closer than usual. I just looked up the latest tax appraisal on the county's website for this property. thanks for asking.

@Julie Haveman They are in leases, so I would have to schedule later as you say or finance as investment property. Thanks.

Hi, this will be my first deal and a house hack. I live in Dallas and am looking at a triplex in Cleburne which is about an hour south, near Ft. Worth. It was recently reduced to $165 and has been on the market a couple months. Rents are 550, 600, and 650 and all units are 1 bed/1 bath. Two are 800 sqft. and one is 1k sqft. Appraisal is 156k. It's had many updates but could still use some cosmetic improvements. Because all are occupied with leases, I may not be able to finance as homestead and move in. If not and I stay in Dallas, I would need property mgmt. due to the distance. 

Any suggestions on doing this as a first deal? Nice multi-families in Dallas are hard to come by right now, which is why I've expanded to more rural areas in my search such as Cleburne. Thanks for any feedback.

Desc: Completely renovated duplex and single apartment. Original refurbished hardwood floors, new pex plumbing throughout, new sewer lines, all new paint, new attic insulation, new PTAC AC Heat pump in each unit, new inline water heaters in each unit, converted to all electric, new individual electric and water meters. 

Hi, I'm a new investor, and a realtor wants to partner with me on my first flip. He will find the deal (60-80k SFH), cover the down payment (6-8K), and repair costs (20-30k), and I would take out the mortgage on the house (15yr or 30?) as the tenant and cover the monthly payments for 3-4 months before it's flipped at $130k+ for a profit of around 20k that we'd split.

He has experience flipping before but doesn't want to take on the mortgage since he already has a loan out for another house, plus he's the realtor selling the house. I would need contracts to document our arrangements in case anything falls through, but I wanted to see if anyone has experience executing a flip this way. 

Any feedback is appreciated! 

Thanks, 

Casey