All Forum Posts by: Dean Weltman

@Marco Santarelli

What was done to this property, if anything, to get it ready for an investor? 

Is there a tenant in there right now?

Do you provide any warranties on your work and on major systems/appliances - or anything of that sort?

You must have meant ARV $150k...

@Adam Halford

Couple of questions:

1. What's a 1/4 bath (0.25)? Seriously, I have no idea, but I have a couple of funny thoughts coming to mind... Hole in the floor?

2. How are you estimating your ARV of $250k? Using the supplied square footage and your estimate of average sell price for updated homes ($128/sqft), I come up with $153,216...

Thanks,

Dean

@Marco Santarelli

Are you selling this as a turnkey rental? Has it been remodeled? Does your company or an affiliate stay on as the property management company?

I went to UNT. My wife went to UTD. Which school is best for you depends on your major. Which town is best for you depends on you.

Which place is best to get into college rentals, that's different. You can get more house for your money in Denton, and there's a bunch of older homes that are ripe for repurposing. The residential area around UTD in Richardson is nicer and pricey. It's been picked over by investors pretty well over the years. There's always a deal everywhere, but how hard do you want to look? There are affordable apartments nearby, just inside Dallas, but that's not an investment opportunity there - and I wouldn't want to live there (too ethnic for me - save the dumb comments for someone else, and too dangerous; a fair number of robberies have happened there). Denton doesn't have large, cheap apartments within walking distance to the school (that I know of), although there has been some small new developments in the past few years. Gotta go finish changing out a kitchen sink. Good luck, and feel free to PM me if you have any other questions.

Yes. Actually, what they want you to sign is an NDA, if I remember correctly. Whatever it was, I went by there over a year ago and signed it - it wasn't anything alarming.

I almost bought 2 properties from them but they sold them out from under me, twice!

Then they grabbed a property a block away from the last one and told me they had it in the works for awhile, and they rushed it out the door, just for me! A quick look at the MLS showed they were full of it, as their offer hadn't even been accepted yet... Anyways.

But they do have a constant stream of properties to look through. Good and bad like anything else. 

Zombie Post!

Anyone ever use this City Bank Texas for a loan? How did it turn out? I noticed @Waylon Themer stopped replying...

You got a lot of great information on this topic. I'll just add, if you're worried about being retired sooner than most, a 457 plan allows you to take out disbursements at an earlier age than a 401k. If you get employer matching contributions it's a no brainer - you should be contributing the max they'll match. Also, if your retirement horizon is far down the road, a 401k type plan is a great pre-tax way to invest outside of real estate. At my mediocre earning level my 401k contributions wouldn't buy any real estate, but over time I can take out a low interest loan from my account, up to $50k - now we're talking!

 My information is 20 years old... I do recall, though, several friends lamenting their investment properties being foreclosed on when many on the base deployed to Desert Storm. However, I guess I never heard those types of complaints during the past ten years of unpleasantries. 

You never know what a certain President or Congress will mean for Army strength. If you invest in Ft Hood I recommend you vote Republican. Lol

Killeen is Ft Hood, and at its mercy. I haven't lived there in years, but as far as I know it hasn't changed much. You don't want to rely on one large employer like that, especially one that is so closely tied to political whim...