All Forum Posts by: Dee Copeland

Residential in Austin:
Low End/Affordable is $65-75 per foot
Mid-grade is $75-85/ft
High end spec is $95-115/ft

We have a green building program. Cost for green is $2-3/per foot more, so it's worth it.

These don't include cost of land. Some builders don't include fees for plans, renderings, soil samples, landscaping, etc.

Sounds like a short-sale is on the way. It's a credit hit, but not as bad as a foreclosure.

I see that other person was banned for spamming. Maybe future questions can be more specific. If someone needs "information" about new construction in Texas, that can be anything. The more specific the question, the better answer you'll get.

REICA was just sold to another investor. Ken originally bought it from a Realtor, Bob Guest, so had to make money from it. They lost a following because it was a sales pitch every meeting. The new buyers had no idea what they were getting into and it appears the books were not correct, so they're trying to figure out how to make money without it being a pitch.

Austin RENC is where the better investors go.

I think there are ways to get to pre pre-foreclosure leads. You'd network with lawyers, CPAs, estate planners, property managers, judges and people who can refer you to people in trouble.

Tired landlords, bankruptcy, divorce, death...there are professionals who help these people every day, so be their go-to person for helping the clients sell their homes.

I'm researching prefab homes because we're brainstorming having some nice, custom modular homes. Some are being built and marketed as retro or modern. My investor was going to have an "IKEA" decor, especially in kitchens and baths.

Anyone doing this already or have an opinion? It seems like there is a market for this, but gauging interest.

These sites have some good questions. http://www.mortgagenewsdaily.com/11112004_Choosing_A_Real_Estate_Agent.asp

This is for listings, but they apply to buyers as well. http://www.homegain.com/info_center/seller/listing/eleven_questions/show_article

For investor questions, I'd ask how long they've been investing, what's their investment strategy, how many properties do they own, where do they get their financing, how do they find deals, can they provide references to other investors that they work with, etc.

I'd ask the questions to see what their connections are, experience is, and if they can think creatively.

I wouldn't create the LLC on my own. Most operating agreements will raise a flag with the IRS if you're using it to control the IRA. I forget what the clauses were, but they basically nullify everything. The companies who set up the Checkbook Control LLCs spent a lot of money with tax attorneys, so I'd just use their company. Most are backed by guarantees in case you are audited.

I only have 20k that I rolled over to this first IRA to see how it works. I'll loan money to investors to build up funds. The more income I make, the more I'll put into the IRA.

The only con that I can see in self-directed IRA is if you set it up without checkbook control. I was going to do a checkbook control LLC, but decided to just go the regular route.

You may want to talk with a tax specialist and/or your CPA to see what the house will cost/gain you when you try to sell. A real estate agent or appraiser can also give you an idea of the value of the home so you can calculate sales costs.

Depending on the capital gain, it may be worth it to wait.