All Forum Posts by: Jeff Richardson

@Rick Zink I would suggest checking out the meetups listed on BP, and also go to meetup.com to check out the numerous other REI meetups in town.

Welcome @India H.!!! DFW is a great market. 

@Jessica Muto When we buy properties, they typically need a lot of work in order to get them for under market value. We use general contractors along with sub contractors to complete the work. Managing repairs from a distance isn't much different than managing them close to home, you won't be doing the repairs, so you will be using a contractor that comes highly recommended and that you have vetted, through references. Before you buy a property, you'll want a list of contractors that you can rely on for not only the rehab, but any issues that may come up. You can get references from BP members, FB groups, and other online sites. Realtor.com has an overlay when looking at listings that shows the amount of crime an area has, it is broken down by city blocks in many instances. You can also post on BP to get other investors opinions.

Patten Law firm is an excellent title company for investors.

@Bryan Bannach The 10% cap is only for owner-occupant properties, there isn't a cap on investment properties. The assessor looks at comparable sales to come up with the value of your property, they don't actually look at what's been done to it unless there is an addition. We use a tax protest company and they ask for HUD statements up to 3 years old, I don't know how they use this information, but it helps them lower our property taxes. I would highly suggest using a protest company, they typically get paid 40-50% of the taxes they save you.

@Brendan Flannery Is this going to be your primary residence or purely investment?

@Willie Marte I believe what you have here is just a difference in expectations. I'm guessing as the owner he used to mow the grass and take the tenants trash to the curb and now that you're the owner he thinks it's your duty. With a Multi-family, it would be unconventional for anyone other than the owner to be in charge of the landscaping, but many owners do provide a curb-side trash service as either an amenity or an additional charge. 

@Moe Soliman You should check out Lifestyles unlimited. We are members and they helped us purchase, rehab, and rent out our 4 properties in Houston without me every having to go there. The contractors that they have, know the investment model, so rehab is very hands off, and you get much higher returns than if you buy a property at retail. 

@Account Closed Check out Fast Track remodeling, they are highly recommended. 

@Tarquinn Curry We have closed all of our wholesale deals with Patten Law Firm, with no issues.