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All Forum Posts by: Greg Mesa

Greg Mesa has started 4 posts and replied 15 times.

Thank you so much everybody for your input! I definitely want to be prepared for the day a seller wants to go down the road of FSBO. I'll be sure to speak to my attorney and maybe the title company I've done business with on my last couple of deals.

Thank you everybody.    -Greg

I'm an investor of single family homes and usually use an agent to submit offers/contracts. I want to prepare for the day I deal with a property that is for sale by owner and only wants to sell directly to a buyer. Below is a link to the contract/offer we usually submit, but if I'm going to do the deal myself, do I legally need need a broker? If not, do I just omit the broker information on the contract?   

I have a TX attorney that has done some deed work for me, and I plan to get his opinion, but I just would like you hear about any experience you've had. Thank you!

https://www.trec.texas.gov/for...

I have separate checking accounts for each property in my series LLC; I use Citibank. They were only bank I could find that would open multiple checking accounts under one EIN. I'm just not sure how easy you can find one in TX. My properties are in TX, but I live in NV. I also use the Costco/Citibank VISA cash back card to pay for expenses.

I read on JP Morgan Chase's site that they could do the same, but I just haven't spoken to them yet to confirm. Good luck!

Post: Contesting Property Tax

Greg MesaPosted
  • Posts 15
  • Votes 5
Originally posted by @Ethan G.:

I have used Bettencourt, O'Connors and a local CPA who is a real estate investor, all on contingency (but Bettencourt charges an administrative fee up front).  Bettencourt has gotten me the best results so far.

Thank you for recommending these firms Ethan.

I'll be doing more homework to see if going with a firm might be a better route than doing it myself each year.

I appreciate you taking the time to share your resources.   -Greg

Post: Contesting Property Tax

Greg MesaPosted
  • Posts 15
  • Votes 5
Originally posted by @Lucia Rushton:

@Greg Mesa. Plus this year with Covid it was all online. If they accepted your new figure, case closed. If they didn’t then it was a phone call interview and you provide your back up documents in advance. Only a suggestion, but if given the choice as to who goes first - you or the county, I suggest they go first; they may give you valuable information plus indicate what they think your property is valued at. Good luck for next year.

Great tips and insight Lucia, thank you so much!

Being an out of state investor I'll have to see if contesting over the phone will be a regular option; even after COVID. I'll be sure to put your suggestions into practice.   -Greg

Post: Contesting Property Tax

Greg MesaPosted
  • Posts 15
  • Votes 5
Originally posted by @Greg H.:

I have done it successfully more than 100x times in Texas and many times in Bell county.  Keep in mind, you will not be able to protest until next year as the deadline is May 15th an/or 30 days after notices are sent

Collect information to defend the value of the property.  My best advice is to meet informally with the appraiser and accept any deal reach as the formal hearing has a much smaller success rate

This is great stuff Greg, thank you!

I will be sure to set calendar alerts for next April-May.  When calling the people at Bell County, they have always been very friendly and helpful. I live out of state, but I try my best to reason with them over the phone. I'll be sure to do my homework, but if you can think of any other types of evidence that I can gather to make my case, I would appreciate it.     -Greg 

Post: Contesting Property Tax

Greg MesaPosted
  • Posts 15
  • Votes 5
Originally posted by @Stacey R.:

Hello!

I have successfully contested property taxes multiple times in Dallas County. I don't see why it would be any different in any other county. This is something you can 100% do yourself as the process is actually quite informal. Based on who you are assigned and what kind of day they are having goes along way toward determining how much your taxes are reduced. The most powerful evidence is to bring a recent purchase document showing how you paid less for the property than what is on the tax roles. For properties you've owned a while, take pictures showing all the horrible parts of the property. Good Luck!

Thanks so much for the quick reply Stacey,

I will try my best to take those pics, unfortunately we just did a big interior reno. If you think of any compelling evidence that might help with properties already owned for several years - I'm all ears! 

Thank you again Stacey. I will take action on your advice!   -Greg

Post: Contesting Property Tax

Greg MesaPosted
  • Posts 15
  • Votes 5

Hi everybody,

Has anyone had any luck contesting property taxes in TX, more specifically single family homes in Bell County? If so, do you use the help of an attorney, or what other advice can you share?

Thanks.  -Greg

Hello everybody,

I'm looking for, and hoping someone would share, the name of an agent they have worked with to purchase SFR. I'm new to investing in rentals and currently live out of state, so I'll take all the advice and education you can offer about BRRR in TX.

I live in Las Vegas/Henderson (unfortunately no investment properties) and if anyone has any questions about the area, I'm happy to share what I know. 

Thank you.  -Greg

Post: Getting started in TX

Greg MesaPosted
  • Posts 15
  • Votes 5
Originally posted by @Andy Comer:

Killeen/HarkerHeights/Copperas Cove have a lot of military folks based at Fort Hood...which means lots of turnover. 

I livee in Georgetown and SFR work well if you can buy right. Sun City is a retirement area of Georgetown with nearly 20,000 residents. If you are over 55 you can buy there and tenants seem to stay for long periods of time...plus, retirees don't usually trash the place. I have a great, knowledgeable realtor in the area who's helped me with several SFR. She's an expert in Sun City.

 Hey Andy,

What are few things you like best about living in Georgetown?

The wife and I are seriously looking to relocate the GT, Roundrock, or Pflugerville area. 

Sent you a private message for realtor's contact info.