All Forum Posts by: Gerald Hand

Long story short, lost a lawsuit and a judgement was rendered against me in Texas. Judgement was finalized in February, 2009. An abstract of judgement was recorded in my county in August 2010, nearly 18 months after judgement was recorded in Travis, County. 

Would like to sell my homestead property but a title company has told me I can’t because the AJ was recorded in 8/2010 and I must wait until 8/2020. Am confused because according to the Texas property code section 52.006 Except as provided in subsection(b) a judgement lien continues for 10 years following date of recording, ECEPT if judgement becomes dormant during that period, the lien ceases to exist.

It has already been 11 years since judgement was rendered, it has not been renewed. Can I move forward at this time or is the title company correct about waiting?

Annabel Dr, Flower Mound, TX 75028

ARV: $522,000

REHAB: $53,500

Cost: $375,000

earnest money: $7,500

Call Gerald 214 675 2853

Description: Huge 2 story with pool & hot tub walking distance to Marcus HS in N Flower Mound. Currently vacant, house needs basic cosmetics, updating and foundation repair. Roof, AC all good, convenient to shopping, 3 car garage, this is a divorced family and they've had 4 deals fall through. time is of the essence. ARV is conservative and inline with Comps at $122/sf. I believe it could fetch as much as $542,000 ($127/SF) but I am playing it conservatively. Local rents are approximately $.90/sf

Since Tim is a neighbor (I live just north of Southlake in Flower Mound, TX) and his area is much like my neighborhood, I listened to this podcast 3-4x and have really gone back to reconsider my investing objectives. To appreciate 20% is pretty not bad. Thanks for the great tips Tim. 

I came across this phenomenon a couple weeks ago when neighbors a few doors up from us disappeared one day and the next was a sign in their yard For Sale by Open Door. We live in the DFW area.

The concept is pretty interesting- they buy my house and then list it. When you are ready to look at it, you come up and contact the local rep and they let you in via remote to explore the house on your own and on your schedule. Pretty cool. Or so I thought.

My experience thus far having viewed 5 homes and noting price/sf on several others is it seems they are not understanding the nuances of each neighborhood (some more desirable b/c of age of home or school ratings) nor are the homes, in my opinion, move in ready. They often need a good cleaning and all certainly need paint. Despite these deficiencies they are listing the homes at top dollar value, in our case around $155/sf for a 2 level that has not been touched or updated in almost 20 years. 

Is anyone else seeing these pop up in their area? Are you experiencing the same? What is their business model? Surely the carrying costs have to be astronomical.

Thanks @Marc Tuckey- will look at a some venues this weekend when I am back in town. 

This is definitely a personal issue this family is facing, and while you may well empathize with her, you still need to have that professional distance. The good news is we are a nation of LAW and thus she should be able to get some relief from a 2nd year law student I would think. Husbands don't get to run off after 15 years of marriage thankfully. Decisions have consequences and he needs to feel it, but right now, lend whatever assistance you can to her from a residential standpoint- finding another property, perhaps helping with a moving truck, whatever. 

Above all else, you probably need to befriend someone on the city's council/zoning commission, have them champion this for you or at least let you understand how the city considers a tiny house to be different from a manufactured home. I would think an RV park might be more apropos given these are most likely going to be shorter termed stays with your perspective clients, but I think it is a neat idea.

I have faced the same dilemma for years with KELLY BLUE BOOK. OMG! I HATE KBB. It gives people such a skewed view of reality when it comes to trade in value of their car and the suggested retail price of a dealership's used car.  Nowhere on the site does it show a "Buy it Now" button so the numbers are exactly like Zillow- garbage in garbage out. Absolutely meaningless. I looked at my home value on Zillow and Redfin and there's about a 50% margin of error. Rather than blaming it on website which, in my opinion in our area of Texas seems to be on the high end, perhaps the poor performance should be blamed on presentation of the home?

Great to hear from you guys! Forgive me for not responding sooner but y'all know what having a job is like. @Marc 

@Marc Tuckey Definitely right now general meet and I was thinking figuring out WHAT people would like to discuss/learn about and develop a calendar of events, and determine frequency. 

@Max Brown We can start with someplace convenient for all. Highland village off 2499 or perhaps E Lewisville near 407.... 

What day(s) are best for you? I travel much so generally weekends for me of course, and frequently a Monday or Friday.

What say you all?

Thanks!

With several hundred BP members living in the Flower Mound,, Lewisville, Highland Village & Denton area, I was wondering if anyone would be interested in getting together for a meet-up in the near future and on a recurring basis.  If so, what topic(s) would you like us to cover or discuss?