All Forum Posts by: Greg P.

Dallas, TX has a vast amount of GIS data and I have tried multiple times to try to import into ESRI and play around with it without much luck.

It's especially helpful because it will do 2015-2016 appraisal values and you can create new columns to look at the % change between year over year values.  My thought was you could create a heat map using these data points on a GIS map to see where values are increasing.  I'd be happy to partner with someone on this if they are good with GIS data manipulation to use it as a use case.  Feel free to shoot me a PM.  Thanks!

Hello,

I was wondering if anyone had done any research into any mapping services that could help track where you have drove for dollars, or logged specific addresses with notes for additional research, homes you want to DM, etc.

Does anyone have any suggestions on where to start with something like this?

Thanks!

Hello,

Had a question I was hoping the BP community could help me with.  I have been driving for dollars in the Collin county area in Texas.  I found a property that was boarded up and a bit run down in a nicer (B+ community).  

Working with a real estate agent I found that the property had been rented in February of 2016, and purchased the year before.  I found the owner's name using tax records for the address -- but I can't seem to find a way to find an address or way to contact outside of sending something to the home that is boarded up / possibly being rented.

Am I missing some creative method for finding a way to contact this owner?  If someone is in the Dallas area I'd be happy to share more specifics privately.

@Bart H. Great callouts on the garage and sun porch, I hadn't thought about possible permit issues.  I won't be able to get in there until sometime next week so will dive into the things you called out.  I'm pretty willing to work on anything, but I was concerned about plumbing/electrical since the home was built in 1963 and know how expensive replacing all that plus any HVAC/roof issues.  

I'll have to get in there and get a few pair of eyes on it, thank you for all the feedback and thoughts!

@Kuba F. Thanks, Kuba!  It's about 1,300 so that's a helpful rule of thumb with the pain and floors.  Almost wondering if I could do it myself since I would be required to live there for a year anyways.  I'm most scared about the kitchen since it's really open and a lot of cabinets, so refinishing the entire thing would be expensive.

Hoping I can get in there soon and walk it with a GC.

@Michael Woodward Thanks, Michael - that's great feedback.  It's a good thought because I have a hard time balancing what I would want and what could get by to keep good rental rates.  

I'll be able to get in there in a week hopefully. But it definitely seems like the kitchen will need major work, but we'll see. I'm networking at a local REI so will try to get additional thoughts on it there.

Hey there,

I haven't found this anywhere -- and maybe this is answered in J. Scott's book (which I am planning on buying).  I am looking for general information on home builds by decade and possible issues that may arise from buying homes built in the 1950s, 1960s, 70s, etc.

Also, does anyone have a helpful link that talks about the lifespan on various parts of a home as a 'rule of thumb' such as HVAC, roof, sewer, etc? Trying to ensure I am taking everything into account when I look at older homes for CapEx.

Thanks!

Hi BP,

I am interested in a home that will list soon on the HUD. Since this is my first deal, I am thinking about living in the home as an owner occupant for a year while rehabbing the home. My goal is to finish the property and keep it as a buy and hold / rental.

My question is on estimating 'rough' rehab numbers on this property to see if this would even be worth doing. Similar homes in this area (after repairs) have sold in the past year for ~105k. That's where I'd estimate my ARV.

The tax appraisal for the property was 78k, and I'd plan to offer 65k, given that it is an older home (1963) and from the pictures would need almost everything inside redone. Rental comps have three bedroom homes in this area renting for 1,200, so the cash flow for the cost of the house is what gets me most excited (although feel like there is appreciation opportunities after fixing it up).

So, I'll just post the photo album here -

http://imgur.com/a/RMx8z

I'd love your thoughts as experts on if you feel like this would even be in the ballpark with the photos. To me the kitchen, floors, walls, outside paneling would all need to be redone. Coming up with a repair value is where I'm most concerned. Hoping I can do an actual walkthrough in a week. Look forward to hearing from you, thanks!

 Thanks, Jason!

 Thanks for the well wishes, Gino!  I'm excited to take action.