All Forum Posts by: Jarrod Weaver

I'm with @Kris Wong and @Edward Liu. Sell the asset and use the proceeds to buy a new residence in the desired district. Reallocate the surplus into an investment property that actually cash-flows.

Keep in mind that the county's value is an assessment, not an appraisal. Their comps are notoriously bad and they use two variables in their algorithym to determine value the agents (at the Williamson County office anyway) can't explain. The deeper you dig into this, the more frustrated you'll become.

MLS access is the best option. Make friends with a local agent/broker to get good data and don't forget to take care of them for doing so.

House hacking in ATX anywhere near UT won't  generate positive cash flow or appreciation, I'd argue. Great area but prices are so high they don't have an room for appreciation in the current cycle (or two). If you want to live there, rent something affordable, get to know the area and invest in the suburbs where you can actually make money.

You're burning too much bandwidth on this. If you look at a deal and it doesn't fit your investment criteria, don't adjust your criteria trying to make it work. Dump it and move on to the next opportunity. By the way, I'd argue that your purchase price is more than double what it needs to be to make money in this market. Carry costs are far too high on a property this expensive. Any vacancy whatsoever will eat your profits with interest and taxes. Plus, it's already upside down!

I've managed a portfolio of executive homes in Teravista for 6+ years and have been unable to maintain the initial ROI as assessments have risen at a rate that rents won't keep up with. There have been so many luxury apartments built within a 3 mile radius it has diluted the market. Just a normal cycle I suppose. Time to sell and reallocate the investment.

It's bad business if it's the agent's doing. Don't be completely shocked if the strategy is coming from the owner. I've seen it happen before and it is terrible for the listing agent when he/she is being manipulated by the genius seller.

Keep an eye on tomorrow, but work for today. When a crash happens there is nothing any of us can do about it. The best thing you can do is not be overleveraged. 

+1 For what @Bill Crider shared. I too am a Georgetown resident and know the quality of what the Novak Brothers have built here. I'm not certain who you spoke with that sounded so flaky, but you can rest assured that their business wasn't built on a scam.

If you google Jeff Novak, I'm sure you can find his contact information. Call him directly and tell him about your experience with the sales call and concern with the pitch. I'm certain he will want to hear about it and will explain to you, himself, what is going on with the project.

That's how we do in in Georgetown. Don't get upset - just go to the source. (He is a very nice guy, by the way.)

The restrictive policies adopted by the City of Austin are already moving capital to other markets. The growth in Williamson County (Georgetown/Cedar Park/Leander/Round Rock) is in no small part created by the socialists in control of ATX. It's a win-win of sorts. They get what they want and the more reasonable governments in WILCO get all the growth they can handle.

Not sure why the EPA would be involved with a small septic system. If Ohio is anything like Florida or Texas septic is handled at the county level. Call the county health department's septic inspector - this is the person who is the key to getting the approvals and inspections needed. If you exhibit that you want to be compliant and are interested in the regulations he/she will provide a ton of valuable information and will likely end up being a great person to be cordial with.