All Forum Posts by: Johnny Garcia

@Charles Clark most county appraiser sites have a tax estimator tool you can use to generate an accurate estimate of what your taxes will be after closing based on the sale price. The county record for the specific property you're looking into will also show you any exemptions that are currently applied to the property you're researching. This will help you identify which exemptions, if any will be transferred or dropped off after the sale.

@Anayo Awuzie Dallas County appraiser site has a tax estimator tool you can use to generate a pretty accurate estimate of what your taxes will be after closing based on the sale price. The county record for the specific property you're looking into will also show you any exemptions that are currently applied to the property you're researching. This will help you identify which exemptions, if any will be transferred or dropped off after the sale. You'll be able to qualify for the homestead since you'll live there, so when you plug in the information into the tax estimator make sure to click the homestead exemption. 

This has been super helpful in generating accurate tax costs for myself, hopefully it helps you out too!

@Sergey A. Petrov I appreciate the input. Of the owners who own multiple units, they're recorded under entities with each entity owning 3-5, there isn't one majority owner. I haven't dug into the entity structure of ownership for each entity yet, but that is a solid point. 

Prior to my current role, I assembled small parcels for developers to acquire and entitle. A lot of our structuring required patience and creativity to convince owners we have their best interest in mind. I'm personally interested in the partnership route to keep my ownership stake.

I live in a condo association with a total of 70 units, a majority owned by investors who rent the units out with about 20% give or take being like myself that own and live here. The complex has a lot of deferred maintenance that our current HOA dues are not sufficient to handle the maintenance and owners have been adamant about not wanting to increase HOA due. At our last board meeting I brought up the option of selling to an equity fund that would buy out each owner and convert to a solely owned apartment complex and the question was well received.

I work in private equity space and have some potential buyers for this project, I'm looking for advise, counsel or an experienced investor to shed some knowledge in this process. If the desire is to be involved in this project, that's an option as well as it is very early on in this process.

If this is an area of expertise for someone on here, please reach out. I can message, hop on a call or meet in person to discuss. 

Thank you and I look forward to hearing the comments about this. 

 

@Justin Reed the company I work for has a few departments that actively source deals through scrubbing the mls, direct mailers and few other methods. I've been assigned the DFW area as essentially a boots on the ground role to locate off market properties that would other wise slip through the cracks. I currently meet with 2-4 owners a day through my company's methods of sourcing off market deals and I'm looking to spend my free time growing my network with active and hungry agents in this market. We currently own a couple hundred homes in that market and our buy net covers a large span of area which wouldn't be cost effective for me to double down with direct mailers when the cost would be coming from my own pocket and I'd be hitting the same homes we're currently mailing out to. I don't have access to the homes we direct mail to unless we've made contact with that owner and I've been scheduled to meet with them and walk the property in which case I just get that specific address.

I've been recently assigned to the DFW market to acquire single family homes for our rental department and I'm looking to grow my network. I typically work with agents and wholesalers. Please PM me or if you have any suggestions of agents that have impressed you with their work ethic and drive to find deals please tag them in this forum. I look forward to cultivating some great relationships in this market!

@Gabriel F. any advice?