All Forum Posts by: Account Closed

@Salvatore Lentini at what point does the education phase in reading get to the point of too much education and start to be an excuse? Should I read and learn AS I LOOK, or read a few books and attend a few meetup meetings before I start to look for properties to rent?

@Aaron K. Ok so how does the tax assessor put a value on the property then? How does the county know how much to charge me in taxes for a house that they have absolutely no information on? I’m confused as to how much they know to charge me if they know nothing about it.

@Aaron K. The asking price is... in my opinion... is what the house would be worth after all the work is done on it. And the taxes they paid on it from ‘17-19 was for a value of 59,000 not 158,000. That’s why I saw a big red flag when I read it.

https://www.zillow.com/homedetails/603-Willow-Ln-Irving-TX-75061/27090520_zpid/

There is a house for sale in Irving, TX that has been gutted down to the studs I found on Zillow. The asking price is 158,999. The tax assessment for the property the last 3 years has been at 59,00! My question is how much would you bid for this house? The comps around it are for high 1’s to low 2’s. I’m not going to buy it because I’m new...as in this would be my first... and don’t want to get too deep on my first. But if tax assessment is 59k, I thought a reasonable number would be 35-50k max. Any thoughts on this?

I’m looking at a property on Zillow, the asking price is 158,999. However when I looked at the tax assessment on there for the property it listed as being assessed for 59,000. The property has been gutted down to the studs which means total rehab! I’m not going to buy it because I’m new and don’t want to take this on as my first job. My question is: when there is such a dramatic difference in what it’s worth in the tax assessor office and asking price, which would you offer? I’m thinking I would offer 50k as a max because so much needs to be done.

@Nick B. Who was the agent? I live in the DFW area and want to avoid them like the plague!

New investor, just starting out. I am currently in the contract security field and just celebrated my 2nd wedding anniversary in December. I’m 44(45 in March) and don’t want to depend on Social Security to fund me and my wife when the time comes. I currently rent an apartment and we’re looking to make our first rental a duplex to start bringing in cash flow and house. I look forward to meeting everyone in the BP family and start living the life I want instead of the one I’ve been dealt.

New investor, just starting out. I am currently in the contract security field and just celebrated my 2nd wedding anniversary in December. I’m 44(45 in March) and don’t want to depend on Social Security to fund me and my wife when the time comes. I currently rent an apartment and we’re looking to make our first rental a duplex to start bringing in cash flow. I look forward to meeting everyone in the BP family and start living the life I want instead of the one I’ve been dealt.