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All Forum Posts by: Rina Amir

Rina Amir has started 15 posts and replied 38 times.

Post: Code Compliance city of Ft. Worth

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9

Is there an attorney familiar with code compliance issues in the city of Fort Worth, TX that I can consult with for something small/short? 

Post: Property tax increase is INSANE!!!!

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9
Quote from @Carlos Ptriawan:
Quote from @Rina Amir:

Property tax increase is insane. I know you can do tax protest to adjust but it's not always successful. 

Some tax protest companies charge 40% of the saved amount, which is also a lot. 

What do people do? The past few years have been really rough and start to become barely break even. 

This is for Florida and Texas , right ?

Well ..... just invest in Alabama, still cheapest for property tax.

 my question was about TX (Ft. Worth) 

Post: Property tax increase is INSANE!!!!

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9
Quote from @Brad S.:

I have rentals in Tarrant County and you can file a protest directly online yourself at tad.org  My Property Mgr refers a tax protest service, but I opt out, since it is pretty easy to do yourself and I am an Appraiser and don't see the need to pay 25-40% for the service. Now, it may be worth it in some instances, but I have not had any trouble doing it online. Like you, I am in CA so I wouldn't go in person. 

If you don't yet have an account with tad (tarrant appraisal district) you need to go to tad.org and sign up. Then you can add your property/ies to your account, with the info on your property value notice (account # and online PIN). Then you just click on the property and there is a Protest Value button and fill out the form. If I remember correctly, they also provide the valuation of other properties on which they based your valuation on. But, I don't see that option on their website right now, but their website is very slow at the moment, probably due to high traffic. But, they should provide you with that information. There are 3 reasons for protest on the form, incorrect appraisal value as compared to other properties, incorrect appraised value and/or value is unequal compared with other properties. That's why you need to know the other properties' values that they used to appraise yours. 

Anyway, the hard part is getting the data since TX is a non-disclosure state, which means the sales data is not public. You can use zillow and look up sales in the neighborhood around Jan 1 (I believe that is their valuation date). Then you can change the search criteria to find similar properties to yours and if click on the individual sales and scroll down on the property info, zillow lists the date the property was listed in the mls and the list price and it lists the sale date. So, the sale price is most likely relatively close to the list price. So, that gives you a good idea of what value your property should be. Anyway, I do get mls data for the area, which helps me. Let me know if you'd like any help.

At least their is a silver lining, since the higher tax value, is reflecting that prices have gone up. But, yeah, TX prop taxes are high!

Thank you so much for this Brad. I will check out their web site, I believe i do have an account with tad. We do have a realtor who can get us comps. Would be interesting to see what they base their value on? Our realtor thinks they just extrapolate price per sqf from smaller houses to larger ones since there haven't been sales of similar ones in 6 months. 

Post: Property tax increase is INSANE!!!!

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9

Property tax increase is insane. I know you can do tax protest to adjust but it's not always successful. 

Some tax protest companies charge 40% of the saved amount, which is also a lot. 

What do people do? The past few years have been really rough and start to become barely break even. 

Post: insurance problem in Orlando

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9
Quote from @Ricardo Torres:

Use a broker, same thing happened to me.

shoot me a message and ill introduce you.

I would appreciate broker referral 

Post: insurance problem in Orlando

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9
Quote from @Tyler Gibson:
Quote from @Luis Malvar:

hi there, I have kin insurance and everything was going good until I bought another house so my primary residence became a rental house, I tried to get kin insurance on my new house and when I was talking to them I told them that and they said that my wind mitigation wasn't working to rewrite a new policy and they advice was to cancel the policy and get one from another company. I really don't understand that kind of stupidity  but I can't do anything at this point. my question is, what insurance company you guys use for rental houses in Orlando Florida.

thanks


 As to the other folks mentioned use an insurance broker. They'll be your best advocate they'll find you the best possible options and because they have a financial incentive they will continue to work with you as things change and try to make sure that your properties are always insured. I'd be happy to provide you with some contact information for my insurance partner.


 I would appreciate referral to insurance broker. 

Post: Loan contingency for NNN

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9

Thank you gentlemen. Yes our agent is not exactly ..... how to say it.....never mind. 

Also the seller is asking 1st deposit at signing and a second deposit after the last contingency expires. The second deposit non refundable. 

Each deposit about 2% of the deal. How common is this second non refundable deposit? 

In addition they are countering with extra 15 days on top of initial 30 in case we need more time for the loan and an additional 2% non refundable deposit. 

Post: Loan contingency for NNN

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9

We are putting an offer on a NNN and seller insists on deposit without loan contingency. We have seen few deals already and never seller insisted that the deposit be without loan contingency.

How common is it? We are very uncomfortable with signing and LOI without loan contingency.

Post: What are the customary closing costs for a NNN in state of MA?

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9

No, I'm asking about MA not CA

Post: What are the customary closing costs for a NNN in state of MA?

Rina AmirPosted
  • Investor
  • Sunnyvale, CA
  • Posts 39
  • Votes 9

Seller says that customary for buyer to pay for title policy and seller to pay transfer tax while title company is split. Is this true?