All Forum Posts by: Rob Lee

If I had to do it again I would go with Champion in-person courses. It's much faster than the online method. Good luck!

Both are great ideas. If you know that you want to own multiple properties start with #2. The Austin and DFW markets are on fire. The competition for "starter" homes is crazy. Out of state investors are running up the housing prices. If it hasn't reached San Antonio yet I can't imagine that you have long to get in front of it. Best of luck in your decision-making process. 

Our first home became our first rental property. Being homeowners allowed us to understand the cost of ongoing maintenance and repairs. We took good care of the house and were able to make upgrades a couple of years before turning it into a rental. The upgrades increased the marketability and allowed us to get top rent. Living in the house also allowed us to pay the mortgage down significantly. The property has great cash flow and rents easily. It was one of the best decisions we've ever made. 

Rob

Investors and some home buyers are waiting for home prices to come down. Wondered why I hadn’t heard much about the impact of forbearance and deferments. According to this article, there is little concern regarding a housing market crash. Thoughts? https://www.bankrate.com/.../end-of-forbearance.../amp/

Have you considered seeking legal advice?

Are you just sharing or do you have a question?

It sounds like you have found your answer. Austin is a very popular destination for relocation and out-of-state investors. It is currently the most expensive place to live in Texas. As such, Dallas/Fort Worth is receiving a lot of spillover. First-time home buyers are competing against investors in that under $300K space. It's very competitive. Any numbers provided would be purely anecdotal. Personally, I ask the seller's agent how many offers they have before my client submits an offer. Who wants to be offer number 11?

The only properties that are not receiving multiple offers in the current market are new construction.  

I have heard of DFW properties under $300K getting over 20 offers and 20% over asking. I am not familiar with any that have waived appraisal but buyers can agree to pay the gap if the property does not appraise. The DFW area is a great place to live and work. The DFW real estate market has exploded over the last 5-7 years. Due to a lack of inventory our market is very competitive. Prices have continued to rise even during COVID. There are always opportunities for those who recognize them quickly and have realistic expectations. 

Rob

I've had a bad broker and now I am with a good one. Good brokers are focused on creating great agents. Bad brokers are trying to keep as much of your fees for themselves as possible. This is something you cannot see just by looking at the office furnishings. Make sure you interview the broker. Find out what kind of paid staff the office has. There should be someone on staff to help you with contract questions. Volunteer realtors are not enough. Realtors get paid to sell houses. They will have little time to support you. Inquire about education/resources specific to new agents. Request a copy of the education calendar. Good luck!