All Forum Posts by: Ryan Young

Hello Bigger Pockets Friends!

I'm working on my first subdivide and could use any advice and suggested resources. This is an ideal scenario where the land owner is a family friend so they're willing to work with me. It's 161 acres in one of the fastest growing counties in the country, Kaufman, Texas. The property has several gas easements on it, but we've figured out the ideal layout... for now. This county wants to stay more rural, so we are keeping this subdivide pretty simple and creating two acre lots for now, until the county tells us otherwise. I know that the original plan will not be the final plan, just a starting point. 

My plan is to seller finance the property in phases. I would do a joint venture but the property owner wants no risk. The frontage road is a nicely paved county road so these lots will have the least amount of cost to develop. There is already electricity running to the property and across the middle of it. I am looking to develop 8 two acre lots first along the frontage road. Then I plan to use the proceeds to fund the rest of the development. Right now I have an initial site plan and we are working on a drainage plan to start the conversation with the county. Being a newbie, I couldn't get a civil engineers attention b/c they are all too busy with so many people moving here. The one's that would give me attention wanted a $10,000 retainer just to begin the conversation. Needless to say, I looked for other options. I got resourceful and found some international engineers that did the initial drawings for me. Needless to say they were far less than $10,000 and they even gave me the CAD files. I know my next step is to figure out my expenses for the whole project in order to figure out how the seller finance phasing structure will work. Once I have all the costs, I can present my proposal to the land owner and go meet with the county. 

Does anyone have any suggestions on how to price out the expenses to develop 66 lots on 161 acres without first having to pay a civil engineer a retainer? I'm also looking for any civil engineer referrals and or any advice at all. 

Thank you in advance, your insight is greatly appreciated!

-Ryan 

This property is a 4 bed 1 1/2 bath brick house on slab built in 1971. The 1 car attached garage is converted into a bedroom with closet and vented A/C. There is an large extended closet attached to the converted garage and utility area that could easily be converted into another bathroom. Tax rolls show 1,292 sqft but it's actually 1523 sqft with conversion. The comps are all 3 bed 2 bath so to get top dollar we would have to configure the extra 1/2 bath. The connected 1 1/2 bath could be converted into 2 full baths fairly easily. The owner just filed a roof claim and had a new roof put on last week. The HVAC has been replaced in the last couple year, but the compressor was not. Foundation work was done when the seller previously purchased the property.

ARV: $180,000

Repairs: $22,361.46

(Repair Sheet Link)

(Property Photos Link)

Rod Hanks I talked to Code Enforcement and they said I had to go before a district judge to get a release for the demolition order. So, tomorrow I'm going to the district court and the tax office to see what I can make happen. Wish me luck! Thanks for the advice!

Thanks @Ori Skloot A payment plan could be a good option. I will at least ask & find out what my options are. You can't get what you want without asking...

I don't often post on here because it seems most questions have been asked before and I can find the answers without creating a monotonous post. However, today I am stumped and need your help. I found a vacant property in Greenville, TX and the owner now lives in Florida. He had no idea the house was still in his name and assumed it was foreclosed on. Come to find out it appears the mortgage company that had the lien went out of business and somehow the electronic mortgage system issued a release of lien on the property, making it free and clear of any mortgage debt. The owner said he would be happy to sell me the property for whatever is owed on the property which comes out to about $15,000 in delinquent property taxes and code enforcement liens. I thought I had won the lottery until I found out that's about what the property is worth. I was planning on wholesaling it, but I don't stand to make enough money to make it worth my time unless I can somehow negotiate the taxes down. To make matters worse I'm also on a time crunch to make something happen because a demolition order was created by the city today. I have thirty days. Does anyone have any ideas on how to make this turd shine even a little? I feel like I would be doing the city a favor and saving them some money by taking this eye sore off their hands and preventing them from having to spend any money on the property that they will never see. 

I would really like to make something happen even if I only make a few bucks. I think the experience of working a deal like this would be worth its gold merely for the  education of the process. Any ideas would be greatly appreciated, even if it's telling me to walk away... Thank you!

Rare Dallas property available in Greenway Crest, 75209. This property could be remodeled using the existing floor plan and held as a rental. Properties on the same block are renting between $3,000 - $4,500. Property could also be flipped, but square footage would need to be added to maximize returns. Another option is to scrape and build new. Most properties being built in the area are maximizing square footage for lot at 3500 - 4000 sqft and are selling around $1.2 million. Lots of options to choose from. Existing building is 3 bed, 2 bath 1468 sqft built in 1948 on pier and beam foundation with detached 1 car garage on a 60 X 140 Lot. Property is currently gutted to the studs and ready for your ideas. Please contact me with questions. I have comps available by request. 

Property Photos Link:

Great investment property in established Watauga neighborhood, close to schools and shopping. 3 beds 2 baths 2,029 sqft brick on slab foundation with 2 car garage built in 1978. The house needs work, but has tremendous upside potential. Minor foundation, HVAC needs to be replaced, and extensive cosmetic updating. Roof is less than 5 years old. 

ARV: $165K

Repairs: $33K

Asking: $105K

Rent: $1450

My name is Ryan Young and I work for DMax Investment Properties in Dallas. If you are considered a Birddog, Wholesaler, Wholetailer, Investor, Agent, or Broker in the following cities reach out to me and I can be your best cash buyer.

Arlington, Burleson, Cedar Hill, Denton, DeSoto, Duncanville, Fort Worth, Garland, Grand Prairie, Keller, Lancaster, Mesquite, North Richland Hills, Rowlett, Saginaw, Wautauga, White Settlement

We have the purchasing power to buy over 50 houses a month cash, we will pay top dollar and are READY TO BUY immediately. Please bring us your deals! Agents, we need hip pocket listings! Investors, if you're looking to sell your portfolio at the top of the market, look no further! Contact me!

You do live where they film Texas Flip and Move...

The house is a '99 build and is already set up for an Assisted Living Facility. Texas Department Of Aging And Disability Services Assisted Living Facility License (expires in 2018) is built into the purchase price. The RN to this point has expressed interest in staying on board. She is currently receiving $13/hour and is working 20 hours/week (part time). House can support 5 tenants paying $115/day each ($17,250/month) and up to 7 tenants (3 paying $115/day 4 paying $70/day totaling $18,750/month). The interior has been renovated with an interior designer's touch. Roughly 10,000 Baby Boomers will turn 65 today, and about 10,000 more will cross that threshold every day for the next 19 years!!!

• Already licensed
• Already rehabbed/modified
• Ready for senior care tenants