All Forum Posts by: Tod R.

I think the unemployment rate will continue to worsen, foreclosures continue to rise. While both will force more renters into the market, these new renters will be forced to cut costs and may not be able to afford as much. As I understand, in times like these, people tend to consolidate their housing. I think there will be more SF rentals as well as apartment rentals coming onto the market, also depressing rents.

How do you see the rental market for the next year or so?

I'm in the DFW area and am about to sell off some acreage that will net me about $25K. I'm trying to decide how to reinvest this. This will be my second deal. Obviously I want it all, equity appreciation/capture and cash flow. I tend to like land deals, but given the economy, new development just doesn't make sense to me now. I think prices and rents will tend to go lower over the next year. Do you agree with this?

If I go SF rental, I could easily buy a typical fixer upper.

I've thought about MH's too. I've read a lot about MH's and like the idea of a small investment per unit allowing me to own multiple units for diversification.

I appreciate any and all input!

Thanks,

Tod

Unfortunately, DFWREIN is defunct. It was ugly...

Randal, what RE club in FW do you belong to? I'm in NE Tarrant Co. I think you're going about it the right way.

Chris, your suggestions are great. I agree successful people tend to congregate. Just like cattle!

I love the look of stained concrete. I would be interested in the price range as well. I've heard that a lender will not loan on a home that has bare concrete. I don't see how this would apply to stained concrete, but was wondering if anyone knew about this as well.

Hi Freddie,

I'm new myself and have found this site to be a wealth of info and you will be a great addition. I look forward to reading more about your networking and marketing expertise.

Thanks Scott. I continue to point out to people that if they are using only recent comps (3 months), then that will probably have a significant impact on the appraised value. For the most part, the only recent sales are distressed sales. Another reason to do your due diligence in order to understand what options are.

Scott,

If there are no recent comps, do you think they put more emphasis on similar sales outside the subject's market, or would they be willing to take older comp's in the same market. I don't know if this is a state by state rule, but here in TX banks have to bid out the appaisal to a preapproved list for a commercial/land loan. Our bank officer is no longer allowed to pick his, or our, preferred appraiser from the list.

Although I can't answer your question exactly, I do think the DFW area is definitely the healthiest market. Solid growth/employment and no wild swings in property values. Maybe harder to hit a homerun here but you should be able to get plenty of singles, doubles or even triples! Take a look at [WEB SITE DELETED] for some more convincing propaganda!

RV,

Be patient. Since you say you are a novice, don't rush in just yet. Get the two deals you have now settled, (refi, leased, sold). Roll that profit into the next deal. I know that LU (Lifestyles Unlimited) would not necessarily agree, but I suggest you become more experienced and educated before cashing out the 401K. You may consider funding a self directed IRA rather than your 401K. However, if your employer is matching your contributions, you would need to consider the impact. Just be patient! Especially since we've already suffered the big crash. I don't think we're going to see a spike in housing prices, or a slowdown in buying opportunities any time soon.