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All Forum Posts by: Tyler H.

Tyler H. has started 6 posts and replied 190 times.

Post: Is Dallas Fort Worth overheated?

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

Ryan,

Best of luck in your endeavors. I think you'll need more cash to cover down payment and closing costs for an acquisition, depending on how you want to structure your first deal. Parts of Meadowbrook are ok, others are not. A lot depends on your investment strategy as well.

Post: Property Tax Protest Tarrant County

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

I usually protest online. If you received your blue sheet in the mail, it will allow you to so.

If you have hefty increase for a larger property, you may want professional help.

Post: Rate This Buy and Hold Deal

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

Property taxes seem low?

Post: Flipping in DFW market

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

@Amir Khan I think you can and should buy deals at 70%, if available. However, I think you have seen that your competition is likely to pay more (we have seen hedge funds buy up to 90%, which is crazy, IMO). Investors have to modify their criteria, according to their risk tolerance, to secure more deals at higher LTV's, (of which I am no exception). I also remember when many hard money lenders were capped at 65% LTV in DFW; so, buying and lending criteria constantly evolve.

Post: Flipping in DFW market

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

@Amir Khan Unfortunately, 70% of ARV is outdated investment criteria for DFW, at least with the majority of deals I see offered from wholesalers (which we buy very few of). 75-80% is more realistic, depending on area/rehab, but even those are difficult to source in such a competitive market like DFW. Working with competent, independent wholesalers, with accurate ARV's and repair estimates, is even a challenge-- there is an astonishing lack of knowledge and professionalism from some, due to such a weak barrier of entry. However, with any potential market shift, this may change.

Post: Newbie Advice from Ft. Worth Tx

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

Congrats on the start of your real estate journey. Encourage you to "read till your eyes bleed" in multiple facets of investing on BP, as well as connect with other BP members and network with local REI groups. Meanwhile, research the Tarrant County Delinquent Tax Sales site for more info (majority of these properties are usually vacant lots).

Post: FINALLY approved for HELOC on rental property in Texas!

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

Congrats!

Post: North Texas Spec Builds Complete

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

Investment Info:

Single-family residence other investment in Ennis.

Sale price: $229,900

New Construction builds finished in Ennis, TX. Properties are located right next to each other. End product turned out great, with amazing upgrades, including oversized garages, quartz counters, custom cabinetry, designer tile showers.
1 under Contract, 1 on market!

What made you interested in investing in this type of deal?

Continuing to build over the next few years.

How did you find this deal and how did you negotiate it?

Fellow real estate agent connections

How did you finance this deal?

Small community bank

How did you add value to the deal?

General Contractor, Listing Agent, Partner

What was the outcome?

End product was amazing, will profit from deal, plus provide amazing value to end buyer.

Lessons learned? Challenges?

Estimating all costs for new floor plan and elevation is not easy. There are always unexpected delays.

Post: N Texas Spec Builds Complete

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

Investment Info:

Single-family residence other investment in Ennis.

New Construction Builds Finished in Ennis. Properties are located right next to each other. End product turned out great, with amazing upgrades including oversized garage, quartz counters, custom cabinetry, designer tile showers. 1 property is current under Contract, 1 on market!

What made you interested in investing in this type of deal?

Ability to build on an ongoing basis for next several years.

How did you find this deal and how did you negotiate it?

Connection with fellow real estate agent.

How did you finance this deal?

Community Bank

How did you add value to the deal?

Long term relationships with subcontractors

What was the outcome?

End product is phenomenal. We will profit, plus provide great value to end buyers.

Lessons learned? Challenges?

Estimating costs for new phone floor/elevation, accounting for unknown costs/mistakes

Post: Fort Worth or McKinney

Tyler H.Posted
  • Real Estate Agent
  • Fort Worth, TX
  • Posts 208
  • Votes 70

Fort Worth will most likely have a lower purchase price point, compared to McKinney, but all in all, depends on what type of property/tenant/return you are looking for. Take a hard look at property taxes in Collin vs Tarrant County.

Fall/winter can be a great time to buy. The DFW market has softened a bit in the last few months, since summer selling season and corporate relocations have slowed.