This week I made an offer on a foreclosed property this week. It was listed for 69K but I only wanted to offer 45 to 50K. Why such a low offer on an already reduced priced house? The house originally had a loan on it for over 133K and I only wanted to offer 45 to 50K b/c of the foundation issues that will require a foundation repair and will forever impair the salability of the house. In addition the plumbing will most likely require some repair if not today sometime in the near future b/c of the foundation work that is needed. Can this house be financed today? Continue reading Offer on a foreclosure in Austin
Tag Archives: real estate investment
Real Estate Investment
FIRE!!!
over the holidays I had to deal with a fire in one of the apartments that I own. I am relieved that the resident was not killed and thankful that the damage was not to the entire building! Fires can wreck a real estate investment luckily this one is insured so the damage will not be as large as it could have been, but nevertheless it is a big distraction when you want to start the new year on a positive note. Check out some of the pictures of the fire
after the fire Continue reading FIRE!!!
Home starts down mean?? Increase in rents!!
an article in the austin business journal outlined the current state of new construction in Austin. You can find it by clicking the link below
Austin home starts down 26% in 4Q
2011-01-04 12:40 PM CST
Click here to read this article
For the existing housing stock this is good news as it means that builders are not adding to our existing inventory of homes and that as demand continues to build and as those living at home and doubling up move less and less inventory will be available for them to chose from. Continue reading Home starts down mean?? Increase in rents!!
Buy from pessimists and sell to optimists
Ron’s sayings and things # 2,857 to make you a better real estate investor.
This is one of the fundamental real estate investment concepts that most people seem to misunderstand or to miss apply to themselves. Buy low and sell high plays a part in this concept. It sounds easy enough but the application of this wisdom contained in the instructions is a complex concept. To do this you must understand market fundamentals and take your time to study who the pessimists are and who the optimists are. When the market is ugly and no one wants to be a real estate investor, foreclosures are everywhere, and everyone who has something to sell and there are no buyers or very few who want to buy real estate because of the general state of the economy. In this market the pessimists are ruling. The trick is to buy something that you can fix or that is in need of the specific skills that you can easily provide. Continue reading Buy from pessimists and sell to optimists
Austins Affordable Housing needs
I recently read an interesting article in Realty Line Newspaper (www.realtylineonline.com) The article was analyzing austins affordable housing needs. It was written by David Tandy of Gracy Title. The article was highlights one of Austins Austins affordable housing not-for-profit organizations “Foundation Communities (http://www.foundcom.org/)” and their efforts to assist those who need affordable housing.
Please check out the article attached to this post as a pdf and go to foundations communities website and support a not-forprofit organizaiton by giving back to those less fortunate this christmas season! Follow the link: austin affordable housing
Owner Financing in Texas
From the Texas Association of Realtors:
“Many of us have been very concerned about the implementation of federal legislation known as the SAFE Act that would severely limit an individual’s ability to seller finance their property in Texas.
We are working on numerous regulatory and legislative solutions to this affront to private-property owners, and have some good news to report. At our urging, the chief regulator over the SAFE Act in Texas, the commissioner of the Texas Department of Savings and Mortgage Lending, has taken significant steps to allow Texas property owners to continue to seller finance up to five transactions in a 12-month period. Continue reading Owner Financing in Texas
How Does If Feel To Fill Up An Apartment Complex In 45 Days
How Does If Feel To Fill Up An Apartment Complex In 45 Days
Exhausting! Exhilarating all at the same time
In the last 45days or so we have rented 27 apartments evicted 2 people and re-rented their units bought. 6+8 refrigerators and need to buy more, 13 stoves and microwaves fixed countless plumbing leaks, fired 1 employee and hired 4 more, cut so much brush the city is looking at the property and wondering when will he stop. We have aggravated a neighbor and pleased them in the same day. One neighbor is so pleased with the work going on a the property that he said we could cut some brush on the property line and he would pay to have it hauled off! We have also Disposed of 2 dead cats, Gotten 1 bad check, and Taken 100’s of calls. I am tired! I am excited at the same time.
Are you growing your business?
One of the things I want to do this year is grow my business. So I began looking for opportunities to invest and to put together another group investment or syndication. I found a small apartment complex in one of the communities close to my home base and decided to go and look at it b/c it was a screaming great deal!
The End of a good thing
Today an investment fund that I manage is scheduled to recieve the last payment on an owner financed house that was sold a couple of years ago. The deal was a good short term deal and it paid for the most part like clockwork! I hate to see it go, but alas the end is the end or so it seems. Continue reading The End of a good thing
Are you thinking long term about appreciation?
check out the blog post by the bawldguy! http://www.bawldguy.com/how-to-quadruple-your-money-with-no-appreciation/
He is laying out the conservative analysis of a 5 year, no appreciation, property performance. Continue reading Are you thinking long term about appreciation?