Update: A Good Rental on Diamond Trace

At the time of purchase, the credit market was just starting to tighten so I had the option of 10% or 20% down.  I wasn’t completely confident in the area rental market so I decided to put 20% down on this property.  If this property works out then I’d go with 10% on the next… Read More »

A Good Rental on Diamond Trace

I recently executed a contract on a property in my “buy and hold” target area or NE Fort Worth/Keller ISD area. The house is 1680 sqft, 3/2 built in late 2005 that requires no work other than some cleanup and landscaping. Tarrant county appraisal district values the property at $130,800 but I picked it up… Read More »

Where are the Motivated Sellers?

After three weeks scouring the Keller area and making “low-ish” offers, i’ve determined that we haven’t hit bottom yet. Utilizing an county appraisal data advanced search there are over 2,000 houses in Tarrant county owned by banks. However, they don’t seem too motivated to sell as most are offering these properties at a 5%-10% discount.… Read More »

$90k Offer on $144k New Keller House

While driving the streets in my target area I ran across a small home with a Beazer sign. I thought it was odd as the neighborhood has completed for quite some time. I called the number on the sign and left a message. When I returned to the house I looked it up in MLS… Read More »

2008 Cashflow Plan – First Steps

he first step towards my goal for of purchasing 5 cashflow properties is to determine my target property areas and types. I ran purchase and lease comps in several areas and decided to focus on newer properties (< 7 years old) in the NE Fort Worth/Keller area. These are close to my home and it… Read More »

The Perfect Storm – Builders in Trouble

There are a number of developments in the market that appear to be creating the perfect storm for investors. I’d like to highlight a few recent articles in the local paper and give you my thoughts of how these shifts may create great opportunities for investors. Home builders have building like crazy the fast few… Read More »

The Perfect Storm – Subprime Mortgages are History

The bust of the subprime mortgage industry may be a boom for rental property investors. The rental market in DFW has been depressed for years as interest rates dropped to historical lows and renters turned to buyers. The populatiry of subprime lending over the last few years didn’t help the rental market as would-be renters… Read More »

Anatomy of a Rehab – Postmortem

I finally closed on the sale of 911 Worth on June 6th, 2007. It took much longer to sell and I didn’t receive the price I had hoped. Here is what I learned… 1. While the location was great, the timing was poor. The property was one house down from the construction of a new… Read More »