Tuesday, March 31, 2020
APRIL 2020 CASH FLOW PROPERTY UPDATE - Crazy Times in Real Estate
Texas Real Estate Commission Information About Brokerage
Thanks for visiting the DFW Investment Blog,
Below is the APRIL 2020 property update.
First, I hope you and your families are doing well in during the COVID-19 situation. It is crazy what has happened these past 2 weeks on all fronts. The question being asked is - “What happens to Real Estate in this environment?”
Title companies and lenders have been classified as “essential” businesses. With most of us in Shelter in Place, viewing properties is unlikely. As properties come on market, I am asking listing agents for financials, rents, utilities, etc to get an idea of the cash flow to make an evaluation.
Properties that have been listed a long time because of being overpriced are more likely to come down to realistic pricing (I executed 2 contracts this past week on properties that had been overpriced and sellers finally got real). Deals are happening. When this is over, the State of Texas is still extremely strong and should recover quickly.
Please let me know any questions and any updated parameters you have.
Below is the APRIL 2020 property update. Please let me know any questions and any updated parameters you have.
When clicking on below links, you can click on DISPLAY on the upper right of page to display property by property details.
APRIL 2020 LIST
SHORT LIST OF DUPLEXES
FULL LIST OF DUPLEXES
SHORT LIST OF TRI/QUAD PLEXES
FULL LIST OF TRI/QUAD PLEXES
FULL LIST OF COMMERCIAL MULTI-FAMILY
OTHER PROPERTIES FOR SALE – Updated 4/1/2020
0. 18 units (duplex/half plex mix) New Braunfels - 100% occupied - Great Location - $4M - overpriced BUT, worth a look on lower offer
1. Brand new 4-plexes and Duplexes south Dallas, next to Google Data Center - Ready 2020….Lots of Options, solid builder
2. FOUR 4-plexes inside the Texas A&M loop - $1.6M
4. San Antonio 4-plex - $656,000 - Brand New Build
5. 6 Unit Commercial MF - Stephenville, TX (Tarleton State College) - $800K - Great location
6. 2 duplexes in Bastrop (outside of Austin) - $650,000
7. Off Market - Package of 4 duplexes (8 units) built in 2018/2019 - $1.650M - Large Units - $38,400 gross annual rents per duplex ($153,600 all 4 duplexes)
8. 4 unit property Texas A&M - on TAMU Bus Route - $365,000 - 8% Cap
10. 3 duplex package in Weatherford (west of Ft Worth) - Year 2009 build - $1.250M
11. 12 duplex package in Weatherford, built 2009 - $3.2M (24 units) Solid location.
12. 14 units Central Denton, near colleges - $1.350M
13. Full renovated duplex in Central McKinney, near downtown - $399,000
14. 5-PLEX IN North San Antonio, solid location - $480,000
15. Full duplex in Mesquite, year 2006 - 3/2 unit - $315,000
18. 20 units in Amarillo at $1.250 - 7% Cap
19. New build 4-plexes in San Antonio - $600K
20. New build commercial in San Antonio - 5 unit at $750K, 6 unit at $850K - $1,400+ rent per unit - commercial lender in place
22. 17 units in Mansfield - Class C building, Growing location between new city buildings and new high school…Solid traffic count - $1.4M
23. NEW BUILD 2-4 UNIT - Several new communities being built. Cap Rate approx 6.5% on these. Advantage of low maintenance first few years - good builders on all these projects….
24. 30 duplex portfolio in Lubbock,TX - $215K per duplex, $2K rents on each duplex - Built 2002-2004 - owner will split up package
HALF DUPLEXES
This is becoming a more popular option than town homes. Typically better locations, lower price and No HOA fees gets them to a better cash flow number. Also popular for those investors working the AirBnB model to achieve higher cash flow.
FLAT FEE MLS LISTING (100s of Internet Sites) - $150 – GREAT WAY TO LIST FOR SALE AND FOR LEASE PROPERTIES
I offer a Flat Fee MLS service to list your investment property or unit for rent on MLS. First listing is a flat $150 and each listing after is $125. The flat fee gets the property on MLS and all the sites that pull feeds from those sources. Great exposure for your property. If you would like information on this program, please call or email.
FULL SERVICE LISTING - 1% Listing Fee
If you need more than the MLS Flat Fee service, I will be offering Full Service listing for only 1% on the listing side (still reserve 2-3% for buyer broker). Reduced commission but full representation of photos, signs, lockbox, negotiations, etc.
Texas Real Estate Commission Information About Brokerage
Please call/email for details.
Again, I am a State of Texas licensed Realtor that works with buyers to locate property. My focus throughout the Dallas/Ft Worth Metroplex are duplexes, 4-plexes and small commercial multi-family property. This blog is updated bi-monthly (I also send out a bi-monthly email with the latest property update, let me know if you would like to be added to that list).
Texas Income property, duplexes, 4-plexes, apartment complex, quad plex, quads, duplex, single family investment, Dallas Real Estate, Fort Worth Real Estate, DFW income property, austin duplexes, houston income property, san antonio duplexes
Thursday, March 26, 2020
Cash Flow Property of the Day #2 - 4-plex in Weatherford
CASH FLOW ANALYSIS - PROPERTY #2
These are not my listings and won't list a specific address. They are currently Active when this post goes live. My numbers for analysis on tax, insurance and maintenance are approximate. I use the Investment Calculator on the GoodMortage website (I have no affiliation with good mortgage, just like the calculator).
4-PLEX FOR SALE in Weatherford (west of Ft Worth)
Location is in fast growing Weatherford (west of Ft Worth). The property location is more rural in nature, approximately 5 minutes to downtown Weatherford. There aren’t many 2-4 unit properties in Weatherford and properties like this are popular among renters that want more traditional renting without the cost of a single family rental.
Asking price of $525,000
Each unit is3 beds, 2 baths
Gross Monthly Rent is $970, $1050, $1075, $1095 - $4,190 monthly total (room to bump rents to $2,000) - $50,280 annual
Tenants pay electric. There is a well onsite, so no cost for water (owner or tenant). Owner pays electric to operate the well (nominal).
Taxes (based on $400,000 asking price) - $13,650
Insurance - $2,000
Maintenance - $250 per month (This won't be spent every month but a good amount for budget).
25% Downpayment of $131,250 (4-plex lending has been 25% down)
I don't include property management expense as I feel with technology and the amount of subcontractors/handy men/MLS marketing services, you can facilitate the management yourself. If you would like to include, add 10% of rent. I’m happy to discuss how to get around the property management cost.
Based on above #'s, this comes out to annual Cash Flow of $6,250 ($520/month).
Analysis: I would like to see more cash flow. Year 2008 is good for build and I do like the ability to increase rents. Low owner expense with well onsite. With that said, I would like to see a 4-plex yield $800-$1000 month on cash flow. I would say this property at $480,000 makes more sense.
IT’S WORTH KEEPING AN EYE ON, BUT PRICE SHOULD BE LOWER.
I have 15 years experience working on investment property transactions. If you need a broker to represent you as a buyer or seller, please consider using me........ Also, need to sell a property? Ask about Full Service 1% program (not 3% listing fee)....... OR $150 MLS Posting program on for sale or for rent properties - Ideal for Investors that understand contracts and just want the exposure.
Let me know any questions.....
Cash Flow, investment property, duplex, 4-plex, multi-family, apartments, four plex, cash on cash, cap rate
These are not my listings and won't list a specific address. They are currently Active when this post goes live. My numbers for analysis on tax, insurance and maintenance are approximate. I use the Investment Calculator on the GoodMortage website (I have no affiliation with good mortgage, just like the calculator).
4-PLEX FOR SALE in Weatherford (west of Ft Worth)
Location is in fast growing Weatherford (west of Ft Worth). The property location is more rural in nature, approximately 5 minutes to downtown Weatherford. There aren’t many 2-4 unit properties in Weatherford and properties like this are popular among renters that want more traditional renting without the cost of a single family rental.
Asking price of $525,000
Each unit is3 beds, 2 baths
Gross Monthly Rent is $970, $1050, $1075, $1095 - $4,190 monthly total (room to bump rents to $2,000) - $50,280 annual
Tenants pay electric. There is a well onsite, so no cost for water (owner or tenant). Owner pays electric to operate the well (nominal).
Taxes (based on $400,000 asking price) - $13,650
Insurance - $2,000
Maintenance - $250 per month (This won't be spent every month but a good amount for budget).
25% Downpayment of $131,250 (4-plex lending has been 25% down)
I don't include property management expense as I feel with technology and the amount of subcontractors/handy men/MLS marketing services, you can facilitate the management yourself. If you would like to include, add 10% of rent. I’m happy to discuss how to get around the property management cost.
Based on above #'s, this comes out to annual Cash Flow of $6,250 ($520/month).
Analysis: I would like to see more cash flow. Year 2008 is good for build and I do like the ability to increase rents. Low owner expense with well onsite. With that said, I would like to see a 4-plex yield $800-$1000 month on cash flow. I would say this property at $480,000 makes more sense.
IT’S WORTH KEEPING AN EYE ON, BUT PRICE SHOULD BE LOWER.
I have 15 years experience working on investment property transactions. If you need a broker to represent you as a buyer or seller, please consider using me........ Also, need to sell a property? Ask about Full Service 1% program (not 3% listing fee)....... OR $150 MLS Posting program on for sale or for rent properties - Ideal for Investors that understand contracts and just want the exposure.
Let me know any questions.....
Cash Flow, investment property, duplex, 4-plex, multi-family, apartments, four plex, cash on cash, cap rate
Tuesday, March 24, 2020
Analysis on Duplex for Sale in Richardson - Cash Flow of Day
With the slow down in Real Estate related to the current health situation, I thought this would be an opportunity to evaluate a property that is currently for sale and do a Cash Flow analysis. I will try to do this once a day and properties that I have visited (exteriors at least).
These are not my listings and won't list a specific address. They are currently Active when this post goes live. My numbers for analysis on tax, insurance and maintenance are approximate. I use the Investment Calculator on the GoodMortage website (I have no affiliation with good mortgage, just like the calculator).
DUPLEX FOR SALE in Richardson
Location is East of 75 near well trafficked streets. This area traditionally has rented well and has experienced rent increases at a steady rate the last 5 years.
Asking price of $400,000
Each unit is 4 beds, 2.5 baths (great unit sizes)
Gross Monthly Rent is $1,600 & $1,7000 - $3,300 total (these are market rents)
Tenants pay all utilities and take care of yard.
Taxes (based on $400,000 asking price) - $10,000
Insurance - $1,500
Maintenance - $200 per month (larger units would have more work. This won't be spent every month but a good amount for budget).
20% Downpayment of $80,000
I don't include property management as I feel with technology and the amount of subcontractors/handy men/MLS marketing services, you can facilitate the management yourself. If you would like to include, add 10% of rent.
Based on above #'s, this comes out to annual Cash Flow of $5,084 ($423/month). Analysis: This falls into the range of typical cash flow for a duplex in a Class B/C range for DFW. I typically see $400-$500 cash flow on a duplex. Yes, you can cash flow better in Class C-/D areas but the tenant turnover is much higher and who knows when those areas will turn.
With this property being in Richardson and solid location near large roads/highways, this property is priced CORRECTLY....
I have 15 years experience working on investment property transactions. If you need a broker to represent you as a buyer or seller, please consider using me........ Also, need to sell a property? Ask about Full Service 1% program (not 3% listing fee)....... OR $150 MLS Posting program on for sale or for rent properties - Ideal for Investors that understand contracts and just want the exposure.
Let me know any questions.....
Cash Flow, investment property, duplex, 4-plex, multi-family, apartments, four plex, cash on cash, cap rate
These are not my listings and won't list a specific address. They are currently Active when this post goes live. My numbers for analysis on tax, insurance and maintenance are approximate. I use the Investment Calculator on the GoodMortage website (I have no affiliation with good mortgage, just like the calculator).
DUPLEX FOR SALE in Richardson
Location is East of 75 near well trafficked streets. This area traditionally has rented well and has experienced rent increases at a steady rate the last 5 years.
Asking price of $400,000
Each unit is 4 beds, 2.5 baths (great unit sizes)
Gross Monthly Rent is $1,600 & $1,7000 - $3,300 total (these are market rents)
Tenants pay all utilities and take care of yard.
Taxes (based on $400,000 asking price) - $10,000
Insurance - $1,500
Maintenance - $200 per month (larger units would have more work. This won't be spent every month but a good amount for budget).
20% Downpayment of $80,000
I don't include property management as I feel with technology and the amount of subcontractors/handy men/MLS marketing services, you can facilitate the management yourself. If you would like to include, add 10% of rent.
Based on above #'s, this comes out to annual Cash Flow of $5,084 ($423/month). Analysis: This falls into the range of typical cash flow for a duplex in a Class B/C range for DFW. I typically see $400-$500 cash flow on a duplex. Yes, you can cash flow better in Class C-/D areas but the tenant turnover is much higher and who knows when those areas will turn.
With this property being in Richardson and solid location near large roads/highways, this property is priced CORRECTLY....
I have 15 years experience working on investment property transactions. If you need a broker to represent you as a buyer or seller, please consider using me........ Also, need to sell a property? Ask about Full Service 1% program (not 3% listing fee)....... OR $150 MLS Posting program on for sale or for rent properties - Ideal for Investors that understand contracts and just want the exposure.
Let me know any questions.....
Cash Flow, investment property, duplex, 4-plex, multi-family, apartments, four plex, cash on cash, cap rate
Wednesday, March 18, 2020
Real Estate and COVID-19
What’s happening with Real Estate during COVID?
Buyers - Keep your lender pre approval letter current and ready. Most lenders are running behind with refinancing, best to stay current so you can move quickly. If you have been looking at property and need further analysis, please let me know.
Investor Sellers - Get your financials together. More accurate the better. If there is ARV possibilities, have those numbers ready to go. Get full copies of tenant leases ready to give to buyers (when in contract). Any CapX to improve property value, either do it or have bids in hand so buyers can evaluate.
Single Family Sellers - With so many people working from home, take the opportunity to get your home ready for sale - paint rooms, declutter, make repairs, add Spring Color, get yards cleaned up - be ready to list as things get back to normal. If you need assistance in figuring value or general questions on the process, please let me know…..Don’t forget my 1% listing program, Full Service and saves money...OR the $150 FLAT FEE MLS Program...
Stay safe, shop local and wash hands.
Jim..JG Real Estate
Buyers - Keep your lender pre approval letter current and ready. Most lenders are running behind with refinancing, best to stay current so you can move quickly. If you have been looking at property and need further analysis, please let me know.
Investor Sellers - Get your financials together. More accurate the better. If there is ARV possibilities, have those numbers ready to go. Get full copies of tenant leases ready to give to buyers (when in contract). Any CapX to improve property value, either do it or have bids in hand so buyers can evaluate.
Single Family Sellers - With so many people working from home, take the opportunity to get your home ready for sale - paint rooms, declutter, make repairs, add Spring Color, get yards cleaned up - be ready to list as things get back to normal. If you need assistance in figuring value or general questions on the process, please let me know…..Don’t forget my 1% listing program, Full Service and saves money...OR the $150 FLAT FEE MLS Program...
Stay safe, shop local and wash hands.
Jim..JG Real Estate
Sunday, March 15, 2020
Mid March Investment Property Update - COVID-19 Impact
Texas Real Estate Commission Information About Brokerage
Thanks for visiting the DFW Investment Blog,
Below is the MID MARCH 2020 property update.
Real Estate market appears to be holding steady in the midst of the COVID-19. I think the low rates are helping. We will see how it plays out. With Stock Market in shambles, real estate looks to be a solid landing ground. I will still be out reviewing properties and numbers. Now may be a great time to try an offer on a property you have been tracking, might catch owners in more open mind.
Below is the MID MARCH 2020 property update. Please let me know any questions and any updated parameters you have.
When clicking on below links, you can click on DISPLAY on the upper right of page to display property by property details.
MID MARCH 2020 LIST
SHORT LIST OF DUPLEXES
FULL LIST OF DUPLEXES
SHORT LIST OF TRI/QUAD PLEXES
FULL LIST OF TRI/QUAD PLEXES
FULL LIST OF COMMERCIAL MULTI-FAMILY
OTHER PROPERTIES FOR SALE – Updated 3/15/2020
1. Brand new 4-plexes and Duplexes south Dallas, next to Google Data Center - Ready 2020….Lots of Options, solid builder
2. 20 units in West Ft Worth - Solid Location - 6.25% Cap - Recent updates
4. San Antonio 4-plex - $656,000 - Brand New Build
5. 6 Unit Commercial MF - Stephenville, TX (Tarleton State College) - $800K - Great location
6. 2 duplexes in Bastrop (outside of Austin) - $650,000
7. Off Market - Package of 4 duplexes (8 units) built in 2018/2019 - $1.650M - Large Units - $38,400 gross annual rents per duplex ($153,600 all 4 duplexes)
8. 4 unit property Texas A&M - on TAMU Bus Route - $365,000 - 8% Cap
10. 3 duplex package in Weatherford (west of Ft Worth) - Year 2009 build - $1.250M
11. 12 duplex package in Weatherford, built 2009 - $3.2M (24 units) Solid location.
12. 14 units Central Denton, near colleges - $1.350M
13. Full renovated duplex in Central McKinney, near downtown - $399,000
14. 5-PLEX IN North San Antonio, solid location - $480,000
15. Full duplex in Mesquite, year 2006 - 3/2 unit - $315,000
18. 20 units in Amarillo at $1.250 - 7% Cap
19. New build 4-plexes in San Antonio - $600K
20. New build commercial in San Antonio - 5 unit at $750K, 6 unit at $850K - $1,400+ rent per unit - commercial lender in place
22. 17 units in Mansfield - Class C building, Growing location between new city buildings and new high school…Solid traffic count - $1.4M
23. NEW BUILD 2-4 UNIT - Several new communities being built. Cap Rate approx 6.5% on these. Advantage of low maintenance first few years - good builders on all these projects….
24. 30 duplex portfolio in Lubbock,TX - $215K per duplex, $2K rents on each duplex - Built 2002-2004 - owner will split up package
HALF DUPLEXES
This is becoming a more popular option than town homes. Typically better locations, lower price and No HOA fees gets them to a better cash flow number. Also popular for those investors working the AirBnB model to achieve higher cash flow.
FLAT FEE MLS LISTING (100s of Internet Sites) - $150 – GREAT WAY TO LIST FOR SALE AND FOR LEASE PROPERTIES
I offer a Flat Fee MLS service to list your investment property or unit for rent on MLS. First listing is a flat $150 and each listing after is $125. The flat fee gets the property on MLS and all the sites that pull feeds from those sources. Great exposure for your property. If you would like information on this program, please call or email.
FULL SERVICE LISTING - 1% Listing Fee
If you need more than the MLS Flat Fee service, I will be offering Full Service listing for only 1% on the listing side (still reserve 2-3% for buyer broker). Reduced commission but full representation of photos, signs, lockbox, negotiations, etc.
Texas Real Estate Commission Information About Brokerage
Please call/email for details.
Again, I am a State of Texas licensed Realtor that works with buyers to locate property. My focus throughout the Dallas/Ft Worth Metroplex are duplexes, 4-plexes and small commercial multi-family property. This blog is updated bi-monthly (I also send out a bi-monthly email with the latest property update, let me know if you would like to be added to that list).
Texas Income property, duplexes, 4-plexes, apartment complex, quad plex, quads, duplex, single family investment, Dallas Real Estate, Fort Worth Real Estate, DFW income property, austin duplexes, houston income property, san antonio duplexes
Sunday, March 1, 2020
MARCH 2020 INVESTMENT PROPERTY UPDATE
Texas Real Estate Commission Information About Brokerage
Thanks for visiting the DFW Investment Blog,
I hope all is well. The start of 2020 continued the trend of lower inventory in all categories. This differs from the past where January usually had a lot of new listings come online. The end of February has seen the market pick back up with some new offerings. Still seeing overpriced to start but sellers coming down off list price…all depends on the area of course.
Below is the MARCH 2020 property update. Please let me know any questions and any updated parameters you have.
When clicking on below links, you can click on DISPLAY on the upper right of page to display property by property details.
MARCH 2020 LIST
SHORT LIST OF DUPLEXES
FULL LIST OF DUPLEXES
SHORT LIST OF TRI/QUAD PLEXES
FULL LIST OF TRI/QUAD PLEXES
FULL LIST OF COMMERCIAL MULTI-FAMILY
OTHER PROPERTIES FOR SALE – Updated 3/1/2020
0. 3 duplexes - SW Ft Worth - off market - Solid Area - $900 rent per unit - $189,000 per property
1. Brand new 4-plexes and Duplexes south Dallas, next to Google Data Center - Ready 2020….Lots of Options, solid builder
2. 20 units in West Ft Worth - Solid Location - 6.25% Cap - Recent updates
3. 7 unit MF in Krum, TX - its been listed - clean area and newer build. In the Denton growth footprint
4. San Antonio 4-plex - $656,000 - Brand New Build
5. 6 Unit Commercial MF - Stephenville, TX (Tarleton State College) - $800K - Great location
6. 2 duplexes in Bastrop (outside of Austin) - $650,000
7. Off Market - Package of 4 duplexes (8 units) built in 2018/2019 - $1.650M - Large Units - $38,400 gross annual rents per duplex ($153,600 all 4 duplexes)
8. 4 unit property Texas A&M - on TAMU Bus Route - $365,000 - 8% Cap
9. Full Duplex in Arlington that is Mis-listed - $366,000 - Rents at $3,050
10. 3 duplex package in Weatherford (west of Ft Worth) - Year 2009 build - $1.250M
11. 12 duplex package in Weatherford, built 2009 - $3.2M (24 units) Solid location.
12. 14 units Central Denton, near colleges - $1.350M
13. Full renovated duplex in Central McKinney, near downtown - $399,000
14. 5-PLEX IN North San Antonio, solid location - $480,000
15. Full duplex in Mesquite, year 2006 - 3/2 unit - $315,000
16. 42 unit townhome package in South Dallas - 7% Cap - $6,000,000
17. 33 units MF in East, Tx - 12% Cap - Class C area - $1.1M
18. 20 units in Amarillo at $1.250 - 7% Cap
19. New build 4-plexes in San Antonio - $600K
20. New build commercial in San Antonio - 5 unit at $750K, 6 unit at $850K - $1,400+ rent per unit - commercial lender in place
21. 35 units in Denton - waiting on file
22. 17 units in Mansfield - Class C building, Growing location between new city buildings and new high school…Solid traffic count - $1.4M
23. NEW BUILD 2-4 UNIT - Several new communities being built. Cap Rate approx 6.5% on these. Advantage of low maintenance first few years - good builders on all these projects….
HALF DUPLEXES
This is becoming a more popular option than town homes. Typically better locations, lower price and No HOA fees gets them to a better cash flow number. Also popular for those investors working the AirBnB model to achieve higher cash flow.
FLAT FEE MLS LISTING (100s of Internet Sites) - $150 – GREAT WAY TO LIST FOR SALE AND FOR LEASE PROPERTIES
I offer a Flat Fee MLS service to list your investment property or unit for rent on MLS. First listing is a flat $150 and each listing after is $125. The flat fee gets the property on MLS and all the sites that pull feeds from those sources. Great exposure for your property. If you would like information on this program, please call or email.
FULL SERVICE LISTING - 1% Listing Fee
If you need more than the MLS Flat Fee service, I will be offering Full Service listing for only 1% on the listing side (still reserve 2-3% for buyer broker). Reduced commission but full representation of photos, signs, lockbox, negotiations, etc.
Texas Real Estate Commission Information About Brokerage
Please call/email for details.
Again, I am a State of Texas licensed Realtor that works with buyers to locate property. My focus throughout the Dallas/Ft Worth Metroplex are duplexes, 4-plexes and small commercial multi-family property. This blog is updated bi-monthly (I also send out a bi-monthly email with the latest property update, let me know if you would like to be added to that list).
Texas Income property, duplexes, 4-plexes, apartment complex, quad plex, quads, duplex, single family investment, Dallas Real Estate, Fort Worth Real Estate, DFW income property, austin duplexes, houston income property, san antonio duplexes
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