August was a huge month for us, with a lot of clients visited us from California, Canada, Idaho, Seattle and Michigan. In August, we helped 8 clients investing in DFW area, here is a quick summary on what they had done:
- 4 bedroom, 3 bathroom property in Mansfield
Investor: Local investor
This is an interesting case study for other investors to consider – this property is located in Mansfield location attending Ponder Elementary, in fact, the school is right across this property. It is a 1900 sqft home, and the biggest advantage is it has 3 full bathrooms. The layout is really, the 4th bedroom has a full bathroom inside – it’s basically a guest suite. It is rare to find a 3 bathroom property even for larger homes these days. We have just finished renovation to the property, we replaced living room carpet with laminate floors, and we also replaced kitchen vinyl areas with laminate floors, the transformation was really nice, with a fresh look. Property was purchased below $200,000 in total and rent was $1800 a month.
- 3 bedroom, 2 bathroom property in Burleson
Investor: Californian Investor
We sold 3 homes in Burleson in August. The first one was sold at around $150,000, it is a around 1400 sqft, built in 1970s, it was really well kept, and previous owner changed all the windows to energy efficient windows. The yard was really nice, and we had to cut back some tree limbs as they were overgrowing, overall, it is a nice and well established neighborhood, and we were fortunate to rent this property out at $1490 within a week to a young couple. We didn’t need to do much improvements for our client, it was just some touch ups, steam clean carpet and changed some HVAC components to improve efficiency.
- 3 bedroom, 2 bathroom property in Garland
Investor: Australian investor using his self-superannuation fund
This is an interesting project, it was priced below market price, but it needed a lot of works. When we first inspected the property, we predicted potential foundation issues, so we arranged sewer line inspection from plumber. Interestingly, the sewer line was replaced by one of previous owners and current seller has no idea that this was replaced, so only a small section needed to be repaired, as it was damaged by tree roots. Big tree in the front yard was removed subsequently to prevent further damages to sewer line. The rest of updates were mainly cosmetics, we repainted the whole house, changed light fixtures for living room and kitchen, and changed flooring in some areas. We did find a tenant paying $1750 a month to lease this property, he signed 3 year lease with my client.