達拉斯投資者故事4:投資一套在Little Elm漂亮4臥室的房

投資者類型:一位運用退休金的投資者

由於我們在澳大利亞長居多年,我們對澳大利亞的投資者特別了解,很多澳大利亞的投資客運用他們的退休金來美國買房。這位先生曾是澳大利亞礦業公司的董事,他一年之內買了6套房。這是他在達拉斯買的第一套房。

此物業的分析

客戶剛來來到達拉斯,提到FRISCO學區的房子,但我們都覺得FRISCO物業不好出租,加上FRISCO的房子普遍都較小,30萬內買不到什麼4房的物業。我建議LITTLE ELM這個地區給他參考,因為這個社區的學區也是到FRISCO學區。

這個物業的格局運用良好,有4間臥室加上1個很大的獨立書房,還2個餐區和2個客廳,車庫旁還設計了一個給孩子作功課的空間。主浴室有獨立淋浴間,雙面盆。整個房子的採光良好。社區環境優雅,它有游泳池,籃球場,網球場和會議廳,還有一個的社區公園,冬天的時候,如果天氣夠冷,他們可以在了籃球場上滑冰。該社區還舉辦各類活動如聖誕晚會,7月4日煙花等等。HOA費是每年500 多塊,但可以享受很多的活動和設施。

不過,這個物業在市場上很久無法出售,因為前屋主沒有好好的維護這個房。我們的第一印象其實很不好,寵物氣味很重,住戶沒把垃圾拉出去,所以一進門就臭氣沖天,本來我們一進門就準備離靠, 事實上,聞到如此糟糕的氣味,我們在做評估時,還覺得有可能有下水管道的問題,後來發現它之是垃圾處理機(GARBAGE DISPOSAL) 的問題,所以只是一個很小的問題。

由於房子臭氣沖天,我們客戶出價出了較低的價格。結果銀行來做評估時,評估的價格超過這客戶的出價。因此,賣方想盡辦法想要逼我客戶加價,但因為合同已經簽了,最後價格沒有改變。

賣家搬走後,我回去幫我客戶重新預估裝修費用,結果發現房屋的狀況比原先預料良好許多。沒有發現什麼下水道的問題,電路也沒有太多問題,屋內的味道要散掉了,最初,我們原先的預算將近$ 20,000,最後只花費不到一萬就完成整個裝修。

我們作了哪些裝修?

  1. 粉刷:這個房的每個房間都粉刷成不同顏色,有藍色,紫色,棕色,黃色等。幾個房間的內牆還混合2,3種顏色。我們決定將全部的房間粉刷成一致中性顏色。
  2. 地板:該客戶堅持將他全部物業的地板改成合成地板,因為地毯無法持續很長時間,特別是如果是擁有寵物的家庭。
  3. 書房:當我們第一次參觀這物業時,這個書房裡堆滿了箱子,當時我們很難確定這個書房的大小。住戶搬走後,發現這個書房是個大優點,因為它可以作為書房,第5間臥室或第三客廳,而這社區內的4房沒有一間是擁有書房的。我們將全部的書架和牆面重新粉刷,整個書書房感覺煥然一新。
  4. 更換水龍頭:這真的是建商的錯,它們為了以節省成本,而用低質量的水龍頭。這算是一個高價的房屋,應當搭配類似品質的材料。我們更換了不少個水龍頭,讓主衛生間和廚房看起來更加高檔。

我們從這物業學習到什麼?

  1. 第一印象經常是不正確的:這個物業算是一個驚喜(GOOD SURPRISE),狀況比原先預期的好很多。
  2. 格局是最關鍵的部分:如果房子有個良好的格局,那就是成功的一半,你可以運用空間來搭配家具,我很喜歡這個房屋的書房設計,它是一個完全單獨的房間,並有內置的書架。2000年後的房屋很少有類似的設計。
  3. 車庫旁邊的置鞋區:(SHOE AREA):SHOE AREA可以讓小孩進車庫旁前換穿鞋子,還可以置放他們書包等。租客的妻子說:“我現在終於有一個地方讓全部的孩子一起換鞋“。如果你的物業車庫和走廊之間有足夠的空間,增加一個SHOE AREA會是一個增值的小投資方法。

客戶最後的總成本大約$ 275,000,目前租金每月2200 美金。這個租戶本來就是住在這個社區,他和我們簽訂了3年合同。最大原因是他們有3個孩子,就讀的學校都在同一個學區,其中小學就在這社區內。這個區域的主要是靠資本增值,因此租金回報較不如達拉斯其他地區,目前物業一直以每年10%左右的升值,12個月後,這個房子的市價已經超過30萬。

Thomas Su

Team Leader – Team Thomas Su

Keller Williams Realty Dallas Preston Road

Email: rwpglobal@gmail.com

達拉斯投資者故事3:投資一個法拍屋公寓

在此和各位分享我們在達拉斯投資的第一個物業的過程,當年我們剛抵達美國,什麼人都不認識,萬事起頭難,而為了要學習到買法拍屋和整修的經驗,我們也要自己先付出代價才能來了解整個過程,所以雖然這是個很小的投資,但從中學習到很多寶貴的經驗。

這個物業的介紹:

這是我拿到地產經紀牌照的第一個月,我當時還在受訓中,所以是一邊上課一邊寫合同,這又是一個很複雜的合同,因為法拍屋需要2份合同。這個物業是單房(1間臥室),總面積只有750平方英尺的小公寓,但它空間的運用很好還加上一個陽台,陽台上還有一間儲藏室。正是可以用麻雀雖小,五臟俱全來形容。我們的投資金額是$ 38,000,而內部需要全部重新整修。我們這個物業是做為一個投資法拍屋的“實戰的經驗”,以它來深入了解投資法拍屋會遇到哪些困難,操作方式,裝修還有了解HOA還有貸款上的種種過程。

我們做了哪些整修呢?

由於這物業面積不大,所以裝修成本並不需要太高,對於面積不大的公寓來說,廚房會是很重要的部分,採光也是要考慮的因素之一:

  1. 廚房是這個公寓關鍵賣點: 它占了將近大約20%的總面積,我們對整個廚房區鋪設新的瓷磚,我們選用了淡色的瓷磚將整體帶來煥然一新的感覺。
  2. 再來是安裝嵌燈(POT LIGHTS),對採光可以帶來很大的改變,我們將全部的電燈更換後,整體空間的採光改善很多。
  3. 適當運用油漆顏色的色調可以讓空間看起來更寬敞,我們選擇了一個名為“淺米黃色(BEIGE LAND)中性色調的顏色,而由於這個公寓擁有大型凸窗,本身的採光已經不錯,再配搭這個顏色後,整體視覺面積開來像是超過1000平方米尺,由此可見色彩搭調的重要性。
  4. 我們也重新鋪設衛生間的瓷磚,還有把全部的地板換成合成木板。

整修後的成果令人眼睛一亮,我們在短短的一個星期內就收到5個租客的申請表,並且成功的出租出去,最後每月的租金達到$ 750,是當時在這個社區中1房單位中達到的最高租金。

從這項目學到的經驗:

不過這個物業也並不是一帆風順,意想不到的風風雨雨。

  1. HOA的問題:這個HOA是租客自己成立的委員會,而非一般外包性的HOA,結果社區居民內自己成了不同“派系”,儘管整個公寓只有32單位,卻分了3個派系,然後成員互相與對方爭執,天天喊投票還有天天收到派系之間的漫罵郵件,很沒有效率。
  2. 冷氣設備的位置:在第二年的時候我們需要更換主機。因為位於2樓,電路距離的問題,替換該HVAC設備的成本甚至比一套房子更高,由於從室外機與室內機的距離太遠,電工不得不鋪設電纜從樓下送到樓上,成本上超過我們原先的預算。
  3. 自住和投資者的比例:這個社區的投資者超過了自住者,所有權比例為48%(房主)和52%(投資者)。在我們賣房時成為一個買方的障礙。我們的買方是買來給他兒子自住,結果無法拿到傳統式的貸款,所以他只好透過再融資(REFINANCE)他的自住房,套現後以支付現金方式完成交易,延遲了將近6個星期才完成交易。

總的來說,這是一個成功扭虧為盈的案例,還是達到完美的結束。在出售之前,每個月的租金都很不錯,每個月支付750美金在那裡住了2年,租金2年下來超過15000,最後物業的售價為$ 75,000,投資成本大約是5萬,這是一個很好的在達拉斯投資公寓的案例。

達拉斯投資者故事

這是由房地產經紀公司,Thomas Su (Team Thomas Su)團隊所收集的一系列達拉斯地產投資者的案例。本公司除了買賣外,還有裝修和物業管理的團隊。

如果您有興趣買賣達拉斯地產,請聯繫我們。

 

Thomas Su

Team Leader – Team Thomas Su

Keller Williams Realty Dallas Preston Road

Email: rwpglobal@gmail.com

達拉斯投資者故事2:一個海外留學生的投資故事

這個投資者的需求

因為一個偶然的機會認識到這位學生,他就讀德克薩斯大學達拉斯分校(UTD)。當時我們剛好有參與一些UTD的活動,然後發現到不少學生對投資地產都很有興趣,有些學生和我們說,』家裡給他們任務來買房,主要任務是買房,其次才是學習』!

海外學生和其他的投資者有不同的要求,在很多時候,他們需要在大學附近的地區購買物業,還有,不少留學生並沒有駕車,所以會尋找在大學附近大概2公里之內的地產。除了自住外,他們也會將額外的房間出租給其他學生。

安全性對該投資者最重要,所以必須為他選擇一個安全的社區,我們看了幾個附近的社區後,感覺上都不是很安全,住戶較複雜。另一個問題是:自住和和投資者的比率(Home onwers to Investor Ratio),這是很多投資人和經紀人不了解的一個數據,這會影響未來的潛力出售給自置買家的機會。如果一個公寓的投資客超過50%, 那自置買家無法申請到傳統式的HOMELOAN。

該物業的分析:

在搜索了6個社區後,我們鎖定了理查德森(RICHARDSON) 附近的3個社區,後來剛好有一套兩臥房的樓房上市,這個地區的排房很搶手,所以我們在第時間內趕過去,掛盤出來的當晚就出價給賣方。它的價格大約是$ 120,000,當時的房租已經高到每個月$ 1200,離UTD 5分鐘的車程之內。它坐落在一個安靜的社區,整個社區只有40個排屋,唯一遺憾的地方是沒有自己的車庫,但有2個指定的停車位。

我們為這個客戶選擇這物業的主要原因是:

  1. 擁有兩間臥室,一間在樓上,一間在樓下。客戶自己住在樓上,樓下的房間則是出租給另一位大學同學。
  2. 擁有2間獨立的浴室,也是一間在樓上,一間在樓下。這是很好的設計,因為許多排屋只有1個半浴室,通常排屋的衛生間放在樓上,因此變成洗澡還要跑到樓上去,相當的不便。
  3. 再來就是這排房的開放式廚房空間運用的很好,採光和這社區其他排屋的格局好很多。
  4. 這個排房還有一個小前院,因此多出了一些額外的空間,還有一個小儲藏室在前院。
  5. 最後是,僅有一面共用牆。很多排屋的設計為了省錢,都建在一排,有些排屋有3到4面的共用牆,晚上都可以聽到隔壁鄰居的聲音。

這個案例的幾個要點:

  1. 雖然排屋可能外表看起來差異不大,但裡面的格局可顯著的不同,如臥室的位置和廚房,還有特別是衛生間的設計和位置。
  2. HOA的費用:HOA類似於管理委員會。HOA在美國的權力很大,有時還會徵收特別費用。在第二年的時,我們客戶收到了一份HOA特殊徵收費通知單,每月需要多繳200塊HOA費,這個特殊的費用是用在修復這社區中的地基問題。
  3. HOA的費用是否已經覆蓋屋頂修理項目:雖然這社區的HOA費用較高,但已經這包含了保險和屋頂修理的費用,相比之下,這社區的房屋保險費用也低了很多。
  4. 自住房主:投資者比例:如之前提到的,你需要確保社區的投資者比例不要超過1半,這樣未來的自住的購房者才可以使用傳統式的房貸。

達拉斯投資者故事

這是由房地產經紀公司,Thomas Su (Team Thomas Su)團隊所收集的一系列達拉斯地產投資者的案例。本公司除了買賣外,還有裝修和物業管理的團隊。

如果您有興趣買賣達拉斯地產,請聯繫我們。

 

Thomas Su

Team Leader – Team Thomas Su

Keller Williams Realty Dallas Preston Road

Email: rwpglobal@gmail.com

達拉斯投資者故事1:Rowlett 的一個法拍屋

投資者:一個澳大利亞投資者的故事

這投資者是一位經驗較豐富的投資者,他專門尋找需要修復的房產,他的風險承受度較高,並在外州擁有投資翻修法拍屋的經驗。這是他在達拉斯地區投資組合中的其中一個房產。

這個案例:

這是一個法拍屋,且是由一個很有信譽的高檔開發商所建的房屋,因此本身所用的建築材料已經比一般的建商高價。此房空置了將近12個月還賣不出去,在達拉斯算是個很奇怪的現象。結果我們發現,賣方的經紀人糊里糊塗,當我聯絡他時,他甚至忘掉這個房子的存在,而且連門都沒上鎖,照片也只隨便拍個2張,然後連房鎖的密碼都打錯(不過沒差,因為他連門都沒上鎖!)而且網上的圖片還上下顛倒,由此可見是個很不負責的經紀人。

Rowlett 是個很多家庭想購買的地區,所以竟然會有房屋6個月以上還沒賣出更是不尋常。當我們第一次進去這屋子時,最初的反應是它的格局非常好,它面積是1900多平方英尺,擁有2間餐廳且竟然有第3間衛生間!此外,主浴室的格局也很好,後面的庭院設計也不錯,但籬笆都已經快垮了。

整修的過程

第一階段我們完成了以下的裝修:

  1. 地板:對所有的起居間和用餐區鋪設新的地板。
  2. 粉刷:粉刷整個房子的牆壁,後來我們也粉刷天花板和壁爐
  3. 籬笆:我們安裝新的籬笆,本來想說維修就好,但因為木材已經腐爛和破損過度,所以只好完全更換。
  4. 主臥衛生間的更改:我們重新設計了整個衛生間的格局,我們打開淋浴區的一面內牆,也因此拓寬了淋浴區整個空間,增加了將近50%的空間,也因此改進了整個房間的採光。
  5. 而在同年,該地區發生大暴雨,因此損害屋頂,我們申請保險索賠也更換了新的屋頂。

第二階段完成的裝修:(第二年),

  1. 廚房檯面改造,這讓整個廚房的感覺煥然一新,並且換了新的設備包括新的微波爐和爐灶,讓廚房成為這房屋的重點。租客還以為是個新建的廚房!
  2. 主臥的衛生間:重新貼瓷磚牆面磚和更換新的浴缸。
  3. 外牆的粉刷-:粉刷後的視覺上帶來很大的改變,有些租戶甚至還以為這是間新房,其實這房子是1990年落成的。

從中學習到的經驗:

  1. 水電的維修會是一個很大的隱藏成本:這投資者告訴我們,水管道可能會有很多未知的問題,特別是因為法拍屋長期沒有開水,導致土壤累積在水管中造成堵塞,投資者可以考慮下水道相機測試,來測試下水管道是否任何裂縫,並可以用高壓清洗沖的方式來沖洗掉下水道內的土壤。
  2. 法拍屋也通常意味著以前的屋主沒有好好的照顧房產,因此忽略了各類的保養項目。法拍屋經常遇到的問題包括水龍頭漏水,或是馬桶可能都需要更換,這些小的項目都需要檢查且在租客入住之前做完。此外,冷暖氣都要定期檢查和維修,如果每年經常性的維修,就像汽車一樣,其實冷暖氣的壽命可以長達15到20年。
  3. 第三個衛生間是個很大的特色。 在2000年後,已經很少有3間臥室的房子在達拉斯會擁有3間衛生間,這是對這個客戶購買該物業的主要原因之一。擁有第3間衛生間的物業售價經常可以增加2萬到3萬之間。

結果:

房產購買:$ 16萬購買

裝修成本:

階段1:$ 10,000(第1年)

階段2:$ 10,000(第2年)

現在市價:$ 230,000〜$ 240,000

租金取得:第1年:一個月$ 1400,我們接手物業管理後,先是提升房租到每個月$ 1700,之後調漲到每個月$ 1800。

達拉斯投資者故事

這是由房地產經紀公司,Thomas Su (Team Thomas Su)團隊所收集的一系列達拉斯地產投資者的案例。本公司除了買賣外,還有裝修和物業管理的團隊。

如果您有興趣買賣達拉斯地產,請聯繫我們。

Thomas Su

Team Leader – Team Thomas Su

Keller Williams Realty Dallas Preston Road

Email: rwpglobal@gmail.com

12/14 – Daily Property Ideas in Dallas Fort Worth areas

1530 Summers Dr Cedar Hills
 
Price: $158,500
Size: 1549 sqft
$ per sqft: $102.32
Condition: Recently updated
Good for: Rental
School: Good community rating / average academic
Rental Estimate: $1400 range
Quick Points:
I have several investors focusing in buying Cedar Hill and Duncanville properties. there are a lot of new developments here including many new commercial areas, rental demand is quite strong in this neighborhood. I sold a home here recently, and there were many tenants looking to lease in this area.
MLS LISTING
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6004 Meadowside Dr Arlington / $144,999
Price: $144,999
Size: 1578 sqft
$ per sqft: $91.89
Condition: Mostly updated
Good for: Rental
School: Average
Est Rent: $1400 to $1500 range is likely as this is actually 1578 sqft
Notes: Good use of space, it has separate shower area, it has dual vanity, it has dual closet, large backyard, and rooms are quite spacious, smart use of space. This area is very popular for investors.
MLS LINK
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1214 Inglewood Dr Mansfield / $240,000
Price: $240,000
Size: 2060 sqft
$ per sqft: $120.83
Condition: Good
Good for: Rental & Appreciation
School: Very Good
Est Rent: $1990 – $2100 per month, I recently leased out a property here at $1995 a month, and it was only 3 bedroom.
This property was built in 2010, already have 4 bedrooms, and have 2 living rooms, 1 of them can be used as a study which is a bonus point. The assigned elementary school is a very new school. This is near the new medical district of Mansfield, many families live here work in nearby hospital or medical related industries, new developments here are priced above $300,000.
MLS LINK
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Thomas Su – Realtor

Team Leader – Team Thomas Su

My Team Profile

http://www.teamthomassu.com/

Zillow Profile

https://www.zillow.com/myzillow/Profile.htm

Visit Our Blog

www.myusasset.com

Keller Williams Realty

Email: rwp1688@gmail.com

Daily Property Ideas – 12/12/2017

This is our new Daily Idea Alert – we will pick properties from different locations at different price points, please contact us if you wish to know more about each property or location.
IDEA 1: 1412 Highland Dr Mansfield
Click Here for Link
Listing Price: $240,000
$ per sqft: $118.34
Listing Days (CDOM): 7 days
Area: 2,028 sqft
Configuration: 4 bedrooms / 2 bathrooms / 2 garage
School Rating: Good
Rental Range: $1900 to $2100 range (Rough estimate)
Quick Points:
1. Nice community, very quiet and lots of families.
2. Good condition, wood flooring, open space concept for kitchen
3. Nice sized rooms, 1 story, roof replaced in 2016.
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IDEA 2: 1103 Stone Creek Dr Mansfield
Listing Price: $189,900
$ per sqft: $113.85
Click Here
Configuration: 3 BR / 2 Bathroom
School Rating: Good
Rental Range: $1600 to $1700
I have sold several properties in this community (assigned to Mary Jo Sheppard), I personally like the community across the Debbie Ln as this area has a large part assigned to mobile parks. This property has a more interesting layout that it has a large area upstairs, downstairs is a long shaped design.
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3. 1102 Falconcrest Ct Arlington (Already under Multiple Offer)
Listing Price: $155,000
$ per sqft: $118.41
MLS LINK
Size: 1309 sqft
Configuration: 3 BR / 2 Bathroom
School Rating: Fair
Rental Range: $1450 to $1550 range
It only lasted for 2 days and already received multiple offer, this is a very popular type of property for investors and small families. If this does come back to market, then you can consider it. Any property around $150,000 in DFW area usually last just 1 to 3 days if the condition is good.
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4. 1525 Bluff Circle Mesquite / $150,000
Listing Price: $155,000
$ per sqft: $112.44
MLS LINK
Size: 1334 sqft
Configuration: 3 BR / 2 Bathroom
School Rating: OK
Rental Range: $1450 to $1500 range
Schools are okay in this area, but Mesquite ISD has better schools but those properties tend to be higher priced. This property went through some updates including painting, some kitchen update. Mesquite is a popular area for rentals, but requires City to pass inspection prior to issue of Certificate of Occupancy. Properties typically get sold within 3 to 5 days in Mesquite if condition is good.
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Thomas Su – Realtor

Team Leader – Team Thomas Su

My Team Profile

http://www.teamthomassu.com/

Zillow Profile

https://www.zillow.com/myzillow/Profile.htm

Visit Our Blog

www.myusasset.com

Keller Williams Realty

Email: rwp1688@gmail.com

Phone: (469) 347 1839

Note: Texas Law requires all real estate licensees to give the following information about brokerage services:  Information About Brokerage Services

12/11/2017 – Recent Transactions in Mansfield TX (Ember Creek)

My client just bought several properties, his portfolio is an interesting portfolio, so let’s take a look of these 2 properties as case studies.

Property 1: 4 bedroom property in Ember Creek Estate, Mansfield

Purchase Price: Around $220,000

Condition: Updated

Improvements Made: Just some touch up walls

Rental: $1790 per month for 24 Months

Area is very desirable area, one of the most sought after communities in Mansfield area, close to shopping areas and schools. This area is primarily home owners and lots of families with kids. 4 bedroom properties continue to have much higher demand than 3 bedroom properties. It has received over 40 inquiries on this property. This was also Thanksgiving time, so it was the slowest time of season.

Little things helped: Sometimes little things really help properties to show well, we did several things to improve the overall condition even though the property is already updated.

  1. Touch up walls to same consistent color, make sure painting are painted evenly
  2. Carpet steam cleaning & carpet stretch in bedrooms – this is a good example how carpet stretch works rather than replacing the carpet
  3. Change all light bulbs to same type – not sure previous owner took out so many light bulbs, and some were broken, and this was a factor affecting showing as there were mix of color and types of light bulbs.
  4. Air duct cleaning – I recommend clients to do air duct cleaning, it will improve air flow to make HVAC more efficient, it will clean the dust and micro organisms sitting inside air ducts, and it will make the property smells better as well.

Property 2: 3 Bedroom Property in Ember Creek, Mansfield

Purchase Price: Around $190,000

Rent Achieved: $1650 a month for 24 months Lease

We also sold another property in the same subdivision – Ember Creek is really nice subdivision, with walking distance to schools and Debbie Lane make this area very popular for home buyers and investors. We like this area as it has a good ratio of home owners & renters. We typically like to have a balanced ratio – for investors, you want an area that has more home owners, and a mix of maybe 20% of households are good tenants. You don’t want to invest in area where whole entire neighborhood are renters, as that makes resale harder to home owners in future.

This is a nice 3 bedroom property, it has a huge kitchen, kitchen is also at front of property with bay windows which is an attraction for my client. Bedrooms are good sizes, it actually has a formal dining room which is rare for 3 bedroom properties these days. Overall, this property utilizes space well, not wasting too much space in hallways and unused areas.

Overall condition of property is good – just too may colors for walls, and some little plumbing repairs.

Strategies to find prospects.

We listed this property on Thanksgiving weekend, which typically is the slowest time of the year. As an agent, you have to be more proactive and take more initiatives and not just sitting idly, several tactics we used:

  1. Property Improvement: We did air duct cleaning (which makes property smells more refreshed), again, we did carpet steam cleaning.
  2. Direct marketing: We reached and extend our network to agents in Mansfield, Arlington, Burleson, Fort Worth, Grand Prairie and let them know there is a property available.
  3. Cross Marketing: As we are one of the top agents in Mansfield ISD areas, we have ever growing database of prospects / tenants seeking to lease in area, so we contacted them and see if they are interested.
  4. Lease Expiry Prospects: We also contacted prospects who had contacted us back in around this time in 2016 and check if they are in market looking for a rental property.

 

Thomas Su – Realtor

Team Leader – Thomas Su Group

www.myusasset.com 

Keller Williams Realty

Email: rwp1688@gmail.com

Phone: (469) 347 1839

 

Strategy: Portfolio approach to investment and not a yield chaser

Real estate is similar to funds, seeking growth (capital appreciation), rental yield or a balanced investor. Investors mix their assets according to their goals and asset allocation strategy.

We specialize in helping investors in creating their portfolios in U.S. assets – our approach mixes assets, and balance the risk. I have several investors who are yield chasers – and I had told them that they should not just focus on yield. Before I became a realtor, I was a REIT analyst, and I was helping clients building their portfolio through REITs. High yield REITs are often associated with higher risk such as vacancy, tenant portfolio and lease terms.

Let’s exam on Pros & Cons of a yield investor, and let me using an example to illustrate my points.

My client runs a syndicate – and they want to achieve high yield through real estate portfolio.

The strategy was to mix assets in low income neighborhoods, which produce 14% to 18% gross yield – which sounds good, but here is a list of problems they had encountered:

Problems in low-quality areas / high yield properties

  1. Attracting low quality tenants – After holding property for 3 years – 3 tenants were evicted
  2. Overcrowding – low quality tenants tend to sub-let or invite others to stay, and a 2 bedroom property ended up with 8 people living inside – and it was a mess when they moved out / evicted.
  3. Bad neighborhood – high crime rate, HVAC was stolen, cars were smashed.
  4. No home owners – this is an issue a lot of investors have neglected. You could end up in an area where it is 100% owned by investors, tenants are changing all the time, and then the area would deteriorate further and further.

My client invested in a duplex once – the whole entire neighborhood had 20 to 30 duplexes, they are completely owned by investors, and this area had a lot of issues in finding good tenants, and worst, keeping good tenants.

The neighborhood across this particular area is a mixed area – with around 50% of home owners and 50% as investment properties. They were able to charge much higher rent, and also appreciate much more.

What should investors find?

Similar to stockmarket – investors should mix with Blue Chips and “Green Chips”. I use the same analogy when I was a fund manager – you go for a stock that has dividend appreciation, but not necessary the higher yield, but in time, dividend will continue to increase, and when you hold it for term, you get much better return than high yield stock.

High Yield Range (Under $100K to $140K) – Type of Tenants

This is an interesting range – I have personally own properties in this price range. I was lucky that my tenants had been good tenants, but you can see the difference when you are listing for new tenant. You tend to get lots of inquiries, but you will get a very large volume of Section 8 tenants, and many tenants that have credit issues and who want to “work out a deal” with you. This is what they will often say “Can I call you and discuss my situation”?

Last month, I listed out a property, market price for that property is $110,000, and I listed it at $1200 for rent, I received over 30 inquiries in first 2 weeks. It sounds good, but more than 50% have credit issues or “want to work out a deal with me”, it was a very time consuming exercise – and majority of them refuse to pay application fee for me to run their tenant screen.

We ended up leasing to a young couple, who are self employed, and honest and upfront, the lesson here is “More is not really better” when comes to tenant inquiry – you want quality prospects than lots of useless inquiries.

Best Price Range (Balanced Approach).

In Dallas market – I see properties around $160,000 to $240,000 that match with these criteria. You get average from $1500 to $1,900 a month in this price range, and able to increase rent each year, and more importantly, you find much better quality tenants who have stable jobs, or just relocate here, and able to pay rent on time. These tenants also have “pride and responsibility” that they tend to keep their properties clean.

A good example is when I listed a property just purchased by my client, he paid $190,000 for the property and I leased it out at $1750 a month. I had about 10 inquiries, and 2 of them really liked the property – one proposed more security deposit, one proposed to pay rent upfront (as they just sold their home). You will hardly see this kind of prospects when you deal with tenants in lower-side of rent. In the end, my client chose the full year rent upfront client.

Higher Price Range ($1,900 to $2,200 rent range) (Also good to consider)

This is an interesting range to choose from. One example was I bought a property for my client, she paid $230,000 and put in $5000 in renovation. At $2,000 range, it was uncertain if she can attract many interests as it is Thanksgiving time.

What kind of tenants did we attract at this price range? We received 10 inquiries as well – and about 50% of them just sold their homes, and not sure where to move to next, so they have decided to rent, some had sold their homes and decided to downsize, and we also had several families to Dallas.

There is no shortage of tenants looking for properties at this price range in Dallas, most of them are very used to living in big space, majority of them had lived in homes above 3,000 sqft in the past, so they are not going to compromise their lifestyle into the 2nd category we mentioned above ($1700 to $1900 range).

One advantage in investing in this type of property is these homes tend to be larger in size (2000 to 2500 sqft), which gives them more potential to appreciate, they are often 4 bedrooms, many also come with study, and they are often located in really nice subdivisions in good school districts and neighborhoods – these homes are easier for resale in future because of location and layout.

Upper End of Market ($2500+ rent range)

The difference in rent between $250,000 and $350,000 home are not much different. Properties priced above $300,000 are more for appreciation rather than rental yield. We sold several homes around $300,000 range to investors last year, and they were able to achieve $2200 to $2400 in rent, the yield dropped to around 7% gross, however, these properties do appreciate well, on average, they appreciate at 2% more per year than smaller properties. These properties are what we consider as blue chip properties, these properties are often situated in highly desirable neighborhoods with large percentage of households home owners. I didn’t have too much trouble finding good tenants even though inquiry level was much lower, with many inquiries seeking for 6 months short term leases.

 

 

Where our clients are buying in DFW Metroplex?

We had several new clients that are investing actively in Dallas area and here is a summary of our team’s activities for September /October 2017.

Client 1: Californian Investor

Portfolio Client

This client bought 2 properties this month, he purchased a nice home in Allen, it’s a 3 bedroom and 2 bathroom, with hardwood flooring, attending Allen ISD. His investment goal was for 2 purposes – for appreciation and also as part of his 1031 Exchange. He picked this property as current price for Allen area is still cheaper than Plano and Frisco, and there is a trend that Allen will be catching up to the price level in Plano and Frisco very soon.

Client 2: Californian Investor

Portfolio Client

This client bought several properties over past 18 months already. This time, she bought into a property in Mansfield, price was around $200,000 and rent was $1800 a month, this is a 4 bedroom, 2 bathroom property. This area has very high rental demand as elementary schools in this area is highly rated, and with a lot of new companies expanding in Mansfield, Fort Worth, Arlington and Grand Prairie areas, it is very popular area for families relocating to here.

Client 3: Californian Investor

Portfolio Client

This client bought in an area called Mira Lagos subdivision. Mira Lagos subdivision is a beautiful subdivision near lake, and this area is assigned to award winning schools in Mansfield ISD. The elementary school and middle school are all within walking distance. Many homes here are sold over $300,000 or $400,000, my clients are investing in properties that are around $200,000 to $250,000, and this is often approx. 2,000 sqft, 4 bedrooms. We had been lucky to able to find a property for this client to buy, she had been looking at this area for over 7 months and finally bought one.

Client 4: Canadian Client

Portfolio Client

This Canadian client is a very active client, and we had been helping him buying properties across Dallas. He bought a property in Frisco. The property had multiple offers which is very common for Frisco, although he offered higher price initially, after inspection, I was able to go through several rounds of negotiations, and in the end, we were able to agree to lower price a lot because of timing pressure on sellers. This is an important strategy when negotiating with a seller, to understand why they are selling if they are under pressure to meet a certain closing date. Once they moved out furniture, condition of property is much better than what we had expected, the foundation issue was only a minor issue, it is close to Preston Rd, and easy access to both Plano and Frisco, it is a rare opportunity to find a property under $250,000 in Frisco.

Thomas Su

Keller Williams Realty Dallas Preston Road

18383 Preston Rd, Ste 150, Dallas, TX 75252

Email: rwpglobal@gmail.com

Phone: (469) 347 1839

我们的客户在达拉斯-沃思堡大都市的哪些地方购买?

我们有几个新的客户正在达拉斯地区积极投资,这是9,10月份我们团队活动的总结。

第一个客户:

加州投资者

这个客户本月买了两套物业,他在艾伦(Allen)购买了一栋不错的住房,3卧室,2浴室,配有硬木地板,学生就读艾伦校区(Allen ISD)。他的投资目标有两个目的 – 升值以及作为他的1031互换规则的一部分。他选择这栋物业,是因为艾伦地区目前的房价比布兰诺(Plano)和弗里斯科(Frisco)仍然要便宜,而且一个趋势是艾伦将赶上布兰诺和弗里斯科的价格水平。

第二个客户:

加州投资者

这个客户在过去18个月内已经购买了几处物业。这一次,她在曼斯菲尔德(Mansfield)买入了物业,价格在20万美元左右,租金是每月1,800美元,这是一栋4卧室、2浴室的物业。这个地区的租赁需求非常旺盛,因为本地区的小学评价很高,随着大量新公司都在曼斯菲尔德(Mansfield)、沃斯堡(Fort Worth)、阿灵顿(Arlington)和大草原地(Grand Prairie)区的扩张,本地区深受搬迁到此的家庭的欢迎。

第三个客户:

加州投资者

该客户在一个称为米拉拉各斯(Mira Lagos)细分社区进行购买。米拉拉各斯细分社区是Joel Pool 湖附近的一个美丽的细分社区,这个地区被分配到获奖的曼斯菲尔德校区。小学和中学都在步行距离之内。这里的许多房屋售价超过30万美元或40万美元,我的客户正在投资大约20万美元到25万美元的物业,通常是大约 2,000平方英尺、4卧室。我们很幸运地能够为这个客户找到她要购买的物业,她一直在这个地区寻找已超过7个月,终于买到一栋。

第四个客户:

加拿大投资者

这位加拿大客户非常活跃,我们一直帮助他在达拉斯购买物业。他在弗里斯科(Frisco)买了一栋物业。该物业有多个出价,这种情况在弗里斯科非常普遍,尽管他最初出价较高,经过检查,我能够经过几轮谈判,最终我们能够同意不少降价,因为卖家面临时机的压力。在与卖方谈判时,这是一个重要的策略,要了解如果他们面临压力需要满足某一特定交割日期而出售房屋的原因。一旦他们把家具搬出去,状况比我们预期的要好得多,屋基问题很轻微,物业靠近普雷斯顿路(Preston Rd),前往布兰诺(Plano)和弗里斯科(Frisco)都很方便。在弗里斯科找到25万美元以下的物业确是一个难得的机会。

Thomas Su

Keller Williams Realty Dallas Preston Road

18383 Preston Rd, Ste 150, Dallas, TX 75252

Email: rwpglobal@gmail.com

Phone: (469) 347 1839