Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (47132)	1/16/2006 9:55:34 AM
From: Jim McMannis	Respond to of 306849

RE:"That place is another hurricane magnet." Oh yeah! But they never hit 5 times in the same place!

To: KM who wrote (47132)	1/16/2006 10:49:32 AM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

Investing in Fort Worth, Texas (by a now Texan) I am originally from California. I have been investing in real estate here for 4 years now, as my new second career, and have an apartment complex with 152 units that I rehabbed. I want to thank all you California investors for increasing my net worth last year substantially! Talking to a broker about selling my complex, he said that 100% of all complexes, without exception, his office (Marcus and Millichap) sold were to California investors. Every single one of them. Needless to say, I never thought I would get what he is talking about I could get for my 152 units, until I started checking the prices for properties from my paper route I delivered as a kid in San Jose! Insane! 4 years ago, $30K per unit here for a class C property would be considered silly until you add the "California investor factor," that is starting to suck-up all the cheap properties. I'm looking to sell my property, but I too will now be in the same 1031 boat as everyone else, and the cheap deals are getting snapped up. I have found an apartment complex, (I actually used to own it at one time), but I need $500 K to secure it and I just bought a mobile home park so I'm looking for someone who would be willing to take a well-secured position on a note for a few months until I refinance. I am refinancing my apartments now, but by the time I pull that money out this guy might change his mind and market the property for a higher price. He agreed to sell to me for $19K a unit, but will be worth $30K with not much work and a good marketing blitz to increase occupancy. I would be willing to educate anyone who is willing to help me with information about the Texas market, and why Fort Worth, and Tarrant County generally, is the superior place to be right now. There is one big thing that not many people (actually 2 things) know about that gives Tarrant County a much brighter future than other areas in Texas. You have to live here to understand. I came here to go to school but decided to stay because I thought the cost of living in CA was too high...then! that was in 95. Since seeing the price appreciation since them- damn! __________________ Dr Dan websitetoolbox.com