5 Deadly Mistakes Not To Make When Selling Your Austin Note Paper or Real Estate Mortgage

5 Deadly Mistakes Not To Make When Selling Your Austin Note Paper or Real Estate Mortgage

Many Austin Texas real estate sellers over past years have been forced to carry back notes on their properties as the availability of most types of conventional financing has dried up.  If you are a note holder in Austin, Texas and want to sell your real estate note, paper or mortgage, you should be aware of the 5 deadly mistakes to avoid when trying to sell your Austin note, paper or real estate mortgage.

5 Deadly Mistakes:

1) Contracting With An Intermediary – Be sure your buyer is really the buyer and not just a note “broker” looking for a commission. Mortgage brokers can be helpful, get referrals, see #3 below.

2) Failure To Get Proof of Funds – Do your due diligence on your buyer by requiring written proof of funds from a third party (bank or brokerage account) to ensure that your buyer has funds that are liquid.

3) Failure To Get References – If your note buyer is the real deal they should be willing and able to give you at least two references of business people you can contact. Preferably other note buyers that have done business with them recently.

4) Selling Too Cheap – Be sure to get a third party valuation of your note so you know what it’s worth before you sell it. Many mortgage buyers will “low ball” the value of your note so they can get a better price from you.

5) Not Documenting the Deal Properly – Get a contract when you sell your note that lays out all the terms and conditions concerning recourse, what happens if payments stop, and other important terms. We recommend hiring a real estate attorney familiar with the process to do the paperwork.

Conclusion; Avoid these deadly mistakes and consult someone who knows notes, like Bruce Avellanet, who buys notes in Austin Texas as well as other metro areas of Texas and buys other paper and mortgages. 5 Deadly Mistakes Not To Make When Trying To Sell Your Austin Note Paper or Real Estate Mortgage. We also develop commercial multifamily properties that pay a preferred rate to our private money investors and are 100% backed by FHA. These are market rate “A” class properties. Commercial paper & multi family real estate guru Bob Leonetti endorses Austin paper investor Bruce Avellanet CLICK HERE NOW FOR VIDEO. P.S. Call us NOW with your questions: (214) 914-1794 direct or email: Bruce@XPQTinvestments.com We pay referrals on properties and pay above average rates of return to our private money investors 100% backed by real estate.

http://www.myhousedeals.com/xpqt <===CLICK HERE NOW! (free access to motivated sellers of single family homes, we really do close several single family deals from here every month…)

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10 Deadly Mistakes Plano Texas 75093 75024 75025 Multi-Family Property Owners Should Avoid

10 Deadly Mistakes Plano Texas 75093 75024 75025 MultiFamily Property Owners Should Avoid

As an experienced Plano Texas 75093 75024 75025 Multi Family Real Estate Investor, I have made many mistakes and learned a great deal about how to do things the wrong way, and the right way, and everything in between, when it comes to investing in the Plano Texas 75093 75024 75025 area commercial real estate, especially multifamily apartment units.

That’s why I wrote this article on the 10 Deadly Mistakes Plano Texas 75093 75024 75025 Multi-Family Property Owners Should Avoid, to help you learn from my experience and hopefully help you as an apartment or multi-family real estate owner avoid some of the costly mistakes I’ve made and already learned from.

So, here they are, if you own multi-family real estate in the Plano Texas 75093 75024 75025 area, you should definitely NOT make any of the following mistakes:

1. Failure to Properly Screen Tenants:

Before you agree to lease an apartment unit to a new prospective Plano Texas 75093 75024 75025 area multi family tenant, be sure to check the following:

* Credit History (if they have EVER written a hot check, they pay with money orders ONLY, no exceptions)

* References (get 3 work or character references, preferrably a previous landlord)

* Conduct a criminal background check for crimes against persons: arson, assault, sexual assault, murder, armed robbery, aggravated robbery, child abuse, etc. (If they have any of these you can legally refuse to lease to them or you can choose not to accept their rent and evict them-in Texas if you use the correct lease agreement.)

2. Failure To Document Your Lease Arrangements In Writing.

Always have a written rental agreement setting out all the terms by which you are renting your Plano area multi family property to your tenant. In Plano, we recommend the TAA (Texas Apartment Association) standard lease with the “Criminal Addendum” (which allows you to evict someone if you find out they are a felon)

3. Failure to Handle MultiFamily Property Security Deposits Properly.

Establish a good system for handling tenant security deposits. Your security deposit policy should be clearly spelled out in the lease agreement that each and every occupant age 18 and older must sign.

4. Failure to Properly Inspect and Document PreMove-In Condition of Your Plano MultiFamily Units.

Hold a formal meeting to physically inspect the premises, document the condition and any issues requiring repair and have the tenant sign a form stating that the property is being received in new, like-new, good or whatever condition the unit being rented is currently in.

5. Failure to Timely Make Repairs To Your Plano Texas 75093 75024 75025 Multi-Family Units.

Inspect all units on a regular basis and make needed repairs on a timely basis. Happy tenants pay on time and stay with you longer. If tenants request repairs to their premises when things go wrong, you should have a full time handyman or available team who can handle repair requests in a timely manner (“full time” depends on the number of units).

6. Failure to Provide Secure Premises.

If your Plano area multifamily property has an electronic access gate, make sure it is in good working order and only your tenants and appropriate employees have access devices (whether cards or tags). Make sure that the security lights, breezeway lights, and parking area lights are in good working order. Also, keep any trees and bushes trimmed to eliminate possible hiding places for would be “bad guys”. Develop a good working relationship with the NPO (neighborhood police officer) that is responsible for your area. Report any illegal or suspicious activities immediately and train all your employees to do the same. The goal is to build a sense of “community” by providing a safe and desirable place to live with your Plano Texas 75093 75024 75025 area multi-family properties.

7. Failure to Provide Tenants with Proper Notice Before Entering Rented Premises.

The fastest way to build mistrust with your tenants is to enter their apartment without notice even though you have the right to do so at any reasonable time. Be sure to notify your tenants when you’re going to enter or when you entered to change a filter or do other routine maintenance on your Dallas Ft.Worth Texas area apartments. It’s a good practice to provide them with at least 24 hours written notice of your intent to enter the premises.

8. Failure to Properly Supervise Property Managers, Handymen, Leasing Agents and Staff.

A complete criminal background check on all prospective property managers and staff prior to making a hiring decision should be completed. It’s a good practice to provide tenants with a mechanism to anonymously report potential problems. Maintaining a procedure for addressing any tenant complaints in a timely manner will help keep your Plano Texas 75093 75024 75025 multi-family tenants happy, paying on time, long term tenants.

9. Failure to Maintain Proper Insurance.

It should go without saying that it is imperative that you maintain adequate liability and property insurance on your Dallas area multi family units. A great insurance agent should be part of your team. Review your coverage at least annually.

10. Failure to Address and Resolve Tenant Disputes In a Timely Manner.

Have a procedure for tenants to communicate their complaints to property management and a mechanism for addressing any such complaints in a timely manner is just good business. Resolve these issues as soon as possible and as fairly as possible.

About XPQT Investments, LLC, Bruce Avellanet, Managing Principal; Plano Texas 75093 75024 75025 Multi-Family Property Investor

We are active real estate investors always looking for multi-family properties to acquire in the Dallas Ft.Worth Texas Metroplex. We also develop commercial multifamily units in the DFW Metroplex area (and most metro areas of Texas) giving our investors an aggressive preferred return that is 100% guaranteed by FHA. These are market rate, “A” class developments. Call us for details if you are an interested investor. CONTACT US HERE: (214) 914-1794 or email: Bruce@XPQTinvestments.com.

If you are a “burnt out” landlord or just tired of “tenants, toilets, and trouble” or know of someone who owns a multi family property in any of these areas who may want to sell, please let them know that we would like to speak with them about the possibility of easing their pain by buying their property. 10 Deadly Mistakes Plano Texas 75093 75024 75025 Multi-Family Property Owners Should Avoid

We pay finders fees for qualified referrals or if you are an interested investor: (214) 914-1794 or email: Bruce@XPQTinvestments.com. Please check our our websites below:

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http://www.myhousedeals.com/xpqt (free access to motivated sellers of single family homes, we really do close several single family deals from here every month…)

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How To Owner Finance A Home in DFW, Texas With No Credit

How To Owner Finance A Home in DFW, Texas With No Credit

I don’t like seeing people flushing their money down the toilet  each month paying rent.  That’s why I show people how to own their own home by Owner Finance in  Dallas, Texas with absolutely no credit check.  If you are tired of renting and you are ready to become a homeowner then you are in the right place.

What Is Owner (seller) Financing?

Here are the basics of Dallas Owner Finance Property:

Owner financing in Dallas, Texas, occurs when the owner of a home finances all or a portion the sale of his or her own property.  The definition of this from ads you’ve seen is “Owner Finance”, “Owner Will Carry” or “Seller Financing”.  This means that the current owner of the property will, in effect, act as a bank and loan the purchaser part or all of the money needed to purchase the owner’s property.  Most hard working people will be able to get into our Dallas owner financed homes as long as they have a stable job, the required down payment, closing costs and are comfortable with the monthly payment.

As sellers of Dallas Seller Financed Properties, we like the idea that we can receive a monthly income from a property even after we have sold it – and no longer have to worry about repairing leaky roofs or replacing broken water heaters  or fixing toilets….and that’s just a few of the reasons we are willing to seller finance in Dallas, Texas!

To protect ourselves with our Dallas owner financed property, we require that our buyers make monthly payments into an account held by our mortgage servicing company.  We also require the borrower to execute a “deed in lieu” or ” Quit Claim Deed” with instructions that if a payment is late by a certain number of days then the escrow officer will automatically file the “Deed In Lieu” or “Quit Claim Deed”,  restoring the property to the former owner instantly.   If  this were to happen the buyer would not only lose title to the property but would also lose any and all payments already made on the property. This is a powerful incentive for the buyer to make all payments in a timely manner on their Dallas area seller finance notes.  (And also reason why investors/buyers are willing to provide housing.)

Another reason, perhaps, why some homeowners agree to carry an owner financed note on their Dallas properties is to increase the number of  potential buyers for their property.  This means that a larger number of potential buyers are in the area since a perfect credit score is no longer required.

While the Dallas owner finance seller of a property may charge the same interest rate or more than a bank or other financial institution would charge, it is sometimes possible for a buyer to actually end up paying a slightly lower interest rate if the seller finances the sale since more aspects of the sale are open to negotiation than may be possible when dealing with a typical bank or mortgage company.

About XPQT Investments, LLC, Bruce Avellanet, Managing Principal; How To Owner Finance A Home in DFW, Texas With No Credit;  We are active real estate investors always looking for single family and multi-family properties to acquire in the Dallas Ft.Worth Texas Metroplex.  We also develop commercial multifamily units in the DFW Metroplex area (and most metro areas of Texas) giving our investors an aggressive preferred return that is 100% guaranteed by FHA.  These are market rate, “A” class developments.  Call us for details if you are an interested investor:  (214) 914-1794 or email:  Bruce@XPQTinvestments.com

If you are a “burnt out” landlord or just tired of “tenants, toilets, and trouble”…

or know of someone who owns  single-family or multi family properties in any of these areas who may want to sell, please let them know that we would like to speak with them about the possibility of easing their pain by buying their property.  How To Owner Finance A Home in DFW, Texas With No Credit

We pay finders fees for qualified referrals or if you are an interested investor: Call us (214) 914-1794 or email: Bruce@XPQTinvestments.com  Please check our our websites below:

FOLLOW US ON TWITTER:  http://twitter.com/avebru01

http://www.mywebsafety.com/bruce Protect your teens from the #1 killer of teens

http://www.myhousedeals.com/xpqt (free access to motivated sellers of single family homes, we really do close several single family deals from here every month…)

http://atxhomebuyerforyou.wordpress.com/2009/04/06/dallas-real-estate-owner-financing-your-dallas-home/ (Our friends at P.S.E. Real Estate are experts in Dallas Owner Finance Real Estate)

7 Reasons To Invest In North Texas MultiFamily Real Estate

Reasons To Invest In North Texas  Multifamily Real Estate

In the last quarter century, North Texas commercial property investors have significantly increased their ownership of multifamily units.  During this period, the multi family sector established itself as having the best track record for risk-adjusted returns and recognized diversification benefits for real estate portfolios.  North Texas Multi-Family real estate also presents investors with a wide range of choices in terms of product, location and convenient debt financing, allowing them to pursue a wide variety of advantageous investment strategies.  And of course, people have to live somewhere, right?

1.  North Texas commercial multifamily units have a long track record of having the highest risk-adjusted investment returns compared to other property types.  The sector has proven to be most resilient during economic downturns, delivering superior returns during recessionary periods, and exceptional returns during inflationary periods.

2.  Texas commercial multi family units have the most efficient cash distribution, due to low capital expenditures and technical improvements.  For decades now, North Texas multi-family units have been low tech & high return on investment.  Despite the current trend of  “bank cranial rectal inversion” that is plaguing over 2/3 of all banks right now!

3.  North Texas commercial multi-family properties have a lower cost of capital and wider availability of debt capital; multifamily investments can support more debt with the same level of risk. That is, if your bank is not suffering from “bank cranial rectal inversion”.

4.  Texas multifamily properties operate… in a favorable, transparent, and market-driven regulatory and taxation environment.  In addition, these properties generally have shorter leases than other property types, allowing them to adjust more quickly to changing market environments.

5.  North Texas multi family properties vary widely in terms of age, size, quality, and location, creating a broad spectrum of opportunities and possible investment strategies, thereby providing greater liquidity for the savvy private money commercial investor.

6.  People have to live somewhere, right? North Texas multi-family real estate market fundamentals are expected to remain positive on a cumulative basis over the foreseeable future due to increasing demand due to rising employment (there are still 350 new jobs per day in the Dallas/Ft. Worth, Texas area in 2008 and that is expected to continue thru 2009 and, at least 475 people per day moving into the DFW area Metroplex) and the supply of new homes is expected to increase only slightly as local and national banks continue to have “bank cranial rectal inversion” in regards to funding local builders and investors.  In the mean time, conditions for rent and revenue growth for most multifamily properties in North Texas continues to grow.  What other businesses…other than the U.S. Government, are growing at unprecedented rates right now???

7.  North Texas multi family properties are still under-weighted in institutional real estate portfolios.  Only those “in the know” and savvy investors are pouring private money into North Texas multi-family units.  With huge government spending, inflation is definitely going to follow. When that happens, your North Texas and especially your DFW area multi-family real estate will explode in value! People have to live somewhere, right?  If they can’t afford houses, they’ll be renting YOUR North Texas Multifamily units!  7 Reasons To Invest In North Texas MultiFamily Real Estate

More about XPQT Investments, LLC and Bruce Avellanet, Managing Partner:  We develop and manage commercial multi family units in growth areas and pay our investors above average returns on their private money (has YOUR 401(k) become a 201(k)? or worse, you left it in the market?!?). Our new projects are “A” class, market rate commercial multfamily units that are 100% backed by FHA.  Call for more info:  (214) 914-1794  or email us at:  Bruce@XPQTinvestments.com

FOLLOW US ON TWITTER:  http://twitter.com/avebru01

Protect your teens from the #1 killer of teens in autos:   http://www.mywebsafety.com/bruce

Never cold call again (no matter what you’re selling!):  http://XPQT.ibuzzpro.com

See our other REAL ESTATE blogs here

11 Deadly Mistakes North Oak Cliff Dallas Texas 75208 Multi-Family Property Owners Should Avoid

11 Deadly Mistakes North Oak Cliff Multi-Family Property Owners Should Avoid

As an experienced North Oak Cliff Dallas Texas 75208 Multi Family Real Estate Investor, I have made many mistakes and learned a great deal about how to do things the wrong way, and the right way, when it comes to investing in the North Oak Cliff Dallas Texas 75208 area commercial real estate, especially multifamily apartment units. This should keep you from stepping on too many “landmines”.

I wrote this article on the 11 Deadly Mistakes North Oak Cliff Dallas Texas 75208 Multi-Family Property Owners Should Avoid, to help you learn from my experience and hopefully help you as an apartment or multi-family real estate owner avoid some of the costly mistakes I’ve made and help you avoid the “tuition” that we had to pay to learn.

So, here they are, if you own multi-family real estate in the North Oak Cliff Dallas Texas 75208  area, you should definitely NOT make any of the following mistakes:

1. Failure to Properly Screen Tenants:

Before you agree to lease an apartment unit to a new prospective NORTH North Oak Cliff Dallas Texas 75208  area multi family tenant, be sure to check the following:

* Rental History (if they rented from the last place for less than 2 years, they are not likely to stay long with you)

* Credit History (if they have EVER written a hot check, they pay with money orders ONLY, no exceptions)

* References (get 3 work or character references, preferrably a previous landlord)

* Conduct a criminal background check for crimes against persons:  arson, assault, sexual assault, murder, armed robbery, aggravated robbery, child abuse, etc. (If they have any of these you can legally refuse to lease to them or you can choose not to accept their rent and evict them-in Texas if you use the correct lease agreement.)

2. Failure To Use a Standard Lease Document.

Always have a written rental agreement setting out all the terms by which you are renting your North Oak Cliff area multi family property to your tenant. In North Oak Cliff  we recommend the TAA (Texas Apartment Association) standard lease with the “Criminal Addendum” (which allows you to evict someone if you find out they are a felon)

3. Failure to Handle MultiFamily Property Security Deposits Properly.

Establish a good system for handling tenant security deposits. Your security deposit policy should be clearly spelled out in the lease agreement that each and every occupant age 18 and older must sign.

4. Failure to Properly Inspect and Document PreMove-In Condition of Your Oak Cliff MultiFamily Units.

Hold a formal meeting to physically inspect the premises, document the condition and any issues requiring repair and have the tenant sign a form stating that the property is being received in new, like-new, good or whatever condition the unit being rented is currently in. Include in your lease the right to inspect the property MONTHLY. Even a small water leak can cost you big time if you don’t find it for months.  Tenants are unlikely to report some very minor items that can add up.

5. Failure to Timely Make Repairs To Your North Oak Cliff Dallas Texas 75208 Multi-Family Units.

Inspect all units on a regular basis and make needed repairs on a timely basis (see above). Happy tenants pay on time and stay with you longer.  If tenants request repairs to their premises when things go wrong, you should have a full time handyman or available team who can handle repair requests in a timely manner (“full time” depends on the number of units).

6. Failure to Provide Secure Premises.

If your North Oak Cliff area multifamily property has an electronic access gate, make sure it is in good working order and only your tenants and appropriate employees have access devices (whether cards or tags).  Make sure that the security lights, breezeway lights, and parking area lights are in good working order.  Also, keep any trees and bushes trimmed to eliminate possible hiding places for would be “bad guys”.  Develop a good working relationship with the NPO (neighborhood police officer) that is resonsible for your area.  You would be amazed how fast they will respond to a 911 call if you let them know that you’re trying to clean up the neighborhood and make it a model property. Report any illegal or suspicious activities immediately and train all your employees to do the same.  The goal is to build a sense of  “community” by providing a safe and desirable place to live with your North Oak Cliff Dallas Texas 75208 area multi-family properties.

7. Failure to Provide Tenants with Proper Notice Before Entering Rented Premises.

The fastest way to build mistrust with your tenants is to enter their apartment without notice even though you have the right to do so at any reasonable time.  Be sure to notify your tenants when you’re going to enter or when you entered to change a filter or do other routine maintenance on your Dallas Ft.Worth Texas area apartments.  It’s a good practice to provide them with at least 24 hours written notice of your intent to enter the premises. Inspections should be done monthly to avoid costly deferred maintenance.

8. Failure to Properly Disclose Existing Environmental Hazards.

The best policy with respect to any environmental hazards (environmental, industrial, chemical, etc.) that may exist on your multi-family real estate is to disclose them to prospective tenants in writing ahead of time and include the fact of the disclosure in any lease or rental agreement.  Not a very common item for North Oak Cliff  area properties except for possible flood planes near creeks or rivers that flood from time to time.

9. Failure to Properly Supervise Property Managers, Hanyman, Leasing Agents and Staff.

A complete criminal background check on all prospective property managers and staff prior to making a hiring decision should be completed.  It’s a good practice to provide tenants with a mechanism to anonymously report potential problems.   Maintaining a procedure for addressing any tenant complaints in a timely manner will help keep your North Oak Cliff Dallas Texas 75208  multi-family tenants happy, paying on time, long term tenants.

10. Failure to Maintain Proper Insurance.

It should go without saying that it is imperative that you maintain adequate liability and property insurance on your Dallas area multi family units.  A great insurance agent should be part of your team. Review your coverage on a regular basis.

11. Failure to Address and Resolve Tenant Disputes In a Timely Manner.

Have a procedure for handling tenant complaints to property management and a mechanism for addressing any such complaints in a timely manner is just good business.  Resolve these issues as soon as possible and as fairly as possible.

About XPQT Investments, LLC, Bruce Avellanet, Managing Principal;  North Oak Cliff Dallas Texas 75208  Multi-Family Property Investor

We are active real estate investors always looking for multi-family properties to acquire in the Dallas Ft.Worth Texas Metroplex.  We also develop commercial multifamily units in the DFW Metroplex area (and most metro areas of Texas) giving our private investors an aggressive preferred return that is 100% backed by FHA.  These are market rate, “A” class developments. Call us for details if you are an interested investor: (214) 914-1794 or email: Bruce@XPQTinvestments.com.

If you are a “burnt out” landlord or just tired of “tenants, toilets, and trouble” or know of someone who owns a multi family property in any of these areas who may want to sell, please let them know that we would like to speak with them about the possibility of buying their property and easing their pain.  11 Deadly Mistakes North Oak Cliff Dallas Texas 75208 Multi-Family Property Owners Should Avoid

We pay finders fees for qualified referrals or if you are an interested private money investor: (214) 914-1794 or email: Bruce@XPQTinvestments.com. Please check our our websites below:

P.S.  When would NOW be good time to call us?  214-914-1794 direct   or email:  Bruce@xpqtinvestments.com

FOLLOW US ON TWITTER:  http://twitter.com/avebru01

Never cold call again: http://XPQT.ibuzzpro.com

Protect your teens from the #1 killer of teen drivers:  http://www.mywebsafety.com/bruce

http://www.myhousedeals.com/xpqt (free access to motivated sellers of single family homes, we really do close several single family deals from here every month…)

11 Deadly Mistakes DFW Texas Multi-Family Real Estate Owners Should Avoid

11 Deadly Mistakes DFW Texas Multi-Family Property Owners Should Avoid

As an experienced DFW (Dallas-Ft. Worth area) Texas Multi Family Real Estate Investor, I have made many mistakes and learned a great deal about how to do things the wrong way, and the right way, when it comes to investing in the DFW Texas metroplex area commercial real estate, especially multifamily apartment units.

That’s why I wrote this article on the 11 Deadly Mistakes DFW Texas Multi-Family Property Owners Should Avoid, to help you learn from my experience and hopefully help you as an apartment or multi-family real estate owner avoid some of the costly mistakes I’ve made and already learned from.

So, here they are, if you own multi family real estate in the DFW area, you should definitely NOT make any of the following mistakes:

1. Failure to Properly Screen Tenants:

Before you agree to lease an apartment unit to a new prospective DFW area multi family tenant, be sure to check the following:

* Credit History (if they have EVER written a hot check, they pay with money orders ONLY, no exceptions)

* References (get 3 work or character references, preferrably a previous landlord)

* Conduct a criminal background check for crimes against persons:  arson, assault, sexual assault, murder, armed robbery, aggravated robbery, child abuse, etc. (If they have any of these you can legally refuse to lease to them or you can choose not to accept their rent and evict them-in Texas if you use the correct lease agreement.)

2. Failure To Document Your Lease Arrangements In Writing.

Always have a written rental agreement setting out all the terms by which you are renting your DFW Texas area multi family property to your tenant. In DFW Texas, we recommend the TAA (Texas Apartment Association) standard lease with the “Criminal Addendum” (which allows you to evict someone if you find out they are a felon)

3. Failure to Handle MultiFamily Property Security Deposits Properly.

Establish a good system for handling tenant security deposits. Your security deposit policy should be clearly spelled out in the lease agreement that each and every occupant age 18 and older must sign.

4. Failure to Properly Inspect and Document PreMove-In Condition of Your DFW MultiFamily Units.

Hold a formal meeting to physically inspect the premises, document the condition and any issues requiring repair and have the tenant sign a form stating that the property is being received in new, like-new, good or whatever condition the unit being rented is currently in.

5. Failure to Timely Make Repairs To Your Dallas Ft. Worth Texas Multi-Family Units.

Inspect all units on a regular basis and make needed repairs on a timely basis. Happy tenants pay on time and stay with you longer.  If tenants request repairs to their premises when things go wrong, you should have a full time handyman or available team who can handle repair requests in a timely manner (“full time” depends on the number of units).

6. Failure to Provide Secure Premises.

If your DFW area multifamily property has an electronic access gate, make sure it is in good working order and only your tenants and appropriate employees have access devices (whether cards or tags).  Make sure that the security lights, breezeway lights, and parking area lights are in good working order.  Also, keep any trees and bushes trimmed to eliminate possible hiding places for would be “bad guys”.  Develop a good working relationship with the NPO (neighborhood police officer) that is resonsible for your area.  Report any illegal or suspicious activities immediately and train all your employees to do the same.  The goal is to build a sense of  “community” by providing a safe and desirable place to live with your DFW Texas area multi-family properties.

7. Failure to Provide Your DFW area Multi Family Tenant with Proper Notice Before Entering Rented Premises.

The fastest way to build mistrust with your tenants is to enter their apartment without notice even though you have the right to do so at any reasonable time.  Be sure to notify your tenants when you’re going to enter or when you entered to change a filter or do other routine maintenance on your Dallas Ft.Worth Texas area apartments.  It’s a good practice to provide them with at least 24 hours written notice of your intent to enter the premises.  The Texas Apartment Association standard lease has some of this language, you should consult your real estate attorney.

8. Failure to Properly Disclose Existing Environmental Hazards.

The best policy with respect to any environmental hazards (environmental, industrial, chemical, etc.) that may exist on your multi-family real estate is to disclose them to prospective tenants in writing ahead of time and include the fact of the disclosure in any lease or rental agreement.  Not a very common item for DFW area properties except for possible flood planes near creeks or rivers that flood from time to time.

9. Failure to Properly Supervise Property Managers, Hanyman, Leasing Agents and Staff.

A complete criminal background check on all prospective property managers and staff prior to making a hiring decision should be completed.  It’s a good practice to provide tenants with a mechanism to anonymously report potential problems.   Maintaining a procedure for addressing any tenant complaints in a timely manner will help keep your DFW multi-family tenants happy, paying on time, long term tenants.

10. Failure to Maintain Proper Insurance.

It should go without saying that it is imperative that you maintain adequate liability and property insurance on your Dallas Ft.Worth Texas area multi family units.  A great insurance agent should be part of your team. Review your coverage at least annually.  Contact the Texas Apartment Association or your local apartment managers association for referrals to exceptional agents.

11. Failure to Address and Resolve Tenant Disputes In a Timely Manner.

Have a procedure for tenants to communicate their complaints to property management and a mechanism for addressing any such complaints in a timely manner is just good business.  Resolve these issues as soon as possible and as fairly as possible.

About XPQT Investments, LLC, Bruce Avellanet, Managing Principal;  DFW Texas Multi-Family Property Investor

We are active real estate investors always looking for multi-family properties to acquire in the Dallas Ft.Worth Texas Metroplex.  We also develop commercial multifamily units in the DFW area (and most metro areas of Texas) giving our private money investors an aggressive preferred return that is 100% backed by FHA.  These are market rate, “A” class developments. Call us for details if you are an interested private money investor: (214) 914-1794 or email: Bruce@XPQTinvestments.com.

If you are a “burnt out” landlord or just tired of “tenants, toilets, and trouble” or know of someone who owns a multi family property in any of these areas who may want to sell, please let them know that we would like to speak with them about the possibility of easing their pain by buying their property.  11 Deadly Mistakes DFW Texas Multi-Family Real Estate Owners Should Avoid.

We pay finders fees for qualified referrals or if you are an interested investor: (214) 914-1794 or email: Bruce@XPQTinvestments.com. Please check our our websites below:

P.S.  When would NOW be good time to call us?  214-914-1794 direct   or email:  Bruce@xpqtinvestments.com

http://www.myhousedeals.com/xpqt (free access to motivated sellers of single family homes, we really do close several single family deals from here every month…)

http://www.MyWebSafety.com/Bruce Protect your family from online PREDATORS!

Follow us on Twitter:  http://twitter.com/avebru01

Bruce Avellanet Buys Dallas-Ft. Worth Texas Multi-Family Real Estate

Dallas & Ft. Worth, Texas Multi Family Property Buyer

XPQT Investments, LLC is a  serious and active buyer for multi-family real estate in Dallas & Ft. Worth Texas and to provide other multi family real estate investors in Addison, Arlington, Carrollton, Grand Prairie, Dallas, Ft. Worth, Richarson, Garland, Mesquite, Denton, Plano, Farmers Branch, and the greater Houston, Austin and San Antonio areas with information about purchasing, selling, operating, and repositioning apartments, duplexes and other multifamily B & C class  properties.

We are active investors and passionate real estate professionals nationally, mostly buying in Texas metro areas for many years and we always welcome the opportunity to network and connect with other real estate investors. Please leave any comments here on this blog if you have any questions, thoughts or comments on how we can make this a more valuable place for all Texas multi-family real estate investors and owners.  We do have seasoned developers, investors, private money sources, engineers, MAI appraisers, real estate attorneys, CCIM’s, and all the rest on our team. Call us to figure out fast if it is a “deal or NO deal”.  Bruce Avellanet Buys Dallas & Ft. Worth Texas MultiFamily Real Estate.  We also develop commercial multi-family properties that pay a preferred rate to our private money investors and are 100% backed by FHA.  These are market rate “A” class properties.  Multi Family real estate guru Bob Leonetti endorses Bruce Avellanet:  CLICK HERE FOR VIDEO

P.S.  When would NOW be good time to call us?  214-914-1794 direct   or email:  Bruce@xpqtinvestments.com We pay referrals for property and are always ready to pay above average returns for your private money investments if you joint venture with us.

Follow us on Twitter: http://twitter.com/avebru01

http://www.myhousedeals.com/xpqt (free access to motivated sellers of single family homes, we really do close several single family deals from here every month…)

http://www.MyWebSafety.com/Bruce Protect your family from online PREDATORS!

3 Ways To Sell Your Dallas Note to a Qualified Dallas Note Buyer

The Best Ways To Sell Your Dallas, Texas Mortgage To A Qualified Note Buyer

If you have a real estate note that you want to sell, there is no better place than Dallas Note Buyer, Bruce Avellanet. Yes, that’s me, I’m a Dallas Note Buyer, but more than just buying notes and selling and investing in Dallas notes, paper, mortgages and real estate, I also want to share my knowledge and experience with others so they can benefit from my experience. That’s why I wanted to post  “3 Ways To Sell Your Dallas Note to a Qualified Dallas Note Buyer.”

If you are a note holder, chances are you might like to turn the paper you have into cold hard cash at some point, so you can use the money now to pay for something you need or want, pay for your kid’s college education, pay medical expenses, use for a down payment on a new home or even just take a great vacation.

We help people realize their goals all the time as a Dallas mortgage buyer.  But, many people who hold Dallas notes on property they have don’t realize exactly how they can sell their note and turn it into cash. That’s why I wrote this article.

There are 3 ways to sell your Dallas area note to a qualified buyer and turn that paper into cash:

1. Sell It Outright – This is where you choose to sell the whole note outright for cash. You give the note to a mortgage buyer like me and you get cash in return.  Now you have the cash but no longer have the note nor the cash flow from it.

2. Sell a Partial – This is where you choose to sell off part of the note to a note investor, so that you can just get the specific amount of money you need right now for a specific need or purpose. This has the advantage of generating cash for your immediate need, while preserving the additional cash flow of interest payments for you later. For example, you have a $25,000 note but you only need $12,000 for something right now, so you sell off the next several payments you are to receive on the note, and then after that, you start receiving those payments again. (Exact amounts to be determined depending on all the other variables: Value of Property, Present value of note, payment amount, interest rate, number of payments remaining, and value of note for sale.)

3. Trade It – This is where you trade the note for something you want other than cash to meet the need you have currently. Sometimes you can get a higher value for your note by trading it for the thing you want as opposed to selling it outright for cash. There are many people who may have things you want or need that they want to sell, but they know that they won’t get as much for them by selling them as they will if they can trade them for something else. You can use this to your advantage by negotiating a trade of your mortgage for whatever you want and end up getting more value for it than you would if you had simply sold the note outright for cash.  3 Ways To Sell Your Dallas Note to a Qualified Dallas Note Buyer.  Note buying and commercial real estate guru Bob Leonetti endorses Dallas Mortgage Investor Bruce Avellanet CLICK HERE NOW FOR VIDEO.

This is just the first of a series of articles and posts I plan to publish on these topics. We also develop commercial multi-family properties that pay a preferred rate to our private money investors and are 100% backed by FHA.  These are market rate “A” class properties. We pay referrals for properties.

We also pay above average returns to our private money investors that are 100% backed by real estate.

P.S. Call us NOW to get your questions answered:  214-914-1794 direct,

email us at: Bruce@XPQTinvestments.com

Get 100’s of FREE motivated sellers each & every month (we close several from this source every month)

CLICK HERE NOW for 30 day FREE TRIAL===> http://www.myhousedeals.com/xpqt

Protect your family from ONLINE PREDATORS====> http://www.mywebsafety.com/bruce

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10 Tips For Note Sellers On Getting The Most For Your Note From Dallas Note Investor Bruce Avellanet

10 Tips For Getting The Most For Your Note

If you are going to sell your note, there are several tips you should know before you do.  As a Dallas, Texas note investor, I’m going to give some tips to mortgage sellers to help them know how to get the most money for their notes.

First, you should have your note in writing. I know this sounds simple, but some people just are too trusting and think that buyers will pay if they say they will pay. If your mortgage is not in writing, then you simply can’t find a serious investor who will pay you for it.

Second, your note should have all the terms stated in clear, unambiguous language. This means you should be able to look at the face of the mortgage and know when it started, when it ends, what the interest rate is, what the monthly payment is, and what specific real estate secures it, as well as what happens in the event of a default by the person obligated to pay the note, and of course, who that person is and their contact information.

Third, your note should be recorded at the County Recorder’s Office for the county in which the property securing it is located. To verify this, you should look the mortgage up at the County Recorder’s office public records.

Fourth, all payments on the note should be current so that the note is in good standing with all payments being made when they should be made. (Unless you’re selling a “non-performing” note.)

Fifth, you should have documentation showing that all the payments were made with copies of canceled checks and a ledger showing when each payment was made.

Sixth, you should be sure that the mortgage (is seasoned) has been in existence with payments timely made for a period of at least a year and preferably longer. 18 months is preferable and you’ll get a better price.

Seventh, you should have a copy of a current appraisal for the real estate securing the note. If you cannot afford or access a formal appraisal then a broker’s price opinion or BPO from a reputable real estate broker may suffice, though an appraisal is certainly better.

Eighth, you should have pictures of the property so your note buyer can see that it is in good condition and needs no repairs or can easily determine how much those repairs are likely to cost. (There is no such thing as a “perfect” house.)

Ninth, the person making the payments (obligor or mortgagor) on the note should be accessible so that you have the latest contact information on them in case they have to be contacted regarding payment address changes and similar issues.

Tenth, if you have a copy of the person who is obligated to make the payments on the notes credit report (obligor’s credit score should be 620 minimum, we prefer 680+ FICO) this helps assure the buyer that the payor is not in financial distress and will be likely to be able to continue making payments on the mortgage. (Unless you’re selling non-performing notes.)

Conclusion

If you follow these ten steps and tips on how to get the most money for your note, you will be able to receive the highest value for it when you sell.

I hope these tips have been helpful to you.  I wish I had this information when I was first getting started as a Dallas Texas NoteBuyer.  10 Tips For Note Sellers On Getting The Most For Your Note From Dallas Note Investor Bruce Avellanet. We also develop commercial multi family properties that pay a preferred rate to our private money investors and are 100% backed by FHA.  These are market rate “A” class properties.  Commercial paper & multi-family real estate guru Bob Leonetti endorses Dallas Note Buyer Bruce Avellanet CLICK HERE FOR VIDEO NOW.

P.S. Call us NOW to get your questions answered:  (214) 914-1794 direct or email:  Bruce@XPQTinvestments.com  We pay referrals for properties and pay above average rates of return to our private money investors.

http://www.myhousedeals.com/xpqt (free access to motivated sellers of single family homes, we really do close several single family deals from here every month…)

http://www.mywebsafety.com/bruce Protect your family from ONLINE PREDATORS

Follow us on Twitter:  http://twitter.com/avebru01

5 Deadly Mistakes Not To Make When Trying To Sell Your Dallas Texas Note Paper or Real Estate Mortgage

5 Deadly Mistakes Not To Make When Selling Your Note Paper or Real Estate Mortgage

Many Dallas Texas real estate sellers over past years have been forced to carry back notes (mortgages) on their properties as the availability of most types of conventional financing has dried up. If you are a note holder in DFW (Dallas Ft. Worth area of Texas) and want to sell your real estate note, paper or mortgage, you should be aware of the 5 deadly mistakes to avoid when trying to sell your Dallas note, paper or real estate mortgage.

5 Deadly Mistakes:

1) Contracting With An Intermediary – Be sure your buyer is really the buyer and not just a note “broker” looking for a commission. Mortgage brokers can be helpful, get referrals, see #3 below.

2) Failure To Get Proof of Funds – Do your due diligence on your buyer by requiring written proof of funds from a third party (bank or brokerage account) to ensure that your buyer has liquid funds.

3) Failure To Get References – If your note buyer is the real deal they should be willing and able to give you at least two references of business people you can contact.  Preferably other note buyers that have done business with them recently.

4) Selling Too Cheap – Be sure to get a third party valuation of your note so you know what it’s worth before you sell it.  Many mortgage buyers will “low ball” the value of your note so they can get a better price from you.

5) Not Documenting the Deal Properly – Get a contract when you sell your note that lays out all the terms and conditions concerning recourse, what happens if payments stop, and other important terms. We recommend hiring a real estate attorney familiar with the process to do the paperwork.

Conclusion

Avoid these deadly mistakes and consult someone who knows notes, like Bruce Avellanet, who buys notes in Dallas Texas as well as other areas and buys other paper and mortgages.  5 Deadly Mistakes Not To Make When Trying To Sell Your Dallas Note Paper or Real Estate Mortgage.  We also develop commercial multifamily properties that pay a preferred rate to our private money investors and are 100% backed by FHA.  These are market rate “A” class properties. Commercial paper & multi family real estate guru Bob Leonetti endorses Dallas paper investor Bruce Avellanet    CLICK HERE NOW FOR VIDEO.

P.S. Call us NOW with your questions:  (214) 914-1794 direct or email: Bruce@XPQTinvestments.com We pay referrals on properties and pay above average rates of return to our private money investors 100% backed by real estate.

http://www.myhousedeals.com/xpqt <===CLICK HERE NOW! (free access to otivated sellers of single family homes, we really do close several single family deals from here every month…)

http://www.mywebsafety.com/bruce <=====CLICK HERE NOW! To protect your family from online PREDATORS.

Follow us on Twitter:  http://twitter.com/avebru01