Archive for January, 2012

Why Texas Real Estate is a Good Investment Opportunity

by BULL Forms on January 31, 2012 in Uncategorized with No comments

Those who are interested in investing in real estate should know that Texas provides some of the greatest real estate opportunities in the US. A beautiful state,Texas is known for its warm climate and country music, as well as the rich history and friendly people. By understanding some of the advantages of investing in Texas real estate, you can determine whether it’s a good idea for you or not.

 

Texas Laws Regarding Tax Sales

Texas offers some of the best laws for those who are interested in buying tax lien properties. This is, of course, the kind of sale that offers estates for the price of the back taxes present on them. With most of these sales, the homeowner can opt to purchase the home back after the investor’s purchase, by paying the back taxes.

 

However, in Texas, if you’ve paid for the estate and the homeowner wants to keep the sale from going through, they must pay you twenty-five percent interest for the first year and 180-day redemptions. There are some cases in which a two-year redemption will apply and the investor will receive a fifty-percent redemption penalty.

 

In addition to that, the homeowner must pay the interest on the actual amount paid at auction rather than the amount the property was offered for originally. So, if an auction presents a property and starts the bidding at $3,000 but the investor ends up winning the property for $10,000, the interest must be paid on the $10,000 rather than the $3,000.

 

Texas Offers Monthly Sales

One of the benefits of investing in this type of Texas real estate is that many counties hold a monthly sale rather than having one large yearly sale the way most other states do. In those states that offer yearly sales, investors are drawn from all over to take advantage of some seriously low priced properties. This means one thing for the investor who wants a piece of the action: competition. With Texas’ monthly sales, the draw is less so fewer investors turn up. This means that one investor who is truly interested in buying can find a great deal because there is less competition.

 

Rental Income

Another great benefit of Texas real estate tax lien sales is that the investor will receive any rental income that comes from the property immediately after buying it at auction. So, if there’s a tenant in the home who is paying monthly rent, the investor will receive that money at the next date the rent is due. The investor may choose to evict the tenant but may also choose to allow them to live there and pay rent, as a way of gaining another income stream.

 

There are many benefits to investing in Texas real estate, even for those who aren’t planning on simply “flipping” the properties and reselling them. With a little research on the properties up for sale, an investor can make a huge return on a property.

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Types of Real Estate Opportunities in Texas

by BULL Forms on January 17, 2012 in Real Estate with No comments

Texas, with its warm climate and beautiful scenery, has a wide range of real estate opportunities, whether you plan to invest or find your next home. There are many different types of real estate, depending upon where in Texas you look. By understanding the areas, you’ll have a better understanding of what kinds of homes and architecture are available.

Houston

Houston is a bustling city, housing more than 2.1 million people in less than 600 square miles. Skyscrapers are the ornaments of the city, with beautiful examples of architecture seen in buildings like the JPMorgan Chase Building and the Bank of America Center. Real estate opportunities for residential homes abound, with beautiful architecture styles. Just a few include Victorian, a highly decorative style, Craftsman, a more modern and traditional look, and Colonial Revival, a beautiful and stately look that is reminiscent of the 1890’s. Texas real estate in this area is pricey, but great deals can be found by researching and watching foreclosure lists.

Austin

Austin, the capital city of Texas, is home to just fewer than 800,000 people and one of the most historical cities in the state. Within the city, visitors will see a host of stone buildings that follow Roman building guides, as well as skyscrapers that became popular in the 1900’s. Residential architecture styles include beautiful Victorians and cozy bungalows. The architecture in Austin is also heavily influenced by Spanish and European styles.

San Antonio

San Antonio, with more than 1.3 million residents, is home to the Alamo as well as many beautiful architectural styles. Those who are seeking Texas real estate opportunities in San Antonio will find a huge Spanish influence. Hidden among Spanish-style homes are French and Neo-Classical influences as well as a great deal of modern architecture. The San Antonio skyline is a beautiful blend of old and new buildings that combines to create the unique San Antonio feel. This is a beautiful place to live as well as to invest in real estate.

Dallas

Dallas is the third largest city in Texas, and one of the most beautiful cities to live in. Dallas offers a wide variety of real estate opportunities as well. Most homes listed in Dallas are single-family homes on lots, thought there are a variety of architectural styles. These vary throughout the different districts, but it’s easy to find Victorian, Neo-Classical, postmodernist architecture, as well as strong Spanish and European influences. While certain districts and neighborhoods are definitely pricier than others, most of Dallas’ real estate can be considered expensive. Finding foreclosures or looking on the outskirts of town is a great way to find more affordable Texas real estate.

While these cities are gorgeous cities to invest in Texas real estate, there are many smaller towns that offer great investment opportunities and wonderful places to live. From the weather to the friendly individuals to the beautiful and diverse architecture styles, Texas is a great place to buy and sell real estate.

Texas Real Estate Broker Requirements

by BULL Forms on January 3, 2012 in Uncategorized with No comments

Whether you’re thinking of becoming a Texas real estate broker, or you want to make sure your Texas real estate broker is qualified, it’s important to understand the specific state requirements. A trained specialist has information and knowledge that those who are untrained do not have access to, and this is advantageous for the broker, as well as his or her clients.

Real Estate Salesperson

Before an individual can take the Texas broker’s exam, they must be an active real estate salesperson, including having their license, for at least 2 full years. Without being a practicing, licensed real estate salesperson, individuals cannot obtain their broker license.

Training Hours

In addition to having a Texas state real estate salesperson license, individuals must have at least 900 hours of education, including 270 hours in core subjects. Core hours do not include MCE (mandatory continuing education) hours. However, for the remainder of the hours required, both MCE and SAE courses count. In some cases, obtaining a college degree can provide individuals with more than 600 hours.

When to Take Courses

Individuals can take courses at any time while waiting to take the Texas real estate broker’s exam. However, it’s important to count the hours properly, as different types of courses are counted differently. For instance, online courses are additional hours that count toward the total hours needed, and home study courses count too. The best time to take the courses is during the required 2 years as a real estate salesperson.

Additional Information

For individuals who have been licensed real estate salespersons in states other than Texas, the requirement is to have at least 2 years’ experience as a real estate salesperson in the months directly preceding taking the broker exam. A copy of the course transcripts or college transcripts will be required in order to take the Texas real estate broker exam.

Costs

In order to take the Texas real estate broker exam, the original application which is required by all applicants costs approximately $360. In addition to that, there is a $10 fee called a Recovery Trust Account that is required by all applicants. In some cases, individuals will need to pay a fee for a background check prior to the test.

Overall, the process to become a real estate broker in Texas isn’t difficult, especially for those who are already qualified real estate professionals. The most difficult aspect of the process is waiting the required two years. However, the experience gained during this two years is important and can help with the future career of the Texas real estate broker.