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When it comes to Dallas, Texas, the expanse of the suburbs is quite amazing and also seems to be never ending. You have Allen, Plano and McKinney at the peripheral areas. A new trend in town development in the form of ‘exurbs’ is being seen in places like Richardson which is at a distance of approximately 20 miles to the northeast of downtown Dallas. The Telecom Corridor has developed here and with other companies moving here, the pace of growth in this area has been nothing short of dizzying.

Richardson is well known for the above mentioned ‘telecom corridor’ and a number of high tech firms that have set shop here. Richardson is 20 miles northeast of Dallas, and has at its side highways, like the Tollway, 1-90 George Bush, Central Expressway, 121 which are quite busy and also well known. The area has some of the area’s older neighborhoods with homes that have larger trees and also great landscaping. While town homes and condos are getting to be much more prominent, with Turtle Creek being quiet convenient in terms of providing access to the city.

One of the best places to stay in Dallas is Highland Park. It is quite near Mockingbird and Central Expressway and also quite centrally located in between Oak Lawn, SMU and Downtown Dallas too. Highland Pak Village is well known for its shopping avenues and the Highland Park Independent School District is also well accepted and established here. The Turtle Creek is quite close by and one can go for wonderful strolls here. This area has some of the most gorgeous homes in town and it is the 41st wealthiest city in the US and 19th wealthiest if you consider a population in excess of 1,000.

Plano was an exciting place to live since its founding and has always given its residents a feeling of growth, expansion and promise. In 1881 the entire business district was destroyed by fire but was quickly restored. In terms of recent population growth, Plano had a 7% increase while Allen showed a whopping 11% increase. McKinney weighed in at a 9% increase and Frisco came in at 8%. Plano TX has been offering residents and fellow newcomers job opportunities such as gristmill works, sawmills and general store works. That’s what drove people to settle this place long ago and still is, right up to this day a good location for opportunity.

Lake Highlands is famed for its dedication to families and community. Lake Highlands has pockets of dilapidated housing interspersed through its area, but its single family detached neighborhoods are pretty stable. Far east of Dallas is different where several neighborhoods are turning into rental communities or ultra-cheap housing. Lakewood in Dallas, Texas is a collection of established neighborhoods of older homes with wide streets and mature trees, located east of Dallas near Whiterock Lake. There are several Historic and Conservation Districts within the area protecting the many old homes and history of the Dallas vicinity.

Roy Owens is an investor who uses Dallas investment property to make a living. He also helps individuals with retirement planning.

Comments (0) Jan 31 2010

When you are planning to buy property, dealing with financial institutions can be a hassle. This is one of the reasons why some people prefer to go in for seller financing. This is useful for first time investors as well as those who have been turned away by traditional financial institutions. The interest rates are also lower and one can sell or get the property refinanced at will. There are a number of sellers who have made seller financing a kind of standardized and common process, as they take into consideration the 30 year fixed rate and give it out along with a spread on Dallas investment property.

Sellers want a fast closing with little hassle. Sellers also want to pay as little taxes as possible on the gains incurred. Sellers are anxious to sell; and in a sluggish real estate market, owner-financing is an attractive alternative to losing money while properties sit vacant. Otherwise, homes can remain on the market for years with owners either making mortgage payments out of pocket or renting. Sellers may consider 100% owner financing or partnering with the right buyer of Dallas investment property for a win/win outcome.

In the past, some sellers were of the opinion that financing is the buyer’s lookout and not theirs. But the trend and the understanding on the matter is changing as sellers have started to realize that by using seller financing they can get an advantage against competition in terms of overcoming an important hurdle in selling, namely financing for this fairly large buy. First time home owners or even seasoned investors can purchase a home with hardly any down payment and sellers can often contribute as much as 6% of the price towards closing costs.

Seller financing presents very little, if any, problems. The seller doesn’t have to pass the rigors of a lending institution, nor does the buyer. Sellers will typically finance 50 to 60 percent – or more – of the selling price, with an interest rate below current bank rates and with a far longer amortization. The terms will usually have scheduled payments similar to conventional loans. Sellers must know when they list their property for sale that the master association for their property must also qualify in order for a buyer to be able to get a loan. The Rules and Regulations, By-Laws, budgets, insurance policies, everything, are subject to review by lending underwriters, so be aware of conditions while exploring investment property.

Another example of seller financing is the seller’s mortgage is transferred to the buyer and the loan extended is in the seller’s name. The ownership of the property is transferred to the buyer when the sale deed is signed by the seller. Sellers also would like to avoid huge tax liabilities on their Dallas investment property and are certainly not keen on waiting for huge periods of time like thirty years or so to get some return on their investment property. All of these needs can be met by means of installment sale rather than a conventional sale.

Roy Owens is an investor who uses Dallas cash flow property to make a living. He also helps individuals with creative financing for investments.

Comments (1) Dec 30 2009