Just a heads up. Bird dogging carries a $1000 fine in Texas. The only way to legally pay a referral fee is if both parties hold real estate licenses. The other legal option is to make them a principal in the transaction.
In the westend of Richmond, Henrico County actually, there are two predominant subdivisions that are PUDs. They are Twin Hickory and Wyndham. Both were started in the 90s. The resale values of similar Centex type houses built within the PUD vs outside are higher. The PUD fees for a 2500 square foot in the $400k range are $144 per quarter, not including the club in Wyndham. In Twin Hickory they are about the same. Outside of the PUDS the similar houses are probably about $25 - $50k less depending on location of course. The houses do sell faster in the PUDS. And a lot of our buyers are people who are not planning on being here for the long term (under 5 years). I personally think they feel that their investment is better protected in a PUD).
While I don’t have any rentals in PUDS I do have a friend who has 1031ed all his rentals and purchased within Wyndham. He feels he gets a better tenant base from the professional that are transferring here for a short time. His rents are in the $2,000 to 2,500 range and are smaller houses than my example. He has no problem with vacancies.
Almost all of the new subdivisions have some sort of HOA. The fees really vary depending on what they control (common areas, playgrounds, parks, courts, or some just have nice signage at the entrance )
Nate a Louie vile slugger is all agreement you need....
[addsig]
Just a heads up. Bird dogging carries a $1000 fine in Texas. The only way to legally pay a referral fee is if both parties hold real estate licenses. The other legal option is to make them a principal in the transaction.
Hi Hoober,
In the westend of Richmond, Henrico County actually, there are two predominant subdivisions that are PUDs. They are Twin Hickory and Wyndham. Both were started in the 90s. The resale values of similar Centex type houses built within the PUD vs outside are higher. The PUD fees for a 2500 square foot in the $400k range are $144 per quarter, not including the club in Wyndham. In Twin Hickory they are about the same. Outside of the PUDS the similar houses are probably about $25 - $50k less depending on location of course. The houses do sell faster in the PUDS. And a lot of our buyers are people who are not planning on being here for the long term (under 5 years). I personally think they feel that their investment is better protected in a PUD).
While I don’t have any rentals in PUDS I do have a friend who has 1031ed all his rentals and purchased within Wyndham. He feels he gets a better tenant base from the professional that are transferring here for a short time. His rents are in the $2,000 to 2,500 range and are smaller houses than my example. He has no problem with vacancies.
Almost all of the new subdivisions have some sort of HOA. The fees really vary depending on what they control (common areas, playgrounds, parks, courts, or some just have nice signage at the entrance )
Jim