Forney was originally settled in the year 1846. After the end of the Civil War, many from the war-torn areas throughout the south flocked to the area to start new lives. Single men were granted 320 acres and married men were granted 640 acres. By 1869 there was an established downtown area with a saloon, blacksmith shop, school, and church. By the 1870s the town was recognized by the US Postal service. Late into the 1870s and 1880’s the town garnished a reputation straight out of an old Hollywood Western. When the cotton mill opened in the early 1910’s many investors started to take note of the rich grasslands of Forney nationwide. The Great Depression hit Forney hard and many younger people left to start over in the bigger city of Dallas. The town of Forney would never truly recover from its losses until well into the 1990s when the population had finally returned. 

Today the quiet town of Forney is home to about 15,000 people located inside the Dallas-Forth Worth metropolitan area. The quaint downtown streets are lined with local businesses from antique shops to small food establishments in older antique-style buildings which nod to the town’s rich history. Local artists have painted murals along the exterior walls of some of the buildings adding color and character to many of the old brick buildings. Neighborhoods are nestled in between tree-lined streets with family homes and the sound of people going about their daily lives. 

Forney features many local attractions including the Spellman Museum, located diagonally across the Main Street intersection across from City Hall. The museum showcases photographs and artifacts from the rich history of Forney. Another great place to visit is The Gentle Zoo, where the whole family can get up close to many animals. 

Whether you are visiting Forney for the day or staying for a while, the locals will welcome you with Southern hospitality and open arms. 

You’ve made the leap of faith and want to join millions in the journey to financial freedom by investing in real estate – what could go wrong? Like many, you might think that in this market buying a fixer-upper can’t go wrong, that you’ll always be able to sell it due to high demand and make a profit. Think twice! There are numerous reasons why this is not the case including some rookie mistakes made by first-time investors. 

Self Made Real Estate Experts  

You’ve read the books, watched the television shows, and even poured over Zillow for what seems like endless hours. You think you’re a professional and know all you need to succeed. What you’re forgetting is that every market in every community in the country is different. This means that the fixer-upper you buy in town A might sell, but if you were to buy a carbon copy of that same house in town B it might sit for months! Why is that? Every community has different income levels, motivation for buyers to move there, and other factors. Houses are not one size fits all communities. The best investment you can make when buying a fixer-upper is to take the time to speak with a local agent who knows the driving factors for the community you are looking to purchase in. It can save you a lot of time and stress in the long run.  

Fancy Finishes – Dime Store Budget  

The Pinterest phenomenon – getting expensive finishes for a home that will increase the overall price of the home and pushing that cost onto a potential buyer who might not be able to afford it. Remember to remodel for a potential buyer’s budget – not yours! High-end remodels come with high stakes. If the buyer does not appreciate your high-end items they might not agree with the overall high-end price of the home. 

Putting Off Easy Fixes 

It’s all great and dandy to overall the entire home and gets the big items taken care of, but do not neglect the smaller items like updating fixtures such as doorknobs, light switch covers, and outlet covers. Buyers notice that! When the buyers see small things they often wonder what big things lie neglected underneath. 

Working Against the Clock 

Buying a flip and then setting an unrealistic goal of completion can be the detriment of your project. Rushing for work to be done can create work to be done half-heartedly and cause more problems down the road. Buyers and future home inspectors will notice any short fallings or rush jobs. 

When it comes to investing in a home for “flipping” it, there is a right and a wrong way to do it. Do your research, keep costs low, have a realistic timeline, and always consult with a local expert on the market. If you are looking for a real estate agent in the Dallas-Fort Worth community, Anthoney Hanks with Beyond 404 Realty has years of insight and experience in purchasing homes to renovate them and resell. Located in Forney, Texas our real estate office can service your local needs and provide solid advice for our community. To contact us, please visit our website and call or email us.  

With summer fast approaching many of us have the time to do a little extra around the house. Whether you want to tackle a small project or something bigger, there is so much that you can do around your home. DIY projects can potentially increase its value as well as enhance the overall aesthetic of your home! Let’s take a look at some DIY home improvement ideas. 

Paint the Cabinets 

Often the kitchen is a huge eyesore in outdated homes and can be expensive and complicated to update! A quick and easy way to give your outdated kitchen a facelift is to paint the cabinets. You can go to your local hardware store and pick up the needed supplies to sand and repaint your cabinets. 

Do not overlook the cabinets in your bathroom either! Bathrooms are usually the very last room to be updated in a home. Get rid of that 1980’s faux oak finish and cover it with some navy, white, or green paint for a very modern look. 

Replace the Fixtures 

Do you have old brass handles and pulls on your cabinets and doors? A quick and easy way to update your whole home is to take a trip to the store and purchase brushed nickel, black, or gold fixtures. This project is so easy to accomplish because you often only need a screwdriver to get it done! 

New Lights – New Space 

Nothing can change a room faster than a new lighting fixture. Switching out an old fixture to a new fixture can change the whole mood of the room with brighter lighting and a modern look. Take into consideration the overall style of the room when choosing a new light fixture – you will want the room to flow from floor to ceiling. Be sure you do the research and check to see if you will need to have an electrician assist you in the switch over. 

Smart Home Updates 

Nothing says that your home is modern and updated more than smart home features. Many think that these high-tech items come with a high price tag – think again! There is an endless list of products to choose from, some are easier to install than others. Some ideas for smart home updates include a smart doorbell with a camera, smart locks, smart lights, smart outlets, or a smart home hub. 

At the end of the day, there is no right or wrong way to update your home as every home is different. Whatever you decide to do, make sure you have fun doing it and do added research into specific products and techniques. 

As an experienced real estate agent or property investor will say, a cheap buy is not always a good buy. A property that seems like a good idea to buy at the surface might not always be worth it. Looking into a property’s financials and rental history might produce a clean bill of health but what if things still do not add up? The following list is a compilation of properties that could seem like a good idea on the outside but will make you want to take another look before making a possible wrong step in your financial and investment career.  

Investments That Don’t Generate Cash Flow  

Many think that just because it would be an addition to your real estate portfolio that the property would generate cash flow. Most properties do indeed generate a good cash flow some do not and even some bring in a negative cash flow. So many people invest in a property that they should not just because they hope the value will eventually go up – don’t hope. Always make your investment decisions on facts. Even if the property were to eventually go up in value you will need to reconcile for the years that it was negative to your portfolio.  

Air BNB or Rental Properties in Bad or Strict Rental Areas 

Do not be fooled – you cannot just buy a property and rent it out long term or short term, like an air BnB or VRBO. Some areas have strict rental policies that will make owning and renting a property like this a nightmare. ALWAYS check with local ordinances before making the leap and purchasing a property for this purpose.  

Condos or Time Shares 

Condos or timeshares are not even a real estate investment like many think. There is no way that you will be able to guarantee the cash flow, income, or future value of the property. Plus selling a condo or timeshare is near impossible, and when you do finally sell you will only get a small percentage of what you originally purchased it for.  

Property Development  

Real Estate development is high risk with rising construction and market prices. There are so many things that can go wrong at any time. Entitlement issues, city approval of permits, labor shortages, landscaping issues, road permits, etc just to name a few. Not to mention that the entire process is costly. Your return might not be seen for years or even decades later. This type of investment is not for those who are looking to see a return soon and should be left to those very experienced investors. 

Don’t let this list of possible bad investments scare you away from purchasing your first investment property – there is a way to find a good investment that will diversify and grow your portfolio. Speak with your local agent and they will be able to guide you to find an investment that fits your budget, experience, and needs. 

Anthony Hanks is available for investment consultations in DFW. Not only an agent, but also an investor of the BRRRR strategy. Reach out today to get started! 

If you are thinking of becoming a landlord, you will need to know how to effectively communicate with tenants to resolve issues and complaints. As many landlords will tell you, there are good tenants and then there are bad tenants. Bad tenants tend to make your job as a landlord difficult, stressful, and all-around just a headache. Most property owners will deal with a bad tenant from time to time, and it’s not easy. Follow some of the tips we have listed below to try and make the situation easier for you and the tenant. 

Calmly Listen 

This is often easier said than done. One of the best qualities anyone can have is to be an effective listener. When listening to your tenant you really need to understand what they are saying and try to reason that they are not overreacting. Stay calm no matter what they say because at the end of the day they are saying it out of frustration. When you stay calm it makes the tenant want to be calmer when explaining their issue. Do not let your personal thoughts or feelings become clouded by emotions when discussing issues with your tenant, as a landlord you need to be the voice of reason. Below are a few tips on effective listening. 

1. Take notes 

2. Ask follow up questions to fully understand the issue 

Be Available  

One of the biggest tenant complaints in regards to their landlord is that they can never reach them unless it’s time for the landlord to collect rent. Don’t be that landlord! Set up clear hours on when you will be available to your tenants. You don’t have to be available 24/7 but set clear standards for when you will be. For example, you can be available on Monday – Thursday from 5:00 PM to 8:00 PM. With that being said, make sure you always have an emergency plan for water leaks, fires, etc. 

Outline Rules and Restrictions  

From the very beginning of the lease outline, exactly what is expected of the tenant. One of the worst feelings for a tenant is thinking that they can do one thing only to be told months later that it was not okay. When you sign a lease with a new tenant you can hand them a short list of rules and regulations for the property that they are occupying, this can specify quiet times, parking spaces, interior painting, wall hangings, etc. It’s better for everyone if the expectations are clearly outlined from the start, this will cause less conflict down the road.  

Stay tuned to our blog in the near future for more helpful tips on peaceful dealings with tenants.  

As the short-term rental market continues to grow many are wondering “How can I get in on it?”. Short-term rentals are often underused although highly profitable avenues of real estate investing. During this article, we will discuss why the short-term rental market is booming, what some advantages are for owning short-term rental properties, and where to start. 

Why is the short-term rental market booming? 

With millennials starting a family of their own and in turn taking family trips, they are paving the way for an alternative sort of stay from the traditional hotel and motel avenue. The popularity of internet booking sites such as VRBO and AirBNB also has played a major role in boosting the short-term rental market, which was once only reserved for cottages along the shores of lakes and the ocean during summer months. With the endless options of location, style, and atmosphere of a rental property, virtually everyone can find a property that they truly feel at home in while away from home, or they can try something completely new such as staying in a tiny house, yurt, or cabin for instance. Another contributing factor is that as Gen Z and Millennials find their way in the working world, they have adapted more of a nomadic ideology and travel, even if for a shorter time frame is higher of a priority than generations past.  

What are the advantages of short-term rentals? 

The biggest advantage might be the most obvious – no long-term tenants to have to chase around for rent every month. If you host your rental property through a booking site there is a guaranteed upfront payday unlike some troubled long-term tenants, this means that there is no guesswork or pestering for that rental fee. Depending on the property the weekly rental rate could also be significantly higher than that of a long-term month-to-month lease, in some cases upwards of thousands more – location dependent. Once you get a team of dedicated people to assist you with the rentals, including a handyman and a maid for turn over services, they are also much easier to maintain with low stress and high rewards. 

Where do you start? 

First, you need to consider the type of property you would like, this can range from a typical vacation home with water frontage to a unique stay like a remote cabin or tiny home. Once you decide that you will need to determine the location – this is huge! Depending on location there will be certain regulations surrounding short-term rentals. Make sure you have a trusted agent who can help you navigate through each area’s specific guidelines for your potential rental.  

Now what? 

Is buying a property to use it as short-term rental the start of your journey to financial freedom? It could be! Consider the above discussion and look at your finances to see if you are in a position to start your search. A trusted local agent is only a phone call away! 

For information on short-term rental properties in the Dallas-Fort Worth area, reach out to Anthoney Hanks with Beyond 404 Realty. He will guide you in the right direction and help you find your perfect rental property.  

When a prospective buyer comes to tour your home they need to be able to imagine themselves living in your home. This means you need to make the home appealing to a wide variety of people while still maintaining your individual style. Sounds tough, right? Follow these simple tricks and tips to make your house feel like home to more buyers.  

Follow a Color Scheme  

Pick no more than 4 to 5 colors when decorating your home. Pick one dominant color, typically a neutral such as tan, brown, black, gray, or white, and then apply a secondary color and a few pops of color. Try to stick to this trend throughout the home. It makes everything seem more cohesive and keeps the buyers from feeling like every room is part of a different home. With proper planning and execution, even a salmon color scheme can seem like it goes! If you don’t know where to start with color schemes, look at what you already have and then check sites like Pinterest and see what others have done with your dominant color. Add in a few throw pillows and some inexpensive art and you have a well-designed room! 

Hang Your Art Appropriately  

Artwork should typically hang at eye level or about 57 inches from the floor. The correct height is especially important when hanging solo centerpiece artwork. Plan out where you will put your art before the nail ever hits the wall. Arrange the art on the floor leaning against the wall where you think it should go. Then, have someone hold it up for you as you check the placement. Next, create a mark with a piece of tape or a small pencil mark on the wall as to where the nail should go, this will prevent wall damage and ensure a proper hang every time.  

Paint Can Fix It 

Paint is the magic glue that holds home decor together. Have an eyesore of a room that you’re 15 year old painted lime green? Paint over it with a nice neutral wall and be sure to include a primer under the paint so that the color does not bleed through. Perhaps paint the walls a light gray, white, tan, or another popular color. Sometimes less color is more.  

Ceilings Matter 

Look up at your ceilings – do you see water stains from the time that pipe burst 12 years ago? Trust us, the buyer will see that too. Instead of thinking the problem is long solved, they might wonder what caused that and how expensive it will be for them to fix it. Paint over the ceilings and make them nice bright and white to eliminate any second guesses from potential buyers.  

When in Doubt add Plants 

Plants make everything better. Have a dull corner that needs some color but don’t know what belongs there? Get a plant! House plants are available at most home improvement stores and are relatively inexpensive and low maintenance. Plants not only purify the air to make the home feel fresh and light, but they also add the much-needed pop of color.  

Throw Pillows 

Does that old couch need to be replaced but you’re waiting until you move to do so? Don’t worry, we’ve got you covered. Cover any unsightly spots on the couch with a color throw blanket or different sized throw pillows. This serves two purposes in covering possible blemishes as well as adding pops of color to an otherwise bland space.  

Cover the Cover Table 

That once stunning coffee table in your living room now is covered in rings of yesterday’s coffee stains and marks. Cover the marks with a bold colored book with a fun picture of architecture or travel on the cover.  

Following these simple steps will help elevate your home. After a few showings, you will see the offers rolling in! 

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