Friday on the Green Concert Series


FridayOnTheGreen(1)Red Team is a proud community partner for the 9th season of Friday on the Green, a FREE monthly concert series presented April – October by Near Southside, Inc. The event is held at Magnolia Park at 1201 Lipscomb, between Rosedale and Magnolia (and a block from the Red Team office). Friday on the Green features the region’s best live music, tasty food and drinks from Near Southside restaurants, and a fun and relaxed atmosphere of a big neighborhood picnic. Get a group together, throw a blanket and a couple of chairs in the car, (don’t forget the pup!) and enjoy a lineup of several bands, food from local businesses and food trucks, beer and wine.

The next concert is Friday, September 8th!

Stop by the Red Team booth for a game of corn hole or just pop by to say “Hi” and introduce us to your dog, then enter to win a gift card to Tina’s Cocina. Check out the fun we’ve had so far!

Grand Prairie Medical Office Transaction Facilitated by Red Team Real Estate

Grand Prairie, TX – Another premier investment opportunity has changed hands with the helpRobinson Road Aerial of Red Team Real Estate. Robinson Road Medical Plaza is a uniquely designed three-building medical complex showcasing two beautiful fountains flowing into koi fish ponds.  The three single story buildings, totaling 8,661 square feet, surrounded by a beautifully landscaped concrete parking area. Tenants include well established medical doctors, medical office staffing, hospice services, and a pharmacy.

The sale was facilitated as intermediary by Red Team Real Estate in Fort Worth jointly with Michael Mayes, Owner/Agent and Chuck Precopia, Broker. The buyer, a local investment group, has retained Red Team Real Estate as manager for this property.

“This was a great opportunity for our clients on both sides of the transaction. The growth in this area is phenomenal; I could not be more pleased for our clients and Red Team!” Michael Mayes, Owner of Red Team Real Estate.

The buyer is thrilled with this acquisition’s location and its distinct offerings in the rapidly developing corridor along Highway 161 just blocks from the new Super Walmart Center and near the IKEA in Grand Prairie.

About Red Team Real Estate

Red Team Real Estate, established in 2012 and led by Michael Mayes, provides professional client-centric service by experienced agents dedicated to your needs. Located on historic Magnolia Avenue in Fort Worth, we focus on the best i
nterest of our clients in each and every transaction. We are dedicated to the development of long-term client relationships! Let Red Team handle all of your residential and commercial sales, leasing services, property management, and real estate investments. For more information, visit www.redteamrealestate.com.

Winning. Clients.

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Client Spotlight: Legacy Mutual Mortgage

“Michael has been a great business partner! He and the Red Team Property Management staff are patient and proactive. They handle each situation with dignity and class and work to ensure they are completed to their clients’ satisfaction. I look forward to working with them on the next transaction.”

Jenni Jones

About Legacy Mutual Mortgage

Legacy Mutual Mortgage is a local full-service mortgage company conveniently located minutes from Downtown Fort Worth. With in-house processing, underwriting and closing, Legacy is at the top of their game in the mortgage lending industry. Legacy offers Conventional, FHA, VA, USDA, and Jumbo programs for both purchase and refinance transactions. I have been a licensed loan officer since 2004 and pride myself on “thinking outside the box” to consider all available options and find the best mortgage for my clients. Others say that I am reliable, approachable, and extremely knowledgeable in the industry. Customer Service is my #1 priority!

Jenni Jones
Loan Officer
MLO NMLS #263547
JJones@LegacyMutual.com

Legacy Mutual Mortgage
A Gardner Financial Services, Ltd/Crockett National Bank Company
Institution NMLS #278675
1300 S University Dr, Ste 110
Fort Worth, TX 76107

Office: 817-870-2777
Fax: 817-546-1656
legacymutual.com

Thinking About Buying or Selling A Home In 2016?

Here’s What You Need To Know…

Who could forget the nightmare of the foreclosure crisis? Borrowers didn’t understand the terms of their loans, many were blindsided by last minute changes in fees and rates at the closing table—essentially, home buyers were most upset about the lack of disclosure in the mortgage process.

Since then, the Consumer Financial Protection Bureau has been working on making the loan process more transparent than it had been leading up to this, and as of October 3, 2015, there are two new forms that have replaced the previous (four) more misleading and confusing ones.

Both the Loan Estimate and Closing Disclosure are intended to streamline the loan application process and make it easier for borrowers to understand their contract by clearly spelling out the most relevant details all on one page—including the interest rate of the mortgage loan, the amount of the monthly payments and a listing of all the closing costs. Even if you apply for an adjustable rate mortgage, your documents will explain how the interest rate and future monthly payments could change based on certain factors.

The good news is that the “Know Before You Owe” forms have built in many protections for borrowers. Although making that big step into your new home should be (financially) more clear and sound—Purchasers not paying cash could be waiting up to 45 days for their contract to close, along with other set-backs.

The NAR is recommending you have everything ready seven days prior to closing, so before you start house shopping, here are the things you need to know:

Rather than waiting until the day of the closing to see the final figures, Borrowers now receive the Closing Disclosure three days in advance. To prevent any unwanted closing delays, a good rule of thumb is to have all the paperwork in order a week before your scheduled closing date. When you go into the three-day period, you’ll want to avoid any unnecessary changes. Making changes as the clock winds down can come with a cumbersome set of hurdles.

So this means that you and your settlement providers, including your Lender and Agent are really under the gun to get everything squared away—more so than ever before. Buyers and Sellers have to be cooperative as well, because if last-minute negotiations are made, a new three-day waiting period kicks in.

With zero tolerance for error throughout most of the disclosures, it’s vital everyone is working with a Real Estate Broker and Lender who understands the multiple new systems that have been introduced with these forms.

For those of you thinking about buying or selling a home in 2016, there’s a lot to do, and now is the time to get started!

We invite you to connect with us at Red Team Real Estate. Our Realtors are skilled in handling all types of real estate, and our comprehensive knowledge concerning the latest laws and market trends, along with the ability to network with other Agents and Lenders will truly benefit you. Contact us today and find out how we enhance both the buying and selling experience for each and every Red Team client.

Winning. Clients.

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.

New Trends in Property Management

Tax Time is Almost Here… Are You Prepared?

Part 2: Technology for Investors

The objectives of investment in Real Estate have traditionally been income and appreciation in the value of the property. But there’s much more to the story—there can be lucrative tax advantages as well: IF YOU ARE DOING IT RIGHT!

What’s an operating expense?

For tax purposes, you will figure your profit or loss each year from operating the rental property. Generally, you can deduct all expenses incurred to operate the rental. The following are potential operating expenses that are deductible:

  • Advertising
  • Cleaning & maintenance
  • Bank charges – if a separate account is maintained
  • Insurance – fire, casualty and liability
  • Utilities – gas, electricity, water, cable, etc.
  • Services – yard care, pool service, pest control, etc.
  • Rental commissions
  • Property Management fees
  • Mortgage interest – on debt to acquire or improve the rental
  • Property taxes
  • Repairs
  • Local transportation expenses
  • Homeowner’s or association dues
  • Tax return preparation fees
  • Depreciation allowance

There are so many variables when it comes to operating expenses, and because taxation can have such a significant impact on your cash return as an Investor, it only makes sense to have both knowledge and technology working for you!

The fact is, being aware of the tax laws which affect Real Estate is a major first step in making the most of your property, but that’s only part of the puzzle… There’s a lot of labor, paperwork, and “red tape” associated with this type of investment, so unless you are leveraging the benefits of the best technologies, you’re probably spending an excessive amount of time “saving” money.

C’mon, you know the saying – Time is money. So the real question should be… How much money are you spending on your investment?

Property Management Companies like ours at Red Team Real Estate, use advanced technologies and industry leading practices to help you and your investments operate at their fullest potential.

Are you ready to learn more about no-stress reports, augmented cash flow, taxable income, tax breaks for repairs, and how to save more through overlooked deductions? Contact us today and start up the conversation— this is one call that will be well worth your time!

Winning. Clients.

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.

**Disclaimer: Red Team Real Estate is not a Tax advisor or CPA, and more specifically, we are not giving and cannot give tax advice. We do, however, work with CPAs and Tax Advisors to make sure our clients have the most current information for success.

Client Spotlight: SafeHaven of Tarrant County

Red Team’s December Spotlight features: SafeHaven of Tarrant County. Here’s their story!

“The mission of SafeHaven is to end domestic violence through safety, support, prevention and social change.”

This is a group that Michael Mayes supports and has even raised money by performing cartwheels at Holiday Events. Consider giving money to help those who are trying to get away from the horror of domestic violence and onto a new and better life.

We would love to help you too! Contact us today.

Educating for REAL Greatness,

Red Team Real Estate and Property Management

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.

Client Testimonial: Kristie C.

“My experience with Red Team has been more than wonderful. Working with Michael and his team made the process of moving from out of state less of a nightmare. When challenges came up, they were professional and helped me work through the solution. In the future, if I need to buy or rent a property in the Dallas/Fort Worth area, Michael and his team will be the first call that I make and I encourage everyone to do the same.”

-Kristie C.

Red Team News: The 7 Rules of Selecting a Property Manager sneak peek

Are you a current property owner who wants to ensure you’re getting the best return on your investment?

Red Team Real Estate is proud to announce that our very own Michael Mayes is publishing his first book, The 7 Guides When Selecting a Property Management Company. Set to debut in 2016, this book goes far beyond simply selecting a property manager. Inside you will find a wealth of information, tips and secrets that all current and would-be investors should know. Ready for more? Here’s a sneak peek of one of the topics Michael will cover:

Owners Technology

In today’s market it only makes sense to have technology working for you. Any Property Management Company worth their weight in salt will be giving your properties the leverage they deserve by using technological tools that will nourish a successful investment.

Show me the money!
Collecting rent shouldn’t be a hassle. If you’re still going door-to-door, or only accepting cash and check payments, you’re doing too much work. Every Property Manager needs to invest in technology that will allow tenants to pay in whatever manner is convenient for them. And remember, the rent you receive must be reported on your taxes, and the right software will keep detailed records of all payments. This includes monthly owner statements, cash flow reports and other information that owners need to confirm your “Rental Business” is working.

Welcome to the Inter-Web…
One of the latest and most effective tools for potential tenants and property managers to showcase their properties is online and through social media outlets. 87% of electronic device sales will be tablets and smartphones…which means property owners (or their managers) will need to accommodate this new generation of prospects and applicants with mobile online leasing tools. Investing in mobile online leasing tools allows potential tenants to do the whole application process online and saves you a heap of a paper mess!

There are only 168 hours in a week and your Property Manager should be working smart and using them wisely! Owning real estate is a business and should be treated as such. Just because someone agrees to collect the renter’s check, does not ensure they are looking out for you best interest…

The 7 Guides When Selecting a Property Management Company, coming soon in 2016!

Winning. Clients.

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.

New Trends in Property Management

Which ones are shaping the future of your investment?

Part 1: Technology for Owners

Technology is changing the Property Management industry for both Landlords and Renters alike.The question is…which trends are shaping the future of property management right now, and most importantly, how can you use them to make the most of your investment? Here are Red Team Real Estate’s top two trends and the “must haves” for Investors or their Property Managers.

Management Software

Every REAL Property Management has to invest in Management Software to assist them in their account management. There’s so much paperwork and documentation involved in this business—it only makes sense to have technology working for you. Here are some of the most helpful and valuable tools for managing your property:

  • Accepting Payments via ACH
    Every month property owners and management companies spend a great deal of time and energy collecting rent from their tenants. All the while, costs for accepting, processing and depositing checks continue to escalate. Using a service like ACH saves you time, money and all the headaches typically involved in rent collection.
  • Reporting
    When you invest in technology and the management systems, it enables you to have clear and concise reporting. This includes monthly owner statements, cash flow reports and other information that owners need to review to confirm that their “Rental Business” is working.
  • End of Year Reporting
    Realtors that “do property management” have a hard time with end of year reports as well as with 1099s. When a Property Management Company invests in technology the 1099 process is automated and accurate. No hand completed 1099s for your owners or vendors!

Investing in technology for your Rental Business just makes good sense! Here are just a few other benefits you’re sure to appreciate:

  1. Web-based solutions available 24/7/365
  2. Risk management tools to help reduce losses
  3. Ability to edit payment information and schedule
  4. Robust reporting

Harness the Power of the Internet & Social Media

One of the latest and most effective tools for marketing to potential tenants and assisting property managers with showcasing their properties is online and through social media outlets. Sorry, folks…the world wide web isn’t going away, so if you’re not already proficient in rental property marketing, it’s time to hop on board!

  • Mobile Leasing Tools
    According to an article in Apartment Management Magazine, 87% of electronic device sales will be tablets and smartphones…which means property owners (or their managers) will need to accommodate this new generation of prospects and applicants with mobile online leasing tools. If you’re not already targeting mobile users you’re missing out on a huge slice of the renter demographic.
  • Application Process
    Most companies, regardless of industry, have embraced the Internet. It is amazing how many owners and “part-time” property managers are still using paper applications. What a mess! Investing in software systems allows you to do the whole application process online. With mobile online leasing tools, you’ll even have the ability to have a prospective tenant complete an application on an iPad or smartphone before they’ve left the property. Talk about efficiency!
  • Ratings and Reviews
    An online rating can carry a lot of weight with many potential tenants, and bad reviews tend to get much more attention than the good ones. Property management companies need to develop a program to get satisfied renters to post positive reviews and give good ratings. It may seem frivolous, but we’ve found that these types of programs are a worthy investment that can provide a good return.

Purchasing and learning how to use all this new technology may seem overwhelming to an Investor. Red Team Real Estate has a proven track record of giving their clients the leverage needed to stay on top of the most current trends. If you’re not already using a Property Management service, or your current company isn’t keeping up, we invite you to give us a call and speak with one of our experienced agents today.
  Winning. Clients.
Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.