All Forum Posts by: Adam Irvin

@Guy Gimenez yes I understand that, I’m meeting with an attorney today. I was looking for a recommendation for a local attorney, and any anecdotal info people may be able to provide over the weekend.

@Ronald Rohde we’ve decide to hold on to this one, but want to refi soon and get it in long term financing

I’m in need of help, and an attorney recommendation in the DFW area, for issues with my GC. Long story short, we’ve gotten to the end of our project and he’s demanding final payment. He’s got work on his invoice that was never done, erroneous charges, and changes to the original contract that we’re never solidified in writing but he’s now trying to charge me for. I’ve sent him numerous emails stating that I will pay him in full when the work is done and specific issues are corrected, but he’s refusing to fix anything and just demanding payment. He is now saying he’s going to turn me over to collections, but I don’t completely understand what he’s legally allowed to do at this point. The shotty work needs to be corrected, and the erroneous charges deleted off my invoice, before I give him a final payment. What are my options here? Thanks in advance.

I’m looking for some insight into a HELOC in the great state of Texas. I’ve been told that I can only take out a HELOC on my “homestead” or primary residence due to Texas laws. My goal is to have a HELOC on my rental property, which currently holds about $80-100K in equity. Th goal being to take that money, as needed, to fund cash purchases of more investment properties, then refi and pay off the HELOC. However, I can’t do any of that, if the state won’t allow me to take a HELOC on my non primary residence... Can anyone shed some light on this for me? Thanks in advance.

Rogelio hit it on the head. The 203K is designed to do exactly what you're asking for. Plus, you can bid during the early period on hud homes since you'll be occupying it too.

Sean Ray and Trevor Smith I'd be in to meet up sometime for a coffee and discus how we can all help each other in the DFW area. I get deals all the time I'm passing on because they're too far south for me, and it sounds like you've passed on deals too far north for you. Maybe we can work together on something that we would have otherwise passed on due to geographic limitations.

Try to find a local charity that installs those wheelchair ramps for people in need. They may come remove it at no cost in return for you donating all the materials to them to use on their next project. You may even be able to write it off as a charitable donation when all said and done.

Ryan Johnston where are you finding cash flow properties in Dallas giving you $600+?? I'd really like to know more about your system and area you're investing in to find those deals...

Thomas Abbott what consideration did you give to owning a rental condo that's under an HOA? I've been leery of dealing with such a situation because of the assessments and penalties an HOA can impose on the owner for repairs or due to tenant behavior...

@Mike D'Arrigo that graph is excellent. I had no idea that KCMO had such a large GDP number, and higher than DFW!