All Forum Posts by: Andrew Briggs

Hi, I have 2 small rent houses on one lot in Fort Worth, TX.  Today I went over to get a bid from a contractor for the back house for exterior painting.  Incidentally - in addition to painting - I started asking about installing foundation vents on both houses.  So the contractor and I went into the fenced yard at the front house (not planned) so he could look at some of the exterior siding to make his bid for the vent installation.  We weren't inside the fence more than 5 minutes when the tenant drove in and told my contractor "what the hell are you doing on my property"...

Just to be clear we never went inside the house.  Just went inside the fenced yard and were there for about 5 minutes or so.  This was an incidental, unplanned event where ultimately I'm looking to do maintenance on these properties.  I am the landlord/owner.

Previously the front tenant (who yelled at my contractor) asked me to let him know whenever I need to access his property including yard and house.  He says it's a liability because he has two dogs in the yard (btw, the 2nd dog is not on the lease and really is not supposed to be there in the first place...).  I verbally agreed to do the best I can as far as letting the tenant know in advance if I need to access.  And for the most part, I've followed his request.

Here's the verbiage in my lease:

"ACCESS TO PREMISES:

The Owner reserves the right to enter the residence at reasonable times to inspect, make necessary

repairs, supply services, or show it to prospective residents, purchasers, workmen, or contractors.

Whenever practicable, a two-day notice of the Owner’s intent to enter shall be given to the Resident."

Have I violated the tenant's rights?  How would a court look at this?  Appreciate your feedback.

Andy

Thanks Clint, appreciate the feedback.

Andy

Meghan, thanks for the insights.  I'm a programmer so data mining is my thing.  That's the logic behind my mailers.  I'm using the county appraisal district property data.

Dax, thank you as well. Any ideas on how to get a hold of the MLS data?

Andy

Thanks Meghan and Dax.  Appreciate your feedback.

How do you go about finding your local appraisers?  Google?  Is this public info?

Hi, I have a goal to transition from my day job into full time real estate investing.  It would be cool to build my own investment portfolio and earn a stream of income managing other people's properties for them.  I'd like to speed up the process - but how?  

I've taken a wholesaling class and have started a marketing mailer program sending out 600+ mailers last month.  Did not get many responses and none of them turned into a deal...  I plan to send out another 1,000 this month.  I'm testing the waters to see if I can make a living strictly on "off market" deals as a wholesaler.  Are the other reliable methods a full time investor (not licensed) uses to build cash?

Or, would it be better to get my real estate agent license to help earn a living while I do "wholesale" marketing and/or other types of investing strategies?

I've gotten mixed feedback on this topic...

Some say that agents are held to a higher code or standard that presents a conflict of interest when trying to buy properties significantly below market value.  I've also heard from investors that they don't want to become an agent because agents are expected to "know all of the rules," and therefore, cannot pull the "ignorance" card if they find themselves in court.  On the other hand, others say that having your license is an advantage because you can save $ on commissions.  You can also earn a stream of income managing other people's property.

So it there a law (or rule or understanding) that says real estate agents cannot buy properties at a significant discount?  i.e., 30-50% off as-is market value?  If real estate agents do buy properties with these type of significant discounts, are they more likely to be sued?  Or held liable?

If the answer is no to both of these questions, than why don't more investors get their license?

Appreciate any feedback you can give me.

Andy B

Thank you all for the advice, feedback.

Hi, I'm a newbie landlord and funds are getting tight right now.  I need to make ready a rental asap.  I need to replace floors throughout - 1,000 sq ft.  We haven't yet torn up the existing flooring to see what's under it - there's a chance the original hardwoods are still salvageable (1940's house) but not counting on it.  Even if they were, would that be the best and cheapest option for a rental?

For new flooring, we're looking at 'wood plank' in appearance.  I've been told the vinyl float click plank is worth the extra $ since it will last much longer than laminate click plank.  I'm tempted to get the cheaper laminate but have heard that it does not hold up to liquid spills well and is not easy to repair.

Any thoughts or advice?

Andy

Hi, I'm new to BP and a newby in real estate investing.  I've taken wholesaling course and that is my primary jump off point as far as strategy.

I'm also looking to buy my first rental property in the Fort Worth, TX area. Looking for a single family ARV 90-100K in SW FTW. Would be using cash from my IRA.

In general, I'm finding it difficult to get started as a new dad and a very part-time investor (weekend warrior).  Any thoughts and suggestions would be much appreciated.

Look forward to learning, networking and meeting some great folks. 

Look forward to it!

Andy Briggs