All Forum Posts by: Al Bunch

1) Did she note the plugs as being faulty on her move-in inspection?

2) You've already set a precedent by letting her slide on a previous repair deductible.

3) 3rd or 4th repair call for a "new" tenant - are there tenant issues or house issues?

Dropbox.com

Create an account, load it on your pc/mac and your phone, turn on automatic photo sharing on the phone. Every photo you ever take will automagically upload to your dropbox camera folder. Problem solved.

edit:

You can even tell the app on the phone to only upload over wi-fi if you don't have the available data in your plan.

^^ What she said.

Personally I'd terminate based on mutual agreement with the seller, leave the door wide open and sit back and wait...meanwhile chase a few other more promising deals.

@Lashinda Winters Can you pm me the address on that property? Or email it directly to me - my contact info is on my profile.

@Account Closed are you interested in it sub2 if the rents are what they say they are?

Tim - there's no better time than today to break into a new area and this one is begging for a buyer.

@Lashinda Winters If you know someone personally that's interested in doing a Sub2 that you trust not to take advantage of the homeowners - I mean really trust..then you might consider that as an option, but the numbers have to be there for the person doing the sub2.

K. Marie touched on the subject of credibility - you may have lost a little with the seller so if you do a handoff to someone doing a sub2 they need to be well funded and able to perform with no hiccups. Your name and reputation are big deals in real estate, so acting with integrity and being up front and honest in your dealings is what will carry you much further than this one deal.

If it were me, I'd lay my cards on the table and explain to the homeowner how the process works from my perspective and try to get them in my corner so we can both work to get the deal finished. You'll either wind up with allies or you'll be able to walk away from the deal knowing you gave it your best shot.

BTW - check the ordinances on bandit signs in your area before you put them up, they're illegal in most areas around Houston. If you do, and they are, be prepared for a possible fine.

Lashinda - you're on the right track for marketing. Have you posted it on BiggerPockets in the marketplace? (I see you're a Pro member)

Exhaust every marketing opportunity you can possibly find and up to and including the weekend "Great ROI rent house 4 sale - Call xxx-xxx-xxxx" bandit signs in the area around the property. There are also meet-up groups (and other groups) in and around Houston teeming with investors looking for deals.

This one looks razor thin to me, but you never know in the market we're in.

Located in Tomball, TX (suburb of Houston very close to Spring, TX - within reasonable driving distance of Exxon's brand new building)

ARV $103k

Rent $1350/mo (Avg DOM 16)

Needs $5k in repairs (miscellaneous cosmetic inside/out)

All major systems in good or excellent working order.

Includes laminate flooring for front and master bedroom.

Roof replaced and re-decked in past 6 months.

AC replaced in 2008 in/out.

AC ductwork replaced same time as roof.

All interior re-painted in past 6 months except master bedroom and bath.

I've got it under contract but I'm not sure what I should be selling it for to a buy-and-hold investor.

Lowest price home in neighborhood in MLS priced at $75k then a jump to $93k - both pending, then another at $100k and they go up from there.

Any input greatly appreciated.