All Forum Posts by: Allison G.

Hi @Blake Albertson,
Sorry that this is happening. I know it causes quite the financial strain. She will need to immediately send the 3 day Notice to Vacate for nonpayment of rent. I imagine the 30 day was due to the ordinance that was in effect previously but those days are now behind us. Please ensure that the 3 day includes all parties on the original lease as well as "ALL UNKNOWN OCCUPANTS". I also agree with several others comments to send violation notices in writing (this can be informal means or on the 3 day itself) If you list on the 3 day, it still needs to be clear that the notice to vacate is still for nonpayment of rent. IMO, this is just to bolster your case only. The mold claim is a non-issue. She was not given an opportunity to remedy. Good luck to you!

Hi Skye, I applaud you for the interview- it's a BIG decision and it seems like you are doing it right. 

I am a property manager in my local area and self manage out of state properties and did so for years before even stepping into PM role in Texas.  I also remember the harsh reality of determining true net when I started... flips were especially hard for me swallow at times. Look into a good online management software and you can definitely manage a couple of doors yourself. Next find yourself one great handyman and couple of go-to "specialty" contractors such as plumbers/electricians. Make sure all contractors know your policy of approving charges before work is started. Also make sure they are able and professional enough to handle coordinating appointments with tenant directly so you aren't constantly playing appointment setter. After that make sure your lease is ironclad. Require maintenance to be submitted in writing so it can be vetted appropriately. Ask for supporting pictures, charge a first time trip fee to minimize frivolous submissions. Most importantly make sure they know how to shutoff water, flip off main breaker, etc. I like to provide an informational magnet.. seriously. Very few things are actually an emergency in this industry. 

Hope this helps. I am not downplaying PM's role at all obviously- I know the value my team brings to our investors. However, I don't want to discourage you from experiencing managing your investment on your own. It's doable. As far as some of the other comments- I don't charge renewal fees, I don't get paid a management fee when the tenant doesn't pay and pass on all late fees to owners. We are 6.5% in the DFW area.

Flip opportunity in desirable area! The most comparable as-is flood homes are selling in the $355,000-380,000 range. There is very little information on what this home will sell for once remodeled, however indications are at this price, there is a TON of equity capture.

Budget includes:
Foundation work
Replace 1 HVAC system
Flooring
Drywall, paint, texture
New kitchen
New Bathrooms
Doors
Exterior work
Electrical
Plumbing as needed
Landscaping
Extensive Misc

This is an assignable contract. Please message me with your email to view all property information including full address. We will include rehab breakdown, comps and additional pictures.

Allison, [email protected]

ARV: $599,000

Rehab: $67,563

Close Date: June 22nd, 2018

What a deal on a home that has never flooded!  Homes with some updating on similar lots in this neighborhood are selling in the $600,000-$650,000 range. However nothing has been thoroughly remodeled in the manner of the budget above.

Budget includes:
Possible minor foundation
Plumbing updates
HVAC system (may be fine- newer Goodman unit)
Electric panel and misc electrical work
Flooring - hardwoods, tile, carpet
Paint and texture
Kitchen - cabinets, granite, appliances, back splash
Complete remodel of both bathrooms
Doors
Garage door and opener
Exterior work
Landscaping
Demo
Miscellaneous

This is an assignable contract. Please message me with your email to view all property information including full address. We will include rehab breakdown, comps and additional pictures. 

Allison, [email protected]

@James Wesley I would love to discuss further with you! I am a local property manager that works exclusively with investors. I understand the frustration of dealing with poor management as well as how nerve wracking investing out of state can be (most of my personal rentals are in Ohio). Check out my site- rentblueatlas.com. 

Hey there, @Tony Karns. I manage Blue Atlas Realty which was created because of pressure from Dfw investor clients that werent happy with current PM. We are extremely investment centered and analytical. I would love to hear about your needs & will send you a PM!

ARV: $289,000

Rehab: $40,840
Price: $184,000

Deposit: $3,000
Close Date: April 9, 2018
This is an assignment on contract, no double-close fees.
Buyer pays all closing costs.

A rare opportunity for a flip in extremely desirable Lake Highlands. This property sits on a good sized lot within walking distance of White Rock Lake and minutes from Casa Linda shopping and entertainment. This is a great deal where we project more than 22% equity capture.

Comps:
1) 836 Lake Terrace Dr: 3/2/1, 1,442 SF. Sold at $362,000 in 11 days. This property was mostly updated but retained some of its original features.

2) 881 Lake Terrace Dr: 3/2/2CP, 1,508 SF. Sold at $390,000 the same day it was listed. No interior pictures for this property but the speed of the sale indicates just how desirable this area is.

3) 9735 E Lake Highlands Dr: 3/2/3, 1,547 SF. Sold at $404,000 in 2 days. A comprehensive remodel similar to what our budget includes. An extra two-car detached garage boosts this property’s value.

The rehab budget includes:
Roof
Water heater
Electrical
Windows
Hardwood refinish and tile
Paint
New cabinets, granite countertops, and backsplash
Stainless steel appliance package
New bathroom vanity, toilet, tub, and tile surround
Front and back doors
Garage door
Exterior work
Miscellaneous
Demo

Please ask about our Project Management and Property Management Services

*Information provided is estimated and not guaranteed. Please do your own due diligence.
Whitestone Acquisition owns a contract for sale on the Subject Property and does not own actual title

ARV: $434,000

Rehab: $75,093

Price: $249,000

Deposit: $3,000
Close Date: April 5, 2018 *can likely be extended
This is an assignment on contract, no double close fees.
Buyer pays all closing costs.

This home gives you the opportunity to flip a large home with a pool in the desirable Westbury neighborhood. The exhaustive suggested rehab budget should bring this property to the top of the market and earn you above average returns.*This home did not flood during Harvey and from the seller has never previously flooded.

Comps
1) 5214 Redstart St, Houston, TX 77035: 3/2/2, 2,113 SF. This property sold at $380,000. A comprehensively remodeled home that sold in 31 days. The rehab budget will provide a similar finish out for the Subject Property.

2) 11106 Endicott Ln, Houston, TX 77035: 3/2/2, 1,980 SF. This property sold at $389,000 in 25 days. This home had a pool and complete, albeit traditionally-styled, remodel and is significantly smaller than the Subject Property.

3) 5202 Redstart St, Houston, TX 77035: 4/2/2. 2,441 SF. This property sold at $393,100 in 4 days. The most recent comp, this property was fully updated and sold very quickly, suggesting it may have been underpriced.

4) 11202 Endicott Ln, Houston, TX 77035: 3/2/2 2,230 SF. This property sold at $425,000. With a complete renovation and large corner lot this home sold at the top of the market. However, the Subject property offers two more beds, one more bath, 1,000 more SF, and a pool.

The rehab budget includes:
Foundation
Roof
HVAC service
Water heater
Windows
New tile, carpet, and hardwood refinish
Paint throughout
Granite countertops, new cabinets, and backsplash
Stainless steel appliance package
Complete bathroom renovation x3
Front and rear doors
Pool replaster
Exterior work
Landscaping
Miscellaneous

Bedrooms: 5

Bathrooms: 3.1
Garage: 2
Year built: 1976
Lot size: 0.361 acres
*Estimated SF: 2,727

ARV: $339,000
Rehab: $42,270
Price: $234,000

Here is an amazing opportunity to get a large, high-dollar investment property in the extremely competitive area of the Metroplex. This home sits at the end of a beautiful cul-de-sac and on a larger lot than any of the comparable properties. Please message us with your preferred email address to receive analysis email w/ full address, pics, comps. This is an assignable contract- cash or hard money. Thanks!

Message on BP, Email: [email protected]

Call/Text: 432-254-9085

Incredible cash flow on this Baytown home that just needs you to clean up and finish out.  

This is an assignable contract. Please message me with your email to view all property information including full address, rehab breakdown, comps, and additional pictures.