All Forum Posts by: Andy Collins

If you don't think it will add anything to your resume, then don't add, you can always mention it in the interview.  

Unless your filing a 'hole' in your resume, I'm not sure it would be helping you as an engineer, but it is really according to the exact type of engineering job your applying for.

"I have another offer and need your highest and best" is probable the most frequently used lie of any agent today.

Someone I know had an offer in on a REO, it was over 25% below the list, they came back wanting 'highest and best' because of 'multiple offers',,he stayed with his original offer,,,,he told me he would never trust another agent saying they had multiple offers again.

Now the funny part, he was a real estate broker that owned a Century 21 office for over 30 years and had recently sold it to spend less time working, if anyone knows agents, he does

I negotiate for a living, and I have negotiated just about anything you can imagine,,however, when someone tries to negotiate on lease terms I simply tell them that I have researched the rents in the area (which I have) and know the house is a very good deal at the price I have it listed for.  I actually price my rentals slightly below what I could probable get for them.

I don't blame them for asking, but I "shut the door' on that quickly,   after someone has been a tenant for a year or so, and they want something, then I will often try to find a way they can get what they want and I get something in return.  Maybe extending the lease, etc, for the new carpet or repainting a room.

@Brandon G. I didn't say you can't make money or cash flow with $150k houses, you can and I'm sure a lot of people do, but for me, the 'sweet spot' seems to be in the $100-$120k range.  

I was visiting a friend this weekend that lives in a rental in Coppell, The house was probable in the $150k range, but she is paying $1700 a month in rent

If your putting in tile, just make SURE you buy some extra and put it someplace you won't forget.

A house I bought had a tile hall/living room,,two tiles were busted up bad,,no way in the world to find anything that would go with the current tile and couldn't find a way to use something different,,,,ended up having about 450 sq. ft of tile removed and vinyl plank put down,,,2 pieces of tile would have saved me,,,i have tile in some rentals, I put a few pieces in the attic of the rental and some in my whop/warehouse marked what house its from

Honestly, the HOA is being unreasonable, but unless you want to spend a LOT of time and money fighting them, just add the grass they have requested

Even if you "win" a battle with them on this, you will have a fight on anything you do,, pick your battles,,,I don't see getting in a battle with the HOA as being one you will win unless you want to throw a LOT of time and effort into it,,easier to spend that effort on another property,

Your on the top end of the price range to work well, at least that is what I have found

A house in the $110-$120k range is what I look for,  houses in the $150k range tend not to cash flow as well, add our higher property taxes and that is even more true.

I prefer the suburbs with decent school districts, most of my tenants have kids still in school, normally they are looking for a particular school, so find the best schools and find houses that would feed that school (in some districts it doesn't matter, like Garland, however in Mesquite, the demand is for Poteet High School, so I buy houses that are in the area that goes to Poteet

If the bank accepted $270k, and that feel apart, why do they suddenly feel like its worth $355?  If its worth $355k, and they want $355k,, and its been vacant for awhile,,run away.

The longer a house sits vacant the less it is worth.  I had a house under contract for 11 months (short sale), when the bank finally approved I had it re-inspected, the foundation problem that was going to cost $3k, was now going to cost $15k,,,I walked away.

Sometimes a bank 'gets it in their head' a property is worth $x and won't accept less,,,but if $x isn't a good deal, walk away.

@Jon Klaus  I live in Sunnyvale, rentals in Mesquite and one in Garland, the Garland one is always the most expensive to insure.

I will say one reason my residence is so cheap, they (insurance company) put a new roof on a couple of years ago, and reduced my rate,,,sort of unusual, I have a rather expensive claim, and the result is my rate goes down!

andy

I pay about $1200 a year for my personal residence worth $330k,,,however I pay $1000-$1500 for rentals worth $100-$125k (what zip code they are in can make a big difference

The number you have for taxes is a little on the low side, I normally figure 2.7% of value (I live just across the lake from Rockwall so know the area well.