All Forum Posts by: Ayo O.

House is move-in ready in the Energy Corridor(Katy,Texas)Average household income in this area is $100K. New carpet and paint (2 months old)Kitchen may can use some updating(not necessary for rental) Replace broken kitchen drawer,wall switches and smoke detector.Touch up paint and adjust fence.Do your own due diligence.

If you have been standing on the sideline like I did for several years,its time to jump in.Take a step of faith and everything else will fall in place.If you are buying for a rental,I may be able to help manage the property for 1 year for a very small token.

Pictures here

https://drive.google.com/drive/folders/1VnONeSKl6N...

@Dean Attali sounded like one of my tenants.They intentionally broke the water heater a day after rent was due and got a $2300 estimate to replace the unit.From my experience, most tenants that make unreasonable demands are usually just looking for an excuse to justify non-payment of rent. I have had enough after just 2 months and I have filed eviction after my initial offer to let them break the lease was not taken.

@Roger Roth I think the answer to your question depends on who you ask.I personally think it's starting to slow down and the conditions are just not right for s healthy market.Things like longer DOM, larger than usual inventory, climbing interest rates, are all tell take signs on an impending market correction.I don't think it is a widespread slowdown yet but seeing several homes sit in the market for 5-7 months,bothers me

@Mark Sewell thanks

@Cody L. thanks

Can someone recommend an eviction attorney in Houston Texas. Thanks!

@Jason DiClemente yes I have title insurance with warranty deed

Dear BP,

I am in the last stage of Delayed Financing for a property I acquired in August of this year. Closing was done last night but the title company raised a red flag this morning saying the previous owner did not sign deed over and  as a result still have ownership interest in the house. I had purchased this house for cash from a wholesaler in Houston,TX

Title company needs her to sign the deed over before they can fund my loan.This is where it gets crazy, I was just informed that the lady the sold the house to the wholesaler  was not on the deed and had no authority to do so.I belief that the homeowner had passed on and that was how family members sold the house. In a nutshell original homeowner family sold house to wholesaler(took title) and wholesaler sold house to me. wholesaler said they are working to resolve the situation.

Questions:

Has anyone experienced something like this what was the part forward?

Thank you all for your input!!

I was wondering what everyone else is doing to protect their rental units from damages by tenants.I typically collect 1 month as security deposit and require tenants to carry rental insurance policy( which most don't keep current)I also have landlord insurance policy however, I think the security deposit may not be enough to cover most damage cost. Is there any insurance policy that specifically insures against damage to rental units. TIA