All Forum Posts by: Luke H.

@Benjamin Blackburn, regrading 30K property investment. I purchased a house in Denver Harbor park and it has been the least expensive I've purchased (foreclosure).  Yes, the area is still, umm, let's say just around or below working class.  Due to that and the property condition my costs (taxes/insurance) are the lowest of all my places.  So my profit margin is the best! Money every month...Not to mention it doesn't even have central air!

It was hard to rent at first, but now I get quality tenants that are looking to save money.  I have a big fence, alarm system, and good relationship with my neighbors.  I don't put anything worth stealing in there. 

Hopes this helps. 

Have a few questions about this statement.  This is in Texas.

Tax foreclosure sales are without warranty of any kind. Purchasers receive a Sheriff's deed that is without warranty. 

Q: What is, and what good is a Sheriff's deed that is without warranty?

Q: If I had this what are my rights for getting someone out of the house? Repairing and renting it out? 
Q: Can the owner come back later and purchase it back?

Any information here would be great!

What would be the best investment and why?

Should I keep looking for more rental properties to buy, fix, rent? (I think it is a seller's market in Houston).

Should I use the extra land I have on (in demand areas) of town and build garage apts (1 bedroom) to rent out for extra income or as airBnB?

Should I remodel the 2 bedroom/ 1 bath houses I have to make the 3 bedrooms/ 2bath and increase the rent?

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My initial plan was to build a garage apt (Ga) behind the house (Ha) that needs a full remodel.  Move into the garage apt (Ga) and remodel the house (Ha). Then rent out the house (Ha). Next, build another garage apt (Gb) behind another house (Hb), move into that garage apt (Gb) and remodel that house (Hb) and rent out (Ga). 

Now I'm wondering if instead, I should focus on finding more houses to buy and hold until I run out of capital and just keep fixing up the other houses when they need repairs.  This way the property tax bill stays as low as possible for the older houses and my net-worth grows with each rental purchase.

Feedback?

Thanks!  

This forum is the best I've seen for real-estate for many reasons... I'm looking for a forum like this one but for Stock market| 401 K| Roth IRA etc. I'm not very happy with the place I have my investments (Fide***y) and I'm looking for a change. I get the feeling they are looking at their best interest so I want other's advice.

If you have some links, forums, or any information please post it up.

Thanks!

@Roger Sandmann, thank you!

I'm up for learning more about maintaining my a/c units, the service is expensive to my bottom line.

@Jonathan Jaime Velarde - I don't make a habit of going to my rentals every month. I'm working towards automation so I can travel and purse other interest. If I went every month I'd just change them. If I wanted to pay a handy man that might work. Truth is, I try to get the tenant to understand how it benefits them to keep them changed.  Now, I'm starting to buy 12 every time I do my yearly maintenance and with new tenants.

@Jeffrey VanGilder Curious, what's it take to become a licensed hvac contractor? I do have something in my lease about scheduling and it helps.  I'll ask my contractors for a heat load calculation and about the duct design layout, just hope I don't scare them off.

@Gail K., i wonder/wish if there is/was a way to set a max and min range for tenants to be able to set them to.  The general thermostat gives too much control over such an expensive piece of equipment to people that aren't financially invested in it. 

@Justin Fox, I like your style and that was me in the past.  Due to wanting to travel more and do other work, I started working towards a more 'hands off' approach.  I see the need to have a balance.  
I'm in that rut of, if I want it done right, I have to do it myself...

@Chris Eaker, agree and I've started to buy tenants filters.  Only issue is making sure they use them...

@Account Closed

I check the breaker box, check the thermostat,  turn on fans, open windows, call A/C guy, wait.  The difference here is I'm willing to wait around the A/C guys schedule.  Sometimes it takes him 1-3 days to get to it. 

The tenants won't stop calling me, they say they can't stand it and can't stay in the house, say it is too hot for the kids.  I want to avoid injury, liability, etc...