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All Forum Posts by: Shanequa J.

Shanequa J. has started 62 posts and replied 864 times.

Post: Landlord does no repairs

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

Call the city. They will send out an inspector to check the living conditions. If it's really bad, they will condemn the building. While the repairs are being made, the landlord will have to provide you a place to live.

Post: Plase help me decide - Exterior with photo

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

Maybe you can do the shutters and door the same color as the brick. Or if the brick color is too bold, paint the brick and the house a neutral color. P.S. Someone picks out all the items pertaining to design for me.

Post: 4 foreclosures on one block

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

What is an AITD?

Post: Stop Doing Business With BofA!

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296
Originally posted by Bryan Hancock:
A low rate of 5.3%?! That is pretty steep for rates right now. Wholesale conforming rates are 4.345% right now for 30-year money!

How is that rate steep for a new investor? Maybe in the future when I become a seasoned investor like you and can show more experience in maintaing rental property, I will qualify for the absolute rock bottom rate. But until then, I'm satisfied with my rate considering that I know some owner occupied buyers can't get that rate.

Post: Stop Doing Business With BofA!

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

I just got a mortgage loan with them. My loan officer was very nice and speedy. They gave me a low interest rate at 5.3%. I'm living under a rock also like Richard.

Post: Vendee Financing

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

The two main ones are a lender administration fee ($2500) and a VA funding fee(2.5% of the loan). For an investor, they will only pay 3% of the closing. It changed this year.

Post: Vendee Financing

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

Yes, VA Vendee is still available. The problem is that they have so many fees you have to pay at closing. But I guess it's worth it, since it's only 5% down.

Post: What are you other than a real estate investor?

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

I joined the Army for 6 years after high school. My job was a surgical tech. I got to see a lot of blood and guts. Currently working as a surgical tech and just graduated from nursing school.

Post: How much rent to charge?

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296
Originally posted by Tyler S.:
I only see tenant screening, mortgage rates, task manager, and find foreclosures

Here's how: Resources-Landlord tools and resources-Fair market rents.

Post: Where would you invest $12K?

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296
Originally posted by Curt Davis:
IF you purchased a home for $10k cash move in ready I would be scared of this investment as your rent will be lower then $500 per month. You will have more maintenance, theft and vacancy then you would ever want. This is not a smart move for a new investor. You would be setting yourself up to loose bad.

It sounds like you want to buy a home for cash flow buy and hold, not to resell. Use the money for a down payment on an average home that will rent for around $700 in the $35K range.

I agree. Where i'm located, if a turn-key house is bought for $30,000 or less, then it will cost so much money to maintain due to low rent, damages, vacancies, etc.