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All Forum Posts by: Cameron Marmon

Cameron Marmon has started 16 posts and replied 57 times.

Post: Dallas builders/developer directory

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

Hey Telless, you may check out the Dallas Builder Association. Basically, home builders, suppliers, etc. can be members and receive benefits for their membership.

https://dallasbuilders.com/

Post: Recently rented homes

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

In the past, I have looked at the homes that are listed for rent and been on the market for awhile to give me an idea of the ceiling for an area. That info obviously won’t tell you what homes are renting for, but it does tell you what they aren’t renting for. 

Post: Recently rented homes

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

I think there is a filter for that on Zillow, otherwise an agent can pull that data from the MLS.

Post: Meetup Location Recommendations?

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

Fox and Hound in Richardson on Campbell may be a good spot. A group used to meet there regularly. 

Post: Repairs using tenant security deposit

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

Thank you for all the replies folks! Y’all have been very helpful!

Post: Repairs using tenant security deposit

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

Hi - I successfully completed my first year as a landlord. Overall, things went well and the tenant left the property in good shape. However, there were a few repairs I needed to make. 

I'd like yalls opinion on how or if you would charge for these repairs. 

Also, can I charge a reasonable rate for my time to make some of these repairs since I did so myself (i.e. fixing the wall, touch up paint, cleaning the carpets, etc.)?

Repairs:

- I had to get the front door re-stained to fill a nail hole and cover dog scratch marks. The door was showing very minor signs of wear at the bottom corner, but did not need to be re-stained. Her dog ultimately ruined the finish to the point it had to be re-stained, not to mention the nail she put through the metal front door.

- Had to clean up a few stains on the carpet (NOT normal wear and tear) , which required me to buy stain remover 

- Had to have a DirectTV satellite removed from the roof. The satellite was not required to have cable at the property. There are other affordable providers available.

- Had to fill and repaint a decent sized wall gouge that was put there when moving her dresser down stairs. That required me to buy wall putty and repaint.

- Had to do a lot of paint touch up in the stair well area. Im assuming from moving stuff upstairs/down stairs. Not something I would consider normal wear and tear given how marked up everything was.  

I appreciate your thoughts and opinions!

Post: New Dallas Developments

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

I pretty much rely on Dallas Morning News and Dallas Business Journal. Bisnow is decent. You can select your cities and areas of interest so I stay semi up to date with DFW, Austin, and Houston developments. 

Post: 2 out of 5 year Captail Gain exclusion

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

Hi everyone, I’m familiar with this rule and believe I qualify. However, I have never sold a home before and I’m curious how is this proven? Do I need to start gathering proof of my 2 year occupancy? Do I sign a form at closing stating I lived there for at least 2 of the last 5 years? Any help on this is appreciated.

Thank you!

Post: Should I sell my investment property or hold on to it?

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

@Robert Steele and @Erion Shehaj Thank you both very much for your detailed replies. I greatly appreciate it. Gives me much to consider.

Post: Should I sell my investment property or hold on to it?

Cameron MarmonPosted
  • Investor
  • Richardson, TX
  • Posts 57
  • Votes 5

Hey @Robert Steele. I was hoping you would chime in. I actually saw a previous post of yours where you mentioned you have sold a few of your properties, which made me start to consider selling.

Why did you rent it out to begin with? This has been my plan since I was a teenager. Buy a house, live in it for a little while, buy another home, rent the previous....My Dad's friend did it and owned almost a whole street. So it has just been a long time goal of mine. Obviously, his situation and timing was different than mine. It is not working for me haha.

Is this your only rental? Yes sir. This is my only rental.

Do you need the equity? I do not necessarily need the equity, but it is holding me back from making further RE investments at the moment. If I sold, I can be in a better position to buy 2-3 properties or make some alternative short term investment. The more I think about this sitituaion the less it makes any sense, especially with the AC going out on me. Add in the risk of the high-end finish out getting damaged, the cost and time of re-leasing, etc.

Do you need the cash flow? Fortunately, my salary supports me fine. However, if I do not get someone in the place almost immediately after my current tenant moves out then it will be a tough time as I will have to cover 2 mortgages.