All Forum Posts by: Chirag Mehta

Let me start this off with a bit of my background.  I own 5 sfr in San Antonio and rent them out with a property manager handling all details.  I am currently in the corporate world-tech sales and wanting to accelerate this business but taking a different and more complex route.  

I have my eyes set on a plot of land near my home where there is high income and significant traffic in a rapidly growing area in Cedar Park, Texas (north of Austin).  My objective is to buy about an acre of land, that is already leveled, access is being done, and utilities are going to be 5 feet from the property; and then build 3-4 shell retail spots on my plot, owner occupy one of them with a business and lease out the others.

I am meeting with a developer this weekend, but have some wrong numbers regarding the average cost of building a shell space.  I have meetings with my lawyer to discuss partnership contract and acct for the financial piece.

Since this is extremely new, I am building a team of a contractor, broker, loan officer, accountant, Lawyer and investors.  I have been interview these folks and almost down to the right folks.

What I am seeking from the community is experience from those that have done this and have been successful but also those that have pitfalls to learn from those to either not make the same mistake, or do what works.  I am happy to provide any and all detail and more so...if you are in the austin/cedar park Texas area and are looking to partner and you have experience in this area...I am all ears.

Thank you in advance to all that replied!

I will definitely try SimpliSafe and motion lights. 

Why is it illegal for me to want to put a deadbolt on a house that I own? Furthermore, there is clear evidence of drug use. 

So we have had folks looking at it. I fear they will come back and deter potential tenants. I agree that having tenants will alleviate... it’s getting the tenants in in the first place. 

Wasn’t sure if there is anything I can do to get the city involved because I’d the dangers presented with drug use etc. 

Agreed. The issue is... no internet ☹️

We recently had a tenant that just moved out.  The house has the water heater outside, and so we built a small room around it and put a door.  After the tenant moved out, we noticed beds and various other paraphernalia in there.  Basically there are transients that are living there and preventing this house from being rented.  

Steps I have done so far:

1) deadbolt that door

2) Lock on the outside gate

3) Setup a police patrol by

After the above three are complete are done, my hopes are that it reconciles the problem.  What I fear is retaliation and the house being vandalized. I do not live in the area, but close by.  Would love some ideas of other thing I can do to get these folks out.  They are doing drugs and defecating all over the damn place.  Was not sure if there is a way to have the city remove them or place them in a better place (homeless shelter etc)?  The home is in San Antonio, TX.

Thanks!  

We =myself and my Pm(who has been very proactive). 

Thanks all for the advise! We have reached out to him multiple times, through phone, email, knocking on the door and leaving a note and mailing a letter. His lease is up May 5, he just won’t allow(by not speaking with us) to show the property. The door is dead bolted and the windows are all covered. 

Definitely want to work with him and help through this. Can’t do anything if it’s one sided. I’ll keep trying till his lease end...from there, that is the biggest unknown, and I’m prepping for this guy just staying....

So, this is a new scenario to everyone and trying to be as emphatic to the situation.  I have a tenant whos lease is up at the end of April 2020.  We are wanting to put it on the market today.  My PM went to the house to talk with the tenant and was not able to.  Seems the tenant has changed his number also.  I do not know what to do when the lease is up and he is still there and NOT paying rent.  Given the whole covid-19 scenario, I do not know what my rights are as a landlord.  I do want to try to work with this guy and maybe help him with the rent if need be, the problem is, he is cut off all lines of communication with us.  I know I can forgo my mortgage which is great, but I may have a squatter in the house and not sure how to get him out or work with him.  Def want to get this house re-rented after he leaves and show the house during the month of April, but it is a safe presumption that this guy wont even let anyone in to view it...and the house is probably dirty as heck.

I live in Texas and my house is in San Antonio. 

Thank you Dan!

It is a single family. I also don’t want to have her leave without any ramifications. She saw the house and accepted it as is.