All Forum Posts by: Dallas Hayden

With rent rates increasing so quickly, I suspect OP wants more flexibility in his lease. Suspect he doesn't want to be stuck with a below-market rate at the end of the lease. Another issue is longer-term rentals IMO offer fewer opportunities for inspections/ more opportunities for damage. I'm not crazy about long-term rentals either. 

Hey Fabian,

Sounds like you have some fantastic deal-finding abilities and already lots of experience! As a fellow younger investor, I recommend focusing on cash flow for the shorter term. I'd suggest pursuing a parallel RE career to help there. Perhaps you could move for your real estate agent license? The experience, connections, and knowledge you will gain can help tremendously with your future investments. 

A few years ago, I secured my Irrigator's license after attending college. Now I'm applying to law school with a focus on RE. I advise always keeping your income-generation options open. I know people in TX who didn't and were wiped out in the 1986 Savings and Loan crisis.

Best of luck!

IMO cultural pest control practices are best. Heavy spider infestations can be a sign of water damage or rot. The spider migration may even indicate a termite infestation... Treat/remove the food source and the spiders will become less of an issue. Spiders are unaffected by most insecticides anyway. 

OP, definitely talk to a lawyer about this issue if you want to pursue it further. Unless things have changed recently, this advice is generally not accurate in Texas. Easements in TX are complex and case law has evolved over time. I'm also not an attorney either but deal with easement issues fairly routinely. 

If this is a rental, install a grease trap. 

Sorry to hear about the situation! What does your contract say? 

P.S. Definitely do your own research on remediation. Regulations/requirements may vary by location and this doesn't constitute professional advice:

I've helped remediate a couple buildings and IMO the best solution is to toss all porous things and thoroughly clean all hard surfaces. I've never had any luck with o-zone. Do you have a hardwood floor? If so, worst case you may need to sand and reseal. Wet clean and paint the walls and ceiling. 

A bathroom at one of my properties (purchased through a tax sale) came with human feces on every surface (and a giant pile in the tub). I just threw on a suit, gloves, boots, etc. and started shoveling it out. The fridge was filled with liquified rotten meat and kitchen was covered in maggots. Now after a thorough clean and paint the place smells nearly brand new.

Tankless water heaters run only on-demand and require a tremendous amount of power to heat water quickly. Even smaller electric ones can require multiple 40a breakers. Once you approach 10 gpm electric power demands would be prohibitive for standard residential electric services. 

Who wants to pay top dollar for a culinary grade electric stove when gas is available? Electric doesn't cook as well. 

Gas is critical for 2 things these days: larger tankless water heaters and higher quality stoves. Otherwise, electric can work very well. 

Not sure what you are talking about with Public Works. I don't know of a City in N Texas that will pay to install public roads just to serve a private development. Why should they finance your development with public dollars?! Frankly, I would be pissed off if I discovered that my community was using my tax dollars to install streets in a private development. IMO you should be grateful if a City agrees to take over long-term public maintenance of your streets. 

Regardless of time elapsed, the driveway may or may not be an easement issue depending on many factors. Suggest consulting with an attorney if you decide to pursue this property. Would the 2' impact your ability to redevelop the property in the future? Would it make the lot "non-conforming"?