All Forum Posts by: David Hines

Are you getting the loan in your name or business name?

I would be very wary of any seller that discourages financing.  It could be that they know there will be lender required repairs that they are unwilling to do. 

Wow! It's hard to know for sure without seeing the contract, but that doesn't sound right to me.  Even if it is the bank's fault, at the end of the day, it is still the buyer's bank and therefore it is their fault.

Scott,

Congratulations on the promotion and welcome to Houston! Katy, Cypress and Sugarland are all great choices.  Less than 300k still presents a TON of options.  What are your other requirements? Like square footage, room configuration, etc. 

This article might be worth reading.  I agree with the author that charging tenants for maintenance might be a really bad idea.  If there is a problem with any of my properties, I want to know about it ASAP.  The last thing I'd want to do is encourage tenants to hide necessary maintenance.

https://www.landlordology.com/maintenance-request-fee-repair-deductible/

Check out the Houston Association of Real Estate Inspectors at www.HAREI.com.  Feel free to PM me if you have any other questions or need help with anything else.

Unfortunately, this one may not pan out for you. I checked the mls and the listing agent says there are many multiple offers already in. You'll find that there is a high level of competition for properties in this price range and I am reasonably sure that this one will sell for significantly more than 83k.

Our rental properties are in our names and not a business name. We are in the process right now of looking into transferring the properties into our LLC. After they are in the name of the LLC, will this impact the cost or availability of homeowner's insurance?

Caroline,

Welcome to BP!

Jacob, Be very cautious trusting Zillow values, they are notoriously inaccurate. You definitely should weight the CMA from a Realtor much more heavily. Good luck!