All Forum Posts by: David Light

We looked at a house that had a pool and ended up passing for liability reasons. I would definitely take Alex's advice and sit down with a lawyer and insurance company. I'd also be very strict during the screening process to find a top notch tenant. Maybe you can find someone that's had a pool before...

We (my wife and I) have three properties in Texas and manage them from London. We use a google voice number to keep in touch and handle collecting rent and maintenance calls. When a repair is needed we call family that lives close to the houses to either fix the house or meet the repairman we've scheduled at the house if needed. 

We've had some challenges with a tenant paying late and had to mail notices from London to their house but have managed through it and collected each month.

Does anyone else use family to help mange the properties and if so do you pay them? Our family has refused to accept any payment for checking on the houses and fixing things here and thee.

I'd be very interested in the ebook when it comes out!

We use first texas title. All of our contracts have been basic cash closes so not sure how they are with double closings etc. Overall, the customer service and experience has been much better than other title companies in Abilene. Let us know what you decide and how it goes. 

I used to live in Richmond and everyone talked about the flood zoning changes. Do you think a rental being in the flood zone matters?

I have three 3/2's in the Abilene area and have had great experiences there. Would be happy to chat further via PM.

I'm with Skyler. I'd look into refinancing. You might get a better interest rate, lower payment, and better cash flow.

Thanks for all the input. @Joel Owens I would have a legal note drawn up for sure.

@Delon HallGood point on the need money. I could live without it, would just have to figure a few things out. 

@John HyattThe first flip took 5 months as my partner did all the work, almost a full gut job, after working his full time job. The house turned out amazing in the end. 

I think I'll see what deals he comes up with and consider loaning some of the money I have if it's a great deal, keeping a reserve so I'm not in trouble if things get delayed. 

I currently live in London and have some money in the U.S. I'll need to buy a personal residence and cars when I return in July 2016. My question is should I loan this to a business partner who wants to complete a flip? I would put in the terms that it was due back in 9 months and have had good experience lending on a flip with this person before. Is it worth the risk of something going wrong and not getting paid back in time? It sure would beat the bank interest rate if I just leave the money in my savings account. Anything else I could do to safeguard myself?

@Trey Leigh - sent you a PM with a realtor recommendation. I have two positive cash flowing properties there. Currently it seems to be turning into a sellers market and I'm finding it harder to find a good deal.

My realtor is actually calling expired listings for me now to see if she can find a motivated seller and get commission on both sides of the transaction. Easy for to wait for her to find the deal. Anyone have success with this?