All Forum Posts by: David Light

I should also say I have access to private financing with 20% down and a 5% interest rate. Family friend.

I'm moving to London for my day job and selling both family vehicles. I'll have a little over 20k from the proceeds. Do I? 1. Save the cash to buy cars when we return in two years? 2. Buy a house and use the cash flow to buy cars when we get back? We currently have two properties. 1 leased and cash flowing around 300 a month and the second currently leased but tenant is moving out July 15th so I'll need a new tenant and some quick repairs. Should cash flow 300 a month when it's rented august 1. Plenty of interest so I'm not concerned about getting it filled. We have family that manage the properties while were gone. Any advice is appreciated!

Agreed the listing agent isn't doing his job. Didn't say a word about the wife needing to sign this deed paper for 30 plus days of having the house under contract and negotiating repairs. All contract documents have only had a place for the husband to sign to date. The title company mailed her a packet to sign for closing because they have a copy of their divorce agreement and read it. I'm debating filing a complaint against him when this is over. I have the husbands name but not hers because it's not on the tax records. I'll have to do some research on that.

That's what I was thinking. Listing agent is a real piece of work. Time to see what other deals are out there and determine if this is worth the hassle. Thanks for the feedback.

how do i get her contact information? the listing agent won't give it to us....

Need some advice on my current deal. We signed the contract a month ago with the property owner (x-husband). Turns out in the divorce papers from 10 years ago it says the x wife has to approve the agent and sales price. The x husband chose not to tell her until we were scheduled to close and now she's not signing a deed paper that she has to sign for us to close. The contract ends today. She's ordering an appraisal as she thinks the sales price is to low. Do we just wait on her to make up her mind or walk away and get our earnest money back? The. X husband and we have signed. Just waiting on the x wife....

Hey Greg, we live in Houston but my wife's family is in Abilene so we're there pretty regularly and have liked the houses we see there. Her dad is handy and does a lot of the repair and her mom collects rent for us. We currently have one on Sugarberry that is renting for 1295 a month and recently found this one at 587 scotland. I didn't really want to be in the flip business. I like buy and hold better so was planning to do that with this one. Given we're farther we also have wanted to get in newer houses that don't need as many repairs after the initial rehab.

I may have to rethink this if you're getting 500 a month on an 18k house....

I should also say looking at the rental comps they are not updated and renting for those prices.

Thanks for the feedback. There's no way the seller is going down in price. Already tried....should I lower my rehab budget or walk away? The above Rehab numbers included updating this place to be pretty darn nice (new interior doors door handles, floors in the whole house, remodel to the kitchet, etc) and wondering if I should just keep it more basic to get it rented and fix things more over time as I want?

good point. repairs listed above are for renting. to flip it would be more like 19,500