All Forum Posts by: Diya Sharp

I've found that new/refinished carpeting/flooring is must to get a good price on your property. If you can deep clean and get the stains out, then stretch it again it might work too - depending on the condition it is. Wouldn't bother with the drapes since it is almost entirely based on individual taste - some like blinds, some like natural fiber drapes etc. I'd make sure they are clean though. If you can mulch the back yard, that would help as well.

There are areas in Houston that still fall into this, in spite of our recent real estate price boom. The key is looking for something to fix up and making the right rehab work for the area you are in. I've always only dealt with single family homes, this maybe different/better for multi family.

If it's not a quick fix/flip it should be fine. I've remodeled a house next to a well maintained cemetery and it did take quite a bit longer to sell compared to other properties in the neighborhood.

If the father won't consign, please don't lease to them. You will have a lot less headache if you find another tenant.

Find a new management company right away! Start eviction process. You don't run your business on pixie dust and cupcakes, so it doesn't matter how "nice" the tenant is, if they run up utilities on you, you may end up having to pay a lot more at the end to clear the account.

It could also be heat related warping. I've seen the floor above the garages warp/cup in very high heat. It is a simple fix - just sand and refinish the floor and make sure temperature in regulated in the summer (can be a challenge while renting).  If the issue is water,  you may need to replace the floor instead of simply sand/refinish as there could be a mold remediation that needs to be looked into depending on how long the water has been there.

Yes definitely get a security system for the property. Also, try to meet the local law enforcement patrol officer and make your concerns known. You can also introduce yourself to the neighbors and politely request that they call the authorities if they see any off work time activities. I've had issues just like this before at a rehab, they were workers that worked on a property not too far away and were trying to break in and steal the appliances. Luckily, my neighbor heard the commotion and called 911 and gave them the license plate to their truck. Definitely protect yourself and your property!

I don't rent to people with multiple pets. I learned the hard way after one of my rentals was drenched in cat pee. Awful !

I have FSBO ed in the past on a fixer and while it sold, it took some time and it was a pain. I now use a friend who is a Realtor who cuts me a deal (1.5% for 0 - 500K, or lower on properties with higher list price.) A lot of people have asked me...why waste the money paying a Realtor when you could easily get a license in Texas. Well, I don't have the time to show the property but moreover, he is completely worth it because he is an expert in the area and the types of homes I rehab. He has been able to use his network to get me offers my properties before it has hit the MLS. A good Realtor is key to your success in selling properties in a timely fashion, and especially if you are investing on the side.

Thanks again everyone. I think I really just avoided a huge land mine. And maybe I did the couple a favor as well, because after speaking with them tonight, I really don't think they know what the buyers in the area are looking for in a high end rehabbed home. I'm negotiating with the cash offers now and hopefully close by the end of the month.