All Forum Posts by: Michael Bracken

Hey now, My rent house is Garland Texas and the property taxes are a full 1/4th of all expenses.

I see advertisements for these law firms that will contest you PT for you and take their payment out of your savings? I guess I need to read the fine print. It might not be worth it if they eat up all my tax savings in attorney fees.

Any experience using this kind of service?

Joshua Hollandsworth You are a smart guy for sure. I only wright short posts with short answers🚀 But when you say NOT AS MUCH saving for capex that's just code for NOT AS MUCH saving for capex. Hopefully that will be good. But we should save hope for the future not for real estate 🏡 right? 😇

Have you ever paid for plumming? 5k on a SFH is change. Investment lenders want to see cash reserves for a reason. You got to have reserves and budget for capex for a lender to consider your property to be a great asset. 🤑

Joshua Hollandsworth If I understand you correctly your saying " why have a cash reserve if your going to budget for capex" or the opposite "why have a cash reserve?"

Have we all been there? Today is my birthday and my dad asked me how I felt to be 45? I said "Great, but I'm concerned for my financial future." "I'm going to refi cash out my 2 props and buy another." I said. "Oh, that's to risky." "What you need is cash, save your cash." Thanks! I love you Dad but I felt like I was in an episode of "Rich Dad Poor Dad!" Has anything like this ever happened to you?

Finally I made it to the end of this post! What an emotional ride. I have local experience with class D homes in south Dallas. There is a block by block technique I learned. Don't know exactly how to "correctly explain" in a public forum. Would be glad to by PM.

@Steve Babiak Brandon just said " An application fee is important so people have some skin in the game". He's talking about people going around town applying all over the place hoping to make one stick. I don't know if "most" professional management companies would go to the detail of all the things Brandon is talking about in this book. As of the time of the books production he seems to indicate that's why they prefer to manage themselves.

If landlords would do all these things that are described in this property management book by Brandon Turner available in the BP bookstore. I am sure they would have a higher quality tenant.

That's great insight. I can see how desperate folks would do that. Im listening to the Brandon Turner Rental Property Management Audio Book right now as a matter of fact.

Ask the neighbors to keep an eye on the property. Give them your business card. They are already incentivized to snitch and will probably be your best source of information. Make sure to check your local and HUD laws.

Some people would be surprised at how effective a $25.00 application fee is at weeding out undesirables. That is why you have it...right??? ; )