All Forum Posts by: Edward Beck

Awesome.  Happy doing business with you my friend.  

Asset appraisal ask for dan Oleary.  Tell him I sent you guys.  😉

I like the brick.  Hope you do well on it

 Not sure why.  

Should rent within a month.  What’s the rent rate?

How big?

Are you using a property manager?

Condition?

All these is reason any property in any area in the contry would have problems renting.  

the area is crazy hot for rentals.  What are you looking at?  

I’ve been investing in Realestate and only in El Paso for 14 years.  I’ve bought and sold over 1000 houses.  I also wholesale so if you looking for a deal dm me.  But El Paso isn’t a hot town for flips.  It’s rental market is great but not crazy either.  That said the best part about El Paso is the same thing that makes it bad.  Let me try to explain.  The market is slow to increase in values and retail rates but when 2007 hit it wasnt the end of the world.  Because we didn’t really start to bubble until the tail end.  Also the steadiness makes it easier to  predict.  Always look for more cash buyers.  Hope it helps

Yeah it’s a used house in a new subdivision.  Hard to sell.  Also El Paso is still a Buyers market.  I don’t think it will sell fast with a tenant.  Also I’d look at comps really good to see what’s sold in the area.  Don’t let your agent go to far out away from your property.  Focus on the location.  Very easy to pull a bad comparables if your Realtor doesn’t know what he’s or she doing.  If you’d like a good recommendation for a realtor I know the best on the westside for used houses.  Feel free to reach out.  😠tenants

Alex sorry to hear this.  I have over a hundred rentals in El Paso and feel your pain.  It kinda reminds me of when I started.  Tenants don’t pay on time.  It’s just part of it.  Shoot they’re usually late in the worst possible times.  Christmas time ect.  I’ve found it’s better to have a high late fee.  $50 late fee on a 2k payment is very low.  Late fees don’t even hold up in JP anyways.  I do 10% of the payment on the 5th and 5 bucks a day after.  Yes i know it’s crazy high but they choose to pay me rather then car and cell phone because my fee is so high.  So I’d make sure the demand letter doesn’t include them.  Also I don’t really bug or threaten them I just file on the 15th.  No matter the story.  Due mostly because it takes so long to remove someone.  But tenants will make your life miserable if you let it. But every so often they will be great. Oh one other then I’d say.  I don’t rent houses with high rent.  2k in El Paso is a very nice house.  I don’t rent anything above 800.  I totally agree with Jim.  Get an attorney lined up.  But don’t pay yet.  Just to go to JP.  The tenants might pay or might leave.  Very few ever go rob JP court.  

I have a Meetup real estate investors network.  Feel free to contact me to get connected.  We meet regularly.