All Forum Posts by: Gautam Venkatesan

Hi Thomas - just trying to understand your comment. Accumulate wealth through mortgage paydown or appreciation or something else??? How do you plan to sell all your properties without a huge tax event?

Why you must file a Texas property tax protest

https://www.dallasnews.com/news/watchdog/2017/04/20/file-texas-property-tax-protest-must 

 If it isn't specified in your PM agreement you may want to reach out and find out about other fees when things go bad. Like if rent is late who pockets the late fees? What is the process to evict and which party is responsible for what, what are the typical costs/timelines, etc. Ideally it is a passive investment for the most part but you need to be prepared financially/mentally for those hard times. Good luck on your journey! 

 If this property is being sold to you as turnkey, if it were me, I would want to make sure the mechanicals will survive for another 5-7 years, that everything is up to code for that city/county/state, basically try to minimize huge capex in your first few years of ownership. There will always be repair items you just want to limit them :)

@Chris A. can you share some numbers from the PM agreement with Spartan? Monthly PM fee, lease up fee, fee if the same tenant renews lease, fees for eviction, etc?

@Chris A. hope you are planning to get a 3rd party home inspection before closing to make sure the scope of work agreed upon was completed and its up to code for that city/state.

 Did you pay cash to purchase the property? $400/month for a turnkey property is awesome!

 Lots of BP members do! Did you have specific questions?