All Forum Posts by: Granville L.

I live in the Houston area and have several rental homes.  I am looking to branch out to strip centers or an office building.  I also know absolutely nothing about either one of these investments.  I seem to remember reading a post on this site a few years ago about a man or company in Houston that will find the property, look at the books, determine if it is a good investment, and walk you through the process.  I know this will cost money, but I dont mind paying to put a team together to find the right investment.   Does anyone remember that article, or give any input on this.

Thank you

Thanks guys for the info.  I agree and was planning on only refinancing certain homes for 75% instead of every home for 50% to get the amount I achieve.  Unless I can get a line of credit for 50% of my entire assets.  I do not want to take a one time loan for 50% of my assets and have to pay monthly without being able to invest it fully.  I dont want to use loan money to make monthly payments to interest.  I used "Texan" bank to start my business and they were wonderful with supplying me the money I needed.  I am going to go back to them first.  I am also open to any banks that might be able to work with my situation.  PM me.

Steve, I am a plant inspector and still work for the plants.  My wife and I purchased distressed homes when the market was at its lowest and did 80% of the work ourselves.  For several years I would work for the plant during the days and on the houses at night or days off.  My wife still manages and does some of the repairs herself.  We rolled all the profit back into paying off the homes.  Now its time to expand.  

I will look into that.  

Thank you

Hello All,

I live in the Houston area and own a company called Galveston Co. Rentals.  I have been buying homes since 2008.  I have purchased over 25 but sold some along the way.  Right now I am sitting on 20 paid off homes.  I am looking at ways to leverage these assets to make more income.  I am interested in refinance these homes and wanting to pull out 50% of their value to purchase new homes.  I do not want to take out all the money at one time, but gradually as homes are purchased.  I am interested in different options of refinancing.  I would prefer a 20 or 25 year loan to increase profit margins.  This is the first time i have refinanced, so any help would be appreciated.

Blair 

I cut the AC power.  I realise there could be some recourse,  but sometimes you got to take matters into your own hands.  They canceled the check, so I used swift justice and they moved out in 3 days.  Some people might want to let the eviction go through the court process and have them out a month later.  I did not.  Success. 

Hey Guys.  It all worked out.  I actually jumped the fence from the neighbors yard and cut the power to the compressor.  It only took a few for them to call complaining. I went by and told them a new compressor would take 3 weeks to get in.  I then handed them the eviction notice.  After a few days of heat, they were out.   I just let the heat solve the problem for me.  Thank you guys for all the help.

Cool.  Thanks guys for the reply's.  I was planning on taking her money and kicking her to the curb.  If she wants to take me to court, so be it.  I love a good fight. Lol. 

So, I went through the eviction process and the judge put a $3000. lean on one of my tenants.  We had to put a writ of possession on the home (judge signed it) and we are waiting for the sheriff to call. My wife ran into her today.  The tenant said she can pay $900. on Monday.  I am still going to kick her out, but can I also take her $900 because she owes it?   

Linda

That is a very interesting approach.   Do you know how I would be able to find the local bee keeper club?  Thank you all for your advice.

Hello All

I have a house down in Dickinson Texas and am having an issue with the vacant home next to me.  The home contains a large bee hive.  The home has an owner but has been on the city demo list for several years.  The other home owners on the block have started leaning on the city code enforcer about the issue, without any resolve.  The city sent a bee keeper to the house and he said the hive has taken over the front living room, garage, one back bedroom, and is well over 1,000,000. bee's.  The renters I had in the home contacted me that they (dad and 7 year old son) had been stung and cannot mow the side of the their house because of the issue.  I called city hall and after getting the run around from 20 people I was directed to code enforcement.  After leaving several messages with no reply, I was able to contact a lady that did not give a crap.  She actually hung up on me the first phone call because I was not accepting her answer of "not their issue", and I needed to contact the owner.  Finally I told her that I was taking a ledger of all our conversations, to which she was more open to hearing about the situation.  I expressed to her that the bee's have started stinging parents and children on the block, but she was not concerned.  She said she would look into it and let me know.  When she called me back, she said that all she could do was bring the situation up to the owner by mail.  Because my rental home is in my company's name, she started asking me questions about my company.  I told her my company is not harboring bee's and is not to topic of conversation.  I have started a log of call time and who I talk to, so if someone does get hurt or killed, I have documentation that the city was aware of this issue.  Also, I cant rent a home out knowing the house next door posses a direct danger.  Does anyone have any advice on where I should take this situation?