All Forum Posts by: Grayson Wester

@Stefanie Johnson Sykes way to go! So happy that we got to work with you on this one. I'm excited to see how it turns out!

Thank you for the replies @John Underwood @Kyle J. and @Bjorn Ahlblad!

We're renovating a house right now that we will keep as a rental. I noticed that there is a garage door opener and am wondering how I should approach the use of it when it comes time to rent. 

Is there a legal liability where it makes more sense to unhook it and leave the door to be opened manually? I'm thinking worst case scenario with faulty sensors, people being dumb, etc. where the landlord would end up being liable.

Aside from that, my other minor concerns are around tenants programming new remotes, moving out and then still being able to access the house.

I've never installed nor lived in a house with a garage door opener so they may be easy to reprogram once people move out.

@Trevor Aydelott you're welcome! Glad to help. Look forward to working with you!

@Princella Carr go through Zillow and call all the listing agents that have listed houses that are rehabbed. If they represent one investor, they likely represent more. Some want to get paid for being in the middle - other's don't (they just want to keep their clients happy). Either way this is targeting qualified people that are actually doing deals.

@Erika Banks congrats on this new deal! If you were saying you were going to buy an 8 unit apartment complex I wouldn't bat an eye if you were planning on managing it yourself. However, with 45 units I think you might find yourself overwhelmed pretty quickly - especially if you have other rentals, life commitments, etc. so 100% yes on getting a property manager!

I haven't used them personally, but I've heard good things regarding Becker Properties when it comes to management. Whoever you interview I would be sure to ask for client references and maybe even spend the time to drive by some of the properties they manage.

Are you partnering with anyone on this that has multi family experience? 

@Sally Hanan this doesn't sound like a good deal to me. $10K is very little to profit on a risk this big. Also, have you calculated in all of your costs like?:

• Realtor commissions
• Taxes on your profits
• Insurance
• Utilities
• Holding costs

Even if $10K is your net profit on the whole deal when all said and done I still wouldn't do it. It doesn't take much in unexpected renovation costs or high days on market to eat through $10K in profit.

@Timothy Crawford look at the rehabbed comps that sold in the last 6-12 months in that neighborhood and see what they had to offer. This might be one of those situations where you're making a mountain out of a molehill. Let the market in the neighborhood tell you what people are wanting. 

For example, there's no reason to spend $3500 putting granite countertops in a kitchen when all of the rehabbed comps sold in under two weeks for asking price and only had formica counters ($1200).

Hey @James Walker! I live in New Braunfels and invest in the area. I'd be up for connecting over coffee sometime soon. There used to be a REIA here in New Braunfels, but I think it disbanded. There are a ton of meet of groups in San Antonio though.

@Lillian Nguyen @Ryan McLeaird is a great guy and they run a sound business. Check them out!