All Forum Posts by: Donald Hendricks

Not true. Shop around.

It appears that The Crown has had it's way with my posts. You shall rue the day.

We are all entitled to our opinions, unless of course that is forbidden in the kingdom too??

Guru: Noun - A recognized leader in some field or of some movement.

In Texas you get to steal the tenants deposit if there is no will or probate filed. I know this because that is exactly what happens when my mother died. The landlord made up a whole bunch of charges, holes in walls, stained carpets blah blah blah and said no refund was due. She lived in the apartment for less than a year and was terminal the entire time. The landlord could produce no pictures nor proof of repairs. When I took them to small claims court, the court said no dice, as I did not have standing to claim her deposit. My mother didn't have a pot to piss in, why would I file a probate? The attorney for the landlord stood in open court and said that the damages were likely due to the last moments of life of the deceased. My mother died of lung cancer, she suffocated in what was basically a coma. I was with her as she took her last breath and watched her heart stop. I have never wanted to punch anyone in the face more than I did that punk.

The only solace there has been, is that the apartment complex is there 24/7 and I shall get that deposit out of that scumlord one way or another and then some.

Lesson for landlords, do F with the family of the deceased, they will get even with you.

Guru Dorkin and Guru Turner are sure to have a good Christmas with the short term influx of cash, but this will not last. Raising the tax 80% may seem like a great idea, but soon the kingdom will see that it is failing from lack of revenue.

perhaps you could make up the shortfall by contracting with the CIA to plant bugs in the house so they know what Boris & Natasha are up to.

uh, kill joy here, but what happens if you don't close and you are not the landlord at the end of the day? Risky if you ask me.

Open house, From X to Y on Z day.

Much to ponder.

I will have to admit that I love the craftsman style houses and I also like the idea of helping clean up the neighborhood, even if it is just 1 house at a time. Am I going to save the world? No, but I can do my little part to affect change & profit while doing it.

I also like the idea that I can make the cash flow multiply in short order by reinvesting in additional lower cost properties. Additionally, vacancies are not a crisis if they go a little long, as there is not a mortgage holder demanding payment monthly. The special needs clients are a negative, are they not trainable? Set the standard, mean it and enforce it. These are certainly not rent and forget houses.

The negatives in my mind for bread & butter is the leverage, that is A LOT of debt to carry. That is a lot more stressful to me than having to deal with special needs adults and checking on my paid for houses weekly & dealing with issues as they arise.

Just my ramblings in print, thanks for sharing your views.

The bread & butter deals that every other investor in town are chasing have an ARV of $100-150K, and the purchase price would be 70% or so of that, depending on the deal you can find and negotiate. This market has a wide range of values that common folk live in, from the 40's & 50's up to 300K & 400K up to a million+ depending on where you go in the city. Wide range & diverse population here.