All Forum Posts by: Ian R.

Matthew Diaz I'm not really sure exactly what you're trying to ask but based on the info you provided, it seems that you've taken $33K out of your 401K and used it to rehab the home of your girlfriend's parents. Again, I'm going off very few details here but if this is correct so far, I would have to say this is a very risky endeavor. I would never recommend that someone spend that much money rehabbing a home that they do not even own. If you can provide more details, perhaps we'll be able to give you a more specific response. Best of luck

If your property manager convinced you to accept a tenant with prior evictions, you may want to re-evaluate your PM.

I don't usually post things like this on BP but in this case, I think it applies to the topic of discussion:).

Sean Harris I think you're on the right track. In my opinion, it makes more sense to invest in your local area or at least in a location that you can easily get to in order to view potential deals or follow up on issues with your existing ones. You also have to keep in mind that in San Antonio, we have very high property taxes because we have no state income tax. This makes Texas very difficult for out of state investors and more of a local's market. @Jay Hinrichs has talked about this often. Best of luck

@Justin Eaton

Nice job getting it to appraise! Those VA appraisals can be dicey. I've seen lots of deals fall apart because of over zealous VA appraisers.

@Jack Middleton

It is absolutely normal.  You'd be surprised how many people are time-wasters or window-shoppers who want to look at homes they can't afford or have no real intention of purchasing.  If you don't want to do a pre-approval just yet, most agents/brokers will accept proof of funds.

@Clayton Crawford

@Russell Brazil is dead on.  The broker does not work for you.  You're in an agency relationship where the broker represents you.  There's a big difference.  Brokers and agents can and do "fire" clients.  If I'd shown you 50-100 homes and you hadn't closed on a single one and weren't taking my advice, I would definitely terminate our relationship.  You have to consider that's probably hundreds of hours spent showing you homes, not to mention the lost income from missing out on other potential deals because he/she was tied up working with you.  Just think about the fuel costs of driving to/from 100 properties.  So far, your broker has lost significant time and money working with you. You really can't blame him/her for being reluctant to continue submitting offers on your behalf if you're not listening to advice and you're not making competitive offers.  If you're looking for under market properties in an area that's very competitive, you may want to try doing your own marketing or just working with a local wholesaler.

Best of luck

@Betty Cruz

I think @Brad Larsen and @Robert Melcher pretty much covered it.  The only thing I would add would be to, if at all possible, put eyes on the dogs yourself so you can verify their breed, size, and temperament. Sometimes. prospective tenants will understate the size of their dog and will not be forthright about the breed.

No tenant will take care of the landscaping the way an owner would.  Since you live on the property, I would recommend just doing the whole yard yourself.  If/when you move out, build the cost of lawn care into the rent and hire it out. 

Patrick Ng I know the area well. It's very popular with military families. As Brian Phelt mentioned, if it's been on the market for a few weeks and you haven't gotten any interest, you may need to double check that what you're asking for rent is comparable to other similar properties. Best of luck