All Forum Posts by: Jimmy Marks

Does anyone have experience with these type of loans? Are they good for first time investors? I am using a FHA loan on my primary residence and don't want to refinance because we have a great interests rate.

I'm looking for turn key property management on a single family house.  What do you look for in a property management group and what terms do you want in you contract?  Some have flat rates, some have percentages, eviction coverage, etc.  What have you found as must haves and questions you wish you had asked, etc.?

My tenant left without making a payment and upon inspecting the house I found a few damages to the property (like 3 doors need to be replaced ...etc). Should I focus my time in trying to fix the property ASAP and put it in the market? Is it worth the time and money to try and chase the tenant to get him pay for the damages, monthly payment knowing that he did not give me a notice and damaged the property? 

PS: I still have his deposit which I do not think it will cover all the damages.

I currently have 3 single family home for long term rent, and they are all in Houston.  All single-family homes built in 2009~2015.  I purchased through a local realtor that I know for years and I have been managing all 3 of them by myself.  I have been watching YouTube for fix many things on those houses by myself when tenants call me.  Due to higher taxes, and higher insurance costs, profit per house is $100~200 lower per month this year.  

I see that many are doing out of state rental property purchase with property management involved.  

How do you make decision which State to start with?

Is the risk of not knowing the area worth going for?  

Is out-of-state property management worth paying for and trustworthy?