All Forum Posts by: Kevin Schultz

I have a potential tenant just starting college who we showed a unit to yesterday. Her father was at the showing with her and he is the manager of her trust fund, which will be used to pay the rent while she’s in school. Since she has no income and will live entirely off of dad’s money and have him paying rent from the trust fund, I’d obviously like to hold him liable for paying rent if she doesn’t.

Is there a way to have a college parent co-sign for a unit or does this simply require them to be added to the lease even though not living in the property?

Thanks.

Does adverse action need to be mailed certified like others? Or can it simply be emailed to the applicant? What if the renter is using a realtor to communicate through? Can I send it through him or do I still need to contact the applicant directly?

Thanks

I’m curious what qualifies a homeowner for the 2 year tax deed redemption period in the state of Texas, as opposed to the 6 month redemption period?

Does the owner have to have current HS exemption claimed on the property to be eligible? Or do they just simply need to live there and have it listed as their mailing address per CAD?

How does the CAD determine this?

Awesome. Thanks for the input y’all!

What are people using to collect rent electronically these days?

My wife and I are newer to the Abilene market due to a career change. Can anybody recommend good general contractors in the area? I’d like to get a few rehab quotes on a property I’m analyzing.

Thanks in advance.

Hi All,

I’ve found a great looking foreclosure property that could go at a steal. After taking a look through the windows (haven’t gotten inside yet), I’m convinced it has flooded. All flooring has been removed, leaving concrete slab. Also, some of the drywall in one of the rooms has been removed down near the floor. I tend to shy away from investing in a property that was flooded from rainwater, but I would have no problem getting in to something that was caused by plumbing. The property doesn’t appear to be any lower than surrounding properties, which have obviously not flooded and are occupied, which makes me wonder if it came from within the structure.

Does anybody have a good way to tell how a house was flooded? Is there a registry or flood insurance claim database somewhere that could be referenced?

What would you do? How would you decide if this was a great BRRRR deal or a future flood disaster?

@Tarik Turner

Can you tell me more about this? Can it be used in TX?

Hi all, new to the BP community with my first post here. I’ve done a lot of research on hard money loans lately. I’m looking to buy my first rehab for rental. I’m curious if one can buy property at an auction with hard money. How does that work with having to pay points and potentially not winning the auction? If the auctIon requires funds in cash, you’d have to have the funds there with you, which seems expensive if you dont end up acquiring the property... Does this prevent hard money lenders for lending on properties to be bought at auction? Thanks for responses in advance.