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All Forum Posts by: Kristina Modares

Kristina Modares has started 34 posts and replied 96 times.

Post: Rent in Dignowity Hill

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39

@Mike Garland Thanks, Mike, yeah I need to become more familiar with the area. But many people have told me it reminds them of Austin's former "East side". 

Post: Rent in Dignowity Hill

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39

I've been looking into investing in San Antonio. I was wondering what rent is like out there. In Austin, it's getting pretty expensive but I don't really have a grasp on SA's yet. I'm planning on joining SABOR to gain some insight but until then--how much would say a 2/1 or 3/2 single family rent for in Dignowity Hill? 

Post: Tiny houses

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39

Many of my millennial clients are looking to buy single family homes with tiny homes in the backyard to help with the mortgage payment. Planning to live in the home and rent out the back house. I think there is a market for it in Austin but if it was a "tiny home community" it would have to be in a good location. People desperately want to live in central Austin and may be willing to sacrifice space...but not space AND walkability. 

Post: Looking for agents in Austin

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39

Hello Shay, I'd love to work with you. I am very educated on the Austin market and my target market is millennials. As a listing agent, I hand hold millennial sellers through the process, for most of them, it's their first time selling a house. they like somebody they feel comfortable with. I also work closely with millennial buyers. I just posted a guide for them on Amazon (How To Buy a House In Austin) and am launching my website HowToBuyaHouseInAustin.com, later this week. Let me know if you want to discuss further!  

Post: Tiny homes in Austin

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39
Thank you, Scott! I appreciate the information and contact. I'll definitely be getting in touch

Post: Tiny homes in Austin

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39

Hi everyone!

A lot of my clients have been interested in either finding a home with a tiny home in the backyard or building a tiny home/structure on a lot/multiple tiny homes on a lot. 

I'm not very familiar with the whole concept, although, in the past couple years I have heard it come up more and more. I know the city of Austin is strict about permits...I just would like to know if anybody has any advice or words of warning, so that I can educate my clients and myself.

Thank you!

Post: Cracked Foundation

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39
Originally posted by @Account Closed:

@Kristina Modares

I like the idea of renting to the previous owners.  I have been doing it for years and have benefited in server ways.

  • evictions are cheaper and faster than ejectments
  • the folks don't bother you over little things
  • they may come back and buy back from you.  I have done this something like 3 times.
  • While your waiting to sell them back the house, you are holding the house and possible converting a (short term gain, or ordinary income) into a long term gain.

AS far as the foundation and inspector goes, most don't have any clue what they are doing.  Find a local contractor who will sign off that the wall is fine, which it probably is.  Good luck.

 Good to know at least one person is giving the ok, ha! I've built up a relationship with the tenants. It's a family and the father is a roofer and is even helping with a lot of the repairs. My dad lives in Atlanta so he meets with them often. They have 2 children that need special attention and were just a little down on their luck. We have a good working relationship thus far! 

Post: Cracked Foundation

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39
Originally posted by @Richard Balsam:

Please be careful with your situation. When you buy at the foreclosure auction and the now previous owners still occupy the home- things can get ugly. For example - they can claim you sold them the home - (of course not- no paperwork to explain it- just free time in the house until a court date is set and you hire an attorney and a judge throws them out). I always do an eviction - even if the home is empty - this way, they can never come back to me for anything - claiming I stole, etc. There have been cases where the previous owners actually left belongings behind and the new owner was sued for $15K - the maximum in small claims court ( here in my state of Georgia). They claimed they had a diamond ring in a sock somewhere and it was now missing. Since the investor didn't file for eviction, the items "belonged" to the previous owners -and  the judge somehow believed the poor old previous owner vs. the big bad landlord. I heard this from one of the criers on the courthouse steps that knows me - he has told me stories over the years - that are hard to believe. He's been around the block a while and has seen a lot of strange things from other investors. At a minimum - the "new tenants" should sign a lease with you explaining everything (the new relationship) so there is no "misunderstanding".

 That's a crazy story! I've built up a relationship with the tenants. It's a family and the father is a roofer and is even helping with a lot of the repairs. They have 2 children that have special needs. I know anything can happen and this is a business transaction but we have a good understanding of each others wants and needs and so far it's working. They are planning to move out soon also. 

Post: Cracked Foundation

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39

@Richard Balsam Thanks for sharing! I purchased the property at an auction and the current tenants are the previous owners. I know this tends to be frowned upon but they have paid rent on time every month and the home needs a pretty good amount of work done inside before I could rent it out again. I know they have not taken care of the home-- I'm really hoping this foundation problem is minimal...

Post: Cracked Foundation

Kristina Modares
Pro Member
Posted
  • Real Estate Broker
  • Austin, TX
  • Posts 104
  • Votes 39

@Marcia Maynard I think I'll get an extension just to be safe, thank you for the advice and I'll look into Safeco.

@Cory Finniss Thanks! I always associate foundation problems with higher costs, I need to figure out the extent of the problem--hopefully not too bad! 

@Phil Earley @Jim Adrian Thank you for the recommendations and feedback. I really appreciate it!