All Forum Posts by: Kolton Gutierrez

Looking for advice on being a landlord from a different state. My wife and I are travel health care employees and are only in our home state a few times a year. We have a duplex and would like to know how some of y’all go about showing the property to potential tenants. Would like to avoid using a property management company if there are good options

So this isn't exactly a real estate question, but it pertains to future investing. My wife and I are health care travelers and have been for the past two years. We have been considering buying a truck and camper to avoid paying other people's rent. We pay on average 2000-2500 a month on furnished apartments. I can buy a truck in cash and finance the camper. One of my concerns is that we are still actively trying to buy properties. We are house hacking a duplex and will be looking for another house hack in January. My fear is that I will use a large portion of our savings and if a deal came along that we would like the Jump on we could potentially not have enough.  Renting other peoples properties has been working for us so far but Id like that rent money to give us something we can use at the end of our traveling journey. Looking for some thoughts on the situation from people that have an investing mindset

Hey everyone. Looking for some advice 

One of my properties I recently bought got backed up and I had to send a plumber out to get it cleared. Once they cleared it they ran a camera up since they said there was some mud and also an earthworm in the main line. They said they found a Cast iron portion of the main sewer line that had cracks and holes in it. Now I’m getting quoted thousands to get it repaired. Has anyone else had a similar problem? And any advice on moving forward 

Hey everyone, looking for some knowledge 

I locked in an interest rate recently and paid a point to bring it down. Since interest rates have dropped since locking in my rate can I get a rate drop or am I stuck with what I’m locked in for? 

You might have read that wrong. I meant that I’m aware that I’m not buying the property for a good deal since it won’t appraise for much more than what I’m under contract for and that it needs roof repairs 

Hey BP. I’m under contract on a duplex for 165. The inspection came back stating the roof needs inspection possible repair. Seller said it’s an as is sale. My realtor said that he doesn’t think it will appraise much higher than 165. Both sides rent for 800/mo. (I know I’m not buying it for a deal). I’m stuck between going forward on the deal and making necessary repairs since I have a good interest rate and a better return than any other property I have come across. Or skip out on this one and look for another but risk a lot higher interest rate depending on how long It takes to find another deal. Just looking for some thoughts on the situation

I'm in the process of buying a duplex and I asked whether the current tenants have a security deposit. They said that they were credited a deposit when they bought it as a rental and that the title company will do the same. The other unit is a family member that they never took a deposit from. They are each on a month to month lease and I told my realtor I want them to get a deposit from that tenant before closing. And If their family member/tenant does not want to pay a deposit that they would have to handle evicting that tenant before closing. I feel that is reasonable as I don't want to inherit a tenant that I am left paying out of pocket to cover repair costs or pay for an eviction process. Am I going about this the right way or is there another way I should be handling this situation?

If I bought a duplex as a primary when there are already tenants with contracts month to month do I just need to tell one that I won’t be renewing their contract and be done with it? Or is there some kind of hang up I’ll have when trying to buy it as a primary but there are active leases? 

Below is what sellers told my realtor about an off market duplex I’m looking into: 

They said for an outright sale, they’d have to do $165k and you pay their closing costs, otherwise it wouldn’t make sense for them (we can talk about the possibility of me crediting a percentage of my commission to you if that helped your out-of-pocket since I would be getting both sides).

For seller financing, they’d need to get $15k down and finance $150k and that you would essentially own it and take care of any repairs necessary as things arose over time.

I would end up paying about 3K in closing. 
How would you counter? Or would you take the seller financing option? 

So I have a duplex I’m trying to buy. I talked to the seller about doing seller financing however he still has a mortgage on the property. I’m wondering how to use seller financing in this situation to not trigger the due on sale clause? And also how to set up the agreement between me and the seller