All Forum Posts by: Kris L.

Probably a dumb question but figured I would ask.  Texas RE Broker License is needed if I want to run my own PM business.  One of the requirements is 2 years full time or 4 years part time experience working as a PM.  Would self managing my own properties count towards that requirement?

Interesting conundrum.  I assume you can’t simply use those numbers to get the seller to reduce price a bit?

Likely depends on the flooring you are going for.  Floor in my family room was a DIY tile job by the previous owner and it looks like a DIY.  Got me $1900 off the purchase price.  Thank God for area rugs ;)

Congrats on the deal!  Let us know how it goes!  

Just curious what level of capital reserves are common when renting SFHs. 3 months expenses? More? Does you scale it if you own several properties? do you keep this reserve in a separate account from CapEx?

Federal law allows a tenant who is in the military to unilaterally cancel his lease if he gets orders to PCS or TDY for a period of 90 or more days, so chances are, keeping him on the lease would do nothing for the landlord anyway.  

PS. Enlisting is definitely going to qualify except in the highly unlikely scenario where he happens to be assigned to a unit stationed in the same city he currently lives.  

what about rent to own for your tenants at this price range? 

Just curious what your issue is with USAA.  I have them insuring my home and want to know if there is something I should be watching out for.

I'm not sure.  I just found this site myself.  I am also living in Alamogordo, though not really looking to invest here, but in a more populated area.

Makes sense.  what about things like housing in a very good neighborhood of a low income town?  That’s my current living situation, and while I wouldn’t mind owning other properties here, it does seem challenging to find deals that would generate positive cash flow.

Sounds like I should be looking in other neighborhoods to find deals.