All Forum Posts by: Kyle Mccaw

You need to really watch out for condo fees. They can eat up profit quickly. The big difference is you give up some control so you need to be careful who else has power over your property. Be sure the community is friendly toward rental units. I have had my but burned after buying a condo that the hoa was taking over by a single investor that owned 90% of the complex. He/HOA voted a large assessment against all the properties to upgrade the property. He happen to own the construction company that was awarded the project. Needless to say my profit got blown fast. I say this to make you aware that when you buy into a condo you need to be aware of all the risk.

I've never had a mortgage firm ask for paperwork concerning foundation repair. You should get a transferable warranty, engineers report and a sketch of where the piers are.

@Andrew Postell Thank you for the kind words.

@Bobby Shipman Let me know if you have any questions. FYI -There is a block of 4-plexes in White Settlement area that have serious issues with the city. If your property is in that group you need to confirm that you will get a CO. 

@Andy Webb Thank you the mention. 

@Account Closed Let me know if you have any questions or need anything. We are very active in the areas you mentioned.

There are different levels of "boots on the ground."

If you simply need pics of the property, I would suggest www.bpophotoflow.com - nationwide

If you would like a property condition report  www.onsightpros.com - Good for major metros in Texas

You may want to look at CrestCore Realty for Memphis. They have a great reputation. Solid product and service. http://www.crestcore.com/

If you are looking in the Dallas - Fort Worth market, feel free to email me your criteria.

I had a few systems. The best for me was to download a list of non-owner occupied units, upload to a mailing service, let the phone ring. Have a phone number & voicemail specific to the card. 

My first true wholesale deal was by accident. I was purchasing distressed properties with a group and the other guys didn't want the house I went into contract on. It had a little foundation problem. To me the deal was great and I hated to see it go to waste. I called a hard money lender. He had a borrower but needed a house. I assigned the contract over for $5,000. Less than 2 weeks. 

Glad to hear you are gonna take action. Do not let this year end without getting at least 1 rental. The long term benefits are amazing. And the longer you wait the less benefit you will see. That first step is the hardest. Then it is purely addictive. 

NTN National Tenant Network has a good reputation. But always go the extra mile to verify employment and landlord references.