All Forum Posts by: Mark Anderson

I think that multifamily development, public spaces & large commercial development is what makes Austin unique and attractive so like an efficient market the downsides will balance the upside & it will all balance out.

 Davina I moved from California as well and bought a place when moving out here. There are a lot of great places in Austin in the B/C range that are very attractive in price & cash flow comparative to California. I like the entire !-35 corridor or duplexes in Austin. Most of the quadplexes are usually in a little less desirable neighborhoods. 

Hi all, I just received my notice of appraised value for my rental property & had a few questions in regards to the process. I have been reading up & have confirmed that the information in regards to the property is all correct. In terms of the disputing, i have a few questions listed below

1. Dispute on value based on a Sales Comparison Approach= Does this mean a comparable sale on the market or does this mean a comparable residences assessed value by the county?

2. Disputing based on an Income Approach= Assuming this would be my income produced by my property. At what % of property value or cash flow would this be on a good base to dispute the appraised value?

3. Additional information to provide=  Would additional information be helpful for the dispute IE( the property hasn't had any permitted renovations since it was built, the properties value was increased by 27% last year and is being proposed to increase another 24% this year, i have an HUD government sponsored tenant, have units below market rent/ spent thousands on maintenance this year, is within the older development in the area & is adjacent to many larger newer multifamily communities that benefit from scale & shared amenities. 

4. Preferred avenue for dispute= I have seen that you can

-Appeal in person would you recommend this as a preferred route or any past experience?

-Submit via an efile which seems convenient if all information is provided correctly is this a preferred route or any past experience

-Have a 3rd party dispute for you for a portion of the savings. Would like to avoid the 3rd being that this is a $2,300 increase in annual property tax and would not want to split it. Unless the expertise is recommend to save the money

As always appreciate any advice & hope all of your assessments are going great!

It is a nice neighborhood 2 bed/ 2bath $1100/month. It should not be tenants scrapping together rent more of a matter of them getting their priorities right. I would be much more interested in removing them since they are on a month to month then dealing with this on a monthly basis. I like your idea of the communication for late rent as well Jill. 

I currently just purchased my first quadplex and inherited 4 tenants. This is my first month collecting rent and they are all on month to month leases. I have not met the tenants as they were not there when i posted on their doors with my contact information and how rent will be collected digitally through paypal or venmo. The seller let them know that i was going to be the new owner as well. In the state of Texas they are late 1 day after when rent is due the first. However their existing lease says they are not late until the 5th which i have decided to honor.  I am trying to train my tenants the right way and was wondering how i should go about this. Post a notice to vacate notice on the 5th at their door? Or begin to take proper steps now

Any advice on how to proceed with this? 

@Shayna Hatcher

I would never consider this. A good way to look at this is to ask yourself is this a person I’m willing to risk my financial future on? Take the emotion out of it.

@Cameron Riley

Cameron all you have to do is reply to them in writing letting them know they were rejected based on their credit score and provide them with the ability to access that credit report. Be careful not to mention anything else so that you can comply with fair housing laws. Like if they were a family etc.

Seeking some advice for criteria that is in important for seeking good tenants. For some background of the type of tenant a B class area 2 bedroom quadplex. I am using a BP lease and some criteria i have in mind that are a must are below. Please advise on your thoughts or any other criteria that you feel provides good tenants.

1. Tenants income is 3 times the lease. Would this be as an individual or combined?
2. No prior eviction ever
3. Credit score of 650 or up
4. Be upfront with my expectations, that we follow the lease 100%, treat this relationship professionally as a bussines

Currently looking at buying a 4plex however many are fully occupied and i would need to occupy the house within 60 days so my option would be cash for keys. Does anyone have some recommendations on how to pitch this to them

• Show the benefit to the tenant for compensation of money 
• Help connect the tenant with a property manger that could help them find a place
  • How much money should i offer 1 months rent?
  • Should i still take some of their security deposit if the place is in decent shape
  • Should i share with them the fact that i need to occupy the place for a cheaper home loan loosing leverage?
  • Is there any legal leverage to give them 60 days and tell them they have to vacate?

Would appreciate any past experience or opinions