All Forum Posts by: Mark Buskuhl

Use the TREC contracts to buy - https://www.trec.texas.gov/age...

If you want to wholesale them let me take a look and you can use my assignment contract. 

https://www.ceshker.com/home

You may not want to hear this but you need to run from this deal.

1. It's in a flood zone.

2. It's WAY to much work for a new investor. Take on something with less rehab.

3. That GC bid is horrific. Way over charging and not even detailed. Where is plumbing? Electrical? Insulation? Trim? Doors? 

4. Don't buy off MLS. If you don't want to do the work to buy direct from seller at least get hooked up with some decent wholesalers.

$25/ft and $5k/each major (roof, plumbing, elec, foundation, HVAC) is a ballpark that works but you have to adjust up or down for ARV and finish and whether you GC or hire a GC. Just did one at roughly $35/ft and $5k/major and another one now is coming out to $15/ft and $5k/major. Two completely different rehab projects.

@Alejandro Nava you need to reach a much larger audience. As a point of reference my team dials around 8,000-10,000 numbers per day and sends 800 texts/day. This gets us on average 3 healthy margin deals per month. It's a numbers game. 

Learn to source deals yourself direct to seller if you want to make money. In this market everyone has cash and unless you want to swing a hammer and have some really good subs margins are razor thin. 

There are lots of ignorant bills introduced and these have exactly zero percent chance of passing. Maybe in the future the way this country is going but not this year.

Abbott has already done the opposite and in 2015 signed a bill preventing liberal cities like Austin from having local ordinances that force landlords to take vouchers.

I have a better idea. Cancel the voucher program in it's entirety. Housing is not a right. 

https://texashousers.org/2015/...

You are fine. It's the TAR lease that requires an agent or can be voided.

As public records, contract forms adopted by the Texas Real Estate Commission are available to any person. Real estate license holders are required to use these forms.

However, TREC contract forms are intended for use primarily by licensed real estate brokers or sales agents who are trained in their correct use. Mistakes in the use of a form may result in financial loss or a contract which is unenforceable. Persons using these forms assume all risks associated with their proper use.

If you are obtaining the forms for possible use in a real estate transaction, you should contact a real estate license holder or an attorney for assistance. TREC cannot provide legal advice to the public on private contractual matters.

Trying to get a deadbeat tenant out and not sure if I have to give 30 days notice to vacate or if 3 day rule still applies.

TAR lease expired April 30, 2020 and I let continue MTM.

August 4, 2020 I give 30 day notice to terminate per lease effective September 3, 2020. Tenant was having problems with timely payment but I don't need a reason. 

A month goes by and the tenant says he can't move out and pays rent for September. Same thing happens for October. It's now November, he hasn't paid rent and is ignoring me. His mom says he's unemployed again (wife left him for his brother and he's on drugs now).

November 6, 2020 I post the 3 day notice.

Wanting to file the eviction petition for holdover.  Denton County requires a verification of compliance with CARES act form. 

This SFR does have a Freddie Mac mortgage so is a covered property. The eviction is for holdover though, not non payment of rent. It looks like I have to give a 30 day notice to vacate?

Alternatively, I am thinking of just having the water turned off. This property is in a "town" of 1700 homes that requires a CO inspection for every tenant change, landlord to setup water/sewer and maintain financial responsibility with alternate billing, etc. It's far from normal. 

Private entities do not set state and federal law. 

I'll revert back to the 2nd reply on this post and yes, commercial demo in TX requires an asbestos report.