All Forum Posts by: Mark Buskuhl

Joe Plagens

http://www.platinumdfw.com/About%20Me/

I do my own inspections on investment homes but used Joe on my personal residence and could not have been more impressed. He had been the inspector for the buyers of my prior personal residence and I remember being upset because he ripped it apart in the report. That's the kind of inspector you want. 

What's your LLC name?

Use the links below to get everything you need including Cert of Good Standing, EIN, Texas Taxpayer ID, SOS file number, etc. 

You are better off saving these items on a cloud based platform such as Google Drive or Dropbox. You don't need the originals. 

https://mycpa.cpa.state.tx.us/coa/

http://www.sos.state.tx.us/corp/sosda/index.shtml

https://www.irs.gov/businesses/small-businesses-se...

My regular handyman keeps getting more expensive every time I buy a new house. 

Need a light interior remodel on a house in Anna built in '04. About 700ft of laminate, paint kitchen cabinets, new appliances install, kitchen sink faucet, etc. Ready to start 6/26. Any referrals?

You can do a cash out refinance for $600k which will payoff the existing $300k mortgage putting $300k in your pocket to play with. 

Or, leave the current mortgage in place and get a HELOC for $300k. Both cases you'll have access to the same amount of cash.

Benefits to a refi are fixed rate 30yr term availability, HELOC will be adjustable rate with more flexible repayment options (interest only).

HELOC is better if you plan to use the money temporarily such as fix and flip or buy with cash and then convert to a traditional mortgage. You only pay interest when using the money. Refi is better if you plan to use the funds to own a rental free and clear.

@Luke H. the solution is simple, you need a new HVAC guy. You are in Houston, there are plenty. If your guy takes 1-3 days to even get to your own house you are not very important to him. Plenty of small independent HVAC guys out there.  Ask around for referrals and you may have to try a couple before you find the right one. 

I text my guy when there is a problem at a rental or my house and he makes it a point to come the same day. If he has to adjust his schedule he does. I don't have to meet him, we don't have to talk price as he knows to treat me fair, he shows up the same day and in turn knows he has a loyal and long term customer with 8 (and growing) HVAC units. 

Repose gray by Sherwin Williams is the color and places like Home Depot can match if you want a different "brand".  Around $4000 for a 2000 sq/ft house interior only, no cabinets. 

Figure around $2/ft for 2 color interior wall, trim, ceiling, etc. No cabinets.  This is for DFW area. There is no way you will get this for $1/ft unless they just go in and shoot the entire house one color with no flooring and mask nothing. 

Any attorney familiar with foreclosures that I could pay to review?

This "trust" I figured out is an individual who is an investor and obtains title through various means (even found him on Pacer suing WF). He got it at Sheriff sale for a couple grand but what about the six figure first lien? If the trust owns it now what is he foreclosing on?

Looking to pick up our first foreclosure at auction June 6. 

I had a title search ran by my title company and looking for an expert who can maybe help piece things together. Here's the short version:

June 2011 Purchase by Jane Doe

October 2013 HOA gets a lien filed

March 2014 Judgment rendered to Sherriff

June 2014 sold at auction for nominal amount to "Name of street" Trust

June 2014 Forcible entry and detainer citation

July 2014 Notice of bankruptcy

August 2016 Eviction hearing

Sept 2016 Default judgment for plaintiff

October 2016 Writ of possession unserved

February 2017 ch 13 dismissed for failure to make payments

Jane Doe filed ch 13 in 1998 and 2014. Also filed ch 7 in 2014. 

Property is currently owned by "Name of street" Trust

Property taxes current

HOA lien for $2547 + costs/interests from 2013. Called HOA but they wouldn't talk to me and think Jane Doe owns it.

First lien mortgage from 2011

I already own some rentals in this neighborhood and would like more. Before I show up with a cashiers check at the courthouse I'd like to better understand any problems here. 

I understand the house may be trashed and there may be cement in the drains and am okay with that unknown. It was built in 2004 and this neighborhood does not have foundation issues so not worried. 

Title search available to any expert willing to help sort this out. This will be our first auction purchase if it happens so want a better comfort level. 

"Real motivated seller lists" do not exist. If they did we would all be rich. 

The term "motivated" is confusing and more accurately these lists could be described as people who may be more likely to want to sell a house than the average homeowner. 

These lists are derived from public records which you can compile yourself or pay someone to generate the list for you. Either way, they will never be "exclusive" as the data is public record and available to everyone. 

Who are motivated sellers? Typically the categories below are most common.

Probate
Vacant/abandoned
Pre-foreclosure
Divorce
Post bankruptcy
Code violations
Absentee owners
Over 65
Long Term OO
Pre-Foreclosure
Delinquent taxes

In addition to these categories, there is also a timing component that can come into play. For example, a motivated seller would not be an absentee owner who bought a property last year. However an absentee owner who bought the property 10 years ago may be ready to get rid of it and tired of the hassle.