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All Forum Posts by: Mary lou L.

Mary lou L. has started 66 posts and replied 360 times.

Post: Holding deposit in Texas

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

Thank you for the advice!

Again I will stress that no keys will be given until the entire security deposit plus first month's (or prorated) rent along with a signed lease is executed.

I just do not want to open  myself or the tenant to any issues....and really I feel that full deposit and rent is what is needed.

@Robert Melcher

And of course like I said another potential tenant may come forward with everything needed to move in. That is my target like you said!

Thank you again for the advice.

Post: Holding deposit in Texas

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

Thank you for the advice! I did let him know that I preferred the entire deposit up front.

He has an apt to see the house today. I asked that he see the house first and we will talk about a move in date.

 I understand it will be non refundable, and the rest of the deposit along with rent should be received upon signing of the lease which will be July 15 (I will prorate the rent)

Is there wording available I can use when I draw up the document?

Thank you!

Post: Holding deposit in Texas

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

How does a holding deposit work particularly in Texas.

We have a prospect, a teacher moving into town. He said they are looking to move Mid July.

The house isn't quite ready but is projected ready to move in by June 15th.

He asked about paying half of the security deposit and the rest on move in. (If he passes all our checks)

I don't want to start feeling like I am giving concessions, and this situation is new to me.

I don't want to wait until July 15th to start. I want to rent this home out as soon as it is ready,and I made him aware of this.

I read about a holding deposit. How exactly does this work?

I am asking 1000 security deposit and 875 monthly rent.

Granted this is our first prospect, he and his wife are moving into town to take over a teaching/coaching position a the High School.

Thanks for your advice!

Post: Negative Nancies

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

What an adventure you will have! You and your husband support each other and the sky is the limit!

I will keep checking back to see how you are doing!

Enjoy your trip! I love traveling cross country!

Post: Waco "the unlikley capital of home renovation" CBS News

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

Based on the popularity of their show HGTV Fixer Upper they have lots of fans!I don't know of the real estate market there, but their Magnolia brand is sure to be a hit.

Personally I like them better than Tarek and Christina.

Post: Waco "the unlikley capital of home renovation" CBS News

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

CBS This Morning Chip and JoAnna Gaines

This morning on CBS News.

Interview with Chip and JoAnna Gaines.

Post: Waco, TX Rental Market

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

With the success of the HGTV show Fixer Upper, Waco, is as Jane Pauley put it on CBS Morning News, "the unlikely capital of home renovation"

http://www.cbsnews.com/videos/the-couple-behind-fixer-upper/

Post: TURN-KEY INVESTMENT PROPERTY IN JACKSONVILLE, FL

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

Is this still available?

Post: Massive Cash Flow After Repairs

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

Do you have more photos?

Post: Somebody Tell me why nobody is buying this property? lol

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

@Leon Chappell  It cant be that bad of a neighborhood,...at 2246 Fayette right there on the corner the house has had the same swan decorations since 2007! per Google maps...