All Forum Posts by: Matt Bishop

@Mary Jay, hopefully you have a great and trusted insurance agent who will advise you. All of my policies state they only cover "sudden and accidental discharge of water" and specifically exclude mold or fungus. If you have multiple properties, one insurance claim can affect the premium on every policy for years to come.

I have read those articles you mentioned and I laugh at the click bait headlines and foolish statements in the internet article. "home prices are going to collapse. No hope in sight for buyers looking for an affordable home as skyrocketing rents leave no relief". It's all manufactured news to elicit emotions and panic. People who believe that stuff obviously didn't experience the 1970s&80s in Texas.

@Nadir M.,

Dallas-Fort Worth suburbs. A dozen class A, 3/2/2 in gentrified neighborhoods.

@Irvin Nguyen, what is the stated termination date of the current lease?

Can you wait to sell until the lease runs its term?

I Believe it is customary to give the tenant a 60 day notice of non-renewal. Talk to your property manager.

I am getting 6 percent conventional mortgage from my bank w 80 percent LTV. 1 percent funding fee. Minimal documentation, high net worth, high credit score. Single family homes. City National Bank of Winnsboro, Texas.

5-6 percent  interest is more realistic.  What price are you asking and how much down?  What would a honest appraisal price be?  Are other homes nearby for sale?  Are you priced below the median of your competition? 

I  usually list with a seasoned real estate agent who has extensive experience in my neighborhood.  Your online pictures need to really stand out from your competition.  Each one should be outstanding and cause desire in buyers.  

Instead of 1031 out of a paid for, performing rental, why not borrow against it and use the money to buy a new property?  I don't really understand all the math as I'm new to investing.  Please explain to me which is the best path. Thank you! 

I'm getting more Section 8 SFH 3/2/2 rentals. I love the stability of direct deposits from the government. My portfolio has 42 percent loan/58 percent equity. Is this a safe ratio? I put all of my cash flow into extra principal. Is this a good idea? DFW suburbs are doing great! I hope buying opportunities increase. I don't plan to sell unless the income stops.