All Forum Posts by: Maureen Dawson

I have a tenant who has violated her rental agreement when she moved her 18 year old daughter in without prior consent and added a second pet she is hiding from me when I declined to allow an additional pet. Will I face legal issues over terminating her contract during this COVID siruation?

Lack of know how. Retiring investor wants to sell his 15 unit complex. 2 buildings. 800K, NOI 116K , 93% occupied. In the city downtown location. Not sure on how to make this deal work.

Investment Info:

Single-family residence fix & flip investment in Houston.

Purchase price: $100,000
Cash invested: $40,000
Sale price: $209,000

Property sold. DOM 22. 52K profit.

What made you interested in investing in this type of deal?

The location. The numbers worked.

How did you find this deal and how did you negotiate it?

Off market through a broker.

How did you finance this deal?

Personal and Hard money.

How did you add value to the deal?

Higher end rehab, but within the marketable value.

What was the outcome?

!st open house generated our target offer. We accepted.

Lessons learned? Challenges?

Flood properties take longer to rehab. Manage subs to your timeline. Get in and out as quick as possible. Hard money is interest only payments....get it sold and move on to the next!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes.