All Forum Posts by: Michael Lee

so long story in short, put my ad on and received quite a few inquiries. Told everyone there will be an open house at xyz time. One lady called and claimed herself being in CA and could not show up that time, but she is very interested and willing to make half year rent without preview. Told her thanks for the offer however it is not fair to others who had made decision to show up that time, and she can email the application if cannot make it in person. That starts the war...she began freak out claiming I am discriminating her since she cannot show up. A few mins later, a guy claimed to be her husband called again stating 'you are talking to a CEO of a major corporation'...o well, another round of crazy bs. Shut him down pretty quick when he threatened to let his attorney to sue me for discrimination by telling him i  have attorney too and let your attorney talk to mine, if he is going to call me again, i will sue him for harassment. Is the whole thing crazy? first someone willing remotely to pay half year rent without even see? then a 'CEO' is interested in my small town house and played with me for a phone call? o well...but feel there might be more entertaining way to handle this situation, anyone?

seems like you can transfer the title to llc once you own the property, meaning pay-off the mortgage and get the title from the lender?personally I tried to work with lender to transfer the title to llc with me as a guarantor, but got declined. 

it is a seller market now...if you can build new, you can price it and bag the profit easily. but if not, it is just very time consuming to find the deal and make it through against all the cash buyers. I would suggest look at whole DFW area instead of just FW. 

echoed on @Todd Plambeck , does Keller fall under 1% rule? i dont think so, but if you look at other neighboring cities, i am sure there are some deals over there, just need take it as a serious business with time and effort to source the deal. 

I talked to my lender to transfer the rental tilted to my llc and got declined. I guess it is up to the lender's risk appetite 

cash to cash return on the SFR rental is not that great in the cities you look for, too hot to get in without cash offer or significantly higher noncash offer. Apartment might be a good cash flow, but normally wont bring a huge appreciation in market value.

 hey Alex, see your profile and just curious how did you make the first step? As you just mentioned, i am seeing a lot potentials in Dallas now, however it is getting a bit too hot now with so many private equities and cash buyers? how would you navigate in a such market, especially how to accumulate cash flow for a big project? thanks

how you guys bid in a cash buyer market now? i can see some great potential deals but if you jump on the bid due no non cash purchase, that just kills the potentials.

Thanks @Charles Morgan@Jennifer Bennett , just posted my rental through zillow, got several emails already. thanks a lot! btw, do you all charge application fees for background and credit check? i feel it is odd for a rental by owner, but like to get your thoughts on this. thanks

welcome on board, Bryan. Plano market is way too hot, so is Frisco. the cash to cash return on the rental is not attractive but holding could be a great potential.