All Forum Posts by: Mohammed Nasser

Hello BP Family,

I am currently employed full time as a scientist in the biotech sector and, alongside my dedication to science, I have a passion for real estate. Being a sociable individual who enjoys connecting with people, I decided to get my California real estate license, aiming to try my hand as a real estate agent in the vibrant Bay Area. Having completed all the requisite coursework, I am waiting approval to take the real estate license exam. My plan is to start my real estate journey as a part-time agent, and I plan to look for a brokerage that is open to giving me an opportunity.

To the seasoned agents within the BP community, I would greatly appreciate any insights into the resources you use regularly to stay informed on market conditions and news. I would also love to hear any recommendations on finding suitable brokerages, effective prospecting strategies, and any other valuable advice you may have. I recently read the book "Sold" by David Greene, which offered a wealth of useful recommendations, and I plan to read it again for further insights. Thank you in advance for any valuable input you can provide! 

@Jacob V. Thank you so much for your reply, Jacob!

@Bruce Lynn Thank you so much for your detailed reply and for all the information! Unfortunately, since I live out of state I bought the condo without visiting the neighborhood. This was my first real estate investment ever and it looked great on paper (negotiated seller finance with 5% interest only payments for the first 5 years), I am learning that I may have jumped the gun on this deal. Luckily, because of the way it is structured, I am able to cash flow positively. I guess I got lucky again with my tenant as they are fantastic, but it did take a while to find a good one and I screened MANY. I bought the condo about 9 months ago but I have been thinking of selling it and moving on to a better property in a better area. I know generally it is frowned upon by investors to buy a place that is tenant occupied so that might be a limiting factor. Thanks again for your reply!

Hi BP Family,

I am an out-of-state investor and own a 2bd/2ba apartment in the Vickery neighborhood (also known as Vickery Meadows) of Northeast Dallas. It historically is a rough area with high crime but seems like the are has been improving over the years. There has been a few Starbucks and even an REI that have opened in the area. While there is still some crime in the area, some houses are going on market and being mostly bought by investors. I was wondering if anyone on this forum, either investors or local residents in Dallas, that is familiar with the neighborhood can give me an honest opinion on what they think the future of that neighborhood is? Is it a neighborhood that you think will continue to improve or get safer? do you think properties in the area will appreciate? I have done a lot of research on this online but also would like the opinion of someone familiar with the area. I currently have a fantastic tenant in place that has never been late on a payment. Any feedback would be much appreciated! Thank you all!

Thanks @Mo Karim! I put in a service request with the office of homeless solutions since reading your post. They sent someone to check out the location and while they didnt any homeless people while visiting, they did see their tents and the accumulated garbage (mostly furniture they collect from somewhere). They determined that it was a code violations since its on private property so they routed the request to Code Compliance. Hopefully they will have the items, and encampment removed. Thanks again for your recommendation! 

Hi all,

I am located in California and purchased an out of state investment property (condo) in Dallas, Tx in March. My tenant informed me that some homeless people have set up tents in a vacant lot that is located behind the complex and while the complex is gated, she has seen some of them wait until the gate is open when a car is leaving to sneak onto the property and she said she has even seen some of them jump over the gate itself to gain access to the complex. When they get on the property, they have been emptying the trash from the bins on the ground. Some of the pictures that my tenant has sent me are horrible. If it gets slightly warm outside then they are also coming into the complex to hang out in the parking lot area and making some of the residents feel unsafe. The complex has recently hired a new HOA company to run it as the old one was doing a horrible job and the new company has informed me that they are making plans of hiring security for the complex which I am hoping will help mitigate these problems. I wanted to ask if there is anything else that you guys recommend I do in this case? Would contacting the city and letting them know about the homeless camp in the vacant lot help?

I hope I am not coming off as greedy because I really do empathize with their situation, but it has gotten to a point where they are interfering with the daily lives of my tenant, her kids, and other residents in the complex. 

Any constructive advice on other things I can be doing/people to talk to that would help would be greatly appreciated!
Thanks so much BP community!

Thanks for your reply @Russell Brazil. My question is, the seller may have control of the earnest money, in which I have already signed over to them and asked the title company to release the money to the seller, but does the seller have the power to control the release of my 20% down payment back to me? I don't think so. That is the whole point of having a title company as an intermediary for the funds. My understanding is the title company should release EM to the seller (when both parties sign on it which we did) and should wire me back my 20% down payment without needing the permission of the seller to do so. It doesnt make sense that the 20% down payment stays with the title company until the seller sells the house again. What if the seller decides to take the house off the market and no longer wants to sell (so far they havent re-listed the condo)? Does that mean the title company keeps the 20% indefinitely? It just doesnt make sense.

 @James Hamling Thanks so much for your reply! It maybe that the seller is considering other options, but they did get the earnest money and they should not be able to control the release of the 20% down payment back to me. Even if they sue for non-performance or damages from non-performance, I think they judge will rule that the earnest money is covers the damages. But either way, that should not dictate my return of the down payment. I am hoping there is no suit for performance that happens but I have contacted a attorney just in case. Thanks again! 

 @Henry Clark Thanks so much for your answer! I agree, the issue is my review process which I will definitely be revisiting to avoid something like this happening again. 

 @Cole Maurer Thank you so much for your reply! Yes, you are absolutely correct, the earnest money is allowed to be legally kept by the seller and I have signed the release form so that the title company can give that money to the seller. However, the title company is claiming my 20% down payment that I wired to them cannot be released back to me unless the seller has also signed on it which does not really make sense to me and that is what I am confused about. Why do I have to wait for the seller to sign a form to release my 20% down payment back to me when I have already signed to have the earnest money released to them? I wired the earnest money (between 1-2K) earlier on during the deal and then wired the 20% down payment separately a few days prior to closing. Thanks again for your reply!