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All Forum Posts by: Nkechi Jarvis

Nkechi Jarvis has started 4 posts and replied 30 times.

Thank you so much for your reply. It is reassuring to know that the security deposit is not refundable once a tenant is approved. We have notified the realtor that we hold him responsible for the deposit because he assured us he would collect the deposit payable by cashiers check. We now know that the tenant is under contract, and until the house is rented out to someone else, he is responsible for the rent.

Thank you! 

Quote from @Theresa Harris:

The tenant should have provided the deposit (non-refundable until they are moved in) at the time the lease was signed.  I'd get another person to list it right away.


 Thank you for your reply! At the time the lease was signed, the realtor asked me how I wished to be paid and I confirmed by Cashier's check. He stated that he would collect the check from the tenant same day the contract was signed which was March 7, 2023. However, we trusted him until March 9, 2023 when he stopped taking our calls and claiming he was in meetings and would only send text messages. As this long term rental deal is our first rodeo, we were not really sure how it worked. Now we know better. 

Thanks!

Quote from @Steve Vaughan:
Quote from @Nkechi Jarvis:

A tenant signed a contract for a long term lease to begin March 10, 2023...the realtor informed me that he had not heard back from neither the tenant nor the agent that showed him the property. I have disconnected all utilities including taken off the ring camera as the tenant said he did not want it, per the realtor. I have not rented a property before so I do not know if the realtor is in cohort with the tenant or if this is a strange occurrence.  What recourse do I have? The realtor said that if the tenant does not show up, the contract will expire by midnight on March 11, 2023. 

This is very confusing for me... I moved the entire furniture out and it is costing me to pay for storage. 

What do you recommend I do? What is the protocol for this breach of contract? Should I go ahead and turn the utilities back on? Should I still trust this realtor? The realtor has two prospective applications pending and he said he would contact the other two people who have completed their application...I don't know what to do.

I have never used an agent to source a tenant, but I've placed hundreds of tenants.

Nothing moves on my end and the property isn't taken off the market without holding funds.   

Mr/Mrs Tenant, congratulations on being approved.  To hold this for you exclusively, holding monies in the amount of (generally the amount of the security deposit) will need to be submitted within 48 hours.   

This is basic stuff your agent should be doing to protect you.  


 Thank you for your response. This has now given me more insight into the process. We have notified the agent that we hold him responsible for the payment of rent/deposit effective March 10, 2023 until the house is rented. 

A tenant signed a contract for a long term lease to begin March 10, 2023. The property is a 3 bed, 3.5 bath near downtown Houston. The property was fully furnished as I had it on Airbnb and Furnished Finders, but due to very low traffic on these platforms for suitable renters, I decided to get a long term tenant instead. I signed a 45 day contract with a realtor to find a tenant. The property was advertised either as unfurnished or furnished (for a higher rent). I signed a lease agreement with a tenant who wanted the house unfurnished; and I had only two days to remove all the furniture. On March 9, 2023, all furniture was removed, I notified all the utility companies to turn off supply under my name effective on March 10th, the tenant move in date. The realtor informed me that the tenant would pay his deposit by Cashiers check on March 9th but this did not happen. Yesterday was the move in date March 10, 2023, the realtor informed me that he had not heard back from neither the tenant nor the agent that showed him the property. I have disconnected all utilities including taken off the ring camera as the tenant said he did not want it, per the realtor. I have not rented a property before so I do not know if the realtor is in cohort with the tenant or if this is a strange occurrence.  What recourse do I have? The realtor said that if the tenant does not show up, the contract will expire by midnight on March 11, 2023. 

This is very confusing for me... I moved the entire furniture out and it is costing me to pay for storage. 

What do you recommend I do? What is the protocol for this breach of contract? Should I go ahead and turn the utilities back on? Should I still trust this realtor? The realtor has two prospective applications pending and he said he would contact the other two people who have completed their application...I don't know what to do.



Quote from @Jared Hottle:

Something to think about is modular homes duplexes on crawlspaces. I would call a few companies and see what they run. This has always seemed like the better option to me with building prices the way that they are.


 Thanks for this suggestion, definitely worth checking out to see if the City of Houston will permit such structures. The old houses that are now being torn down in this area are similar to modular homes you described.

Quote from @Lee Hampton:

@Nkechi Jarvis

Practically speaking, you don’t have enough width for a detached duplex. Also, you may not have needed to replat. Duplexes fall under single family code, so you can build up to two units on a single tract unless prohibited by deed. Your question can only be answered by running the numbers. There is insufficient information for anyone to answer your question. But you have the right idea in relation to midterm rentals near the center of Houston, but only if the number work and only if you are in the right pocket of that area. That area still has a mix of great and mediocre lots. I would suggest a 2b/2B on each side. One bedroom down in each unit. I would have 1 car garage on each unit with an additional uncovered parking space. I have one I’m building that will be completed framing in ~3 weeks if you are interested in getting a feel for what might work. But it will all come down to the numbers. Numbers don’t lie, everyone else is suspect.





Hi @Lee Hampton, 

 I sent you a message about your construction.

Quote from @Sebastian Marroquin:
Quote from @Nkechi Jarvis:
Quote from @Sebastian Marroquin:

How much are other duplex buildings selling for? 

See price per sq ft and compare it to your cost to build per sq ft. 

This may be eye opening one way or another. :) 

Thanks for this suggestion! I'll follow up on this.

 Curious to know what you found out? :) 

(rem. that it is not just cost per sq foot... ) 

1. You have architect fees/ drafter 

2. Surveyor and soils if required 

3. City fees 

4. Utilities (water, gas line, power, sewer etc ) 

You could be $50k to $100k in before breaking ground on your project + $150 to $250 per ssquare feet to build plus landscaping.... 

if you are in CA or any place where price per sq feet is selling for $400/500 p. sq ft or higher... then it makes sense. 

But if you are in places where price per sq ft is selling for $300 or less... then , really do the math. 

May be better to buy and expand or buy already completely built 


 We're still exploring all options at this point. We now have to change the current architectural plans from three floors to two floors to reduce the cost. We'll provide updates if any progress is made in the near future.

Quote from @Lee Hampton:

@Nkechi Jarvis

My next availability is Feb 21 or 22 between 10am and 3pm.  I have a triplex i recently completed and a fourplex in the frame stage, both new construction, on the same block near I-610 in Houston.  Remind me a few days in advance. 


 We can be there on Feb 21 around 10 am. Will remind you closer to the date.

Quote from @Lee Hampton:

@Nkechi Jarvis

Practically speaking, you don’t have enough width for a detached duplex. Also, you may not have needed to replat. Duplexes fall under single family code, so you can build up to two units on a single tract unless prohibited by deed. Your question can only be answered by running the numbers. There is insufficient information for anyone to answer your question. But you have the right idea in relation to midterm rentals near the center of Houston, but only if the number work and only if you are in the right pocket of that area. That area still has a mix of great and mediocre lots. I would suggest a 2b/2B on each side. One bedroom down in each unit. I would have 1 car garage on each unit with an additional uncovered parking space. I have one I’m building that will be completed framing in ~3 weeks if you are interested in getting a feel for what might work. But it will all come down to the numbers. Numbers don’t lie, everyone else is suspect.


 Good suggestion! I will like to see yours to get an idea of what it would feel like. We re-platted the lots at the outset to increase each individual property value and to be able to sell one unit if the need arose. 

Quote from @Cody L.:
Quote from @Nkechi Jarvis:

I have a vacant lot (40 feet by 108 feet) near University of Houston, Texas Southern University,  and Downtown Houston; and I have just recently re-platted the lot as two separate lots (each is 2,160 sq. ft. UNIT A & UNIT B) to build a duplex. My initial intension for re-platting a lot of this size was to be able to sell one unit if the need arose or to rent out the units as fully furnished mid term rentals, including utilities. I am concerned about the cost of building materials.  Initially, I thought of building a three story duplex but found out that the cost would make return on investment very challenging. Any suggestions about floor plans on small lots for two story duplex? 

Funny, I'm in the same position.  I have a duplex in Houston on a 8,000+ SF corner lot in a $$$ area (museum district).  The income from from the duplex doesn't justify the value it would sell for.   So I've debated between:

1) Chopping the two large units in half, making a fourplex
2) Adding a building on the empty land (currently an unused garage)
3) sitting on it as is 
4) Selling it off to a developer to let them do what it is they do
5) Knocking it down and building a new multi from scratch

Leaning towards #4



If you pursue #4, how much do you plan to sell it for?