All Forum Posts by: Troy Welch

I have a contract on a condo in Texas scheduled to close on Friday (4 days). The underwriter at Rocket Loans is looking for information on the condo association. We provIded all of the information we were given by the realtor. Rocket Loans has tried calling the association manager several times with no answer. Today they reached him. He cursed the underwriter out and hung up on her. There is a questionnaire that only he can answer. 

When I talked to my realtor, he told us that his assistant had to go to the association managers house to get the information they provided us in the contract - he was rude to her as well. So rude they told her to never go there alone. This piece of information might have been good to know during the option period - and he lives next door to the unit I have a contract on.

The condo association declaration says that tenant approval has to go thru the board - I'll have to find the exact wording.

I am considering backing out on the contract if that is an option. I am concerned that he is going to be a problem. Please give me some feedback.

Thanks

We used it around the sink in the bathroom on our rental. I wouldn't do it again.it wasn't hard, but it looks like peel and stick backsplash.

I like the level and stick for cobwebs ideas. I don't know why I wasn't thinking measuring tape. I have great flashlight made by Anker that I bought on Amazon - rechargeable battery, super bright, and small.

Hey everyone!  I am working on my 2nd investment property.  Last Monday, my realtor and I drove around looking at potential properties.  I got to thinking that it would be good to have a 'go bag' to bring on these tours to be able to do a good analysis of the property.  I looked up some web pages and found some good tips.  I would really like to hear what you all bring and look for when you view a property.

Here are some of the things I was thinking about:

• List of things to look at
• Instant read electrical tester
• Volt meter
• Screwdriver
• Flashlight
• Bug Spray
• Hand Sanitizer
• Phone has camera & calculator apps (does anyone have a favorite analysis app?)
• Business Cards

As a new investor living in a big city, I find that I am looking at properties in areas that I am not as familiar with. My first investment is in a city 90 miles away near where I grew up and cash flows very well. Even if I am familiar with the area, I keep asking myself :

How do I know this property will rent? School district could be a good indicator, right? but what if the area seems far from employment?

What are people in this area looking for - 1-1? 2-1? 3-1? 3-2?

I assume one of the first answers will be to find a good realtor? Can a good realtor in my area really answer those questions if they aren't familiar with the area? How would I find a good realtor in the area that I am looking? And forgive my distrust but sometimes,,,sometimes... finding a good realtor can be like finding a good car salesman (no offense to the good realtors out there)

I need a line run for electric range (approx 40 feet) and a line connecting GFCI to breaker (approx 5 feet).

I would like a price to add a switch and a box for an exterior light

That is pretty amazing. Congrats. I bought my 1st in September. Rehab is taking longer than expected due to me not hiring a project manager and not being able to pull the trigger like I should have. I understand this now so it has been a learning experience. I really want to get this one rented and start on the next one. 

How are you handling the finances of 5 properties?

So while I have bought 4 homes in my lifetime, I am new to real estate investing and have a general question about realtors. 

I enlisted the help of a friend when looking at my first property - I found it and had them show it to me. The deal fell through - owner decided to flip. 

A month or so later I went to my hometown (about 90 miles away) and had a school friend show me some properties.  I bought one that he found for my 1st buy and hold. 

I kind of get the impression that local friend is irritated as if I just wasted her time. It wasn't my fault that the deal fell thru. If she came thru with another deal I wouldn't hesitate to use her. 

I know several realtors and met many more - is it PC to enlist the help of multiple agents?

It seems to me that the more help you have, the better. Certain realtors will specialise in specific parts of town. Maybe one day I narrow the list down based on lead quality. I don't want to waste their time or mine. 

There was some good feedback on my post for the same topic. My house is in Port Neches Texas - similar weather conditions. I would link it but I don't know how.  Do a search for:

The house was built in 68. I have not confirmed whether or no aluminum wiring was used. I will open the panel next weekend when I am there to see if i can confirm. I will also talk to the company who replaced the panel to see if they remember - this was done in August. 

I think most of the boxes are original metal. I didn't realize that grounding to the box is acceptable.