All Forum Posts by: Victor P.

Interesting. In my case I have purchased a duplex in which I will owner occupy. I have my girlfriend's brother, who is property manager, to help me navigate the rules in our state.  The previous owner said he will be happy to make the intros, however if he does not in next couple days I will be paying a visit to my new neighbor. Will ask for a day and time to review the lease, and the move in checklist they filled out with the previous owner. 

I have been hearing some very negative feedback on this corporate home rental company, American Homes 4 Rent. 

I came across this article regarding their alleged poor customer service. 

http://www.abcactionnews.com/news/tenants-frustrat...

Anyone had any personal experience with this company?

Is this good or bad for us investors renting homes out?

Vic

Wanted to float some thoughts with you all, 

My home is currently valued at $220k, originally purchased for $155k fifteen years ago.

I have enough cash on hand to pay off the remaining mortgage of $120k and have a paid off home to either live in or rent out.   

Is it better to pay off my home and then apply for a loan on another home?

Or take the money and use it toward down payments on several properties? 

First option leaves me with a paid off home and a slow start on acquiring properties. 

Second option puts me in more debt for a bit but a quicker start on acquiring properties. 

Thoughts??

Thanks, 

Vic

Sharon, 

Why do you think single-family leases are down but townhome/condo leases have increased. What is causing the rent decreases as well?

Vic

If the microwave came with the property and is included in the rent as one of the appliances then the landlord should repair or replace it. 

Looking to prepare my home to rent out. 

Currently kitchen, laundry and downstairs bathrooms have linoleum floors, except master bath and walk in closet has carpet. Very worn out carpet in all bedrooms, stairs and upstairs main area. Living room and dining area has laminate flooring.

So my question or thoughts:

1. Is it good idea to install wood laminate flooring throughout rest of home except bathrooms, laundry and kitchen.  I am considering this so I do not have to deal with carpet cleaning or replacement as tenants move in and out. 

2. Or wood laminate only high traffic areas like stairs and upstairs main area and replace carpet in the bedrooms.

3. Install ceramic tile in all areas that have linoleum (bathrooms, kitchen, laundry)? Or leave the linoleum?

I do want to replace carpet in master bath with tile. 

Thoughts?

Vic

Hello All, 

Seeking recommendation for an attorney in the Dallas TX  area the my daughter can consult regarding a disturbing incident that occurred this week at the apartment complex she rents at. 

If she feels like she needs to take legal action I would like to point her to an attorney that has experience with dealing with apartment complexes. 

Thanks, 

Victor

Wow, 

What a good read all this is. As a new entry into wanting to buy and hold some property I am wondering if I should wait a little bit for the sellers market to cool off. 

However I find myself in a unique situation in that I have my principle residence in DFW (Little Elm/Frisco) but work in Houston every other week. I borrow a friends RV and pay $550 a month for the RV spot in Houston.

I want to downsize my living space, and maintain a presence in DFW although I work in Houston.

In DFW, I am debating on 1) selling my home and buying something smaller or 2) keeping my home(good location) and turn it into a rental, and buy something  smaller with less upkeep. Maybe even a duplex and house-hack. 

I am also considering buying a duplex in Houston and house-hack, and put the money I am throwing away on RV lot rental toward a duplex with a tenant paying rent toward the mortgage as well. 

Much of what I hear from our BiggerPockets host is to not wait and start now. However I am a bit hesitant as it appears much of the input here seems to indicate property might be a bit overvalued due to supply and demand. 

Thoughts?

Vic

Appreciate all those inputs. I have listened to the radio show several times and what piqued my interest is they are Texas based (Houston/DFW). Also they mention using self directed IRAs which also interested me. Anyone follow their advice/training in that area?

Thanks

Vic

Hello All, 

I have been listening to a show on AM radio called Lifestyles Unlimited, which also offers training in real estate investing. 

Has anyone heard of this company or used them? I am interested in your experience if you paid for their training and membership. 

Thanks, 

Victor