All Forum Posts by: Paul Ewing

I agree with the others that cats are a pain and can really mess up a place more than dogs.  I am living with a cat lady and cat lady in training so I know first hand.  Between the urine, hair, and claw sharpening on all the woodwork they can really destroy a place.

I would probably pass if your main plan is to put a highly allergic person in it, but if the numbers work out well and you can rent it to an animal lover it might not be a bad deal.

Whatever it is, you need to get moving on determining the problem and fixing it.  In my county in Texas a malfunctioning septic system is a criminal offense with big fines and potential jail time if ignored.  As others have said it sounds like a system that needs to be pumped or possibly a crushed line to the leech field if it is a standard system or damaged pump or heads if an aerobic system. 

@Shree R.  To make the @ tag thing work you need to type @? and select the name you want from the list of people below the reply box.

I have seen this happen a few times around here. One was a great deal on a doublewide on an acre that got snapped up in the HUD OO Exclusive period. Within a couple months the doublewide was moved off the land (sold to a local lot) and the acre was for sale for more than the investor paid for the whole package.

Just as long as those horrid tiny combo washer dryer units don't come over here from Europe.  I had them in a couple of apartments when I was working in Cyprus and Denmark.  They aren't the stacking ones we have here.  The same front load compartment washes and then drains and semi hot air is blown in to dry the clothes.  It seemed like they never would really dry the clothes and I always had shirts hanging around the apartment to dry.

Be sure they haven't trashed the place before you give them the whole deposit back.

@Shree R. Be sure to check into the neighborhood you are buying in. Many of the developments going up in the DFW area have HOAs even for regular houses. I personally can't stand the idea of an HOA. Just my time in Arlington dealing with the crazy code compliance cops wanting you to mow the grass in a drought and keep your firewood at least 12 inches off the driveway etc...

When I bought my first two units (on the same farm) my credit score wasn't too hot from some issues when I was laid off in the DotCom bust. I was able to put over 55% down and had no debts and a paid for house. It was an in-house loan not a conventional or FHA though and had to be approved by the loan committee meeting at the bank.

I don't think there is anything wrong with renting the house to others and downsizing to an apartment.  I am in a similar situation.  We live in a $30k doublewide while renting out the $150k house I bought a couple years ago because we are happy where we are and it was going to be a pain to move.  The rent we get is almost three times the mortgage payment and we will have it paid off in another four years.  That said, you need to make sure you have enough cash reserves like others have said to be able to handle a few months of double housing payments if you have a problem tenant. 

Congrats to your son!