All Forum Posts by: Peter Grosso

Hello All, 

      Can my tenant buy my house using her section 8 Voucher income with seller financing or Land contract?     Perhaps even season the property for 6 months then buy out the loan with a conventional loan. 

I live in an area where buy and hold properties don't have very good margins.   If you are in the same boat then I would say it is a good way to get into Real Estate investing.  If you find the right people then you work your way into their network and get better deals as time goes on.  Buying and managing a out of town turnkey requires a different skill set then all the other types of real estate investing.  

If you can do it in town, then you might be missing out on the a lot of the process by going TK.  A better route might be to put up some cash and partner with an experienced investor in the area.  You could even trade a little equity for the experience. 

Hello Cynthia,

       They need the rent to be at or below $1500/m and  can put the same down as Security.   They don't want any options.   I appreciate your help.  

Hello all,

        I have  family members who just moved to Texas for work and a better life.    They have bad credit, but they have no eviction history or criminal background.   They lived in the last place for 6 years.    The father is in the plumbers union and was told there is plenty of work.       I am willing to work with you if their references are not enough.   Please contact me if you have something at [email protected]

Best Regards,

Peter Grosso

I fired one property manager about 8 months ago and split my properties into two management companies.   At first I did it so that I didn't have to move some many properties if things went bad again.   I actually learned what each property manager was best at.  I now will use one management company for lower end properties and the other for my "C+" and "B" properties.   

Bottom line, I was learned from working with different managers. 

So have you guys in Texas felt any pain from this drop in prices?  It has been more then six months since this thread has started. 

  I agree Kevin,  

I did read the contract and even asked for a few things to be changed.   This one slipped by me.    I should have read that part of the contract more literally.   I have always just had the first months rent taken by the Management company, since there was not income then there was no 10% fee.    I felt like they gave me the money for the purpose of justifying the 10% charge. 

Hello All, 

       My management company recently put a new tenant into my rental, They charge the first months rent.   Instead of just taking the first months rent they actually paid me the first months rent, then charging me the 10% management fee and sent me a bill for the full months rent. 

      Anyone else have this done?  If feels like slimy way to pull an extra 10% out of the owner. 

Hello All, 

I have a 6 unit apartment that is worth between $150-170k.   The replacement cost was calculated at $600,000.    Should I insure at replacement cost or around actual value?  Do I hedge by using depreciable value? 

Beyond that, what do you guys look for in insurance for C+ to C- properties?   

I did @Account Closed, that is why they are slow to pay me.