All Forum Posts by: Ramon Smothers

Thanks @Mark Nelsonthe only problem is that I won't be able to test the drain until after close. I wanted to get some insight as to whether or not this problem would be a deal breaker or not. The feedback I've received is pointing toward it not being that serious. 

Yes @Theodore Riverayou assumed correctly...the water was in fact on when the inspection was done so your analysis seems correct. I've gotten the same response quite often so I'm really hoping that is it. The next problem I have is hoping that the current owner addresses it before close. I'm not sure if the tenants have formally put in a maintenance request that would require it to be fixed. If it's something that should be an easy fix then I'm not too concerned if it is or not but I'd rather not have to on my very first property immediately after acquiring it. 

North Houston @Ray A.

Man I sure hope you're right... @Jassem A.

So I'm currently in escrow with closing set for two weeks away...I had the property inspected about a week ago and am now out of option period. The inspector did point out some evidence of water damage on the ceiling and stated it might be from the upstairs bathroom...it tested negative for moisture but probably bc the unit was vacant at the time. We also noticed repair work on the ceiling hinting that it may have been previously repaired and he stated that it probably was remedied. 

Ok so fast forward to now...the unit is now leased as the current owner recently leased it. We received the new tenants move-in checklist from his agent and it states that water leaks from the ceiling when the tub is ran in the upstairs bathroom. Of course this is now a problem as closing day quickly approaches. My question is, has anyone ever dealt with a similar situation? My option is looking like hoping that the current owner fixes this tenants complaint within 7 days as it states he has to on the lease or just walking away from the deal. This problem will become my problem once we close. 

P.S. I'm in Houston, TX and if anyone knows of a good plumber...send him my way. I may need one lol. 

Hey @Steve Vaughan thanks for the welcome...it's a duplex. Initially I searched for tri's and quads but they're so scarce in the Houston market. I'll keep looking. 

Thanks @Denita OzenneI'm glad to be here!

Hey @Andre Beraudman these closing costs are kinda steep though! This initial property i got on an FHA loan with minimal down payment (3.5%). As of now, the closing costs will be more than the actual down payment! Is this normal in your experiences?

Hey thanks for the well wishes and same to you man!  @Ray A. will definitely keep in touch.

Thats amazing bro @Andre Beraud oil and gas is so shaky as of now, we should definitely be focusing on our futures and real estate is where mine is. I'll definitely email you and we can link. 

Thanks for the welcome @Rachel Pervis this is definitely a melting pot of information. Look forward to this new journey! KIT!

Hello BP fam! I'm excited to be a part of this finally as I became familiar when my fiancee' joined and fell in love with everything here! I've listened in on the podcasts and have joined the webinars and am truly impressed with the knowledge and genuine concern that everyone here shares. I'm a brand new investor currently residing in Houston, TX and working in the oil and gas industry as an engineer offshore. I have my very first investment property in escrow as of now! I look forward to the opportunity and communicating with everyone here!