All Forum Posts by: Mike M.

Jon, congrats on the yellow letter success! It sounds like the start of an interesting gig in Austin.

Jon Klaus, are the A-D property classifications shown on the county's tax roles? I've looked till I've been blue in the face on how to interpret Harrison County's data, but haven't had much luck (although a call in to them wouldn't hurt). I take it that the area classifications can possibly be derived from the majority of property classifications but also may have an investor-subjective component to them?

Glad to hear it's going great so far- hope some turn into great deals. Keep us posted!

If you're not concerned with the landlording business of existing tenants, current cash flow is good, and appreciation prospects are strong, I think you've answered your own question on whether to purchase. Best of luck!

Perhaps call me crazy, but if appreciation is looking like a slam dunk but you have concerns that the management of the tenants will be a chore, and your financial position allowed it, could you reduce the number of tenants to a minimum to break even until it's ready to be converted to the higher-end rental? Would you be in a position to buy and sit on it (assuming you had a plan for maintaining a vacant property)?

No doubt that the property is unloved. One half dollar's worth of stamps and envelopes is a wise investment.

Mike Reynolds, welcome. Where in East Texas are you located?

I'm not sure I follow what your insurance agent said. Wouldn't your insurance policies be on a per house basis anyway?

As far as T&I, we escrowed them on our residence when we bought new a few years ago. I got them removed from escrow because I got tired of having to jack around my monthly payments to make up for overages/shortfalls. It cost me $500 to do so with my mortgage provider.

I know nothing more about this casethen your post, but i find it frightening that the burden of proof of wrongdoing was so blatantly swapped from the plaintiffs to the defendants. Equally scary is that no attempt was made by the plaintiffs to find a reasonable resolution and instead socked them with over a million in charges.

Best of luck to you in OR. Thanks for the read.

Great post. I voted 1.5 weeks ago. Many likely don't vote because their vote doesn't count like a vote in OH, CO, VA, FL, etc. I think it's beyond time to disband the Electoral College, or at least make the EC voting proportional. But that's another thread.