All Forum Posts by: Cesar Egas

Yes, we manage the property and have had a couple of maintenance calls directly from the tenants. They've been great. Payments have been on time/early each month from CRS. The process is that we screen the tenants and sign the lease directly with them, and CRS makes the payments directly to us.

@Will Fraser So far it's working out great. Their 6-month lease will come to an end at the end of February. 

Hi All, 

Has anyone worked with CRS Temporary Housing? They contacted me wanting to put a displaced family in one of my rental properties. The family's house was burned in a fire. They pay quite a bit above market rent (almost double) for a 6-month lease with the option to go month-to-month after that as the family's home is being repaired. Just wondering if anyone has worked with them before and if so, how was your experience?

Thanks! 

Hi all, I'm in process of negotiating an off-market deal, however, the sellers now say they need money to be able to move themselves and all of their stuff out of the property. They are asking for two weeks after closing to be able to vacate. (We have not signed contract yet, just verbally agreed on purchase price.) How can I avoid this and still move forward with the purchase? Any creative ideas or advice? Thanks.

I think people are over reacting too much. I'm a Landlord too. Just think for a minute, who needs to proof what to who? Just go ahead and proceed with the eviction as normal, if the tenant can't proof or doesn't wanna proof that they can't pay the rent. Guess what? They will be gone.

Bad things happen all the time, control what you can and prepare for what you can't.

If you rent your properties to questionable shady tenants, it's the Landlord's fault. If you use too much debt that you can't handle during tough times, It's the Landlord's fault.

"It's only when the tide goes out that you learn who has been swimming naked."

Hi All, 

I am considering using a Homestyle loan on my next buy-and-hold rental. Can anyone tell me if I am allowed to complete the renovations myself? Oklahoma does not require contractors to hold a license. I am insured. 

Thank you! 

We have just purchased our first buy and hold. We are in process of completing renovations and will put it up for rent soon. I saw that several others recommend Replacement Cost Coverage vs Actual Cash Value Coverage, however, our property value is around 55k and we most likely would not rebuild. It is in a class C neighborhood. One insurance agent I spoke to said to get the highest possible liability coverage ($500k.) Another quoted me for $25k and said via email, "I would not let this worry you. In 20 years of selling insurance we have never paid a single liability claim on a policy. I am the largest independent insurance agency in Oklahoma too and never once have they paid a claim. To pay a liability claim you have to be found at fault or liability for a tenant's loss. The burden of proof is so high that this never happens."

Any feedback is appreciated. Thank you!

I appreciate everyone's answer, you all got me curious about Del City inspections, can everyone give me a little bit more details about them? Ron you mentioned that you don't like West of Sunnylane, but what about between Sunnylane and Sooner? Would you consider that a ok area?

I'm trying to crunch the numbers, Anyone in Biggerpockets that is investing in Del City, Oklahoma? How much are those houses renting for? What is the vacancy rate in that area?

Thanks @Gerard J. It wasn't easy, and I was going against the odds since I took the Real Estate Course a little over a year ago, to be honest I was able to answer some of the questions in the exam thanks to BP podcasts. LOL 

I don't think I will ever stop learning, I'm getting addicted to Real Estate lol, those sounds like good books I will have to check them out later, I read few books too but one of my favorites is "The ABCs of Real Estate" by Ken Mcelroy, I'm currently reading "The Book on Flipping Houses" by J Scott and I'm really enjoying it, after I'm done with that book I will start "The BooK onTax Strategies for the Savvy Real Estate Investor" by @Amanda Han and then I will continue with "The Book on Rental Property Investing" by @Brandon Turner, I already have both of these books.

Thanks again, and good luck to you too man!