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All Forum Posts by: Sam Shirazi

Sam Shirazi has started 4 posts and replied 17 times.

@Bryan Noth thanks for sharing, could you pls help point out in the map where this is? SE Austin is to the east of I-35 but the Austin/SA coridoor is more to the SW correct? 

@Bryan Noth makes sense. Problem with Del Valle is its just Tesla and whole lot of "underdeveloped areas" , really need some more big names coming in there or nearby... really envious of folks who bought in RR..lol.....benefits of Dell, Apple, old Samsung and now new Samsung, wish I had enough capital to buy last year :(

@Bryan Noth does this impact real estate towards south of Taylor? like manor, del Valle etc?

@Eric Fernwood thanks so much, problem is I am first time REI. I have had 2 tenants in last 7 months, I have replaced 2 appliances, fixed garrage door, a broken pipe, fixed water heater, I have also done other things as part of meeting state rental codes which is OK and I don't treat it as a surprise expense. My worry is the total cost of repair/maintenence has exceeded >1 % of home cost which is not good and it is not even 1 full year. needless to say my cash flow has been bleeding negative (almost negative 350-400$ a month)..every time I pray if I can get a smooth month never happens. I dont know if it is my luck. I realized buying a home in C class neighborhood is a nightmare, but I took a bet on upcoming growth due to Tesla and maybe it worked as home appreciated by 20-25 % in last 7 months.

But I am unable to handle this stress anymore and not sure who is to be blamed here. Regarding my PM they notify me of everything, and sadly they send out a tech who charges minimum 80$ service fee and repairs are atleast 300-600$ depending on type of work. Whats more shocking is these fixes only come with a 1 year labor warranty . what if the same issue happens next year? I really dont know what I need to do here rather than hope for no issues going forward which is unlikely. I have no idea why tenants report so many issues? I have been a tenant myself but never had any issues and if there were I fixed it myself looking at YouTube .

Hi guys, wanted to know if real estate OOS investors in Austin use home warranty and have their PM work with HW in case of repairs ? My PM is against working with home warranty companies due to their slow response times, unable to fix the issue on time, dragging stuff and always saying "oh we don't cover that one issue "... Personally I don't have a good experience with the so called leading HW companies in the US as well for my primary residence. 

But I am really concerned for my rental unit as more and more sudden surprises keep popping up. Not sure if it is my bad luck or I just bought a cr*p house. I am not even sure if my PM is quoting me the cheapest and best service or the whichever is the fastest so they can move on. It has been a stressful year for me with respect to repairs. Only positive thing was home appreciating by 50-60K...

Can someone pls suggest if there are good HW companies in Austin or I can just forget it? Also any recommendations on how to avoid these frequent repairs? Mine is a 2005 house and when we did the inspection there were many things called out , but due to lack of budget I only focussed on few of them per my maintenance manager 's suggestions. Surprisingly the repairs that came up as part of tenants complaints were not related to any of the things called out in the inspection report. I understand I need to budget for 12% maintenance/repairs costs in my cash flow analysis but it has already exceeded that . At this point, I am running out of ideas whether to be "proactive" or "reactive"...both seem expensive ..

@Greg H.we did that, but there is always a 45-60 day window in these situations before next tenant comes in, like it is hard to make sure tenant's outstanding balance does not exceed security deposit .

@Greg H...I know no garnishment,but I can freeze his bank account or something right? I mean what the heck? what if every tenant continues to do this ? how do you collect money in Texas?

Hi guys, I have a rental property in Austin, TX. I am in a situation where an old tenant broke the lease and owes me about 5K after deducting security deposits (2 months rent till replacement is found, early termination fee, some damage fee). My PM told me they will report to collections but said if I were to pursue a legal action they can support in providing any docs to attorney .

I did some online search and found that even if judgement came in my favor it would be hard to extract any money as I am responsible for money collection and not the court. From what I know tenant has a high paying job (WHEN we screened for employment verification ). He did not lose his job (no COVID related issues) and PM probably might have his bank account # (not sure)

Can someone pls advise what I could do here? If it was 1-2K I would have just reported to collections but 5K is pretty significant. Its a year worth of property taxes -:) 

@Austin Martel thanks a ton !, the assessed values and corresponding tax $$ amount is readily available on zillow. But based on my analysis the assessed value and projected home value usually have a 10-15 K delta but this year/2020 was crazy and probably once in a decade type of growth where people bid 100K over...so would be interesting to see how next year's taxes look like..