All Forum Posts by: Guy Gimenez

My investor friends who joined an investing franchise were severely disappointed. It was nothing like they were told it would be. Do yourself a favor. Start building relationships with retirees who want a better return on their money. Provide them proof of your ability to find, fix, flip (or whatever strategy you plan to use), and then start with small amounts of their money. As they see their money is safe and you're succeeding with your plans, they'll usually ask to increase the amount of money they loan to you. This happened with almost every one of my PML's. 

It would be considered a 2 bedroom with a "flex space" which means you have one extra bedroom to rent. I'm having to make some assumptions because there is missing info in your post, but it sounds like the flex space doesn't have a separate door to the exterior. If so, the flex space is only useable for you since you don't want a stranger entering your master bedroom in order to access the flex space. If that's the case, the flex space adds no value from an income standpoint, unless you spend a little money to put in an exterior door and window. 

$995 Broker Transaction Fee? Your broker just gave you a reason not to trust them. 

Follow UHaul data. There's a reason folks are fleeing the west and northeast states for more fertile ground in Texas. The high taxes are problematic but Texas is far more landlord and business-friendly than CA, NY and most other states. I stay in the submarkets and rents do just fine.

In 2023, Texas was UHaul's top destination (3 years in a row) for one-way trips. 

While you may not have a problem with it, future buyers may. As previously stated, each state has different and specific adverse possession statutes and you should investigate this further as it certainly could hinder a sale in the future, and you may find that future buyers are not as reasonable as you. And the fact the new owner of the neighboring property also failed to do due diligence should not factor into your decision to keep, if still allowed by your state laws, what you presumably paid for. 

Each MLS will have their own rules but the State of Texas doesn't regulate who can and cannot market on such a platform. For instance, in my area, anyone with an equitable interest or a limited POA can market the property. Of course, the party with an equitable has to clearly state that they do not own the property and that they merely intend to assign the contract, if in fact that is there intention. In a sub-to or Novation, it's typical to get a limited POA with allows for advertising the property on behalf of the seller.

Marketing, relationships, OPM. 

Wash, rinse, repeat.

1. Seek a consultation with legal counsel if you believe you have lost money and the amount of money lost makes it worth the time to pursue a complaint with the Texas Real Estate Commission and possible reimbursement from the real estate recovery trust account. It will not be a quick process though. 

2. It would be foolish to sign a new contract with the same brokerage. 

3. Make sure every phone call with your brokerage is recorded (two party calls only or make notification of recordings if more than two parties involved) and every email and text is saved. Anything in writing or recorded is much harder to dispute. With your next brokerage, make sure you start this process with the very first conversation...record every communication and save every email / text from day one. 

4. Due lots of due diligence before hiring your next brokerage. There are too many D/D items to go into here but you can always start with the Texas Real Estate Commission website and search for prior actions taken by TREC against your current or future brokerage. Then formulate your questionnaire. 

A legally formed contract does not have to be notarized to be valid and enforceable, including a lease agreement. DocuSign will work fine. 

Seems like this would be an "unseen" benefit that would be used by few and seen by even fewer. Can't see how the additional $5 per resident who "opted-in" would be worth the potential damage that might come from the towing service vendor doing a sloppy job or worse, damaging a vehicle. The tenant will come back to your management company to complain. If it isn't about the "kickback", charge $5 more per month and do something that would have an impact on a greater number of residents and make ALL residents feel more valued because they see that management is going above and beyond. Monthly social hours with hors d'voures, community BBQ, pool party/cookout, monthly car wash, monthly giveway's (gift cards, dinner with management, etc. for a small group (2 to 5...and post pics on your website) who provide feedback on what areas management can improve, etc. If you allow pets (and most people treat their cats / dogs as family) and a good portion of the tenants have pets, partner with a local veterinary clinic that will provide a free visual exam or similar service.