All Forum Posts by: Sib Bahjat

Hello all, 

I am in the process of rehabbing a 1500 sqft home in Colleyville. It may be a large project. Does anyone have a reputable company that can meet deadlines? Any feedback would be greatly appreciated. 

Have you done a comp or do you know how much the house will appraise for? I understand you have it under contract for 58k, but what is it worth?

Anything with wheels depreciates, however, if mobil homes are bought right and has space of land, it can be very profitable. 

Does this property offer any land? What is in proximity of this property?

I actually agree 100% with Luke! I-35 corridor is a great area and gives you a variety to choose from. Great area to cater for folks that want to rent long term. I actually have great luck with DFW. A lot of people shy away from DFW due to competition,however, there are still great spots to cherry pick and be successful. Whatever market you choose, make sure you do all your research. I like the DFW market because over 150k people are moving here annually. Not sure why one would want to stay away from DFW, but I would love to hear and hopefully I can learn something. Thank you all!

I appreciate all the feedback. I will circle back if anything worth while. 

Enjoy the rest of your week everyone.....

Hi Brian,

The property is being used as a rental.

I purchased a SFR property years ago and I financed it under my personal name. I then transferred the deed to my LLC. My CPA advised me to transfer it back to my name and not leave it in the LLC. His reason was that I would be better off from a tax standpoint, I am not 100% certain I agree with him. Any shared experience in this space is appreciated.

Hello All,

I recently purchased a commercial property in DFW. If anyone has a reputable commercial contractor that you can refer me, I would greatly appreciate it. Please message me. 

Thanks!

Hi Aaron, 

I think the folks here that gave you suggestions were all great and helpful in my opinion. I really don't think there is a right or wrong answer. In the business world, it is not always so black and white. I really think you can use this situation to your advantage all the way around. You can set the tone with your pm and your tenant. What I mean by that is, if you decide to forgive the $5, then you can hold the tenants feet to the fire and let her know you are watching her and next time late fees will apply. You can have a dialogue with your pm and hold them accountable to do their job at 100% because that's why you are paying the the 6/10%. This will be a good $5 lesson. 

Happy New Year!

Thank you Carlos. Will do!