All Forum Posts by: Susan Charbonneau

I like Dellview neighborhood. It's close to the freeways and medical center. The rents are high and relatively safe. The schools are in the NEISD district. I want to focus in there and get more SF there.

I would take a look at the Dellview neighborhood in San Antonio.  The rental prices are high and people like the location close to the medical center and 410 and I-10. I never have a problem filling my houses with great tenants. Medical and military seem to be who wants to be there. As a matter of fact, I am going to start selling my properties in other parts of town and just focus there.

Hi BP fellow investors. I have a house in the Hot Wells neighborhood that is available for sale. It is a 3-2 and has been completely remodeled.  New roof and foundation were done in 2017.  It is on mls for sale. When I had it as a rental in section 8, I had plenty of takers and had great returns. But now, I want to sell that and focus on mf. So it's time for me to cashout.  If you are looking for a great rental let me know. This house is completely ready to rent out or move in.  Incidentally, it is a very quiet area and I haven't had a problem with crime. I had more problems on the west side of town. If anybody is interested in seeing it, let me know.

I think what I would do would be to let my realtor know that for these bank properties, I would put my bid with the listing agent. Then if I get them, my realtor will then become the property manager for these houses. I may even have to throw him a little bit of money since he wouldn't be in the deal.

It would be cool if the bank stopped using this guy-I have heard grumblings from other investors that he keeps these good deals for his buddies.

I want to be his buddy too!!!

Thanks J for your response,
Sorry for the confusion-My offers weren't ignored they were rejected. The offers were acknowledged each time.

If I am understanding you correctly, are you saying that these prices are placed low to get a bidding war going?

I hadn't thought of that. I don't know if that is what is going on or not.

It still is irritating. My thought process, is if you post a price and I offer you above asking price, I have as good a chance as anybody.

I am new to this investing thing. I have a lot to learn.

Hi, I have made several offers that are great offers. All cash, over asking price and quick close with no contingencies. Each one has been ignored. It is always the same realtor that is doing the listings.

I already have a good relationship with my realtor ( he is also my property manager for my rentals)

I almost wonder if I should be making these offers through the bank listed realtor instead of my guy.

Last house was listed for 43,900. I offered 48K, all cash and no option and quick close. I was rejected twice for the same property.

The other house was 64k and I offered 68K-all cash, no option and quick close.

Same guy for these houses. He also has this irritating pitch, on all of his MLS listings. Multiple Offers received. Especially on day 1.

I am most irritated. Thanks for your advice.

I have 2 houses that are 3-1's. One of my houses is a 4-1 and I am getting 960 a month for this. (I bought it for 28k). I am not sure how I feel about 2/1 houses but I guess if the numbers work-I would buy.

I think your deal sounds like a great one. I wish we had those prices here. I would buy about 10 properties tomorrow!!

I just checked my fico. I have extremely low debt to income ratio. 4 fully paid for houses and only one credit card with less than 2000 on it. So why is my credit score only 780?

I thought for sure, I would be at 800.

Could it be that since I paid off my mortgage 3 years ago, I hurt myself?

No, I don't own it yet, I just won the bid. I had their report (hud) and then I hired an independent home inspector. The HUD inspection didn't mention anything about the subfloor and the foundation. Thats why I bid on it because it was such a clean great house with lots of updates.

HUD still says no to the earnest money because I am an investor, however I am going to tell them I need an attic access in the house. They should let me have that.

The home inspector that I hired found it when he climbed under the house. It was never mentioned when I read the hud report.

I won a bid on a HUD house. I bid on it based on the HUD home report. It looked like there wasn't too much to it. I also had my own home inspection done.

Turns out, it has some major flaws ($$$) The sub floor and beams under the bathroom are rotten and will result in the bathroom being totally torn up to get to the beams and repair and then putting the bathroom back together.

The other thing was-there is no access to the attic. None, zip, nada. The AC/heater checked out fine as far as the temp staying accurate. But not being able to see up in the attic really worries me.

According to my realtor-You buy as is and you lose your ernest money. But upon further reading, It looks like if you can prove there is a major safety issue (like a bathroom collapsing from rotten beams or the fact that the house had two fires in 2003-according to the next door neighbor) I might be able to get the ernest money.

Numbers on the house. HUD had the house listed at 61,500. I bid on it for 55,400 and they took it. The tax appraisal office has it listed at 72,270. I wasn't planning on spending a lot of money for repairs for this house. It was in great shape. New paint, new windows, Central heat/AC. New cabinets (all probably because of the fire)

I have a couple of options I see, Go back to HUD show my home inspection and say I want the money back based on the safety issues or wait for the price to drop further then try to get it cheaper.

Has anybody been able to get their ernest money back?

Not being able to get into the attic for an inspection really scares me. Especially if their was 2 fires in the attic. There is no telling if the trusses are stable.

Thanks for you help in advance. Sloozy8
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