All Forum Posts by: Ronnie Sparrow

Here is a very good and cheap way to do it and this is the way the professional wholesellers do it. Make several bandit signs that say " Investment Property for Sell 3/2/2" or "Must sell ASAP 3/2/2" or anything like that and you will get local investors calling you and asking you about the deal. When they call just say that you just sold that property but you have more coming. Ask them to leave you their contact info. and now you have a potential buyer.

Thank all of you for your responses. Fortunately I have an attorney that responds right away even on Saturdays and he has taken care of my concerns. This is definitely a breach of contract and I am under no obligation to return the deposit. He is going to draft a letter and send it to them explaining the process. The market is going back on the MLS today. I have always believed that paying for legal and quality information is worth every penny.

Do I need something in writing from the tenants say they are backing out?

Can I put the property back on the market now?

Not sure how to handle this situation. I have a signed lease for a year and a deposit of $1,600, the tenants were scheduled to move in on June 5th 2015. I get a call today and tenant wants to back out of the lease now. What should I do. The lease is a TREC lease from Texas. Do I need something in writing from them? Do I keep the deposit and put it back on the market? Do I return the deposit to them and move on?

Need advice.

Chris, Welcome. I live here in Spring and invest locally. Call me if you need any help with anything.

I am really upset at what insurance is costing me on my latest rental property. All my other properties are from $850 to 1,000 per year. This last property is $2,300 per year. My insurance guys are telling me its because the property is over 30 years old. I was built in 1973. This is going to kill my cash flow. What can I do to lower my premium?

Paul I concur with Jerry, I used Gerald Duhon on my current investment property. I paid him $350.00 for a structural engineer report and he saved me 7,000 of foundation work plus all the flooring repair that would have to be done. I highly recommend getting a structural engineers report it will save you lots of money. Foundation guys love fixing foundations even when its not necessary. Just because there are signs of foundation movement in the house does not mean it needs to be repaired.

Here in Texas it is a shared fence. If I was you I would split the cost of a new fence. You can make it a good neighbor fence with alternating fence slats facing both properties. I did that last year on one of my flips and it worked out great. I actually shared the costs with two different neighbors and everyone was happy. If you want a great fence contractor call me and we can connect.

That seems awfully low. I was thinking more like .25 cents per envelope. That includes handwriting the return address, mailing address, stuffing the envelope, putting the stamp on it and dropping off at the post office.

How much should I pay someone to address the envelope with return address, mailing address, placing the stamp and stuffing the envelope and also drop in the mailbox?

I provide all the material envelope, letter and stamp.