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All Forum Posts by: Suzanne Johnston

Suzanne Johnston has started 5 posts and replied 31 times.

Post: Single family with manufactured home on property

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17

Does anyone have any recommendations for financing a property that consists of a single family home, a self storage unit and a manufactured home? Apparently I can’t count income from mobile home and income from storage units changes the type of loan and the property won’t cash flow with just the income from the single family. What’s my best option for this type of property?

Post: Convert LTR to STR in Lubbock

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17
Quote from @Brandon Pace:

@Eliott Elias in addition to what @Suzanne Johnston I understand that specifically TTU football games, TTU graduation ceremonies, etc. draw guests.

Definitely the games bring in a lot of guests, but it’s amazing how many people come through Lubbock.   It surprises me.

Post: Serene, Mid Century Modern in Cloudcroft, NM

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17
Quote from @Chris Thomas:

I'd recommend the Blue Canyon Team (now Future Real Estate). Sadly, their best realtor past away last year, but Joey P. is a good choice.

Cloudcroft is an interesting market. Let me know if you want to compare notes at some poin

Good luck.

https://bluecanyonteam.com/blue-canyon-team

How would you compare Cloudcroft to Ruidoso?   I always wanted to buy in Cloudcroft and then when Covid happened pricing went crazy and I bought in Ruidoso.    

Post: Lubbock REI Meetings?

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17

Hey Michael, if you find another one, let me know!

Post: Trying to educate myself on buying a TX property with back taxes

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17
Quote from @Wayne Brooks:

@Suzanne Johnston You have find any current co owners, or heirs.


I was told he lived there over 25 years, never had any company/family visit.  Never married, no known children.  But I have not looked for heirs myself. I was asked about it because the neighbors have been taking turns maintaining the front yard and are tired of it.  They want a new neighbor and the house is starting to deteriorate and look vacant even though they’ve been mowing.  

Post: Trying to educate myself on buying a TX property with back taxes

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17

There is a house that was just brought to my attention by a coworker where the owner had died and it has now been vacant for 3 years. I’ve looked and taxes are owed for these years. I know the county eventually holds tax sales, but is there another way to approach buying a property like this? I’m not exactly sure where to start. I’m guessing the property was owned free and clear, but maybe Covid has delayed a foreclosure?

Post: Weirdest Thing You've Ever Inherited from a Tenant!

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17

@Carlos Ptriawan

That’s not fair. You have to tell! 😜

Post: Gray be gone! Please!

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17

@Sarita Scherpereel

Exactly! It’s very rare I see a house made more attractive by painting the brick. The Austin stone house I mentioned looks like plastic molded siding now. It went from an expensive, classy looking natural stone to looking like a climbing wall in a playground. I could have bought the house but had two others going and I am so mad at myself about it now.

Post: Gray be gone! Please!

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17

Can we just make a rule now that you don’t paint Austin stone houses gray? It’s not okay…

Post: Does Credit Score Requirement Need to be Put in Lease?

Suzanne JohnstonPosted
  • Rental Property Investor
  • Lubbock TX
  • Posts 31
  • Votes 17
Quote from @Bob Stevens:
Quote from @Suzanne Johnston:

@Bob Stevens

How does one get ready? Sometimes doing it, making a few mistakes and learning is the best way. Reading a book etc. Is there a class? Or do you think a pm is always necessary?

 Learning from someone doing deals hands on, not reading books and watching tapes.  I read stories daily from those that thought oh this is easy, just renovate, place an ad and rent it. Sure all is great till they stop paying, now they do not a clue what to do. Or repairs, no idea how much to pay. Have no idea how to navigate the process of getting a govt tenant. Yes, learn from someone hands on or hire a PM co for the 1st year, learn from them, hey even get to know their repair guys 

All the best 


Actually that’s similar to what I did.   I hired a property manager at first then decided I wanted to take over.  I think books can and do help, but observing and learning and sometimes disagreeing helps.  Repair and maintenance guys or knowledge is huge.  And I do think people jump into real estate thinking it’s much easier than what it is.  When I asked I was wondering if you thought there’s only one way to go and was afraid that wasn’t how my response came across.  Thanks for taking the time to reply.