All Forum Posts by: Ted Kawabata

@Joe Splitrock Thanks.

The only great comp is a similar place with a similar ADU, only the main house is 310 sf smaller.

The appraiser gave an adjustment on the square footage issue of plus $7,800.

But at a conservative $90/sf, that adjustment would have been more like $27,900.

Trying to ask the appraiser to consider this logic but not having any luck...

@Joe Splitrock Thanks for the input! We’ve scoured the area for comps and nothing useful pops up. Not even duplexes.

So without a higher appraisal, I’m finding 99% of lenders won’t go higher than the loan amount I’ve already got going for me. Which is 85% lLTV on the appraised value of $162,000 —> $137,700

Looking for a “special” lender!!!

BP Universe, Is there ever a way for a lender to use the rental income to determine a loan amount rather than an appraised value?

I renovated a single family home in Dallas, Texas and it looks great and should cash flow great. But the cash flow is only good because of a separate 1/1 apartment from a converted carport (ADU). Not many comps to work with. Only one, to be exact. So my appraiser came up with a value that isn't helping me. $162,000 to be exact.

But rents should be about $2,100/mo. Just listed it and hoping to place a tenant rather quickly.

Help! Please point me to a lender that you think might be able to work with my situation and loan me $150,000 or more.

Mahalo! (Thank you!)

Sorry not Le Land.  It's De Land like I wrote in the header area.

North De Land
Florida 32724

Help me, whoever knows Orlando!

I’ve been active in Missouri and Texas. Now getting started in Orlando, Florida.

Got an opportunity to buy a straight forward 3 bed, 1 bath single family home. What are the pros and cons of long-term buy and hold rentals for this North LeLand part of Orlando?

Looking at $1,200 rents on a $165k ARV house. So the rent to value is just .07%. It's not thrilling, but I might easily BRRR this house, so it would likely be free to me at the end of the day. (Recoup my entire investment after I refinance). Are better RTV numbers easy to find in Orlando, or us this a decent rate nowadays?

Is North LeLand a rough area? Mild? Growing? Sluggish? Other characteristics that would be good to know?

Any input and advice would be much appreciated. I’m trying to learn about the different pockets and neighborhoods all around Orlando.

Thanks! Ted

All great responses! Thanks guys!!!

Our lease requires tenants to return the unit free of pest problems.

I think I’ll put a couple of roach traps out after the inspection, then let them know we’ll check them for roaches in 2 days. Then give a full refund if we see zero or very minor activity.

I’ll try that routine and see what kind of push back I get. But if I take pictures of the evidence, I think I’ll be well covered to stand my ground. It should work!

All replies are MUCH appreciated!!!

P.S. Please don't tell me to stop by at night some time.  That's literally what I'm trying to avoid, and I have faith in the BP community that a better solution is out there!

P.S. Please don't tell me to stop by at night some time.  That's literally what I'm trying to avoid, and I have faith in the BP community that a better solution is out there!

OK I don't see a post answering this questions, either on BP or on the web.  Help!

I'm checking out a tenant and he did an amazing job cleaning.  The place looks GREAT in every way.  But there is a big roach problem that I can't see.  I have 14 days (legal limit in Hawaii) to return any appropriate security deposit.  But it wouldn't matter if I waited longer... I'd have to come at NIGHT and flip the lights on to see if there are roaches walking about.

SUGGESTIONS?!  How can I detect a roach problem during the daytime at the actual check-out appointment?  Or ASAP within a few days after?

Our policy is to give a new tenant a clean place and expect it back clean.  If an outgoing tenant leaves a roach problem, we wanna call a pest control service ASAP and charge it to their security deposit.  Any advice for making this happen in a fair and timely manner?

It's happened more than once that I've refunded the deposit, advertised a vacant unit for a few weeks, finally placed a new tenant a 3-6 weeks later, and then discovered a legit roach problem.  Owner ends up eating the expense, when the former tenant should have paid the bill.  Would GREATLY appreciate any tips and tricks to minimize this occurrence!  Thank you BP!

Help me BP!

A friend and I are about to each close on our first buy and hold properties in Texas. Know of a Dallas area property manager that's outstanding?  Please refer me!

I have a guy in Fort Worth who is SOLID, but he's expensive and slow to help with rental comps and general email replies. He's a baller and has plenty of action, so it feels like he gets around to helping the little guys when he has time. Lol.

I'm looking for a PM who knows his stuff, but still has a lot of hustle and helpfulness for a guy like me. I'm likely to bring in many accounts over the years with other clients, friends and family, so if you know a guy that sounds right for me, please let me know.

Side note: I'd really rather avoid the section 8 scene, but I'm not staunch against it.

Oh... and my property is in south Dallas (a little below the Dallas zoo). My buddy's is kinda toward Mesquite (but before the 635).

Oh.. and I'm a property manager in Honolulu... so I think I'd be easy to work with.

Thanks BP!!!

Ted