All Forum Posts by: Tony D.

Thank you for the kind words and encouragement everyone!  BP has definitely made it easier to find resources and connect with others that have same mindset.  Special thanks to @Vijaianand Thirunageswaram who has been more than willing to answer all of my questions (as newbie as they were) and share his knowledge/experiences with me.  

I am excited to start this journey and hope that I can continue to learn, grow, and eventually contribute back to this community.  The most common answer I heard on the podcasts about those that never get started was the fear of failure and I was no different.  What helped alleviate some of the fear was knowing that I had a plan and hearing that it is not failure until you quit trying.  I know mistakes will be inevitable, but as long as I learn from them and of course not make the same mistake twice (hopefully) I will find success!  

Thanks again everyone here for the support and Vijai for your continual guidance! 

@Scott Trench - Congrats and thanks for writing a great informative blog post.  Definitely inspiring to an aspiring real estate investor!  I am in the process of talking to lenders to get a feel of my borrowing power.  

@Jay J. - There is no need to discount his success.  Sure, there have been plenty of people that have achieved similar success but as a new investor I find these posts motivating as well as encouraging to read!

Keep up the good work, Scott!

Wow, that's disappointing to hear that a referral from someone on BP was a scammer.  Props to you on discovering that out quickly and getting away from that!  Do you mind sharing how you realized it was not a legit lender?

Have you tried looking at BP's hard money lender list?  There seems to be quite a few on there in Texas.  Best of luck to you though.  You seem to have found a great deal!

For my own knowledge, why are personal SFHs not good rental properties?  In my case, I do not have a mortgage on it and from rough calculations it seems to make sense to rent out.

@Brian FosterThanks everyone for sharing your knowledge on PM's and making several recommendations!  The community here at BP is great and I really appreciate the expertise!  I am looking into each suggestion and will reach out if I have any additional questions (I'm sure I will).  

@Jieh Larson - I'm glad to hear that they have worked out well for you when you moved, I will take a look at them as well.  Thank you for the recommendation, Jieh!

@Melissa Gittens - Yes, that's what I've read from other people that the PM's should be the eyes and ears and that's why I'm looking to find a good one.  Thanks for the tip, Melissa!

I've been reading that PM's charge about 8-12% monthly fee for their services.  Is that range also typical for the Houston area?  

Tony

Hello BP!

I am seeking advice on how to go about renting out my current home in the west side of Houston, Texas (Bear Creek area). I am planning to move out of the state so my thought was to get a property manager. Are there property managers that would take on just 1 SFR? Also, the house is a bit older (1970's) and I know needs some work done to it. Do property managers help determine if a house is "rent ready" or make recommendations on what needs to be improved/fixed before it can be rented? Do I also need a real estate agent to list the home for rent or can all this be handled through a property manager?

I appreciate any recommendation on property managers that can help me with this.  I look forward to hearing all your advice and suggestions.  Thanks BP!

Tony