All Forum Posts by: Tuan Vu

So the tenant (Section 8) wanted to rent my property. Gave a double deposit, had Section 8 do the inspection and passed, but the day after it passes tells my agent that the husband found a job in another area 2 hours away and no longer wants to rent the house. My agent said they didn't sign the lease agreement because they weren't actually moving in yet. Now they are requesting the full deposit back. Am I obligated to return it to them? The listing wasn't pulled, but we did turn away prospective tenants (for about a month) since we thought they were going to lease it. The deposit was for $3600 (2 months). Any help will greatly be appreciated.

I've been keeping an eye out, but haven't seen many deals that make sense lately. Some of the association fee's are outrageous and if you have a vacancy for 2 or 3 months that can have a big impact on your bottom line. My agent (who's also an investor) recommended I look at some modular (manufactured) homes. Supposedly they're more affordable, no monthly maintenance fee's, and rent well.

I think there might be a few places in Texas, but from what I heard not many in Texas will do them unless you have a really good existing relationship with them. 

I know a lot of people use Texas American Title at Patten Law Firm.

Try Mike McDermott with Gibraltar Morgage Services. He's currently helping me with my refinance and I believe I remember him saying it wouldn't be a problem being if it was in an LLC. So far he's been very prompt with everything.

What's the warranty on the Ikea one's like? How long is it for and it covers tenant or owner damage?

Chris Moore with Noble Mortgage. It won't let me post a phone number here, but if you want his mobile send me a PM and I'll give it to you. Or you can Google them and get the office number.

Are the payments up to date or is there any reinstatement fee? How much can it rent for?

Most of the local REIA's have them all the time. Google Rich Club Houston, Houston REIA, Lifestyles Unlimited, Right Path Realty. A lot of them are sponsored by different vendors like Jet Lending, Noble Mortgage, Quest IRA. I'd also join the local investor facebook groups because they are often posted there as well. Good luck!

I want to get back in the game and start expanding my small portfolio of properties.