All Forum Posts by: Val J.

Thanks for everyone who replied to help me. I drove to WF to view the property. I won't be pulling the trigger on this one. The area where the property is located looks void of life. It is near downtown but lifeless. Not many people were living on the street. There was an unoccupied mansion right next door. I wondered where are the people? The property need lots of work. If I had put $ into into,I don't think I would've gotten much ROI. Location, location, location right? The drive was tiring but it saved me some $ going there in person because it didn't look that bad in the pictures on the internet. To all of you out of state or out of area investors. I strongly suggest you visit a potential property and see it with your own eyes. Or, have someone you trust to view it for you and give you an honest critique.

Thanks George. I have never purchased out of my local area. So I'm somewhat simultaneously intrepid and intrigued. Since you're from OKC, do you visit the properties in person or do you have someone locally who checks out the properties and then you decide to pull the trigger. Also in the areas that you've mentioned what is a range of the purchase price point?  I was advised to avoid the East side. Your thoughts on this. Finally, I would like the name of the agent you used.

I've been on the internet looking at properties in Wichita Falls, TX. There seem to be good buys when I compare the price points to homes here in DFW. Anyone here invest in this part of Texas. I'd love to have your insight.

Before I take the plunge, tell me if you'd invest in this property for buy & hold. I'm in the DFW area. I have an opportunity to purchase a home in the Oak Cliff area of Dallas for 50k.  Foundation appear to be great while walking through and roof  is about 3-4 years old. . The house is in an estate which they are wanting to sell to settle debts of deceased parent.  House has been sitting empty for a few years. Appears to need mostly cosmetic stuff. Painting, new flooring and updating n kitchen, updating all around. It was built in 1939. I guesstimate rehab should be about 10-15k. It's an old tudor style home near the Dallas Zoo, 5 minutes from Downtown and I think I could probably get $900+ or better for rent. My biggest concern is annual property taxes  are about $1500 year according to DCAD and insurance may be about the same.   There's a lot of changes going on near this area. Bishop Arts, Deck Park & Bullet Train (maybe).  Comps near this  property that have been fully rehabbed have sold for up to 180K. There's one next street over that is currently on the market for $220k.  I'm not good with the 1%, 2% stuff so help me out with the numbers. Thinking of paying cash & getting $ out after seasoning.  Deal or Don't?

I'm becoming more of a hands on landlord based on advice I'm getting from folks on this forum. I'm having work done at one of my houses.  The repair guy told me about a spot in the ceiling in an upstairs bedroom. I head up stairs & on my way up the father (who let us in for the repairs) says "be careful it's a mess up there." Unsure what he meant I continued on to discover that EVERY room was a mess. There were SEVERAL Popeyes beverage cups that I guess they will eventually throw away, at the top of the bannister. .  Clothes were strewn on beds, floors and sofas.  No one room was cleanWhat do you guys do when your tenants keep the property in an utter mess? I was once told that you cannot dictate how people live when you're a landlord.  According to a relative at the house, what I saw was the rule and not the exception. Do you address it with the tenant or just let them live however they live? Share your thoughts.

Thanks to all who replied with your opinions.   The problem was 2 bad breakers in the electrical box. Once these were replaced everything came back on.  Many of you asked about the heating source. There is central heat and air in the house and it's an old house but I had it rewired when I remodeled after purchased in 2016. The tenant simply didn't want  to turn on the central so she chose to use space heaters I guess because the family was in that one room and it's been pretty cold here and maybe she was trying to save on her bill. We all have been experiencing high heating and electric bills. : (  This happened Saturday and the day had been pretty warm but turned slightly cooler in the evening. Not really enough (IMO) to turn on a heater but I guess everyone has their own measure of tolerance. I would'v e turned on the central heat and warmed up the house and then perhaps turned it off.  She has used the stove for heating as well causing me to replace 2 stove elements since she's been there Oct 2016. I have informed her that I will replace the stove element again but next time it will be her expense. The electrician stated as many of you have that space heaters shouldn't be used because they pull so much electricity and they could cause damage to the wiring.  This tenant is on a month to month lease, btw. Going forward I hope she chooses to use the central heat and not the stove or space heaters. As Michaela G said. The do one thing and all you otherwise.

Judy P. please explain why it's risky not to have them on a lease? If a person/tenant wants to leave a lease nor a leash will hold them.

Yesterday my tenant texted me to tell me that she didn't want to turn on the central heat so she plugged in a space heater. When she did this tripped the lights.  She flipped the breaker and the lights came back on but she's informed me that 3 plugs in the living area where this happened no longer work and the ceiling fan and can lights are also not functioning. I spoke with a retired electrician who stated that space heaters can pull LOTS of juice/electricity.  He didn't think it was a major repair but I need to get someone experienced with electrical work to come and check each plug. I am going to have this repaired but I wanted to get advice on who she be responsible for paying for this. Me or her?

Colleen F. I got a great deal on it from the site OfferUp.  I bought it from an individual who was selling it at a discount. Her installer was too busy to take on my job.

Lauren B. I already have my flooring , I just need an installer. I haven't contacted Lowe's but I called HomeDepot and they informed me that they don't install what the don't sell. I'l call Lowe's to see what they say.