All Forum Posts by: Wale Lawal

The Texas market is still up and running, and it's not slowing down. I have clients from different states investing in the Houston area; you just need to know where to look.

Remove the $50 per month. However, please make tenants aware of the changes made if they get another dog. It is important to maintain strong communication with your tenant, and you are also being fair to their circumstance.

Talk to your lender; they can guide you as there are requirements to be met. But from my knowledge, you should get 3.5% down payment for a duplex.

Someone should always go through the form with you. I would call the inspector and schedule a time to discuss.

Please, have all your questions written down, so you don't forget a thing.

That's tough. I wouldn't renovate while tenants are living there. It is disruptive, and most people are working from home. You don't want them giving you a bad review for noise, etc., and jeopardize tenants in the future. Most time, they won't even allow you to look or stop by the property if there is a tenant when looking for a home. It's disrespectful.

Once the property is unoccupied, Look at comps to see similarities among other homes, so you don't overspend on renovations.

It happens to the best of us, but we all learn from our mistakes. You should be proud of taking action as this is something most people struggle with. Thank you for sharing!

@Andre Houston

Cash-out Re-Fi on your existing rentals and leverage the bank money. 

Make sure to know the market you are investing in and know your numbers.

Goodluck man!

@Adrienne Binder Great post and you are asking the right questions. 

You have received some great advice and you have a decision to make.

I will suggest you do market research first and get an ON-FIRE Investor-Agent on your side. That Investor-Agent will be able to connect you with other Rockstar Team members like Great Contractors, Lenders, Property Managers, Real Estate Attornies, CPAs, Home Inspectors, Honest Local Wholesalers, etc.

Doing this will reduce your stress level and put you on the right part from the beginning.

NOTE: Wholesaling Real Estate in an ACTIVE Job with a lot of marketing cost and it's a numbers game.

That been said, I will suggest you diversify your investment. Execute the below in other which makes you comfortable.

1. Buy 2-3 One to Four Units and rent on AirBnB or to a Long-Term Tenants depending on how much velocity you want from your money and how much you want to be involved. Regardless, get a Property Manager if you want it passive.

2. Research some honest Multi-Family Syndicators and be a Limited Partner (Passive) on their deal. You can invest as little as $50,000

3. Learn fast from the Syndicator and Buy a "value-add" 10-20 Units Multi-Family and Do AirBnB or Long-Term Rental.

4. Continue to learn and you can 1031 all or some of your properties to buy 50+ units in about 5-10 years and hire a dedicated Property Manager to manage the 50+ units based on your long term goal to live overseas.

These are what I can think of at this time, I will be happy to answer some of your concerns over the phone about the Houston, Texas market.

Let's connect and see how I can help.

I wish you Goodluck with the sale of your inherited property and in all your full-time endeavors.

If the lease does not state tenants are responsible for plumbing issues then you would have to take care of it.

Here are cheap methods to try first before calling someone:

1.Baking soda and vinegar

2.Drano

3.Drain snake

4.Dish detergent and boiling water

At the end of the day they did violated the lease. Have you had a chance to talk to the tenants?