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All Forum Posts by: Chris Bounds

Chris Bounds has started 84 posts and replied 468 times.

Post: Do You Always Inspect / Treat for Termites

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

Thanks @Russell Brazil, I never order a general inspection for distressed SF properties.  I'll order technical inspections for structural items (foundation, roof), but otherwise I know I'm buying something that needs a lot of work.

Post: Hello BP, starting new construction in Houston looking for advise

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

There are a lot of local REI meetings in the Houston area. Definitely check them out and find a few to attend regularly. That makes for great networking!

Post: Do You Always Inspect / Treat for Termites

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

Distressed house buyers, especially in southern regions like Houston - Do you always inspect and/or treat for termites when rehabbing a flip or rental property?

Obviously, if there are signs of termite damage it's a no-brainer.  I'm more wondering if it's done as a general rule since distressed properties have a higher chance of active termites due to neglect.  Or, if there are no signs do you chance it and wait until a problem comes up (buyers inspection, tenant complaints).

Post: New Member from Houston, TX

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

Welcome @Jacob Ayers. BP is the place to be to learn about REI! Also, check out some of the local REI meetings around town. There are plenty to choose from.

Post: Sugar Land TURNKEY Rental w/ Equity

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

Formatting messed up.  Here is the breakdown again:

Est. ARV: $210,000
Est. Rent: $1,700
Beds / Baths 3 / 2
Est. Repairs $0
Sqft 2390

Post: Sugar Land TURNKEY Rental w/ Equity

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

Landlord Special

16303 Ginger Run Way
Sugar Land, TX 77498

Asking: $185,000

Est. ARV: $210,000
Est. Rent: $1,700
Beds / Baths
3 / 2
Est. Repairs
$0
Sqft
2390
Description:
Absolutely TURNKEY! Cleaned and ready to rent on day 1. Located at the end of cul-de-sac. HVAC is new.

Repairs include:
Unless you want to replace the older stove, no repairs needed at all.

Click on the links below for more information:

Pictures
Sold Comps
Rent Comps

Serious buyers only. This will be an assignment deal. Seller is paying title policy. The property does not have a lockbox so please do due diligence prior to requesting a showing.

Call 713-493-2573 or CLICK HERE.

Post: 3/2 in Sugar Land - Cash Flow with Equity!

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

Landlord Special - Priced To Sell Fast!

Address: 2919 Lakefield Way, Sugar Land, TX 77479
Asking: $125,000
Est. ARV: $175,000
Est. Rent: $1,500
Beds / Baths 3 / 2
Est. Repairs $25,000
Sqft 1309

Description:
Property is in the beautiful Lakefield subdivision of Sugar Land. With low DOM it would make an excellent buy & hold rental property. Deals like this in Sugar Land are rare so don't miss out!

Repairs include:
Foundation and interior cosmetic rehab needed. Foundation engineer's pending and will be available to buyer. Estimated repair costs including foundation and full interior rehab $25k.

Click on the links below for more information:

Pictures & Video
Sold Comps
Rent Comps

Serious buyers only please. Non-refundable EM locks up the deal.

Post: Young and hungry

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

Welcome Xavier! You're in the right place to learn about REI. Also, be sure to plug into some of the many local REI meetings in the Houston area.

Post: Recommendations for Attorney representing lenders/landlords

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

Ethan, try Patten Law Firm. They represent Texas American Title co. I spoke with them at a recent REI event.

Post: Gas leak, gas co took meter, landlord being confrontational

Chris Bounds
Posted
  • Investor
  • Sugar Land, TX
  • Posts 491
  • Votes 200

This is one reason why landlords prefer an all electric rental.  Liability is lower and usually so is insurance costs.  Of course, the downside is paying for added electrical wiring and (for the tenant at least) the higher electricity bills.