All Forum Posts by: Arjun P.

I'm considering purchasing a residential lot in the DFW area to build a house. I've noticed there are many homes for sale from large construction companies in North Fortworth, but not as many in the  areas like Euless, Hurst, and Bedford. Do you think it's worthwhile to buy a lot and build a house to potentially sell for profit? If so, could someone explain how construction loans work and share their experiences? Thanks!

Hey Guys, I finally found a property for 350k ( two units , 4 beds 2.4 bath, build 2011) decent conditions in Saginaw. They accepted my offer. I may be breakeven or short for $200-$300 because of Crazy interest rates. I am trying to see if I can write off some of these expenses and make my losses break even from my personal income. Thanks for all your suggestions. 

I am planning to move to Texas this spring from MN and I have been looking a rental properties  single family/duplex in DFW area that gives some cash flow. I couldn't find anything available that gives some cash flow especially paying after that high property tax. Is there small investors who has good experience investing in rental properties in DFW area ?

Regards

Arjun

Hi There, I am new in real estate investment. I have a tenant who hasn't paid rent for 3 months, however she has given me last month rent and damage deposit (1 month rent). She had a month to month lease and still hasn't paid any rent so far. I gave her a notice for a week 2 weeks ago  but she hasn't moved yet. Now I now I am not renewing the lease for month of July so that would get cancelled in 30 days. what should I do if she doesn't move then ? How I can evict her before the end of July.  I don't know how to deal with all the legal thing. Please advise. 

@Ryan Lin that’s correct but lawyer are so expensive. What if it cost me 5k to hire a lawyer to win the case that has worth of 2.5k so I am thinking to represent myself.

I recently purchased a rental property under LLC and seems like I need to go to court to file a case against previous owner. He did hide some major issues and didn't disclose as per rule of Truth in sale of housing. Now I am planning to go to small claim court to file a claim. Since my property is under LLC, Can I represent myself or should I hire a lawyer just to represent the case ?

@Steven Clark Try using “Zoho expense” mobile application. I think the free version may satisfy your requirements.

I recently purchased a duplex for rental purpose and agreed with seller to escrow one of the tenant damage deposit with title company. Tenant moved out after 15 days after I purchased home and she left house in terrible conditions. The tenant was evicted by the previous owner and her deposit was used to pay the last month of the rent. It looks like she didn't care about getting her damage deposit money back so she left bunch of trash in the house including her personal items, furniture etc. Kitchen and floor was filthy. I ended up hiring cleaning contractors and looking to hire handy man to fix few things, that will cost more than damage deposits ($1100) before to make this house ready for new tenants.

After I told everything to seller he is not gonna sign the paper to release escrowed amount to me. How should I move forward ?

Edited:

I actually got my 15 days rents and had $1100 for damage deposits escrowed with title company that was deposited by seller and we all agreed to release if the tenant moved out with satisfied conditions but she didn't.

Jon, we are working with US bank and lender doesn't allow us to put LLC name under the title. Is there any other ways to do it if we can't do it during the closing ?

Hey guys I am new to rental investment. A friend of mine and I are working to purchase rental property in MN. Can we transfer title after we purchase the property? If yes, can someone shares your experience and how much do you think would it cost ?