All Forum Posts by: Courtney King

@Kevin Powell I'd also strongly consider the fact that the comps are far and few between as a yellow flag to proceed with caution. With the properties that I buy/hold and flip, having strong comps is pretty important to me so I don't get caught up on the back end when it comes to resale.

@Kevin Powell I usually use the plus minus 10 "rule" as well. 

@Lallu Tappu Hmmm In my experience the City of Richardson isn't too bad on this stuff so this kind of surprises me. They usually send you a notice and give you time. What I would do, would be to reach out to the inspector that issued the first notice. Explain what is taking place and see what options they will give you. Make sure you recap everything that you discuss with them via email and then make sure you follow up with them diligently with updates and pics. Usually if you can show that everything has been removed they will dismiss it but make sure you document everything via email. If you need a good contact over there let me know as I've deal with a few code compliance inspectors over there on some of the rentals that I have. Make sure you approach it very humbly and apologetically and they will likely extend some grace. Good luck!

@Megan King I'm going to private message you a link to a company that I have worked with A LOT over the years. They do relocation for homeowners displaced by fire, flood, etc. They are super easy to work with and I get calls from them all the time asking me if I have any short term rentals. 

Also, make sure you look at the Dallas Rental Registration Program requirements to see if they have any requirements for short term rentals; I have a feeling they do but it's a pretty easy process. They just want their $43 registration fee. I will send you the link for that too!

Sorry didn't realize the thread was so old! But still good info!

@Daviyon Lockett Without having much more information, here in Texas there is an option period. Meaning you go under contract on a home and during the option period you get an inspection and/or bring in contractors. This is a period that allows you to use the info from the contractor/inspection to further negotiate with the seller. If you can't come to agreement with sellers then you can usually get the earnest money back. Not sure if that's how it works in GA. I hope this helps. It may be good to reach out to an agent where you are. If you're buying it from a wholesaler there may not be such a period; you usually have to do your due diligence BEFORE you go under contract.

@Shawn Ab I'm a broker and own a property management company. Will message you my direct contact and info if you want to chat or link up. 

@Will Herrera I did this one time  here in Dallas. I drafted the lease on a Texas Association of Realtors promulgated form. The lease is a standard lease for a single family home but I required that the owner for the company and the company be named as lessees. I also required that the owner complete a rental application and pulled his personal credit and verified that he alone qualified to rent the home. I put the employees as occupants of the property. We also required renters insurance as well and the company provided that declaration. I hope this helps. It's no different than a lease by a regular individual, only I would name the company owner individually as well as the company. I'm not an attorney so you may also want to check with your attorney. 

@Shelia Moore If I understand correctly, you have a contract between you and the seller of a property. Now you're assigning the contract to a buyer or possibly doing a simultaneous close? Is that correct?

Usually the wholesaler will provide the buyer with the assignment contract or new contract between you and the buyer (it depends on how you set it up). I'm a Broker that has purchased from a wholesaler. I'm not an attorney so maybe do some research to find the paperwork that works best for your situation.