All Forum Posts by: DG H.

I have two "blue collar" type properties for sale or lease to own. One is ready with new paint ect. The other is rough from a bad tenant. How do you all market and price this type of property? Do you offer much lower rent and cheaper down on the rough property? Anyone tried to owner finance this type and what was the out come?
The nice property has been redone after a tenant tore it to heck. I had screened well and still got the tenant from hell. I'm being extra careful with this property now but don't want to over price. Do you all run a higher price and if it doesn't work lower it...in how long?
Thanks for all the help.

Im selling a rehab flip in Texas. The buyer is going with a USDA loan. The appraiser will do the appraisial next week. I am selling my own property and don't have a REALTOR. I do work with one that will give comps to the appraiser.
]My question is this...can I ask them questions like ...do they think the house will appraise or how much did it appraise for? I really don't know the dynamics of what I can do or say. I've only dealt with with one appraiser before and he was....not nice at all. I didn't ask any questions of him and tried to answer his qrstions and show him what he asked for.
What is the magic answer....of course I NEED this property to appraise.

Thank you
Dee-Texas

I buy rebab and sell. I try to stage the property if I can. My latest property is much larger and many more windows than what I've had in the past. I usually put up mini blinds on new rehabs but this house is higher end than my usual.
What do you do for the windows to stage? Do you leave them without coverings, put blinds up or???
My money is getting really tight at the end. I want to give the house a push to sell quickly but don't want to put added money if I don't have to.
Thank you for your answers.
Dee-Texas

My local area is oil field related also small town (8,000). Lower wages makes up most of the town, so the rental pool are mainly those that don't want to buy because they will move on and the others don't have the credit to own.

There are very few rentals that house the upper middle class. Mostly blue collar housing here. Two years ago we started getting a larger Hispanic population...which has been growing. They were renting from everyone..... now I've noticed I don't get the calls like I use to and found that there is a group of Hispanic that buy and fix up homes and rent. The houses are lower end and cheaper AND they don't have rules on number in the property or do a credit check.

I'm afraid to lower the rent because.even a lower tenant pool will apply. We don't have Section 8 here and only one low income apartment complex. The city doesn't allow more than this.
I do know my area as far as rents and equal properties. I have a nice clean property in a blue collar area. Most have the rent but not the deposit.
Thanks to all for replies.

Thanks for the great replies.
This is a little more about my small town and reasons for my post.
Thank you John for answering.

My local area is oil field related also small town (8,000). Lower wages makes up most of the town, so the rental pool are mainly those that don't want to buy because they will move on and the others don't have the credit to own.
There are very few rentals that house the upper middle class. Mostly blue collar housing here.
The judge is good and fair..but from this type of tenants...they don't have anything and in Texas you can't garnish wages.
I don't want to lower the rent just because of the reason you provided..even a lower tenant pool will apply.
We don't have Section 8 here and only one low income apartment complex. The city doesn't allow more than this.
I will use the displaced policy holder idea. I think I will advertise online at a higher rent for temporary housing.
First I need to find out if that means I have to furnish everything for temporary rentals.
Anyone know?

In my small town rental pool...it's common for tenants to sign a year lease and leave before the lease is up. I've gone to court, etc and all story short it cost me a lot of money with no recourse on the past tenant.
I've got a small 4 bedroom home that is hard to rent only because it falls in the middle of price and size. I've had this home for 5 years and it use to rent easily ..even though we keep it remodeled and ready to rent it's getting and harder and harder to rent. Right now I think it's all about the deposit and the length of lease. I want a year...hopeing I can find someone that might stay a while. No tenant for a month now. The last tenant stayed 3 months on a year lease and moved out of town.
Everyone wants 3 months tops....I don't want someone to mess it up and then move out when it's harder to rent. On the other hand I can't find a qualified tenant that will stay longer.
Month to month? Year Lease? Lower the deposit? Lower the rent. Rent and deposit is lower than anything in town. $575.00 rent $500.00 deposit.
A side note. In my area there's been a big fire where people lost their homes. I'm getting calls from families that want to rent for 3 months ONLY.
Help me figure this out. I'm at a standstill..
Thanks to All.

Thanks for the great replies.
I do have everyone call 30min before I show. I learned the hard way on this rule....anytime I break my own rule I get stood up or the showing was a total waste of my time.
The landlord business isn't the best in my small Texas town. Way too many that don't qualify or if they do won't take care of the property. A term lease means nothing to them, they will sign a year lease and leave in 3 months with more damage than the deposit will ever cover.
Thanks Again to all for the great replies

Everyone that calls a out my rental. Tells me they've
walked around The house and want me to show it to them
now. How do you all handle that.

My question is...What questions do you ask the caller to
screen them before you show the property?
Also I'm getting a lot of Hispanic calls which I'm having a
HARD time understanding. When I ask their name they say it
so fast there's NO way I can understand much less write it
down. It's like they really don't want to give their name...
but so do many others.
Do you set up one showing at a time or multiple persons?
Thaks for answering.

Thanks again everyone and Chris thanks for the opposite view. Your view is the reason I haven't gotten my license yet. I'm sooo tired of regulations that really are just so much nonsense to an ethical person. I can assure you that the rules will cause me more aggravation than someone that is Unethical.
If there is a creative way to buy and sell real estate that is legal...I will persue that option and don't want another state, government entity in my business.
I'm still examining all my options, thanks to all.

You raised a lot of good questions. We would love to find an existing apartment to rehab and KEEP. Nothing in our area and I would suppose it wouldn't be a good idea to own and manage anything from further away than 50 miles.
Yes, we know how to build, develope, etc but have NO knowlege of multi-units. We have one duplex and the rest are single family houses.