All Forum Posts by: Stephen Masek

Don't forget the asbestos & lead inspections, so you don't buy into fines, lawsuits, or unexpected expenses.

We just had Cornerstone inspect two houses, and got a discount for two. Their reports appear to be comprehensive, and they found many things. We backed out of one deal, as there is settlement of brick and numerous other flaws. Their phone number is 317-815-9497. They also do termite inspections, so can do both at once.

When was it built? In most every state, mold is not regulated. Asbestos & lead are highly regulated everywhere. You need to find a good consultant in your area to inspect it and give you proper advice.

We bought two houses in Austin in May, one in Bastrop and one in Georgetown. Both were built in the 2000s and are in nice neighborhoods. You have to look out for high property taxes in some parts of Austin.

Trulia and Zillow have crime and school information, as do many other web sites. I lived the first 29 years of my life in St. Louis. Real estate seems expensive there.

Justin, what repairs are needed? Do you have a good home inspection report?

Will the lenders have a mortgage or will it be a personal loan? Personal loans are not enforceable without a recorded UCC-1: http://wiki.answers.com/Q/What_is_a_UCC-1_agreement

Darren, I understand what you are saying, but my wife and I have done, and are doing well owning houses in multiple states. We are in California and currently have them in California, Nevada, Texas, Tennessee, Georgia, and Florida, with purchases in Tennessee and Indiana now underway. The key is having good managers, and managing those managers. They should provide periodic inspections and reports with photos.

If you do not even have $5,000, you need to save and build up reserves before buying anything. Work two jobs, live in the least expensive place which is safe, and so forth, and you will soon be able to invest with confidence that you can handle the unexpected.

Ali, That would be nice. If they can't do it, they may know somebody who does. By the way, I'm in or near Venice frequently, and all over southern California for business.

Do you know a good property manager for Lawrenceville well enough to recommend them? We need a good property manager for our house in Lawrenceville, GA. The current one keeps hitting us with a few hundred here, a few hundred there for repairs, but will not provide copies of the invoices. They charge 50% of a month's rent to lease, better than the 100% of all of the others we found, and both those rates are way higher than we pay in most other parts of the USA.