All Forum Posts by: Grace Jordan

Hi Everyone,

Hope you're having a great day.  Considering a couple small multi units to use as rentals in Lubbock TX’s Bayless Atkins neighborhood.  Would anyone with knowledge of the area please share what you know about the area? All opinions are helpful. 

Would also like recommendations on a management company.

Thanks

Grace 

@  Stephen Gantz,

You also need to find out if there are any HOA fees? if so how much? What does it cover? Are there separate meters? And definitely walk the property. I'm also looking in Houston and recently expanded outside of Houston. I had a few seller financed opportunities from the same seller recently. The properties were in pretty bad shape compared to the photos, and there was 8 feet of water damage from the recent floods. The flood damage is definitely not a good sign going in. Just think repeated flooding. I know it's a coastal area, but that was not a good investment going in.

With all of the unknowns you've listed it's a bit of a challenge for you to analyze.  You need to see the financials and sellers disclosure.

Best of luck to you and your wife.

Grace

Welcome Clayton,

You're in the right place.  All the best to you.

Grace

Congrats @Shawn Ackerman. N.Y. is a tough crowd, but you rocked it anyway.  Keep up the good work.

Grace

Excited for you Heather! Welcome to BP.  Pretty cool place to be with like minded people who will keep you motivated.

Grace

Welcome Damiano.  This is a great place to get started.  Be sure to check out the Ultimate Beginner's Guide, Attend the live webinars every Wednesday, and listen to the podcasts! Best and invaluable Real Estate Course.  Great Wisdom from every single one.

Best,

Grace 

@Julie Marquez Yes, you will still get your requirements in the lease agreements. :-)

@Julie Marquez  Agreed!  You can still get everything you require in the lease! :-)

Congrats @Chris Jackson.  You're definitely moving on.

I agree with most of the other responses.  There are too many "conditions".  Tenants know they pay 1 month's rent plus security deposit. The list of charges is too long. I think some of the other requirements would make anyone feel like they're paying a lot of money to be"fenced in".  I would definitely schedule an open house and have prospective tenants view the home at the same time. I understand you want to protect your home, but the ad needs to be more concise and direct.

If it's important to them to find a home they will show up.  Just create a sense of urgency.  What happens when a store has the "last" item and everyone suddenly has to have it? :-)