All Forum Posts by: Gustavo Delgado

The thing I have a question is, is that you are taking the previous owners word about it being freshly painted. Do you have pictures of the work prior to the tenant move in? What about the move in condition form? If you don't then it becomes your word against theirs. Now these tenants where already in place, as I understand it so I don't see how you can add any language to the lease now. Maybe on future tenants but you would need to give them a freshly painted unit. Also, you need to exprect normal wear and tear and after one year you may just need to do simple touch ups and not need to repaint the house

You will need to approve a leaseback. Literally get a rental agreement and demand a big deposit and treat it like a lease. Make sure they have serious $$ on the table in the event they hold over causing you headaches because you can't move in. Have your agent help you with this. 

But I would even NOT approve it and suggest they pack BEFORE the closing date, maybe as soon as you get your clear to close and the settlement statement have gone out, usually  3 days before closing.

Normally to change bylaws, there should have been a notice to the community and the item put up for a vote with a certain % voting for it to be amended. That's how I understand bylaws can be changed. Now STR are not very popular with the neighbors so they maybe did get the % of votes needed. If you want to take it up even further, maybe consult with an attorney and sue your HOA.

Hi. No benefit when applying for a loan. They are gonna ask you for the same documentation as anyone else (tax returns, current employment, credit check, ect..)

As for buying, I will so no as well. If you are going the traditional route as in buying a listed home on the MLS I don't think you will get a 'discount' on price in lieu of commission. Why? well that listing agent has a listing agreement and assuming the commission is 6% (3 or each side) I don't see them discounting. One, if you are going to let the listing agent work with you they are going to keep the whole 6% themselves. If you are going to use your license and represent yourself, your broker is going to want their 'cut'.

In my opinion, if you are just going to get licensed have an agent at your new brokerage represent you and maybe that agent will guide you on your first transaction and learn the ropes. 

send me a PM to discuss. I may be able to help. Im in houston as well 

These current tenant sound like a pain. You sure you want to take them on? I would make the offer to seller but the current lease needs to end. Either wait it out or hopefully they are on month to month

I don't quite follow. Why exactly can't you seller finance a home to a buyer that you own free and clear? 

Ñañita, there is no "list". If you want to get into wholesale you can do a few things. 

1. Drive for dollars. Pick an area an look for 'run down, abandoned homes, distress homes and look to speak with the owner.

2. buy a seller list and cold call away. Be prepared to get cussed out, hung up on and everything under the book but hopefully you will find that ONE person that wants to learn more.

So you found a willing seller. Now what? you gotta know what $$ will work for and investor to take your contract, you make a bit and the seller be willing to sell. Then complete a contract for sale with the seller and have your subject to contract ready to go.

I believe it is doable, but you really gotta invest the time, energy, and $$.

Maybe, go to a local meetup and get to know who the wholesalers are and see how you can be of help to them and learn the ropes that way.

Suerte!

I replaced with carpet a few years ago. It has held up pretty good so far but once my current tenant leaves (hopefully in like 10 years) I will likely put luxury vinyl all over. 

don't pay it off and keep the low rate as long as your property is paying itself. if you don't know what to do with that extra money put it in a high yielding CD