All Forum Posts by: Gustavo Delgado

no need for agents. I think a title companies lawyer can get you both squared away. 

I would look to find out how much it would cost to remedy this issue and make your offer based on that. If you get pushback from the seller, which you will, make sure you communicate that this issue will come up again with any other potential buyer

This is a business. Instead of "proposing" a rent increase, better to give them notice of the rent increase with ample amount of time 60 days. You don't need to give reason for the increase but if they must know point them to the current market rents and let them know it is still under market value. As far as a dog, just decline and let them know your insurance policy will not allow it. Once they realize that you are still under market value and they do their own search they will very likely just sign the new lease.

10501 South Dr #300 Houston TX 77099

Great Job Juan

This is exactly what I want to do and get involved in. I look forward to your progress!

I've own shares of Realty Income, ticker O, for years and always add to it with the accumulation of dividends payments. You won't get crazy appreciation but it is not as volatile as the market can be. 

if tenants are going to break your lease it does not matter wether its a 12 month or more. I would still opt for a 12 month lease so you can modify your rent as needed when taxes/insurance policies are due. If I would go higher then I would put some sort of rent escalation that can cover future holding cost but still incentives the tenant that it would be cheaper than resigning a new lease in a year.

This is what sucks about PM. I feel they have their list of contractors, and since its not their money they just send out one person and don't take the moment to get at least 3 bids if the works quoted is over a certain $$ amount. I would insist that my PM get quotes and not just call the first number they find and just pass along the info to you.

having invested and in condominiums before and having had similar situation happen, I feel your frustration. Most often homeowners don't attend or are not up to date with the HOA's business. I don't know how active your where with your HOA, like attending the meetings, but the community should have been informed about the insurance way before the change took effect. Many condo communities are being labeled non warrantable because they either don't have the insurance requirements, not enough in reserves, or lack of improvements to structures.

definitely pre screen by letting them know upfront what the landlord requirements are (income, rental history,ect..) if you get that out before showing you may weed out people right of the bat and save your energy for more qualified prospects.