All Forum Posts by: Gustavo Delgado

Purchase the home with the condition that the tenants have vacated. You are about to take over someone else's problems. 

If this roof leak started suddenly during a storm and damaged the ceiling spontaneously you may not have much to go on. HOA can't foresee your roof issue until you report it.

If there was a roof leak and you reported it to the Hoa in timely manner, but they did not address it, which in turn kept leaking with subsequent rains causing damage, then I believe  you may have a claim.

The roof has been repaired so get a quote to repair the ceiling. Should not be more than a few hundred bucks. You looking for an attorney to sue yourself ( suing the hoa is suing yourself since you are a member of the community) may not be worth your time and you may be responsible if mold does grow while you have a tenant and then they complain of health issues since you have not addressed the problem.

Don't waste time and keep looking. 

Find a realtor. Look for one that has other listings and experience in the area. If you are not familiar with lease applications/procedure/ and contracts, use a realtor to make sure you don't leave anything  out that can come back and burn you.

Do it yourself. Use an agent to help you get qualified tenants and documentation in order. After that make sure you have your property up to standard before placing a tenant. You can definitely do it yourself and learn faster that way.

with your criteria, why not just be an accredited  investor and get into some type of syndications?

Here in Texas we have deregulated power, so there are a bunch of electric provider (reliant, amigo energy, triangle,ect..) Usually I use trieagle and request a month to month plan and have the power on a day or two after the tenant vacates. Once leased, I call them and have power cancelled. If you have good credit they don't ask for a deposit so it very easy.

Tough break Pamela. But like others said, I would secure the home asap, survey the home and put it back on the market or make ready to sell like you may consider. If the security deposit is not going to cover the the water bill or damages, try to scare him into covering the balance by hinting at sending him to collections and it will appear on any future credit pulls he may have done.

 Wow! its been a few days and this post has gotten a lot of feedback. Just for context, I posted this question, which it appears it provoked and rubbed the wrong way to quite a few of you, just to hear others perspective and thoughts. I was not looking to convince anyone into other avenues of investing or to piss on real estate as I do hold a few properties that have appreciated, cash flow and I have benefited with real estate. I appreciate everyone's feedback. 

What! Hell nah! I am going to assume you do not live in the property area to where you can go and do it your self!