All Forum Posts by: Ian R.

Jeff Chapz You should consider Brad Larsen and his company. He's one of the top PMs in San Antonio and he's very active here on the site. I'm sure he'd be happy to answer any questions you may have. Best of luck

@Aaron Crow

As mentioned, narrowing your search by Days on Market helps. I recommend 60+ days.  Also, use keywords like "As-Is", "Bank Owned", "Foreclosure", "Estate Sale", "Investor".

@Kent Harris

Unfortunately, I have to say I agree with @Matt Geerts. No offense, but it seems to me that you're just as much at fault for this situation. Ultimately, you and your agent weren't on the same page and you agreed to accept tenants that you hadn't fully vetted. I would take it as a lesson learned and move on with your life. In the grand scheme of things, $8K is probably not going to break you. It'll probably cost you at least that much, if not more, to pursue this issue. Fix your systems or hire a good professional PM and move on to the next deal.

Best of luck!

@Michael Moikeha

If you're looking for a very experienced agent that specializes in investment real estate, I highly recommend @Tim Macy.

Trinh Huynh I don't think you need a specific foundation inspection per se but I would definitely recommend a standard home inspection. With new construction, I always recommend getting 2 inspections done. I recommend one inspection when the framing and wiring is done but before the drywall is installed (once the drywall goes up, there's no way to double-check the quality of the work that was done on the framing, joists, electrical, etc.) I recommend a second and final inspection once construction is complete but before closing. Even though you'll probably get a 1-2 year warranty from the builder, you have MUCH more leverage to get things fixed if you catch them prior to closing. Builders can and do make mistakes, especially since they're mostly relying on a team of various subcontractors to actually build the homes. If you need recommendations for good, thorough inspectors, feel free to PM me. Best of luck and congrats on the new home!

Kiki Helland I highly recommend Tim Macy . He's a very active agent that specializes in working with investors. Feel free to PM me if you'd like his direct number.

@Rob Barry

$7K commission on a $74K property is very high and definitely not normal.  Typical commission for a buyer's agent is 3% of sales price and paid by the seller, not the buyer. In this case, the buyer's agent probably grossed your $7K "finder's fee" plus an additional $2K+ from the seller. So a very lucrative transaction for him/her. But if the deal still cashflows well for you, just chalk it up to a learning experience. Congrats on your first deal.

Best of luck!

@Justin Fox

Unfortunately, according to the law, you can't ask for documented proof that the animal has been trained.  This is most likely because they're not required to be trained by a professional and owners with disabilities are permitted to train their own animals.

The law states that housing providers can only ask the following:

"Housing providers may ask individuals who have disabilities that are not readily apparent or known to the provider to submit reliable documentation of a disability and their disability-related need for a service animal....Housing provider may ask [applicant] to provide documentation from a physician, psychiatrist, social worker, or other mental health professional that the animal provides support that alleviates one or more symptoms or effects of the identified disability".

You can read more here:

https://portal.hud.gov/hudportal/documents/huddoc?id=servanimals_ntcfheo2013-01.pdf

This a topic that has been discussed extensively here on BP. My best advice would be that if you suspect someone is abusing the law to get a pet into a "no pet" unit or to avoid paying a pet deposit, asking the above question should weed them out.  If not, try to find some other legally-based way to disqualify them (credit history, bad reference, etc). Just be sure to document why you disqualified to CYA (cover your *ss). Whatever you do, don't discriminate against someone who has an obvious disability (blind, in a wheelchair, etc.)  

@Huiping S.

Here's the Florida statute that applies to service dogs:

http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0400-0499/0413/Sections/0413.08.html

It defines a service dog as:

Service animal” means an animal that is trained to do work or perform tasks for an individual with a disability, including a physical, sensory, psychiatric, intellectual, or other mental disability.

The statute also states:

The crime-deterrent effect of an animal’s presence and the provision of emotional support, well-being, comfort, or companionship do not constitute work or tasks for purposes of this definition.

@Huiping S.

I recommend that you find out whether the dog is truly a Service Animal or on Emotional Support Animal.  Many people confuse the two and there are huge differences with how the law treats each category.  Service dogs are trained and certified to aid owners who have a disability and are protected by the ADA.  ESAs are non-trained animals that are simply comfort/emotional therapy animals.  ESAs are not protected by the ADA.  Many owners of ESAs believe or will try to convince business or property owners that their animals enjoy the same protections as Service Animals (i.e. can't be denied access to restaurants, can't be denied access to "no pets" housing).  This simply is not the case.

See below for additional details:

https://www.ada.gov/regs2010/service_animal_qa.html

Best of luck