All Forum Posts by: Jignesh Savaliya

Hello Everyone,

Based on the current market situation should I buy a single-family house with cash and refinance later?
or buy a small multi-family(Duplex) with a downpayment and take a loan?

My goal is to buy & hold right now. let me know your suggestion.

Tenet's current 1 year lease will complete in Aug 2021, tenant want to stay for 4 more years with reason of child school. so far tenet behavior is good in terms of Paying rent on time, Keeping property clean, Sometimes fixing things by them self and not disturbing other tenet.

Should I sign 4 years lease with rent increase ?
or sign 24 months lease with rent increase ?
or just stick to the yearly lease formate ?

Note: Property location is in North Austin TX area.

@Michael A. I am very thankful that you have shared your past experience and that exact situation I want to avoid.
I have never heard about insurance vacancy clause, will definitely check with my insurance company 
Thank you again

@Jermell Shavers Thanks, Nop this is not a sec 8 property

I have updated my listing with all criteria that I am looking for. For this applicant, I have verbally explained to them.  
Thank you for your inputs  @Rhondalette W. 
Great advice @Kyle J.

I asked this question because the last eviction date is May 27, 2015, which is 5 years from now, and honestly this is my first application with eviction. So I wanted to validate my understanding and see what other landlords are thinking on the same 

Thanks for your input @Mike McCarthy and @Ethan Jacobsen
I will not accept this applicant

Hello Everyone,

I own duplex property in the Austin Tx area. yesterday I have received my first application with a low score. Property has been listed for 15 days. few highlights

person 1: score 402
Accounts Ever Late: 3
Time Since Late: A month
Collections Accounts: 10
Civil Search: consider
EVICTION RECORD: file date - Aug 8, 2014
EVICTION RECORD: file date - May 27, 2015

person 2: score 551
Accounts Ever Late: 1
Time Since Late: All clear
Collections Accounts: 5

On the other side, they both combined making income 3 times the rent amount. Should I consider this application or just wait for the next one. Listing Link

Thanks,
Jignesh

Hello All,

On the last day of 2017, I have closed on my first property. It is a duplex in the Austin TX area.

I am planning to do House hack, before that I need to do following rehab.

- Replacement of Roof 

- Replacement of AC unit on one side 

I have zero experience of rehab and Please let me know if you have any recommendations.

Any advice would be helpful to me

Thank you so much for your answer 

@Jim Goebel

This house has a pier and beam foundation build in 1984. So the entire house is approx 4 feet above the ground.

Yes, HVAC system located in a crawlspace. It has duck access from the bedroom closet 

Hope this is the answer of your questions.

-Jignesh Savaliya

Hello All,

I'm new to Real Estate Investing. My immediate goal is to buy a duplex for Househack.

I came across this duplex which has the major foundation issues with underfloor HVAC system in the property.

Foundation issues like

- Multiple creaks on two bedroom drywall on each units

- little Slop in a drawing room

- Big creaks on the driveway

Questions

Should I consider this property for my first investment or skip it?

Approximately how much it can cost me to fix those foundation issues?

- Jignesh Savaliya