All Forum Posts by: Jim Cummings

@Paul Kubin. I'm guessing you are easy to deal with / man of your word type of person, but you will appreciate the more detailed lease the first time you get challenged on something from a legalistic tenant or their attorney.

@Nancy Ramirez. Check with your Broker as well. Some Brokers will not allow you to wholesale property as a member of their Brokerage as it may open them to large liability.

@Chris Kimsey. Don't think you'll find any Texas Lenders that will do a HELOC on Investment Property as I think the Texas lending regulations prohibit them from doing so.

Hopefully, a Texas Lender will chime in on this one. 

How does a Landlord file these type of judgements with the Credit Bureaus?

Saw a blub on news today about a woman in Colorado that raised over $220K within 2 days on GFM about not having money to pay rent after losing her job to covid.

I certainly wasn't aware you could raise that kind of money that quicky. Must have been really well written story.

@Curt Smith. Thanks for posting this info. I added to my BP Notes for future use.

@Melissa Villegas. 

1. Assuming you personally never plan to move into this property.

2. Plan only to use as rental. 

3. Other surrounding properties DO NOT have pools.

I would suggest you fill in the pool, as there is a great potential for liability for you if someone has an accident in the pool. 

@Warren Z.. As you stated you never claimed Homestead Exemption on the property, the mistake in on the Appraisal District / Tax Agencies to eat crow. 

Don't think you actually need a Tax Assessment Attorney. Hopefully, a strong worded letter from an Attorney pointing out their mistakes would do the job. 

There is the old story about a driver who locked his keys in the vehicle and had to call a Locksmith to open the door to the vehicle. The locksmith arrived and within 5 minutes had the car door open and retrieved the keys. 

The locksmith says that will be $75. 

The car owner EXPLODES $75 F****ing Dollars  - it only took you 5 minutes to open the door. 

Whereupon the locksmith throws the keys back in the car, pops down the lock and says - Now you can get them out!   

We've all seen stories of people (even some city leaders) who were able to pay rent, but didn't In many cases because of the inability to evict during the Moratorium. In other situations, tenants got the Covid Money and spent it on something else. 

In My Opinion, this program would have had a much more stable base if the money was targeted (PAID) to Landlords of folks who were behind on rent. 

There were numerous avenues for graft, corruption, and misdeeds in this government goat rope, and you can bet it happened!