All Forum Posts by: Kim H.

Ahhh

@Jon Klaus thanks! How did you move it?

@Jon Klaus my fingers just aren't working properly this early in the morning. I meant to tag you in the above post....

Thanks @Jon, that was a quick reply. I was actually going to re-post in rental and landlord section, which is where I thought I posted to begin with.... I think my phone glitched or something because I double checked before I sent.

Oh well, I agree that it would be nice if my son would pitch in as a property manager, however, he's a pretty shy, very quiet, keep to himself type, so maybe more of a "report back to the owner" type of job. LOL!

I did end up renting him a room with an owner-occupant-student because I liked his rules concerning no alcohol, no drugs, no noise, no overnight guests, males only, etc. He seemed pretty intent on keeping a quiet, study-indusive environment. The rent was $575 per month, all bills paid and furnished room. I was paying $651 per month in the residence hall for a room without a kitchen and a horrible roommate. So, this was a deal for me.

I did talk with several owners who were not occupying their properties and they had some of the same rules, but I wonder if they are able to verify that tenants are not breaking them. In addition, I wonder how often they have to deal with vacancies. The tenant that is moving out of the room my son is renting is moving out this weekend, which seems an odd time for student housing, but obviously, we were right there to fill the vacancy.

I am thinking I might sell my $1700 per month rental house in Flower Mound and try my luck near UTD or UNT.

I have been looking for my son a new place to live near UTD this past week and have been surprised by the number of houses renting single bedrooms for students. Has anyone ever purchased investment properties for this purpose? What is your experience? It seems like a great way to make the 2% rule in the DFW area, but are the non monetary risks worth it?

I am close to starting rehab on my first multifamily complex (9units) and have been looking at hiring a general contractor to handle the entire process. However, I am wondering if I would be better off hiring the subcontractors on my own because I can shop for quotes and I won't be paying for the GC's time. What is your experience?

@Colleen F. we use a property management company for our rentals. We have an agreement that if a repair doesn't exceed $250 then the company doesn't call us first, they just send out the repairman. If it's over $250, they call to get authorization prior to sending out a repairman. We get a property report at the end of each month with a detail of expenses and copies of invoices for repairs and parts. In addition, we keep $500 in reserves at all times for repairs.

What are the potential pitfalls with a setback violation on an existing structure (with a documented setback exemption from the city) ? The current zoning and intended zoning are multi family and I don't see any reason to change it in the future.

not sure what happened to the last sentence...would you PM me with their contact information

@David Turner Now that it has been a few months since your purchase, can you recommend your property management company for their construction services? Did they do a good job? Any issues? If you like them, whims yk