All Forum Posts by: Kim Koster

I currently use the Texas Association of Realtors (TAR-2001) form, but I would also like to hear from someone that was bought the Bigger Pocket  forms. The TAR form states on the actual form that it is only to be used by members of TAR and is voidable by the tenant if a realtor is not involved  in the transaction (33.G). I wish there was a way they would let us preview the BP forms.

Looking at purchasing a home with Kitec plumbing. Home is 11 years old and the owner has never had an issue with it, but not sure I want to take a chance on a long term hold. $125 million payout in a class action lawsuit definitely says there is a problem with it! Anyone have experience with this product? It seems like the biggest issue is with the connections, but there may be issues with the pipe itself. Would you require the owner to replace connections, entire system, or am I being obsessive-compulsive?

Agree with Seth Teel, OneGuard is the best option out there. I have used them on several rental properties. They have done major repairs with no push back. Completely different experience than with the other players.

In a triple net lease, they pay everything including property taxes, building insurance, and the cost of any maintenance or repairs the building may require. I would be concerned I f they are not having the hoods cleaned routinely and are using equipment that produces grease (i.e. fryers). This is a significant fire risk. On restaurants that I am familiar with, these are cleaned quarterly.

A little off topic, but are you planning to have the insurance repairs done before or after closing? If after, be sure their insurance company is going to be willing to pay out on the claim if the insured is no longer the owner. I had to delay a closing earlier this year as the insurance company would only pay if the house has still in the insured's name.

If you can qualify for membership, Security Service Federal Credit Union has some great rates right now and they are paying all closing costs.

I will do my best to make it by on the 8th. Look forward to seeing the progress.

The Med Center area is actually where I have been focusing, but it seems like prices are high enough there to make it difficult to make the numbers work well unless I do a rehab.

I was just up to Abilene recently and was blown away by how many single family homes Abilene Christian University owns around the university and the amounts that they charge students for these. While there are no SFH's as close to campus at UTSA as they are at ACU, is there a market in San Antonio for student housing in SFH's or is the market too saturated with apartments and the distance from campus too great?

If the property is in San Antonio, there are some local people that will do a basic inspection for minimal cost. There are some people that will attempt to sell you a SFR in a terrible neighborhood that is basically falling down. I know nothing positive or negative about this individual selling this property, but I would encourage to do your due diligence.