All Forum Posts by: Larry Watson

Property looks great but not knowing the area I would say the #1 suspect is price. I know its not the answer you want to hear but its the truth in most cases.

Went to look at a foreclosure yesterday and thought this picture is worth a thousand words when it comes to slab houses and plumbing. I hope it never comes to this. LMAO

I love basements and you will too if you ever have plumbing, HVAC or electrical issues. Slabs are not forgiving a lot of times especially for plumbing. I tell everyone that I never guarantee it not to leak.

I agree, Google Voice is great but I use Vonage for only $15 a month and is a little more reliable.

If you can rent a home for 1% of the purchase price including any improvements you have to make you can never go wrong.

If you can rent a home for 1% of the purchase price plus any improvements you have to make you can never go wrong.

Never ever rent or lease to anyone that has had a court eviction. If you follow this rule in the long run you will be more successful. I have felt many times that it seems like you will never find that right tenant but believe me they will come. Its much better to turn down 10 good prospects than accept one bad one. Taking pride in your properties like I do is being picky about who you let someone use your properties.

I added it to my lease as a requirement a short while ago. This is the only way I will lease to anyone. It is the best way. No more "checks in the mail". It keeps everyone honest and automatically adds the late fee and dont allow anyone to pay partial payments either. Another aspect is the online rent collection company becomes the bad guy not you. Lay down the law to your current tenants and make them use it.

I am a buy and hold but if you ever need any advice on repairs I could always give you my recommendation and know a lot of people that's do home repairs in just about every area. 

I wanted to reach out and see if their are any real estate investors in my area which is the Greensboro, High Point and Winston-Salem area. I recently sold my office equipment business and now investing full time and would welcome to get together with someone to share local ideas and deals.