All Forum Posts by: Lisa Edwards

Google FSBO "your city" duplex

Google MLS "your city" duplex

Jarred, Go to this site and click on Find a Certificate...type in address and it will tell you if the roof was engineered, or not. Without this certification it is not impossible but much more difficult to insure the roof. Our coastal Texas Windstorm is a PIA.

https://appscenter.tdi.texas.gov/windstorm/p/home

Are you putting it under contract with an option period? You need a home inspection, pest inspection and hydrostatic plumbing test. When was the roof done? You will need WPI insurance in addition to your regular home insurance. If it doesn't currently have WPI, your insurance will want to do an inspection. Especially since you're financing...you will need inspections.

Lease option, while not illegal in Texas, is very tricky to do. It can end up coming back to bite you, big time.  I wouldn't go there.

Kassie,

Here's my 2c for what its worth.... you're trying to sell the house for retail and it needs expensive work. Your realtor is giving you some really bad advise. And the "investors" are clueless. 

First, and most important, your house is at risk with a plumbing leak and termites.

You need a plumbing isolation test to see where the leak is and then and only then can you determine the price on a reroute.

Termite treatment can be a spot treatment or tenting the entire home. The first maybe $1000 the later a bit more. 

There is an engineering company in town that will come out and inspect the roof and certify it,,,if it is up to code. Not very expensive at all. The point being the new homeowner cannot get windstorm insurance with certification on the roof. Do you presently have windstorm insurance on the home? Did you put new windows in the house? Do they have windstorm also?

You need a new realtor and some better advise.

You can do the plumbing roof and termite work and then list the house for retail price or sell the house "as-is" but at a discounted price. 

Consider re-fi to lower your interest rate. Can you show a steady rental income? The house should rent from $900-1200 and if that's covers the mortgage you're good.

Consider owner finance and you can possibility get 15-20K down payment and have the new owner cover your mortgage.

Kassie, give me a call if you want to discuss your options, I'd be glad to help.

Hi Fernando, Lisa Edwards here. My partner, Colin O'Brien and I live and invest in the Corpus Christi area. We invest in a variety of ways...wholesale, flips, subjct-to's, owner finance, Single and multi-family. We're always looking for deals and capital. Shoot me an email. 

@ Mike Reynolds...

Texas is like Forest Gump's box of chocolates when it comes to building inspection.  Isn't that the truth!!

Does anyone have any experiences with tax guru out of Houston Taxes....Michael Plaks?

Hey Kent, we should get together and talk. I can help you out. I am a full time investor and realtor. Don't let anyone tell you that you can't do both..and ethically. I can introduce you to my broker who works with investor/realtors and has some great options.

Still waiting on the bank to get back with me. We'll see