All Forum Posts by: Greg H.
Greg H. has started 51 posts and replied 4177 times.
Post: Selling: Rent to Own vs Owner Finance in Texas
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Rent to own is legal in Texas. However the requirements of the seller/owner are onerous and the penalties for non compliance can be severe. Additionally, if the buyer fails to pay, the seller's remedy for non payment can be having to foreclose or a timeline equal to foreclosure so there is really no benefit. Here are some of the guidelines
https://texaslawhelp.org/article/executory-contracts-and-lea...
Post: Property Management in Lubbock, TX
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Those numbers which be much higher in most markets to include 100% of the first months rent as a leasing fee. There is a lot of work as well as marketing costs involved in finding new tenants. As far as the work you can do, if you decide to utilize a PM let them do the work from start to finish
Post: Market Research: High-Growth Counties for Remote Wholesaling
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Not sure where you got the information. All of your zip codes are not even close to being accurate
Post: Can Noobs Insulate?
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Jeffrey Huddleston:
I bought a house, and it needs attic insulation installed. The attic is currently bare with no previous insulation. Is installing insulation a fairly straightforward job an unexperienced person can do themselves? A contractor estimated over 4k to install insulation, and I feel I could probably do it myself. I wanted to know if there are any risks or oversights an unexperienced person would miss. It seems as easy as unrolling the insulation vapor-barrier down.
Post: Why are all the insurance companies pulling out of disaster areas!?
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Insurance companies are just like investors. When investors have a losing asset they sell and move on. No different for an insurance to leave an area where losses exceed premiums
Post: Buying HUD Home
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Kristin Sterling:
It's a home listed for sale on the MLS but is actually a HUD sale. When I looked it up on the HUD site it's says exclusive listing for owner occupied or approved charities. It's is a home that has historical significance in our town and lots of original detail. Unfortunately it is not large enough for us to move into right now as we have my elderly mother living with us. So we we would want to buy it, restore it and rent it out for a few years with the hopes of living there down the road.
If you submit a bid during the owner occupant period you will sign a document stating that you will occupy the property within 60 days for a period of one year. If the property does not sell during the owner occupant period it is available to investors with no occupancy restrictions
Post: Health Insurance Options
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
We use Christian based medi-share. We are healthy in our 50s(Me) and 40s(Wife) and selected the higher deductible. The cost is just over $300 per month for us
Post: Looking for a Litigation lawyer recommendation
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Ali Masoudi:
Does anyone have a good experience or recommendation of a litigation attorney (in real estate JV/Note) in Texas or local to Austin?
Post: Property Mangement, why not?
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Seems like the consensus this for is pro PM. I will go the other way. I have 30+ rentals that I manage myself often times from 1000+ miles away or outside the country. However I am also a broker/flipper and have my own crew to use for renovations and major repairs. The reason I would not use a PM are:
-No one will care about my property more than I will
- I have the knowledge to analyze repairs and what the cost should be. For instance, many here would say the cost To replace an a/c system would be $10-12k. The unit itself is under $4000.
-I utilize Facebook, Zillow and Avail to rent my properties. I have not had a property vacant more than 30 Days in 30+ years
My guess is I save $50,000 a year by spending a Couple of hours per week
Post: marketplace? zillow? boosting listing worth it? marketing a rental
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
I have found that Marketplace works the best in smaller communities. The boost cost is minimal and I have seen increased traffic when using the feature
You can get your property on Realtor.com without using an agent by using Avail.