All Forum Posts by: Marian Smith

@Kelly Bellini Liars lie to get what they want. I had a tenant lie saying she was co-applying with her fiancé and then he did not move in. Her finances were good so I signed the lease...it was on move in day that she sprung it on me. Said he decided to live with his brother to help said brother. Hindsight, yeah, right. Next she moves daughter, baby and baby daddy in without saying a word. And a puppy! Turned into a screaming witch but we sent fix or quit notice and made the puppy go. Did not renew lease so the vacancy was kicked down the road a year later. Should have taken vacancy up front. Very pretty female turned super scary witch...not the only run-in we had with her. so glad she is gone.

@Joni Chin Your house, live your life. If tenant is unhappy she can request a lease release. Or she can leave once lease is up.

@Eric Andersen 12k stairway deaths annually. I would not have a ladder in a rental. Those treehouse guys on tv build stairs. Just safer.

@Dylan Salem Weary is tired. Wary is apprehensive.

@Lauren Hulsman Some landlords require each "unrelated" tenant to individually qualify at 3x income.

@Jamie Morehead Don't waste your time. The quality of her home justifies the value she has set vs comps. Or she decided on a way of reaping future appreciation while selling by exchanging (charging you) for supplying owner finance. No way of knowing the thought process, but it is crazy so just walk. No real motivation to sell, just daydreams.

Selling a 1950s 3-1 with a 2-.75 'attic conversion in Austin msa, Round Rock. Would I be better off creating an exterior door to the attic area to create a possible private entrance adu so a buyer could envision extra income? It could be easily done (adding a second door to the downstairs living room at the bottom of the stairs so it could still be one house ( maybe with double deadbolts like hotel adjoining rooms.) Or would I be better off just adding a closet to one of the upstairs rooms to be a true 5-2 house? The attic has low ceilings so it would be kids rooms upstairs...or it might make a couple of decent offices. The house about 325 sq ft up and 1400 sq ft down. The adu wouldn't be "legal" but there are a few in the area and it is an eclectic neighborhood with some relocated homes, a few mobile homes, and a couple new builds. But a 5 bedroom might generate 2k in section 8 rent. Not really sure who the buyer would be. Thanks for reading.

My neighbor hires for one of the top tech companies here...and bay area.  She says you have to change jobs to get meaningful salary increases.  I recommend not locking into a property...even if you can always sell because it costs 8-10% or so to sell.  You are too young in age and career to tie yourself down.  You may get a down payment assist but then be reluctant or unable to take a job somewhere else for 15% more per year, every year.  Sure, its cool to own and invest and airbnb.  But it is also more stressful and, I think, riskier than renting and putting what would have gone to equity in a house into a Fortune 500 etf.  Congrats on an awesome degree/career.  My daughter is your age, an engineer and is moving to the Carolinas because she and her boyfriend think its pretty and will be fun.  They rent so they can.

@Wynn Meyer I have insured vacant properties with foremost. I want to say by phone and no inspection. No personal property, and stated value I think.

There is a local builder named Lynn Currie who is on facebook and has been around a while. She apparently has friends who renovate central Austin for a living.  I think she may be a developer who tears down and builds 2 units, but she has a podcast where she talks about her rehab  friends, her personal central Austin remodel that likely cost her more than a new build, and that she now only does new builds.  (If you are a "6-8" you may find it cheaper to do a new build).  Also, just thought of this, there are professional permit expediters in Austin.  Surely one of them knows who regularly pulls permits for drywall removal, rewire, replumb, insulate, button up.  The cosmetics don't require permits.  Windows without reframing are express permits (but if you need windows, siding, roof, you want to do the exterior stuff first to protect the interior work).  Congrats on your new house.  Hope you can find someone.  Maybe a contract attorney knows some gc's  who do a good job of spelling out work scope and rarely have client problems.