All Forum Posts by: Account Closed

^^ What he said.  Have him mail back the originals immediately.

Have him sign the lease without her.  Make it a 3 year lease.  He is more than qualified.

Unless you are experienced with building homes and everything that goes into it, you are probably better off with a handy man special.  New construction cost is typically much higher than a used house.  I know you see crews are working EVERYWHERE.  So that means that everyone in the business is working who wants to be working.  Empty lots usually have a lot of back taxes on them as no one is paying them.  Hence the reason they are empty.  

Don't try to time the market.  It doesn't work.  If your job is very stable and you find a home you like, but it.  If you were any good at timing markets, you would retired from the stock market already.  Be comfortable.  There is a substantial dollar value associated with that.

 No.  Unless you are authorized on the account, they will not talk to you.  Go ahead and try, I certainly have.  It is just futile.

"A bird in the hand is worth 2 in the bush."

The universe deliveries us opportunities everyday.  If you have an opportunity that works, take it.  You are not guaranteed anything tomorrow.  

Banks and loan servicing companies will not talk to you period unless you are 1) the note holder or 2) authorized on the account.  There are no exceptions to this.

I am going to assume you are new to this.  You about an inch from running afoul of a discrimination lawsuit.  

1. You need to have clear, articulable (preferably written) requirements of your rental criteria.
2. You need to processes each application as you receive it.
3. Once one is approved, you offer the rental to the person.

You are a treading a dangerous line if you publicly advertised this property for rent.  If you rent to a white person and a minority applied first, they can easily win a discrimination case against you.  You would be totally and rightful screwed no matter what your race or ethnicity is.  Do not try to cherry pick the best applicant.  Pick the FIRST qualified application by gong in order of applications received.  You will save yourself a ton of trouble in the long run.

I cannot speak to Texas, but this is what I would do in NC.  Wait.  If it sells and assuming you actually put a lien against the property (all of his properties) for your judgment, you will eventually get paid. Yes you can pull his credit.

You need to inform your insurance company AHEAD OF TIME that you will be rehabbing it.  Mine gives me 3-4 months to get it in order before they send out an inspector.