All Forum Posts by: Nia Black

Thanks for all the hellos.

The market here is slower due to the fact my buyers are usually 1st time with credit issues.

My cousin in Cali started a company and because he enjoyed the work so much, showed me the ropes. I decided on affordable housing because there is always a demand, and it 's rewarding to be able to help someone and earn a living at the same time.

I like to hear some suggestions on how to keep my shirt this market (my Houstonian friend). My one option is to rent my current spec homes and sell when the market turns around. I would like to do a lease option if I can find a creative real estate attorney in TX that knows what they are talking about. I haven't had much luck with one but I will keep trying.

When I started in real estate is was the old fashion way, buy with down a payment and use the equity to buy another and repeat.

I now realize that there are more creative ways, and I'm like a sponge trying to find out where I fit in.

I enjoy traveling, exercising, movies and comedy. My weakness is chocolate decadent desserts (ummmhhh).

Nia

Ihor,

There are a lot of different variables that you need to answer to give you suggestions like:

1. Is your building a multi unit of sfh?
2. Do you know anyone in that area or have you meet some of your tenants?

I had sfh's and duplexes out of state and I have a multi unit in the same state
that is a hour away from where I live now and I use the same method as I described earlier.

Pm with your contact info and I will be happy to answer any questions.

Nia

The problem I find is getting someone to do what they say they are going to do.

1. Check your contract that you have with the mgmt co to see if they are
liable for the missed rents.

2. Never allow your payments from the company to get that far behind. You
need a system in place to track the company and act immediately. You're
paying for a service, so hold them accountable for there actions or fire them ASAP!

3. Never expect someone to care about you investment like you do.

I managed my own property from another state for 4 years. I would take a unannounced trip to check out the property annually. I would give 24hr noticed to inspect the interior units after I did a drive by 1st. You can find a lot of info just by sitting down the street from your property at different times of the day and watching the area. I also would talk to people that I seen in the neighborhood as if I was interested in renting.
You'll be surprised the info people will tell you. There is always someone that knows everybody's business in the neighborhood. I also had a local P.O. Box for my tenants to mail their rent to, then had the Mail box service forward my rent to another P.O. Box in my state. (Choose P.O. boxes that have street names instead of P.O. Box for an address). You can also get a voice mail service with a local number for the area. My tenants never knew that I lived out of state. Worked well for me, because using a property management company was a nightmare and a joke.

Just my 2cents.

Nia

I already realize the wealth of info and knowledge on this site. I
enjoy reading the comments and you'll see me around the forum.

Nia :woohoo:

Hi all,

My Real name is Bennette and I discovered the site on one or my restless
nights, which led to surfing on the internet.

I'm a developer specializing in building single family affordable homes for low to moderate income and 1st time home buyers. We also expanded our
services to home remodeling. ( Just trying to keep my shirt with this subprime and down market mess) :)

I've been buying and selling real estate since 1985. It's great to have forums like this because when I started out it was alot of trial, error and prayer.

It's a pleasure to meet all of you and I thank everyone for sharing their experiences, good or bad because that's how we grow.

Nia