All Forum Posts by: Drew Dim

Houston is experiencing the

Howdy all! Its looking like I'll be a transplant from Tx to AK. Still waiting to know for sure and then it would still be a few months. The wife and I are looking to house hack while up there and purchase a duplex/tri/quad or what ever works within our budget. Do you experience investors have any advice on Anchorage vs Eagle River or even as far out as Palmer or Wasilla? From what I'm learning the law is more renter friendly than here in TX. Any advice or introductions are always appreciated. From the frying pan to the freezer and we can't wait! Thanks yall Drew

@Chirag Parikh  thank you for your response!  It is always helpful to hear from another's experience.  I know of a few people who have the tenant cover the first $150-$250 of any incident.  Some use the Life Styles Unlimited contracts which has that included into the contract.  Not sure if its a good thing or bad but figured w a Home Warranty it might prove to be a good thing.  Average $50 per month and is like a Property Manager for the maintenance side of things, as I own a few properties and currently self manage.  

On one of my rentals the seller paid for a home warranty when I purchased the place and during the remodel we found termites and it was $216 out the door instead of $1500 which was a pleasant surprise considering the circumstances.

@Bryan N.    Have you dealt with home warranties to cover your rentals?

Thanks again for the post!

Drew

I had a co-worker who would get a home warranty like American Home Shield etc and put hose on each of his rentals.  If anything broke or there was any issue he instructed the tenant to call the warranty company to come out and fix the problem IF it was covered and the tenant paid to visit fee (in contract).

Has anyone done this and I'm curious of any and all Pros & Cons

Thanks

Brandon Turner I ordered it directly from yall when you had the special when it was first released

Honestly I would seek out a highly recommended CPA whose familiar with real estate transactions. H&R and Turbo Tax just won't cut it, and I honestly feel it's better to be safe than sorry.

Get a secured credit card. Lock up $500 or so with a bank and they'll give you a card with a $400 limit. 6months later you shouldn't have a problem. I couldn't get a credit card bec I had no credit which is why I wanted a card to begin with.

I've been a member for sometime and tried to get momentum and just last month it went from 0 to 100 in no time flat! My mentor/builder got me into a tear down that would allow for 3 high end town homes to be built. I had the house torn down and 2 of the 3 lots are under contract and the 3rd already has interest. From simply just sharing my story and ideas some family friends are backing me to purchase 3 more lots totaling 7 more builds. 1 lot house a house which we will live in and turn ours into our first rental! It feels like 2015 is going to be an EXTREMELY BUSY YEAR! CANT WAIT to see what else is in store!!!

I purchased the book Low and No $ down, but recently found out there's an audio copy. How can I get my hands on that?! Would be soooo much easier to listen as I commute.

Wayne Brooks Ok using "custom built" instead of spec house, the premise of the original question remains, how can/should A contract be drafted???