All Forum Posts by: Pete Harper

@Hana Moorscaudle

Do not use Homespec out of Temple. They showed up to a 2-story inspection in Killeen without a ladder. Couldn’t inspect the roof. They had to come back the next day to finish.

@Jay Shuler

Last March I was having trouble finding a commercial lender willing to do a cash out refinance on a BRRRR. All the big banks were not lending. No luck with BoA, Wells Fargo or etc. Finally I made a list of 20 smaller regional banks and CU and started calling. I found two; Vera Bank and CBTX. I was able to close with CBTX. 80%, 4.25% 15yr.

@Jason Howell Something else to consider. The tax sale does not clear all liens against the property. There could be other liens that need to be resolved. For example I purchased a city building lot at the tax auction only to find it had city weed abatement liens that were higher than the purchase price. Seller may have had a similar “surprise” and wants to unload the liability.

@Ty Ottaberry

Fairfield and Palestine here. I Just sent you a PM.

@Jon Greer Just pointing out the dubious news sources from the left and right sighted in this thread. If you don’t like my comment then use better sources.

@Nicholas L. Know your news sources. https://www.allsides.com/news-source/vox-news-media-bias

@Lucia Rushton

https://mediabiasfactcheck.com/noq-report/

@Jon Greer You might want to check the voracity of your news sources. Quick google search on blackrock buying homes only turned up “fringe” news sources. Revolver is a highly biased right wing media outlet. The BR connection to the Fed is even more dubious.

@Jayden Hamilton The majority of my tenants don’t have bank accounts. Most are not very computer literate. All the new fancy electronic funds transfers are just not an option. In these cases I ask that they pay by money order. They can walk into Western Union and get a money order with their cash. This provides them with a solution that is similar to a personal check. For me the funds are guaranteed same as cash.

@Kenny Hardcastle I did some research into solar for my personal residence in CA. It didn’t make sense financially. In CA PGE is your only option for electric. During the day when you generate solar you get paid at tier 1 price. When you get home in the evening and it is dark you pay tier 3 pricing. At the end of the year you get a true up charge. Talking to people who had solar they were paying $3-4k in fees due to price spread. That was close to my annual electric bill.

For me that same capital would be better spent upgrading my current properties to raise rents or simply buying more properties. I don’t like the paid utilities price model for rentals. People tend to abuse the service using more than they would if they paid for it themselves. We are doing a duplex renovation and I spent more just to fully divide utilities.