All Forum Posts by: Pratik P.

Guys my work decided to put me on a shift tonight from 8pm to 8am (I'm an EMT).  If I'm too tired in the morning,  I may just go home and crash.  Just so you guys know :) 

Thanks for following up and letting us know sue!  They should have thought it through before it got this far.  I'm sure many residents won't be renewing their lease.

I wouldn't worry about it.  A lot of real estate agents don't have a clue what they're talking about when it comes to creative RE.  You're putting something under contract and assigning your interest to another person.  

However,  I wouldnt blast a property on Craigslist,  etc because that does look like brokering.  Try to build a small reliable list of cash buyers in your area and contact them directly when you have a deal.  If it's a good deal,  I don't see why it wouldn't close fast.  I don't really understand why some people want a buyers list of 1000 people! 

Any luck with the mail campaign? 

I don't think its fair to have someone go downstairs every time they need to use the restroom. The best thing to do would be to put them up in a cheap hotel and get the work done fast.

Oh my god, those taxes and HOA fees!

If it was me, I would do the following before I decide to short-sale. 

1. Adjust my rent to market value

2. Get the property re-assessed because those taxes are ridiculous

3. Have my tenants pay for water + sewage+ trash. I think they must be wasting massive amounts of water if its that high. 

My guess is that as more residential units are added, the rent prices are going to go down since people have a lot more choices on where they can live in that area.

Do you have experience with out of state rentals? 250-400 cash flow is awesome but I wonder how difficult it would be to manage something that far. 

On a side note! I'm looking for a place to rent out myself in the downtown area. If you're looking for a renter, PM me with some info!

If I were you,  I'd only see the tenant as a temporary bandaid to the problem.  I'm assuming you're not accounting for repairs and vacancy in your expenses to leave $100 in cash flow. I'd sell the property while it's still occupied,  take the profit and reinvest it elsewhere. Maybe you can use it as a down payment to house hack a duplex?  :) 

Heyy! 

So first off you'll need to  figure out if this is even a wholesale deal.  Tell your seller that you would probably be able to offer somewhere near just what he owes.  If he sounds motivated enough to go that low,  then you'll need to calculate rehab costs.  

I would definitely not spend the time, money and effort trying to evict them or bribe them to leave. They were never your tenants. This is purely a trespassing issue. Like someone said, Texas is an open carry state!