All Forum Posts by: Raman Saka

Hi

I am in a situation where I need some advice. I recently bought a 2 unit multiplex which has section 8 tenants. This property is in Tarrant county TX. Before closing the previous owner gave us leases and based on rents mentioned in them we closed the deal. Now Tarrant County Housing Authority is telling us that the agreed rents are lesser (around $100 short per month), looks like the previous owner must have altered the leases to show higher rents.

So what are my options here? What’s the minimum compensation the previous owner has to provide to make up for this? Is it difference of rents multiplied by the remaining months on leases OR there is some other minimum penalties for this kind of fraud? The previous owner is accepting some of this wrong doing, so hopefully we will not end up in a small claims court.

Thanks 

Hi 

DFW market had been on my radar for a long time and finally I have been able to purchase rentals in this area. Being an out of state investor, I was not able to do good enough property research before bringing them under contract. I have a local team in DFW area and we are learning from our mistakes in these transactions. What are some of the strategies that out of state investors use (particularly in DFW area) to ensure that we are picking up great deals in neighborhoods where rentability will be high for years to come?

Thanks