All Forum Posts by: Rocky V.

@Jon Huber 

If they are willing to let you take over payments via "sub2" then I would look at the numbers more closely. What repairs are required in order for you to lease home? Is payment fixed or on an ARM? How many years are left on note? What could you lease home out for? I took a property over sub2 in my neighborhood in 2011 which required little repairs and cashflows over $300/month. At the time they had negative equity but it is now at or slightly above market value. I would definitely do more of these if the opportunity arises.

@Shamsideen Musa 

Welcome, aboard!  Glad to see another DFW resident on the forum. 

Good Job!  You took care of the matter and the tenants should realize stuff like this happens.  Whomever glued the cap in place is at fault and should be providing you free labor for the damage they incurred.  I would recommend finding another contractor if this one is not going to own up to his mistakes.

Agree with above post.  You should not be given him any money but you can give the funds to a title company which will disburse funds appropriately upon closing.

Check the ground for any wet spots.  I would also recommend dropping food coloring into the tanks of toilets and seeing if you notice it in the bowls.  There may be a small leak from your tank to bowl connections. 

Count me in.

I would definitely look further into properties 2 and 3.  What is current interest rate?  Is it fixed?  How many years left on note?  What are conditions of properties?  Is there any deferred maintenance? 

@Joel Owens 

I do agree with you for the most part, but how did that mentor becoming a millionaire?  Was it through mentoring or from real estate investing?  I would personally find this out and verify before spending that type of money. 

@Jamie Wooley 

Bid seems on the low end.  Make sure to confirm insurance and referrals.  If you can I would view an existing project they are working on. 

Wow!  That's expensive.  Is he an active investor or riding on the coattails of his students?  I would look for local/active investors and get mentoring from one of them.