All Forum Posts by: Account Closed

Tenants threaten to sue especially over deposits.  You should get used to it.

On the other hand, you would do well to keep informed of TX tenant - landlord law as it relates to common areas of tenant interactions.  You can get the basics online from NOLO but should also know when you need to hire an expert (although I doubt this is such a case).

Please search for Rick Harmon on this site (couldn't link to him on my phone).  Rick's experience with probate investing may be instructive.

Just follow the terms of the management agreement to terminate the relationship.  No other conversation is necessary.  

Or, are you asking about early termination outside the contract terms? 

Typically the security deposit, which technically belongs to the tenant but is pledged as security that they will uphold their lease obligations, migrates to the new landlord.  In Texas notification from both new and previous owners should go to the tenant so that the tenant knows who is accountable for their funds and for reconciliation after they vacate.

Thanks for the replies.  You have given me some insight and I appreciate it.

Russell, thank you.  I will be at the Pentagon and using the Metro.  I am trying to avoid suburbia and the big box stores etc.  Thank you for the comment on crime, I will keep some reserves for a bullet proof vest.

I would greatly appreciate any advice on this question.  Over the next year I intend on purchasing a personal residence in the DMV area and need help focusing my search.

I prefer older homes and neighborhoods with character (for instance a farmers market). Transitional neighborhoods are fine but no war zones.  My kiddo is grown so schools are less important.  I don't mind live in renovation projects if the price is right. Total budget less than 450k.  

Thank you. 

Well the only polite thing to do is to bring your own towel and possibly a gift for the host.

This thread is chock full of the contributers that I always pay attention to -- to include Steve.  

Congrats. 

The REI world is full of sketchy people. You have to decide if you want to be one of them or if you prefer a path of integrity and fairness. I have a feeling you are an honest person at heart.

It is always best to pay a fair price based on comps minus rehab costs minus investor risk premium desired.