All Forum Posts by: Brian Kennedy

The VA does not have a credit score minimum. The lender will evaluate your credit history.

@Don Harris That has been a concern.  I passed on one condo because the development was having problems with nonpayment of fees and numerous foreclosures.  

What were the assessments you encountered?  I am in a good cash position but of course would like to stay that way and not weather any hits from the condo association.

Are there any specific pitfalls to buying and then renting out a condo?  The condo I am looking at is a 1bd, 1ba in a nice area and has been recently renovated.  

My cost for the note plus condo fee and taxes/ins will be less than $700 and I'm looking to rent it out for at least $900.  The place I do my day job is in the midst of hiring many young college graduates at good rates of pay and the condo is within 15 minutes.  We have an internal network where I can advertise directly to the workforce...a workforce that periodically goes through background investigations and is held to a high standard of ethics and financial responsibility.

So I don't expect much in the deadbeat tenant arena, and the building/condo is in very good shape.  But hopeful eyes tend to miss dangers and I don't have a long background to draw on for knowledge when it comes to rentals.

Everyone, thank you for the information.  Sure pays to talk to the experts.

I appreciate the feedback but I think I maybe should have said the property is not fully owned by the seller...they have a mortgage.

@Nick Disney

I downloaded the form One To Four Family Residential Contract (Resale) from the TREC website.  Is that the correct form?

Talking with a seller who wants to avoid using a real estate agent, which I don't have a problem with but want to make sure the deal is done according to law.

Is it possible to buy a home in San Antonio without an agent? Would a Title company and a lawyer suffice? The home is only a little over one year old.

According to the article Ben referenced, any bubble forming is nothing like the previous one that led to our Great Recession.

As long as the rating companies are giving honest grades and bond buyers are showing discretion in underlying paper, there will be no massive bubble to snowball into a massive crash.

Individual investors beware according to the investing market of your choice.  

@Steven Myers

MDF will be more stable and require less work to prepare.  The pine will need to be primed/painted/sealed on all sides or else it will warp or bleed through.

Once installed, they don't look much different when painted.  

@Eric Harris

Thanks for sharing your question...I learned quite a bit seeing the answers flowing your way.

Question:  Why is an attorney needed for a 'Subject to'? Isn't it an agreement between the seller and the buyer?  And couldn't an umbrella/personal liability insurance policy cover the buyer?

One more thing, does Mr. Harris have an LLC?