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the best way in my experence is they need a good scare
make a lawyer write you a paper , only cost 100 to 200 bucks...
i have done this and help me get my money back...

this management company is using you to make money...they are not intented to help you. find more management company...
from my experience...you want a individal person you can trust
companies are larger with larger expense...they motive is to get more money, some don't even go to the properties for months!

good luck
thanks

sunsmicro

your skilling in fixing is time and cost of saving labor

high cost states such as calfornia, new york and hawaii.
labor cost is too expensive unless you can do the work yourself.

however, states such as texas, new mexico
labor are cheaper and but the risk is if you can able to move the property
(able to sell it)

test your market first.... slow moving states i would stay out unless you have a buyer...it make sit for months or years.

thanks
sunsmicro

you are looking for long term investing
this isn't such a good idea unless you have cash

i recommond you do some cash flippings
remember you don't want to tie up your cash
a big lesson i learned in my beginning years. haha

good luck to you!!

thanks
sunsmicro

it depends on your experience and skill

i would do more research on your area first...
15K is not much to work with in real estate....

however, there are many different things you can do...

what i do well is....
if you can market that property VERY well...

you can finance 100% and fix the house and find renters
quickly flip the property at much higher price...
(again this is if you are aware of your AREA, if you are not sure please do not follow my way!)

since it is fully rented out...other beginning investor will pick it right out of your hands...
all you need is a few months of cash to cover the rehab time and closing cost!!
again..its one or many methods!!!

good luck to you!
thanks

sunsmicro

Dallas is great....
but lots of risk..since it tops forclosure in the nation...
the key is rental
cash is king...
if you can rent it.... your money will come!

thanks

sunsmicro

to use your local newspaper....
you can find out if it is good or bad just by looking at your local newspaper...
such as

rental in the area
how many listed for sale
how many listed for rent (determines if its more investors in that area or not)
and much much more....

and if that spark your interst call your local realtor
they can help you out for more info....

i don't go right into a realtor....since i feel bad if i work them to death and you don't buy from them..hahaha
i only use them if i am serious in that area to purchase

thanks

sunsmicro

myfico.com

it cost money but it worth it...
don't use any lender to find out...a hard check is what commerical use..
it will lower your credit score

thanks

sunsmicro

the cap rate is too low....
i have not check it ....
but looking at it quickly

it is too low either way...
i would not touch any property now unless its near 10% cap rate.
7 or below is too risky in my opinion....

thanks

sunsmicro

do not trust websites
they are there to help you get general idea of the area

not to use them to buy or sell !!!

use a realtor and get REAL data on your area....
they all are ready to help you if you are buying or not...
however, you need to give impression you are buying with them...

good luck!
tthanks

sunsmicro

its a small amount to work with...
it depends on your risk....
however, start investing with little as possible.
go wholesale investing

or

if you are skilled in marketing and moving the property. (what i am currently doing )
i do 100% financing and find renters in the property and sale higher sale price. since its full rented out...they sell for higher amount.

there are sooooo many options for you...
good luck!
thanks

sunsmicro