All Forum Posts by: Valerie Hardiman

 Wale, old post but great mention of Padsplit!  I've never heard of them and spent a couple minutes looking at their site.  Thanks!

Jesse,

I'm sorry you are having to deal with this.  I'm in Florida and our weather just broke last week.  Going from the Devil's Pizza Oven temps to regular (hot) FL August temps so I feel your pain in TX.  I'd let them out of the lease minus any $, damages owed.  They've chosen temperature but you honestly don't know WHY they want out - only they do.  The weird part is what is the difference between the two duplex sides?  Or is it a stacked duplex?  (Did I miss that part?).  You really need to get this situation off your plate and out of your life.  I hope its behind you quickly and as painlessly as possible.

Hey Ben,

This is a professional tenant who knows they can't be evicted because they are paying their rent.  You probably need a lawyer to handle this for you.  If you can, bribe or beg your lawyer of choice to let you look over their shoulder and get their advice on how to avoid this in the future.  My best wishes for a quick and easy resolution.

Val

If you don't already have a local Credit Union join one.  Make a list of all the Credit Unions and local banks and start trying to build relationships with them.  I do agree that private $ may be your path at this point.

C of O is a Certificate of Occupancy.  You get it through your local County Building Inspectors office and its the last stage after any renovation.  Different states have different CofO requirements (I think TX requires yearly renewal while here in FL its a one time thing until the "next" renovation.  Just type in your county and "certificate of occupancy" (I'd do your state as well).  Seller may not have one especially if they were living in the property.  If its an investment property for you you'll need to get it and you may have to do some upgrades to do so.  Better to know what the requirements are going in.  *Big requirement here is upgrading and replacing a/c systems to meet new standards.  Lots of folks will try to sell old stock a/c and be a little fictitious about it meeting SEER standards.    Any state you are buying in you need to know THAT State and County code to protect yourself.  Its just a bit of Google time.

 Naveed, he said his investor friendly realtor is finding a tenant.

Bob Stevens' advice is really good.  That was the first thing I thought - reduce the bedrooms to 3/1, section 8.  I checked out the map and the surrounding area has an Aldi, is better than the immediate map looks in things people need and should have any nearby bus routes listed in your ad.  Rent needs to go lower.  A person moving to the area has NO community clues at all from your ad and no desire to live there after reading your ad.  Whoa, schools are seriously bad in that area.  Trulia often has a neighborhood description by people who live there and this might help you:  https://www.trulia.com/n/oh/cl...  

This house is for rent on same street and has done a much better job with pictures and description if you want to look at it.  Rent is $1075 and that backyard, even unmowed is a great pic.  https://www.realtor.com/reales...

Sanju, 

I didn't notice the GSE/Opportunity Zone reference.  Fannie and Freddie should be all over that (I think).

Hi Sanju!

Have you tried Fannie or Freddie Small Loans?  I think Fannie Mae's product is Multifamily Small Loans and Freddie Mac's is their Small Balance Loan (Freddie - better for small building / larger metro while Fannie is better for smaller areas).  Otherwise, you might make a list of all the portfolio lenders and just start calling.  If they don't, ask them if they can recommend a lender who does.  Good luck!