All Forum Posts by: Wade G.

Sounds like Asian Beetles, not the common Lady Bug as we know it.  Those things can infest a house by the hundreds or even thousands in the cooler months.  They leave in the summer.  I get them in my cabin in the woods every winter.  I have spent hours...days, trying to seal any possible entrance into the house to no avail.  You may have a problem getting rid of them and every tenant will complain.

@Chris Mason thanks for all the information.  I dont want to screw over the LO so six months it is.

Seasoning has me confused. I purchased a property with hard money and then refinanced into a 30 year loan a month later. My loan officer has said a property must be held for six months before it can be sold. Title company I closed with says I can sell at anytime to a cash buyer but have to wait 3 months to an FHA buyer. I purchased this property with the intent to rent it out but it is looking more and more like selling it may be a better option. Also, does the time period begin when I purchased with the HM loan or the date it was refinanced?

I understand it is typical for commission to be equal to one month rent.  Is it an unwritten agreement among realtors to not show houses that pay less?  For instance, if commission is 1k but house is listed at 1,600 month.

This is an odd question about buying worthless rural property but I want to do it.  Situation is I have rural property along a river that floods half the year.  The unimproved lots near me mostly have owners that died many years ago and likely did not have wills.  The county will not foreclose on the properties because the legal fees will cost more than they will ever make on taxes since the lots are taxed at about one dollar a year.  So I can't contact the owners and the county won't foreclose.  Am I missing something, is there no way to acquire these lots?  I talked to an attorney about adverse possession but he said it is very difficult in Texas.

I would concentrate on college.  Hopefully you are pursuing a type of degree that society actually needs.  If you become a specialized professional such as engineer, lawyer, accountant, or some sort of medical professional your potentially high career earnings will enable you invest in types of hands off RE...or hands on if you like.  The hands on type becomes a PITA as you get older though...in my opinion. 

I had a 2/1 once and did not like it.  If something went wrong in that one bathroom then it basically needed to be fixed immediately.  With two bathrooms tenants can limp along a day or two and just use one bathroom while the other is getting repaired.  It was nice to only have one bathroom to rehab during turnovers though.

Just turn off all the water fixtures in the house and look at the water meter to see if it is spinning.  If it is spinning then yes you have a fresh water leak.  If not then the wastewater line may be leaking so the plumbers would need to camera the line again.  The main fresh water line probably comes to the house straight from the water meter.  Look and see if any excavating was done in that area when they replaced the sewer line.

I learned that people are who they are.  They were not good people that turned bad after they moved in.  They were bad to begin with and I did not do my background search diligently enough to find out how bad there were.  The longer I do this the longer my rentals sit empty during vacancies because I seem to keep making stricter requirements and getting pickier with each vacancy.  I would rather have a house sit vacant for a couple of months before I rent to a questionable tenant. 

It's been decided we are going to meet at his bank where I can actually see the cashier's check get created.