All Forum Posts by: William Avery

I once bought a house for $15,000 without ever getting inside. I thought, "How bad could it be"? Well, $35,000 later I had a $50,000 house in a $30,000 neighborhood. (Makes it very hard to sell.) But ooohhh the education; new plumbing, sewer, drywall, electrical, insulation, house leveling, windows, doors, exterior siding, adding HVAC, and roofing repair. I had the best house in the neighborhood for several years. Now there are several new construction houses. I look inside all of my potential properties now. But, ooohhh the education. 😁

Get the inspection. With that said, I have bought most of mine without an inspection. But, since I do my own rehabs I have learned what to look for. Inspectors not only find issues that anyone can see, they are also familiar with local codes. If you have never had an inspection before then be warned, there will be pages and pages of issues. Most of these will be minor or throwaway items. Things to worry about are hidden things like under slab broken sewer lines, broken rafters, too many layers of roofing, etc. Don't look at the inspection as an expense, look at it as a bargaining tool and as a to-do list. Best of luck to you.

Hi @Andrew Morefield,

I am a realtor in Austin and currently have two SF rentals in Killeen. 

I agree with Brian Adams evaluation of the Killeen market, especially the comments about property management. I have used a three PM's and have talked to a lot more. After many conversations I have found a PM that I am pleased with. The owner is ex-military, they charge less than the others and do a great job.  There are no hidden fees and if the house you are renting is in good shape they have little or no reserve requirements. They have found quality tenants for my properties within 30 days where other PM's couldn't find anyone for months. They visit each property twice a year to inspect and look for issues. Billing and statements arrive on time and are accurate.

Private message me if you would like their contact info.

Hello Teresa,

Welcome to BP. 

William Avery

Try these guys, if you're still looking.

Anderson Advisors

https://andersonadvisors.com/

Welcome to BP and Texas, Kathleen!

Good responses, all. Thanks. 

Can I walk in off the street at a supplier and buy materials at wholesale prices?

William

Should I pay wholesale or retail prices for my building materials on my rehab projects?

William Avery

I've always felt the overlap was sufficient. With the surround being so lightweight there is nothing to keep it from flexing constantly. I don't think even the best caulk/silicone would stand up to the flexing. Once you get the first gap in the caulk/silicone then you are allowing water in that can't get back out. Trapped water and dark space = a mold breeding ground.

Be careful with the quit claim deed. The title company will not accept it as a valid transfer. They will make you track down the seller and get a warranty deed. 

I just went through this in late 2014. I was trying to buy a house where the current owner had acquired it with a quit claim. The current owner had to track down the previous owner, from years past, and get a warranty deed.

I don't know if this is a Texas thing or even if it is just a thing with the title company I was using. But, it was a pain and did delay the sale for 6 months.