All Forum Posts by: David A.

My lease says quarterly. But sometimes skip one quarter if tenants are taking good care. Check plumbing hvac (filter) plus just general shape of the home my hopes are by having quarterly. At least if they don't keep it nice all the time they clean up for when I come or if they don't then tells me they might not be taking care if the home.

Have them do direct depost or ach not a wire. Yes wire will cost you but not to do ach transfer which is basically the same thing an there won't be any more delay than there is with a wire. The issue may be the pm may not want to incur the fee to send ach or setup their account to do so as there is sometimes a nominal fee like 2-4 per month then sometimes .25-1 per send. But that's much less than a wire.

for roomates yes looking at the amount they are each responsible for

IE:

1000 rent each is responsible for 500 so would need 1500 income EACH

For a couple some people take just 1 of the incomes to make sure they can cover it with the 1/3 rule.

Yes you factor I. Taxes. In Texas your taxes are anywhere from 2 to 4% of assessed value. So it's not chump change :) so you had better account for it

This time of the year is when it starts getting slower, But things still do rent. If i ever have hard time renting i start looking at comps, what are others renting for, what do they look like, am i over priced or am i priced just right and is it the slow time. Sometimes a rental having a Fridge or washer and dryer can be the tipping point for some.

If its just the slow time then consider lowering your rent to make your place more appealing to live in for renters. or just ride it out when there are more people looking in the spring.

never seen the need to stage a rental. To me its a waste of time and money.

Personally I would run from this deal as once you become owner and you are aware of this issue prior to buyin you take on the damages caused by the property. Just think what if you discover is contaminating not just soil but water supply to neighbors. That could end up being millions if they prove it makes them sick etc...

Welcome to bp. Houston is a great city to invest. I'm in se houston and always on the lookout for new homes to acquire. Just find your niche and the prices you can pay and stick to it.

Insurance is high in south houston more so due to the windstorm coverage that you need. Most likely because of your location you are having to buy from tx windstorm pool which is high. Depending on home 2000-4000 isn't crazy for that part of the policy. You should try some independent agents not just Allstate State Farm etc.. As some independents will write windstorm in your area where big boys like Allstate won't. As they recently just started writing again in Harris county (main part of houston). Hope that helps I'm in se houston so ask any additional questions

We are getting Into the slow down time. Have u checked against your comps are you inline or high? Are your comps in better shape than yours? Do they include fridge and w/d and you don't? All these can be factors