Real Estate Radio, 9/10

Real Estate Radio with Jason Stubbs
Sunday, September 10th

Real Estate Radio with Jason Stubbs, for September 10.

00:46:50

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Welcome to the real estate radio I'm your host Jason stents to. Wanna share your real estate stories call now at 51 C 6409610. And now here's Jason Stubbs. Came up with a show this is we'll stay radio I'm Jason stub your host mortgage professional indoor consumer advocate for all things real estate. Big gust or two and then we'll come into you from beautiful awesome Texas. Writer for the patent law from studio to talk thirteen seventy. They don't appreciate you guys owner AM dial thirteen seven we have always right here twelve noon on Sundays and also KB DO TV and welcome podcast listeners if you as a while the podcast you can. You can do that touch released dudes got to search rules that radiant Jason stoves and don't download that you can. Subscribe to it and soon as we are troublesome and he shoots an air right your little embarks. Also a girl breakout segment set top that will be talking took to folks from around the country around town will be checked don't fund. And hot markets like county of San Diego a suits going in Florida after the Sutter and it's. Also be talking to to some folks have Houston agreed to last week and just check on the on the small hometown so philosophers gonna of those folks Tex lines open. Keep your your questions come in and 5126409. 610. And of course our app out there. If you're in central Texas area you can shop homes and all around central Texas. Indict you're not area due to still get interest rates you can check Mao suit to rates have been doing look at rate trends. One month six month to your trends. Will be didn't little bit more and that you're a little bit I sure it's dropped to mean they're they're close to where they were. A pre election so you refinance folks if you haven't done that you need to call us right now we can tell you whether you can are not enough the benefits fairly obvious there's no cost use of a shot it's 512640. 9610. To get our app you calculate your payments and and there's RC refinance calculators are too so. On text atx as an Austin, Texas atx to 31996. You go links it to you. And you'll also. Just click on that leaky fuel we hope quick scroll over you'll say that the home screen and you can start shopping homes at rates and calculate your pin it's right there. Sean Finnegan is a vacuum in studio with me in a senior loan officer. In our mortgage and now my co host and bloody and in homeboy come here with us and sure welcome back and what's good to be back but it's there. See ya I don't know where you have. Sick kids. Travel. That's what summer's are tougher couple days and would you institute to back home northeast knowing Bob win midwest went to Milwaukee midwest Milwaukee area houses lovely yeah it was never warmer than like 78 degrees which was awesome let's get it I mean Gina. It's. You were there and we are in the for the one Hutus here and yes and beautiful so from Texas that worked out well I see get out get ready for probably the elections you know spend the daytime hours outside for a while yeah. On without worrying about oh overheating but I just gets on a look up to 59 degrees today. 59 and he's coming in in Austin entered it into an accident yes. I mean that's what the Ford F 150 cent well got some problem I got a wealth yeah that's all right my alarm clock and DOS only itself. And boy in your priority do things for three hours. Against them if they may yeah the mornings it's artists have done the it's like mark catch up time before my phone search for news. Sockets at times like 11 o'clock at night yeah yeah. I'm were were there verse right you're out you know watch your up late up early death couldn't help I'll play we got all kind of coverage for this is mortgage company we got going on exactly. So when what's up what's been going on I mean. We've got so on pain these storms are just crazy and people are just frantic. And you know we will we old North Korea action. Little pony and it has all of all this stuff I mean just it it's been affecting our industry. And we're gonna get into that stuff but you know for jobs just checking a couple articles I mean CBC came out and articles says you know lower mortgage rates push. More borrowers to refinance us or looking in the desk. It's crazy how you Hari and Herman can make that kind of impact. On our industry along with you know some things out they're like big bombs or shoot off after North Korea and it just takes that ball mark or tanks that to us that stock market a little bit bring erased on what do you see John. Yeah I mean honestly I'd say the last couple weeks have kind of middle surreal you know I mean. Was us being so close to Houston yeah and and so many people on Austin having friends family. You know does associates I mean are you know and RL's corporate headquarters and I was in Houston since they got a fund for yeah our solar corporate employees are yet so a lot of you know our our our our co workers and and stuff so I feel like the last couple weeks have just been pretty abnormal as far as I mean. They don't see my work is normal because you just don't know your game a caller hears about somebody else in our earlier here about how Houston's front recover. Herb urged drives for these items talked before you know the kind of drop everything you're doing here also an end and trying to help out those people down and you know on the coast port a rock port Victoria you know forget a lot of alive. Q since getting a lot of the attention attention now the national media but man Victoria and Rockport and order a Port Arthur. You know they got hit real hard to be just don't get that attention yeah. In an what you mean I mean when when we have though the flood zone of Russell's. Years ago and I mean the city right south of new Brussels is marked nail ya and we took our mod jet dry boat out there we are dispersed as search and rescue along with an airboat. And it's like mark that we showed mark dale and I thought there should be like police and and far apartments all of the place tell us what to do and just our spirit about a point of donated and told us to go to. And I know the port authors like I mean fidelity spokesman Russian Hewson an all these smaller cities just don't get the publicity. That the bigger cities do so be until you folks out there volunteer and donate money and make sure you know that's up to go one on couple articles out there on the old. The red and white of charity out there that you guys are sent a bunch of my son doing research on that you directed a JJ watt. Yeah discuss doing. Yeah we're we're the 120 million I think 25 million restart with 200000 Catalina and he's up to twenty million mean. No matter just I mean I know we know there's a real honor and and town. I think east up to nine or ten U haul loads of stuff he's I mean they did delivered goes directly to the shelter yeah so there at least you know it's not you know you have to worry if you wanna donate money so he brought a lot of Orleans don't. You know donate items to people you know exactly where they're taken unless like I mean that's what we've got another event coming up GAAP and as anybody duels we'll start sought to those three at. I greater cost professionals. Our mean again this Tuesday. Are met infamous bridge company for the poor shots almost at 46 our six to 8 PM and it mystery eyeballs punts have been rated. Bomb it's a pretty you know a professional group of folks you know it doesn't matter what you do it yourself employed they were for somebody else. It's casuals you know we got some bankers it's open seats and we've got people it's over flip flops and YT shirts so on the people that are around you. I mean it's it's just. I don't know what it is but it there it's intriguing I mean I don't know if that's the right way to put it. But you know I mean you've introduced some folks that are just pretty impressive well and I think the basic is right I've been I've been a bartender and a baseball coach I've been a banker. Now my mortgage guy yeah I've met a lot of people from all walks of life and you know I you know I try to keep my network grown and and stay friends and and the reason I'm I'm bomb bomb promote this thing is we are doing a donation drive Tuesday night. So on the big one of I guess the big push now is bugs mosquitoes are out a controlled on the Sony brass confers anybody that shows up on not Tuesday 6 PM. Acts. It was blurry bring either bleach. Bug spray ammonia. We're not making bombs I promise. But that is what we're gonna get down there and we've got somebody had to be making a run down there. On Thursday so we'll get the goods exactly where they need to go so if anybody wants to come out it's free to attend. Cost free snacks we did say it is by her beer but that's delicious beer and wine out they're not if this prevent. They've also donate if you can't stay for immediate use one and Horry can drop some stuff off so it's gonna get in the hands of the right people. Arm up on DOS road you can't miss it erred. Pretty much the corner of a fuss about a DOS you can't miss it just turn on Huntsman Rudolph sixth when he you'll see the sign up on the right about two miles up infamous for a company. Ominous and everybody wants to donate able to any U wanna raise your diapers water will take that too but the big push for make a four is. Bug spray bleach and ammonia no tip no old Sunnis no old I am not we were no use clothes with you wanted to you know. News socks diapers Bob formula. I'm crazy enough I heard the there's a Chinese shortage of tampons that's out there too because it also is feminine products NM products sorry put Heidi as you said we'll take anything out the big pushes for the the bugs supple take any joy drop off between six and 8 PM. And why haven't gone down on next Thursday. Well they're go viewers an NC rules say radio I'm Jason Stubbs. In dust shock Finnegan were era every Sunday at noon Tex lines open 512640. 9610. Shot out of turn the page little bit kind of keeping it within the mortgage Rome. And you know let's talk about what's. What does this hurricane in Houston has done. I just to the business. Currently so what's happened to the mortgage industry you don't weather's if you if you're in the middle. Of or use of computer trying to sell your home or you're in the middle purchasing her corral what's so what's going on sunset the first. Things first right if you were actually. In the process of either refinancing or purchasing a home and you were in one of these areas directly affected. On the has been declared a disaster area by FEMA. There's a good chance says can delay whenever you're trying to do Tom. The first singer asked to do is check the property condition see ya know if you were an area has the property been affected by storm or not. On the second major if she's been people getting insurance. Even if for having me she's now there's there's companies that aren't writing policies in Travis Tony well it makes sense I mean. You fury in in south Porter right now and so on and hit you is called me OK and influence are correct yes it's not yeah exacted its you know they're not. You know you you're gonna pay you one month avoid a couple of blocks down your flood insurance and they don't cut your check for a couple of 100000 yes your homes lives and get it right so that is why we haven't bailed out insurance cup panel on the I mean they're not sure exactly how much Terry Cain out yet somehow in on every dollar algorithms and things and if you're refinancing I can tell you. It's a lot simpler process right can you not call up and asking for a new policy. You're just asking generally from the change the mortgage geez so your policies misstate the same you're just instead of going to ABC mortgage company you're not gonna be with XYZ mortgage company. On that's not being held up so if you're refinancing and you're not in one of the on target counties. Are not also targeted by about one of these disaster counties. It shouldn't of slow to process done a whole lot now if you're corporate accords like us is a decent your anywhere down there. You know possibly the companies the wall behind but as far as that goes if you're just refinancing union not a disaster area. And you don't need a new insurance policy it should be pretty much business as normal. Alec is and if you're purchasing. Even if you're not in a disaster Tony you've got to check with your insurance company now there's some insurance companies that will. And that's where we can kind of help guessing you we know you know several different lenders Braugher and interest companies brokers things like that we can put your address with somebody they can probably help you out palm. What likeness and anything in the disaster county right now is kind of at the discretion of the Lander so you really need to check reader underneath your work this out how they're handling. What their policies I mean at the least you're gonna have to have. Probably somebody cannot takes a picture to make sure no damage was done. Coach of our guys we got to cut it right there would know we come back we've got saw more we talk a little bit comes from 1836 management. And we've got to a who got a great guy coming up guys were we talking about. Investment properties rental properties all those things will be just load bit more. On the mortgage business how it's affected by the storms commenced a ground. Here we Unita doctor. Seventy. Right suing. There's this little state radio I'm Jason Stubbs. And don't wherever sun I right here on another cut off from studios at thirteen seventy. But AM and course across short TV station here in central Texas I'm also ready homes KB PL. Gust Exxon's opens we got a couple questions from them we'll get to shortly but to keep those coming in 5126409610. We've got to. Shaun are our senior loan officer in here and he says taking questions on on refinances we've recently seen you know rates drop a little bit. And you know I get into it does if you you missed alta after the election. You may wanna have a conversation with the so no we we can help you figure out if I refinance and drive for a 5126409610. Welcome back we're on. Sean man what's we're we're we have here we've got a little bit will hurt came talk we got a little. Talk about interest rates drop and and man what time maybe getting advice other for the first. Okay no we're still getting calls from people PMI behind those are those are some good people calls leaving her house 23 years. Especially in the flew the daughter I just done a couple received for Google the amount of appreciation. Is like only we had we had one guy that was 10% the last two years broad so if you're flew to Rio appreciation here appreciate his house you know so. And the other thing we've got as we've got a few people. You know on the fans may be retiring in three to four years they've been her thirty year loans seminary years and you know they wanna retire they wanna maybe pay their house off quicker you know so we're looking at fifteen years for them. They're keeping their pain about the same leadership and offset an eight years of getting back your pain you know let's say 2000 dollars a month. The paint 24000 dollars a year you shaving years off that you're talking almost 200 grand on an actual you know savings and I'm sort of a lot of that. You know if you're interest rates. You know four point 75 and you being your loan for. Two years or more than a you know deathly you're four point 75 and you got in my costs down on the even if you don't you might might you know just really friends we you know Buddhist insurance yeah we look at. We look at the big picture when you don't do as Cristiano told you last week tonight I told my either refinancing was the best idea and I showed why. You know but just for the appreciate that Tom Stefano we're not gonna we're not gonna just a general on sixty alone we're gonna we're receiver makes sense and it makes sense for you little. We'll see if if you if if refinancing can save some money in particular financial picture long term. There you go public to six or 09610. A surtax on you can also get a call. I would like to. Kind of just take up a quick multiple page turn here. We've got a guy just so we've been what you get in for long Tom Matt lashed her with. 1836 property management. Matt welcome to show man how we don't. Decent time great to see you guys can do good foundation his dad's been a while mamet that's it's worth an hour got a gun happy Sunday. Hang in a little bit to on you know doing that deal and can't I mean let's just get right to it I mean you've got to just Bob held a thing go in and you're not just talking previously. And mean Duma in the Duma but more research on him and you cannot tell you you can elect to guard lot of good things going on social little bit about your company. We've got a lot of irons in the fire but the main thing is that we're management assets for people around the world and so we've got over a few hundred properties over three counties that we manage right here from the start Boston on south congress and it's our job to keep eyes on those properties in boots on the ground we are clients is close is the same zip coated on the street and some as far as China and Brazil and India and and around the world. They can't take a phone call at 2 AM and say hey you wanna talk about it tenant who's got us something back to or maybe they're blocked himself so they've got to empower us without. And it's our job look out for the best centrists and take care of business. So talk about that and you've got folks within the same zip code that we just rather not. Dude this stuff themselves. Let me explain next you know there's lot of folks out there are coming your Mamas from property I'm gonna fix it up so Obama do just a sell you wood or some of these things that they need to kind of look out for or you know things that you've seen. You're through your time in the industry that you know they might be thinking about you know from a larger picture it's kind of interest in that in the United States it's it's kind of deregulated there's not a lot. This restricting people from managing their own properties other than that sets. And maybe all the money back and yet but if you go to countries like Australia and the US it's about each wanting about 20% people pay managers about 80% 7% of the themselves well and should some successfully some call us later when they wanna get out of that mold or ask us for referral to an attorney. Yes so they can get him out of a pickle right in Australia it's actually the opposite because there's been so many lawsuits senseless litigation that's result of people managing their own property entry intense bad tennis treating owners got to send. Know you people can't figure this out. So we're insecure for you that the so many. Road blocks in place that 80% of Australia actually pay managers because it's just not worth the headache to follow all the regulations but. It's all safer nobody goes to court over things out there meant. I've got me I've got California I was printing a duplex in college town here in the end Sam marvelous also known as San Marcus and you know it was. I have folks and they're there they came by the owners would know they want longer and they moved down from Michigan. And it sort of buying up property sex or me I'm only thirteen of herself in San Marcus may newseum Marcus. Beckham I come home one day we got a big circle drive. And they're they've got the Stanley where the government to cars trucks entered tailgate that I'm not kidding you the barbecue pit was gone drinking beer in their role in the grass and doing stopped state kids run around this is insane is the place your ranting yes so this was way back in the day they'll but the landlord showed up pre 2000. Yet the landlord showed up with some lawn equipment. And they were black I mean that's what they would do when they come mow the yard they'd bring the whole posse and they would just start you got hanging out they're making a day of it so I just got tore my best soccer work and we just got enveloped you know just got ruled a super quick. And next thing you know us are all on bond market pay you rent. And doc from home and I'm blocked out of my house that next guy so many illegal things so and so and so yup that's. It no kidding so now they're Mike what do I do. You also core forming a book called the cultures department. They come out and you know they are they waited there with me and made him unlocked door and they can let you know hey look you do you you can't do this. And so you know they decided yes I can we are back four back and forth but I guess yeah I was down in on the square share markets and in where mosh you know my must close an annual attorney and and we went in there are knocked out of the park easy breezy but that's not something anybody looks forward to do and and it's just you people don't know they don't know yet. And opinions. Assumptions engagement is so much trouble now whether to tennis out of the underside and how it goes all I can do okay yeah well. I'm listening to you know assuming sackler says that the statute or near contractor. While I feel that. Oh that's different right we came from the judge who's elected by the public to serve the public and explained and you feel something pray he doesn't really care exactly so we've got to do everything that leads up to that perfectly suing a standup it's a slam dunking and everybody's protected on both sides. I mean so what what's what are some of the most common mistakes which you see. You investors. To whether they got they own one house one investor property attend and what some of the most common. Things are mistakes that you think your that they are making I would say not treating it like a business as the number one catcher yep people get and that's my goal how hard can it be. And you know I could pull the tooth as well but I would much prefer to go to Dennis tempo and pace money for that service you talk about something that's a 120 your 140 dollars a month on average. For all the head yes and we do get calls. At 4 AM on Christmas Day when he and doesn't work because they have used it and eleven months. But they wanna cook a Turkey now Kutcher and that's an emergency put Christmas in the families come and it is artists are. That burden is waiving pay go spend a lot of time eBay KOCO along that line has. Yeah yeah it's a business I think that's the biggest thing we run into is that people get into this may go well I'll I'll give an inch or. All have a verbal agreement but it's contrary to the contract and so once you establish a kind of relationship you've lost all credibility in court. And you knew you give people an inch they take a mile Agile and it's not that you don't wanna be no Heisman. We had an owner this week and they go well you know this this hurricane in this and now maybe we can give this society what this is business you're gonna stick to the contract the numbers the numbers on both sides. In if you wanna take him amount money given to charity a red cross and give it everything yes. Do that right can tax deduction and make sure does the right place that you don't give money to people. This country to country it's just business throughout south having an intermediary in the middle is really helpful. Because of this kind of funny saying we just keep it real yeah island shall we the paper show me the statute and mortgage for that agreements are agreements and I can see where you can kind of commend your value budge and just not having to have those conversations. People hate me no matter what I did because every action I takes it's a built into the tennis in the bill the Oilers in the bill. I just want to be right yes we know we're not paying the bills we just want it accurate and correct and we don't write the laws so. The bills go where they are. Got to do is tune in this reel save radio I'm Jason stubs to a Barco who shot Finnegan senior loan officer in our mortgage and Matt less Burk 1836 management right here enough in central Texas and and so would sodomy with with with the spur of the spring commotion on school started school sorting primaries this spring and now I'm close to spread it sort of feels a little unless it is critical because my Japanese maples are blooming and that's I love that happens what's your spring and fall so. Petroleum were fall football star yeah. Diverse football Sunday yes today down there the first football Sunday today. Cannot talk about the local college team. But I am first of possibly today and then I guess what I mean Matt this time here as a start slowing down a little bit because school starts or what's following yeah. Few layers going on it's it's gonna get drilling thing I think for all of us because it does not only the slower season you know entering the fallen kids are back in school people wanna be settled now our economy is great so people are always moving here moving in and out. But. You've got a lot of properties because of the appreciation or all these years that people are expecting a million dollars for and the marketplace is going. It's worth 700 runner goes well I'm not settle in thirty days goes by sixty days goes by. Maybe I'll ran me down I mean yeah I mean what I'm not gonna give it away right and so we've got a lot of people who are really withheld reluctant landlords. Because then go into a bind their property thinking I just can't wait tavern owners. But now they go I know what it's worth and I'll just wait it out because I bought it at a good position. And it's worth that so deletion out obviously some are a lower price range is more beneficial higher properties don't go for the same. Yeah return on real investment vs the cost but yeah a lot of Hillary that and then with the hurricanes you guys are just talking about and in Houston and I can't imagine that that every person Houston is gonna stay there I mean I love you so I love the people there really aren't anything else gossiping I think some of the people he surges. Superb such programs are hot from their. And we totalled Houston in old Houston it was just eight it was just a community I mean that the CI so big you just don't have unique it's so spread out now but. Good good folks from Houston and good people on yeah among them down there with the the hurricanes. Nothing else Austin that's great people so I can't help but think some of those are gonna come off without a doubt it was weird joke and you know 810 years ago that I just we just shut the gate on I tend. You know just just couldn't let him in here but yes by all means I mean we're we're we're we're ready and available mean central Texas we just don't have the you know. This we're gonna we're running out of room here in Austin got out here are like to shut the gain on I 35. I'm sure on some as a lock it down wall more Sean Finnegan and locking down central Texas we come back also more with the Matt Lester bird with 1836 management does state in Bure back. Central Texas this is Wilson radio I'm Jason styles we appreciate you guys CNN. I'm got a couple of questions come on and on that Tex lines of keep that up. And what that number you can give us a ring choose text file 126409610. That's 5126409610. Or talk a little bit about. You potential options to to refinance some with a couple of things that didn't happen in the world storms and North Korea and some other things that kind of forgot the market shaken up a little bit on there's opportunity. To refinance to a give us a call do that and we we help you theft also less than we were talking. With Matt lesser with 1836 management Matt welcome back another segment Sean. Man we got a good thing going here but yeah we're talking about you know just the the ins and outs of property management some things that tell you know folks run into. But Neil Matt what are some things that you can see you can say to folks out there that haven't really pulled the trigger on that investment property in me. How you know what were some things they need no I mean a lot of people. You know we look at we we don't wanna sell our house we weren't in next thing you know. You got to invest in property in the whole bunch of things that they you know these folks just don't have any experience doing Q what advice can you give those folks who won't take that first step. In in actually get an investor. Property you know you hit a good point because a lot of these people actually still own the properties yet so they're coming to the marketplace in golf well is time to make something it's time to sell right to be all. If it cost you 8% to sell your house figure out what 101000 dollars and and all you did was get rid of the hops right. I don't wanna write a check for 101000 dollars to dispose of an asset that aren't making money yes or see me as he cash refund we didn't of course yeah. Why not cash out some money refi at. Let the house breakeven. They'll pay for itself and neither by another rental property. Or buy your next house without a live within your means that you can afford bones. Now that's something producing forming yeah I've got it refi towards at a good rate threats breakeven to start kill me monthly. And I still get to move I just the cost of the transactions to me is is a killer. In overtime you may have to three times that's two or three rental properties if I'm fifteen your notes. Even thirty you're not to be paid off my retirement you didn't do anything different. I got 11 Klein he's in his late fifties and he's I think he's up nine properties total now. And he and he said you know some guy told them twenty years ago he thought I was a late starter in buildings while some twenty years ago some guy told them you know I don't ever sell piece a realistic. Some real complex death through says he is I just don't sell real state. And he's done a lot of what you said he's pulled some cash out. He's he's some down payment he's been able. Pay cash for some distressed properties and polls cash back out that's another way people can do you know her talk about you know maybe buying distressed rental property you go in and if you need to close quake you can pay cash that property employer of course you know almost your cash back Albert. Yeah I mean he this is only does an easy he buys about one to two houses a year. Our man he's like I'm never sell any of them because they all like he said from also mean in cash flow a little bit form every month on top of that so you can use security your financial advisor to a point. Yeah he pretty much she's facilities and the out now he manages his own which I think is a little crazy not try to convince him for years he's somebody yes but he man is a mall itself for now we'll see if he keeps getting more I think he's gonna have to call someone like Matt. Because I think he's gonna lose his mind and. This is not where the hell yeah I mean yeah in all fairness of I had a property and other city I've got friends across the US we network we. We meticulously. Meet with each other to find best practices and even as close to San Antonio I'm not manage in my own property or call money didn't own up salute to 120 bucks a month for a headache in San Antonio if I'm not driving down there once for. And yet when he dollar right now wall so let me ask I mean you know I'm actually looking at a what do better investment properties right now mean. Seoul Tokyo it's a sack I've by my house I call you what would you guys do for me as far as. You know I rag asserting finding attendant collecting going to got a contract a household argued that are just say hey you ask it what will you guys do what he will he offer what's. There is no and oddly enough 70% of our business Lester was referrals we spend a lot of time in the community and building those relationships and so people. Send us clients consistently and they go the contract is done it closes in two weeks what do I need to do. And and that's all they tell us only go way toll closes sent us either copy the closing statement the title so that we know you actually own the property you're not renting someone else's house. And then now we'll sign a contract that day here's a preliminary view of it's he can be up to speed on it before we ever get to that point. There is a form that they have to fill out which is called an owners notice of condition like a seller's disclosure just has basically. By the way I don't think there's a toxic waste dump appearance side yet because we need a signatures are in Macedonia and out. Beyond that they'll put some funds on file with the so we have operating capital and we take it will be picked up the keys from the title company in the garage remotes. Everything they don't even need to be in state. So all we need is their signatures OK again and again we're back to the guys around the world you know we don't call Dubai and say hey yeah the garage door opener. So they call us tell us where the property as words closing we get their permission and that's yet so we'll do everything from did physically going to the property walking and verify any condition. Making sure it is in the condition you. And it's. So that when it's a rental market it's not well I hope they don't see it because the tents are gonna see it yeah so a good condition price location. Hey that's pretty straightforward for everything. You'll find the Tenet for me everything you give me an idea what I should prior and before. You'll still Tommy there's something that easier done before we sticker Renner and there counseling and Morgan. We're gonna discuss comps before we ever even guess how that all gonna get there you know like how how do you assess that you have doc what what advice can you give folks who throughout their thinking OK there's. You know there's a there's a house out and you don't north of town and if this is the price. How how can you advise them on what they can get rent laws we've got a couple different ways to do and I can't believe he's fed made that one because I was I was too easy believe in downtown and I think we had this unique but that's not obviously and. Austin and other cities are different clean for a Kurdish or nothing. Other cities around the nation and they shared XY or Z and also we premature everything everything goes to him alas for the majority. People that are still listing comes on Craig's list I wish you well. They're playing them most of the data goes to the MLS would have a really good statistical analysis of what your humble reform without. Fifty dollar plus or minus basis on African of the house and the conditions off we can discuss that obviously to be less or more if there's a Rottweiler behind her home that's coming to defense that yes probably not going to be good guests but. Within fifty bucks plus or minus were were pretty close on that. One of the things is most interesting note is that sounds good and OK if that aligns with what parity have. Perfect right. What if you don't know what it should do for user turn an investment so actually got with. Kind of I numbers guru couple months ago we've done this overtime but I have a more resent. Just real sexy spreadsheet and it'll actually plot your return on investment nice no matter when you bought the property or if you haven't. How much you put down which you estimate the sales price or value to be today. What the cost of the sale would be an it'll tell you even if you already on the home today nice if I sold it in reinvested. My proceeds past five or 10% river term where we don't put me over time. Verses if I eliminate the cost of selling a home. And rent this place and I've got all the assumptions built into it on what the leasing gonna cost you vacancy maintenance all these things it's. Total housing expense whiff everything miscellaneous. Everybody's in maintenance and all that stuff is wrapped in pain and 1920s home and Taylor purse say is gonna cost you 20% maintenance because we're gonna repair everything that. And now Tony I know there's folks out there that when a child you about this guy's Julien touched a bat fumble into 6409610. You get this call. Or she just attacks. Matt and I mean my curiosity just sit no readers think and you know global leader if you're too eager draws on a property you. How can use. Help us maximize that profit like let's say we've got some nasty walls and carpet I mean are you able to go in there and say hey. Do you do these two or three things we might be able to hit the top of that market rent mark. Absolutely but I think you actually had. A better perspective when you try to deliver a great product or you buy great server got it is truly about quality more than anything in south. If I go when their put glass and granite is they can get an extra 25 bucks who cares a sweetheart book right. But if I put course. Quality carpet bright just cleaned right and a clean paint job right now I've got a person who's willing to rent a home who actually cares about their family right. They want a nice home and those people don't relocate the biggest avoidable expense I see avoidable because it it can be. Candy here is and tenant turnover rupiah Keith Richards happy right. That's it now. I've got a guy like that on a duplex he he bought it. Five years ago. But one of the tenets had been their thirteen years right. And once seemed Tenet has now still been there in the five years he's at eighteen years once and it one side never calls afraid thing keeps the keeps her half. Meticulous she's a librarian. She's a reporter Angie has shut out there to this oh I'm betting that I I've been there without our help matters once a while he's got to go do like one little thing our help now are we to repair couple while pickets on the fence. No Mattel I mean the house is meticulous you I mean it's just. I mean that's a dream come true it's extremely deep he jacked right up on the underside about 200 bucks who is I'm not reason her rent a dollar yeah exactly you know and sometimes you to tell people that in a people Cummins they had always I think we Sri get another. Potter bucks a month. You'll be do you explain MIC in that pay. This is a great Tenet why mess there any Smart Donna Lewis who Dassault. Did you look at the big picture yeah you know you never won a push out attack his paying rent on time and takes care of the place it's a no brainer your mortgage is fixing only thing going up as. Maybe your insurance Slobodan taxes and Austin and was I think those are gonna level because they went all nutty last year I often can it get there a level there's no way the county can keep doing what they're doing. But those are generally fixed cost so it would be nice if we don't average monthly that the objective is to let this thing appreciate overtime paid on the mortgage keep the home in great shape it. It works herself you don't have to do nothing else deathly talk investment properties talking 1836 management. We take quick break or to pay its bills saw more shots and you see your loan officer. And more professional your consumer advocate for all central state of Jason subs will be right back. And your favorite shows keep up with the latest breaking news and more anytime you add top thirteen seven lead dot com sock thirteen seventy. The right choice. We'll stay radio Jason's style situation. Appreciate you guys spinning a little bit how much does on the your Sunday welcome all you. Folks tune in on iTunes. Folks that want to. Just subscribe to our podcast you can do you actually see. Just bought drugs since you're gonna search reel save radio Jason subs kicked and you just click on subscribe and when we post new shows on the come right to you also would be do little break out session so we'll be regional tour to different folks and doing little 34510 minute little segment some. The reaching out to to some of the hot areas. In our country and in also had some good conversations with some folks are tough. Got a lot of moving parts so looking looking forward that Tex lines open we got some questions come and am about to get to move right now to get your questions and fob. 5126409. 610. Also begun to question we'll talk anything more rules say give us a call on this that Tex on wall. Remain open for about an hour after hour show so do reach out to a son. That phone call you need to and we got more with Matt says 1836 management. Matt. And he's I've got a couple questions come in for you but before we get that Sean and it was a kind of weird giggle and during the break you give us that one story. Bad debts you've had just you. In the years you've been doing that semi what's that one thing you salt you know with some rancher in NL when your clients' properties that that she doesn't. Have been a part of you know I'm kind of proud to say that we haven't had too much has been ridiculous you know interventions the key now I do have a pet rhinoceros or grow else's ciller definitely notre. Ounces smuggling. You do it every I don't want anything and you have we also walked the properties freak. And there's a report back to so prevention is the key is less if lieutenants and placing you're not sure of that's a problem. So I did a lot of people get a property government and I are gonna get this thing at least quicken these people look honest and all the sudden they inject their IDs in check their background and got a lot of cat. Passion which makes it out or feel comfortable. And then those are the guys that you really look out for because or off the radar near their for a reason it's not because they're just to cash flush absolutely. In Dublin they gotta do real quick is to take a quick step out Sean tells little bit about them offer. Patent law firm hot closing offices protects American title on these guys they're great we small time refinance his purchases. Mornings late nights weekends if need be then got multiple locations they won't come to you on these guys are great they got in house attorneys are here any questions. Bomb there when my series ten years doing this love them bomb. I'm losing readers anything else and Gary Jim Macaulay got what I eerie and Shia Westlake. And our freedom great hills area so they got three locations. But is it also come to you. On their very flexible they're not of how companies can say we can't I don't think he can make or at least at least lives right I don't think I've ever heard that from them ever absolutely so they saw a news stay till six sure no problem will be here south death guys or anything like that Tim McCall they're great. Actually your mark being in all those guys highly recommended the deal. Ulcers assurance roofing. If you've got shingles in your yard you need to called him the church roofing. We get your contact with a 5126409610. They're doing for inspections so whether you're gonna Lister home. Or if you just wanna get your roof inspected meats are free inspection they hop up there say everything looks good they give you double thumbs up. He did costing money you're happy you're secure but tell you Chalmers thing I was talking Dan that you were about to see him here in a debit. You used Tonys and two others there's places in the Roos where you win but not not shingles off but. Yeah there's things he can use force damage it can let little things in. Most creatures and animals and I guess he got to imagination you talk around here Bob Dole's at all yes absolutely so it judicious review call. They've been great supporter of the show so we appreciate those guys and all the folks that we bring on reel save radio or or are vetted and and we make sure that we pay attention to those guys so yes we're we're your version of thought that the DL. Yeah there yeah I mean this guy has a good damn good job so keep that up art map back to you man. I mean we've got a problem I've got a question yeah yet personal. Wanna I wanna I wanna get through your perfect for yourself and say that so what would you say is either the most common reason or herb. Number twos seeing. As far as when you all need to joining evict somebody besides nonpayment of rent that they really. That's a good legacy that probably being the number one reason obviously you may pick and choose your battles and so if if somebody turns out and you know grandma moved and because her health is bad and manage they're really taking care of the place how how can we accommodate grandma got well regarded orchestra that's but I would say tenants damaging properties maliciously or nothing caramel. Would probably be the biggest problem because. Tenants and come to us and OK you caught me what I do make this right now starting right here you know how to Don and I'm day if they come to Ewing go let me say twelve reasons why. I shouldn't have to do this and by the way I'm not paying rent because you did something wrong and we're not gonna see you for mold this is just this past week by the way. And I'm gonna threaten you personally because of XYZ. And you know what it was nice talking to you and people lose their mind and I think that's one of the biggest challenges of the businesses we think it's business. But it so my lives and homes worth toner on both sides is so personal and so the customer service really comes into play. Why do we do you know I always joke to my buddies that are lawyers are really counselors they counseling people via although let's go attorney and counselor who are absolutely and so that's you know obviously were not licensed in that manner but we counsel people on to kind of how to act because. They get emotionally entangle you know this costs money your U says he says she's. We'll list go back to the paper aren't put it this is what's supposed to happen this is what's not this that we don't make the rules. Let's all come back to the table and figure that I and figure out but people get so keyed up emotional as their house and they do do damage and so we've got to Tenet right now. Dioner put him in place because you wanna pay us. To get to attend some place. So. She put him in place measure for about six months nine months at that point in time they damage the house so bad there's two insurance claims. And the house is still being flooded their Chirac holes everywhere because they can't find the problem ball lock box this drags out to the point were this week we go out there. And obviously we're not naming any names for any out of the week. We went out there two weeks ago I ended up personally walking to the house are blocking the house of one of my staff is always have to be able fervent. And the floor on the second floor was soaked with water they're running the shower and soaking the bathroom floor which was seeping through the first level. And they were saying it was a it was a shower leak while time. And so I'm I was able to literally put my hands in the water the rugs were so there is standing water in these guys are gone we didn't do. And I'm like. No problem but they I'm not argue what do you biologists say in front of the judges got photos and evidence and we'll go from there okay rule or maybe now we'll agree to madame we're not gonna sue you for the mold. You cause the mole in there are no mold if you know anything that was so it. I think malicious damage is probably the number one thing some people get that they they've got a great family they've got a great history that a great renal or ownership history good credit if somebody is a 720 consistent jobs. Is on the radar. Easily Greek people but you get a couple people in there because you get nervous the season passes you out immutable have got to get this thing filled and let's take a chance. In a bunch every time deathly. 1836 property management seat on the map right there what are your contract with a 5126409610. Or magic got to how we can contact with you. A main number five on two. 9944323. Erica. We yellow Bordeaux yes we got up another question is is there any difference on her. What size and now is he single family did you need a larger type. You know unit multi unit properties world's largest. Absolutely so while we've got a couple small apartment complex is usually larger complexes go with national a lot of and yet days they're really changed hands on a different place in the food chain so. It's kind of a different game you know Lincoln properties those guys on financial margins we do you have a couple smaller complexes were going to be on for another six complex as I think in October. Folks are coming to town from from out of state. And all campus housing. There is four complexes of those 26 units edition so we can certainly service does offside you don't need to pay some might be on site with those. Bigger challenge with investing in houses find somebody doesn't have deferred maintenance and Ted near Dallas or tenants that they just a warm bodies and yet in place because it looks good on the rent roll and then there's L the cap rate is 20% new. You look at the numbers you're like management doesn't cost twenty dollars a unit a month like that's a Malia I need to talk I had that investor from Mexico City. Come up and look at a hundred unit complex last month. And he sent me the numbers and I'm like I knew in Mexico City but I I can't talk to on the phone but we got a call now before you get on the plane did he you do not want this complex. He got a pier and looked at and was you know made the trip didn't mind say the I love those thirteen dollar drinks yeah. Fair enough for a guy goes your your right to place is a mass but that you know you just treatable honest just like you guys are cinema lending side just. The numbers speak for themselves you don't have to make any thing out if you put her on the table and took so it is it it's transparent cheesy yeah. Is Ernie here's a personal when I guess I deal with what is the win more responsibility. Let's say it's a multi unit for four plex right. And one neighbor is just obnoxious. Meanwhile it was a win or responsibility about dealing with that's a problem for flex its we have. If you do it and I don't recommend to now if you before plaques which is about 15100 a month in rent for our area you. You can get a reasonably good quality. A rancher I. I hate that I to judge I'm trying to judge people by money at all but you need somebody who has a stable income. I cares about their property everything when you get down to a certain price point while the style and sound bad but. There is a correlation between people paying 500 dollars a month in rent. Not having money to take care of the rest of the things in their life and a rotten couch ending up on the curb which no one claims is theirs. Yeah I mean you get these properties where there's an entire street before plex is with that client so yes without a doubt I got to jump. They're guys we gotta we gotta shut down there will get more next week with Matt 1836 property management Sean Finnegan. They're all mortgage guys with that C universe show we hope we help you here next rural state adventure if you got any questions on a time investment properties purchasing refinancing managing all that stuff let's go 5126409610. I'm Jason Stubbs is rural state radio we'll see you next week.
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