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North Texas has lots of clay, which needs to remain moist in order to be stable, if it dries the foundation loses support. A term you may hear often is to water the foundation, in reality it is watering the soil around the perimeter of the foundation to keep it all moist and solid. In this video you see lots of evidence of a lack of maintenance including watering the lawn, which leads to cracked & dried clay which leads to foundation issues.

@@LuisCuevasRealtor Interesting, thanks for the info. 👍

And I'm sure the roof has competing ventilation (both a ridge and gable vent installed) due to the slightly curled shingles. Simply cover the gable vents from the interior of the attic to correct.

It’s not difficult to pick this home apart that is for sure, this is one of the more sloppy flips I have come across.

@@troyvogt546 I don’t recall the ventilation issue but I see roofs like this often. Many times it is the lack of ventilation and the shingles just get toasted from both sides then curl. So much deferred maintenance.

This property is certainly one example of just that.

I am all about a flipper making it work numbers-wise for them. However as an agent I am seeing a home that wants full retail price for a sub par condition home at best. Gotta look out for the buyer.

@@LuisCuevasRealtor Absolutely!

It is more of a mix of words, you are correct foundations themselves do not need to be watered. Instead the perimeter soil needs to be kept with some moisture and not let to be dry. Our area has clay and it needs to stay moist in order to keep its support for the home. When clay is allowed to dry, like in summer, it starts to crack and as a result the home loses support which leads to foundation issues. One of the ways to prevent this is to keep it moist by setting up a watering routine.

@@LuisCuevasRealtor Interesting. Where I’m from we’re required to dig down deep enough that it doesn’t matter. On a side note, I’d like to encourage you to look into getting residential building contractors license if you haven’t considered it. Some realtors in my area are doing that so they can build someone their dream home if they can’t find it for them. They just general contractor the jobs. It’s different project management skills. As an industry I think we need a larger supply of housing.

@@BC-vv3ot Thank you for the idea, I certainly agree more supply is critical. I would be interested to know those who are GC and some of the ins and outs for sure.

@@LuisCuevasRealtor I passed my state trade exam which will allow me to be a qualifying agent for the family business. It’s not that bad if you study a few nights a week 1-2 hours for about 6 months to a year. It’s mostly about being able to find stuff in the book. Management for construction is about relationships, holding people accountable, and following a schedule. Building simple duplexes for yourself is a good start. If you GC it yourself you can save a lot of money. I understand the appeal of having someone else deal with it. Anyway, may fortune be with you.

@@BC-vv3ot Locally in Tx a GC license does not exist or is not needed. Either way a good idea, I would want to shadow a GC or any trade for that matter to feel 100% competent. Believer in knowing the job before selling the job.

Haven’t heard that one before, pretty good.

Some of them are pretty insulting to potential buyers, the flippers don’t even try to hide it in many cases.

@@LuisCuevasRealtor Like those Florida Flippers on TikTok who German smeared a STONE fireplace and covered up mold leaking with PAINT.

Makeup on a pig, but it is still a pig.

@@LuisCuevasRealtor Agrees. The fact they went to a textured paint is also a huge red flag. Likely covering up another issue.

I would suggest you call them directly.

Correct, this is a good example of them just putting makeup on this home and hoping to sell it before the problems show through. But you can see right thru the makeup and see the problems they tried covering up... with shotty work at that.

This one was pure laziness, the poor quality was easy to see.

I call it lipstick, they put a lot of makeup on it to cover up all the baggage they haven’t addressed.

Can't argue with that.

This happens way too often, bad work or don't fix it correctly but want a premium for the home. As the markets change these guys start getting exposed more. As the agent I just point it out to my clients... if it is this bad on what we can see imagine what we can't see.

@@LuisCuevasRealtor your work is appreciated. I'm a first time buyer looking now and this is what freaks me out.

Get an inspection and work with an agent who looks for these things. A tip I give my clients is it is easy to go for the remodeled home because of the makeup they put on it, but I don't mind an oldie with no makeup because at least the condition is more honest. An oldie you can see more of the issues and at least know of them as opposed that has been textured and painted over but not fixed... like the one in this video. Good Luck! Reach out if I can help! @@MLI0369

The farmhouse look is still going strong as a trend and so the flippers know that. With that said it was fairly easy to pick out all the faults with this one. This is one of the easier ones. Feel free to reach out if I can be of assistance.

My parents old house has changed hands a few times, and the most recent buyers had the audacity to paint the perfectly good red brick white. Waste of paint, and it looks out of place since there is a cobblestone sidewalk.

Going up and down stairs is a pain point with two story homes.

Ralph it varies given the market. When they first took yhis strategy they were rather low and I certainly heard the complaints. That seems to have eased but I they are always adapting to the market.

You are right on the money, most people agree with you including me!

You are re than welcome 👍

Good point

Muy bien, se puede contact 214 783-0535

Couldn’t have said it better myself.

So typically you pay it once the property goes under contract. They will do an option period, which is like a due diligence time, essentially a time to inspect, request repairs and negotiate repairs. While they do that they ask you to pay the deposit and if you do not then they back out of the contract with the seller via the option period. Does that answer your question? Again I am in Texas.

@@LuisCuevasRealtor I’m in Texas too. Your answer is helpful, thank you. But I still have questions. Since the deposit acts as earnest money, if the tenant backs out before signing lease and paying deposit can the sale even begin without earnest money?

@@ctjperez59 There are two different agreements happening, the sale and the lease. The EM comes from HP regardless of the deposit being paid. The deposit is not EM, nor do they need it to satisfy their contract with the seller. The deposit is for the lease only. Essentially if the potential tenant isn’t paying the deposit, HP will cancel the sale.

@@LuisCuevasRealtor so essentially no risk to the buyer, HP?

@@ctjperez59 No risk? In what manner? What is your situation?

You should legal advice, I am not qualified to answer your question.

Why do you care if your wife got out of a lease from a landlord are you serious?

@@Mountainman524he’s most likely the abuser she was getting away from

Glad it was of help. Feel free to reach out with any questions.

I don’t believe your broker Hass to be affiliated with it but it wouldn’t hurt to just check with them to be safe. It would be a good idea to go through their presentation to show you how the program works before going out and using the program with a client.

Keep in mind my review is as an agent who represented a buyer who purchased a home from them. As far as selling to them directly, that is a different story.

@Mike G That depends on how long OfferPad has been the owner of the home. FHA has a 90 day flip rule, if the home has been owned by the seller for less than 90 days the FHA won’t finance. In most cases FHA is not available at first, however if the property sits on the market a while it may become FHA eligible. If you ask your agent you can find out the date it will become eligible. I hope this helps.

Thoughts?

Those are boxes used to hold keys for a property listing. When agents show a home they are allowed access to the keys by opening this lockbox.

Truth

To get in to the home or monthly payments? Getting in is roughly the $99 app fee and deposit is double the monthly rent. So if rent is $1k, deposit would be $2k. Purchasing depends on type of loan, but generally would be more. Does this help?

@@LuisCuevasRealtor thank you for the reply to my poorly worded question. Is the lessee building equity during this time? I would imagine the seller would have to charge a premium since he/she is assuming more risk.

@@TRAZ4004 Think of it just as a lease, so you get them to buy a house you like and you just lease. On top of that, they give you the opportunity to buy it if you want. Currently they offer to sell it to you at 5% over what they purchased it for, year over year. So if the property goes up in value by 8%, and you buy it at 5%, then you get it for under market value with equity going in. This specific property was eventually purchased by the client from Home Partners, and they had equity when they purchased because it appreciated more than the % HP offered it at. Make sense?

@@LuisCuevasRealtor Yes, thanks for the explanation. I figure this would be a good strategy if you can’t qualify for a loan immediately. I enjoy your channel, maybe do another vid on McMansions?

@@TRAZ4004 Correct, the program was essentially originally created to help those who were close to qualifying for a home but were not there yet. However there are many other ways to leverage the program for my clients benefit. 👍

Some call that a 1.5 story.

What ever best fits your needs 👍

Thanks Bobby! Yes Home Partners can be a good option for many different situations.

@@LuisCuevasRealtor Your welcome. Where are you located?

@@BobbyTerryRelocationAssistant My info is in the video description

Congratulations! Good luck!

How has it been for you 5 months later?

I am processing your refund as we speak.

Si es posible comprar con ITIN.

@@LuisCuevasRealtor y en que ciudad se encuentra me gustaria tener mas information

@@rosyiveth1 Dallas, Tx - tubiera que buscar alguien en CA.

Me puede lamar y le puedo aclarar.

No basements here in Dallas Texas area generally, so I can’t speak for that. Although a basement would be cool.

Se puede comunicar con migo para mas información.

They have gotten better, at least at this moment. Rents have been lowered than before and limits have come up. Have you decided on what to do?

My review was as a buyers agent representing a buyer who purchased one of their homes, which went well. Selling to them is a whole other ballpark.

No, I don't have any offices all over the country... I wish. Pathlight. Call HP customer service to ask about the maintenance scenario. Yes, I do have information that opposes the "RUMORS", with REAL WORLD experience all my clients have been satisfied and worked the program to their liking. Remember there are different ways this program can benefit you, you just have to look at your scenario. Reach out if I can be of assistance.

That stinks, I would ask for my money back. But I don’t have an answer on how to remove one.

Exactly

Glad you liked it!

When you sign a lease the tenant is just a tenant and the owner (HP) owns the home which makes them responsible for the overall maintenance.

They are really slack about maintenance and repairs.