All Forum Posts by: Aaron Bihl

Investment Info:

Single-family residence wholesale investment.

Purchase price: $175,000
Sale price: $200,000

This was an inherited house that I think came from a google ad. It was a little messy and like most of these took a lot longer than I would have liked.

Originally started talking to the family in August and it finally closed last week. There 5 heirs involved who all had to get on board.

I love the location and will likely regret not keeping it, but I don't do gut rehabs anymore.

How did you find this deal and how did you negotiate it?

Offmarket, I believe google ads. Maybe SEO

How did you finance this deal?

I didn't

How did you add value to the deal?

I got the squatter out

What was the outcome?

It was fine, at one point I thought I was going to have to take it down and evict the family member living there but thankfully was able to work something out with him.

Lessons learned? Challenges?

This is a fairly typical deal, it takes months to materialize. There are several heirs and some title stuff that needs to get cleared up. And then you add on a family member who has been living there for free and doesn't want to leave. At the end of the day I worked out an agreement to pay him to leave.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $175,000
Sale price: $200,000

I'm trying to be a better about posting some of the stuff we have going on. This was an inherited house that I think came from a google ad. It was a little messy and like most of these took a lot longer than I would have liked.

Originally started talking to the family in August and it finally closed last week. There 5 heirs involved who all had to get on board. There was also a family member who had been living there ever since the owner passed away, had to work out a cash for keys with him to get the place vacant.

I love the location, about a block or so off Saint Mary's strip. I'll likely regret not keeping this one, but I've decided I don't do full rehabs anymore. It made more sense to take a wholesale fee and keep on moving.

How did you find this deal and how did you negotiate it?

Offmarket, I believe google ads. Maybe SEO

How did you finance this deal?

I didn't

How did you add value to the deal?

I got the squatter out

What was the outcome?

It was fine, at one point I thought I was going to have to take it down and evict the family member living there but thankfully was able to work something out with him.

Lessons learned? Challenges?

This is a fairly typical deal, it takes months to materialize. There are several heirs and some title stuff that needs to get cleared up. And then you add on a family member who has been living there for free and doesn't want to leave. At the end of the day I worked out an agreement to pay him to leave.

It’s hard to get deals to cashflow here.  The property taxes are high can increase significantly year over year 

I have a handful of mobile homes/manufactured homes in the San Antonio, TX area. I wanted to see if anyone had recommendations for long term lenders for these. I've worked with a few DSCR lenders but none of them will touch mobile or manufactured homes. Hoping someone on here has some ideas. Appreciate the help!

I use Franks house leveling for pier and beam and risen foundation solutions for slab

If you want to shoot me some info, I can give you my thoughts on it.  Or at least let ya know if I know the contractor and if they're reputable.

I don’t think it really matters. If you’re good at what you do and treat people right it will take care of itself. 

At the same time when I started my homebuying business I had long hair and eventually cut it.  Both because I felt like it but it also just makes life a little easier being clean cut when I’m meeting sellers who think I’m some young kid most the time anyway. 

I agree with @Jordan Moorhead that they are different markets and I would want different agents for each area.  And making offers without an agent is kind of annoying.  Also, I'm sure you can find an agent that will take less commission but in my experience good agents won't do that.

As several other folks have said I think your best bet are smaller markets or more rural areas. I routinely buy deals that I can fully BRRRR but the rent part is always the toughest and with our high tax rates in San Antonio combined with our assessors approach seeing how much they can raise them each year, it's really tough for it make sense.

You get outside the city a little and the tax rates are lower and they are less aggressive with annual increases.  I also really like mobile homes for rentals.

I think the most valuable skill is the ability to find your own deals.