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All Forum Posts by: Wale Lawal

Wale Lawal has started 80 posts and replied 4050 times.

Post: REIA The Woodlands, Spring, Conroe, Willis, Montgomery, Magnolia

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243

@Priyanka Johri Is this a future event?

Post: What do I like, FLIP or New Construction?

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243
Originally posted by @Mark Sewell:

I think we all hear the comments by Brandon and David on the podcast, and we all know that it irritates them when new investors ask to have a cup of coffee and 'pick your brain'...  Instead, as they suggest, as a newer investor, if you are serious, you want to try to help add value to others.  I get that.

I also think it would be a mistake to underestimate the value of what some of these newbs can deliver.

I am very fortunate that a couple local people here in BP have reached out to me and I have been given an opportunity, as a beginner, to contribute in very small ways to what they are doing.  I've learned that way, and I feel gratitude towards those guys.  And I found them to be super humble.

You are on chapter 37 and I am still back on chapter 3 or 4.  We cannot compare my book to your book - I may never know what you know.  But man, I would hope that one day we could go have coffee.

BTW I just got off the phone with @Brian Alfaro.  We are working on a Saturday afternoon when his coffee shop is quiet and not busy.  I'll reach out. 

@Mark Sewell Very well said. We rise by lifting others. We are all on different chapters in life.

Post: What do I like, FLIP or New Construction?

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243

Good job @Vijaianand Thirunageswaram the margin on the New Construction is great. You said it all the location was very key to your success. On some Flips that does not go as you anticipated, how do you manage to keep your investors happy?

Thank you for all that you do.

Post: Houston investor looking to buy first rental home

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243
Originally posted by @Mike Morgan:

Hello @Axel Norvell,

I work for a local investment real estate company here in Houston, and we purchase 25-30 properties a month. After we close on them, we resell most of them to Local Real Estate Investors. We do not list our properties. We sell them to clients we have met and worked with in the past. If you are interested in learning more about what we do, I'd love to schedule an appointment. Feel free to PM me.  

Mike Morgan 


Hi @Mike Morgan I will like to learn more about your this. Kindly send me a PM

Thank you

Post: Houston investor looking to buy first rental home

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243
Originally posted by @Vijaianand Thirunageswaram:

Amen to @Mark Sewell. I truly agree about sending offer to MLS properties if you it is the house you want to own it for rental or flip. Last year March, there was property listed for sale in Missouri city for $110k and I saw the house and like the potential if I get it for $90k. I just shoot up the offer the same day, cash offer. You know what they accepted it. Reason, the property is owned by sisters, got it from their died mom. They just want to get out quick and don't care about high price. Cash deal attracted them and closed in 2 weeks. So you will never know the seller situation until you try and make an offer... You might be surprised with the outcome.. Just thought I throw it out there.

Very well said @Vijaianand Thirunageswaram but not everyone have the cash to make cash offer. 
Cash is king I agree, do you think the seller would still have accepted your $90k offer if it was not a cash purchase?

Thank you for your consistent thoughtful contributions to BP.

Post: My first property - what happened

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243
Originally posted by @Cody L.:
Originally posted by @Karen F.:

That magic term, "cashflow!  I wish you luck.  Tenants are often very hard on homes, even those who seem as if they would not be.  A home that cost you 417K (and probably more like 450K when you consider what you had to put into it).  Assuming that everything goes perfectly, and you never have to put a dime into it this year, you're going to make about 10K on it for the year.  That is a return of less than 2.5% with a LOT of risk.  Risk tenant won't pay.  Risk tenant will damage property.  Risk you would have to recondition it before sale.  Risk the house will drop in value.  Of course, there's also the potential that the house will rise in value = but to realize that gain, you've got to sell it, with likely costs of about 30K.  

This is why I HATE the term "cashflow".  Look instead at return on investment, effort, risk.    A property that costs ten million dollars, and cash flows 100 dollars a year, still has positive cash flow!

 "That is a return of less than 2.5% with a LOT of risk."

How are some of you, that should be so smart, making this assuming that he's all cash?  If he makes $10k/year, on a $450k home, he might be $80-100k into the deal.  Let's say he's $100k into the deal.  Well then he's 10% return.  Not bad.  And he has that $100k invested in 1/2 million of RE that, even if it increases at 2% a year, will add another 10% to his return.

It's like everyone wants to sh1t on other investors who actually pull the trigger and do something.  90% of the time it's people who haven't bought a thing.   It's like the crabs in a bucket analogy. 

Well said @Cody L. I could not agree less. People should be encourage to take action once the number make sense to them and it fits into their financial goal. 

Post: BP Collaborating & Winning Together - Success to share...

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243

That is a very good mindset and attitude for winning @Vijaianand Thirunageswaram I'm based in Houston and I am yet to do my first deal. 

I have some concerns I will need your help on. Please PM me so that we can see how we can work together. 

Thank you

Post: Investment Property In Houston

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243

From what i can understand @Saud Alduweesh need a consistent return on any Real Estate Investment preferably 8-12% ROI with hassle free. He also want all the financial and tax advantages that comes with owning a real estate property.

That is why his asking for recommendation on reliable builders, suitable locations, and property type. It also seems like he will not manage the property himself. Maybe he has a family member or long time business partner to manage it. 

@Saud Alduweesh I will strongly suggest you write a business plan that will clearly define your long and short term goals. Goals like your preferred ROI, What you can do and can not do, Risk Tolerance etc. You can do this with the help of an Experience Real Estate Investor/Adviser. There are so many ways to invest in Real Estate without any hassle, you just have to narrow down your niche and still to what you are comfortable doing

@Adriel Hsu has a valid point but without completely understanding his goals and fear/challenges, the advise may not be the best for him.

Goodluck  

Post: Turnkey investment in Houston Area: Texas Investor Homes

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243

Hello Guys,

Please, I need advice on this turn key company: Texas Investor Homes.

What can you say about the reputation of the company? The company claimed to be a total package company (i.e lending, property management, etc.)

Please feel free to suggest any reputable turnkey companies in the Houston market.

I am looking to buy a "build to rent" fourplex or triplex with owner-occupied. 

Thanks in advance.

Post: Advice From Members Around Midland/Odessa

Wale Lawal
Agent
#2 House Hacking Contributor
Posted
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
  • Posts 4,216
  • Votes 2,243

Hello Everyone,

I am a new investor with little experience, my niche is small multi-family rental property. I am looking to connect with an experienced investor within Midland/Odessa Area to learn more.

I am open to useful advice and suggestions to help me succeed in my real estate investment journey.

Please connect and send me a message. I am also open to local meetings.

Thank you