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All Forum Posts by: Chris Bounds

Chris Bounds has started 78 posts and replied 444 times.

Post: How Do You Compensate Your Acquisitions Manager / House Buyer?

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

@Steven Fiszer, how did your conference call go?

Post: Subject 2 Title Question in Houston

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

@Cory Boren, it's been a while since I did an sub2 deal, but I know you can always order an Abstract of Title to see the chain. There are title companies that will work with deals like that. I'm not sure if they offer title insurance on Sub2 deals, but they can assist with closing. Patten Law firm & Homeland Title are two local companies to check with (no affiliation).

Post: Howdy from N Houston

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

Welcome @Matt Wilcox- You're in the right place.

A 5 year retirement plan is possible, but you'll need an aggressive plan to get there.  You'll need (or have access to) a decent amount of cash for B&H.

Work backwards and determine how much income money you need monthly to live on.  Then estimate the cash flow from each property ($300-500 if you buy right in Houston).  Multiply that out to determine how many houses you will need.  Then spread the number of houses out for 5 years.

That is just a general plan so you'll want contingency plans as well.  Good luck!

Post: New REI from Houston, Texas

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

Welcoming @JEREMIAH SANTOS.  You're in the right place. 

Post: Katy,TX

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

Welcome to BP @Brandon Hardison. This is a great place to learn about REI and network with other investors.

There are a lot of local REI meetings in the Houston area. Most are free and good events. Get plugged in, talk to people at the events, and you'll get a feel for what it takes to get started and be successful.

Post: Real Estate Investing Rookie! HTX

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

You say flip for a down payment?  Are you referring to offering sellers financing?

Post: Houston Meetup - June 18, 2015

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

I should be there.

Post: Real Estate Investing Rookie! HTX

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

Welcome to BP @Silas Caporal.  Good luck with your first purchase.  What is your exit strategy?  Rental or flip?

Post: How Do You Compensate Your Acquisitions Manager / House Buyer?

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

@Jonathan Wilksand @Steven Fiszer - thanks for replying.

Basically what I'm thinking is, the more lines I have in the water the more fish I will catch.  I cannot field all of the calls and go to all of the appointments so by having a couple buyers will be good.

Steven, I was thinking 1099 as well.  Let me know how your call goes.  Good luck!

Post: How Do You Compensate Your Acquisitions Manager / House Buyer?

Chris BoundsPosted
  • Investor
  • Sugar Land, TX
  • Posts 468
  • Votes 194

With more leads coming in I am considering taking on an assistant.  My first thought is to hire a buyer to train, assist with marketing, visit properties, and make offers. 

If you have buyers on your team, how do you compensate them?  Commission only?  Base + commission?  Thanks for sharing!