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All Forum Posts by: Chris Bounds

Chris Bounds has started 81 posts and replied 448 times.

Post: Waco, TX COVID Market

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

I currently live in Houston, but Waco is my hometown. I have MLS access in both markets. Texas in general is still very strong with low inventory and high rents. Waco is not an exception to that.

Post: New Member Introduction

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

Welcome! It's a crazy, but fun business. Soak up education and seek mentors. Persistently evaluate how you can add more value to the marketplace and you'll do well.

Post: Wholesaling as a Licensed Agent

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

As an agent you can still act as principal in a transaction. Disclosure is key. Disclosure that you're an agent and that you're intention is to make a profit. 

The homes you're likely buying need work. Sellers already know that and that you're looking to make a profit. That's likely why they called you. 

Focus on helping them solve their problem the best way that works for them. Doing that, sometimes they'll be happy with you buying it. Other times they'll want to maximize their profit and put it on MLS. Either way, you'll benefit.

Post: Looking to flip my first home

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

Be careful when structuring a deal that way. What happens when the rehab schedule gets extended and the other party's costs go up, but yours didn't? That's when partnerships sour. Find an agreement where the financials are known, agreed on, and split appropriately. 

Post: Closed on first duplex and licensed in same week!

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

Congrats on both! 

Post: New to Real Estate. RE Agent or Wholesaler??

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

If you want to be a long-term professional in real estate I'd recommend getting licensed. It can only help you.

Post: Houston/College Station, TX : Multi-Family Investing

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

Getting out in front of investors? Do you mean private lenders to raise the capital? 

Side note: HMU if you pass on that deal.

Post: Private investors selling off portfolio

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

Consider working with another investor and possibly JV. It could be a good deal, but if you don't have the resources and/or capital to take it down then it is or can become a bad deal for you.

Post: Repair the HVAC or replace it?

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

When the repair gets to half the price of replacement, especially if it's old and will need replacement soon, I'd replace it.

Post: What's your best real estate deal EVER?

Chris Bounds Posted
  • Investor
  • Sugar Land, TX
  • Posts 471
  • Votes 194

Our best deals have always come from rentals using the Slow Flip Strategy, a variation of the BRRRR strategy.

The first and second deal we did using that strategy had a gross profit of $100,560 and $119,970.

This is now our primary investment strategy, moving away from scaling a flipping & wholesaling business.