All Forum Posts by: Alfredo David

@Cameron Tope, thanks for mentioning www.hudhomestore.com . I'll be looking into it myself!

wow, great job at finding the deals and way to stay persistant on finding realtors and contractors! I look forward to hearing more success stories from you!!!

price that I am looking at for small multifamily is 250k and for a single family we are looking at 150. My focus for location is in west Houston, town specific I'm looking at Katy, Cypress, Tomball, and Spring

Hey welcome to the forums. I'm going to throw this out there as I haven't been too successful in finding a duplex for the right price. It may be worth it for you to include homes with accessory dwellings... in-law suites or garage apartments.

I'm currently looking in the single family Houston market however, I do have my eyes open to anything that pops up. Because the city is so big, I've focused my attention to Spring, Alief, Katy, and Cypress.

Thanks for the advice @Account Closed, you're right i do have some more stuff to look into. 

I am currently bouncing around to various banks in Houston to find rates, also checking in with some online banks to find the best interest rates. If I can find something under a 3.2% rate for 15 years we should be able to save a bit on our current rate. If we are unable to get a good amount of monthly savings we will continue with the current plan.

While i get my rates, she's checking as well to see what rates she will be approved for and asking about terms.

I'll be there. Looking forward to another great event!

@Kelly Andrus, if you aren't already go to the local meetups, i've been to a few and have noticed that there are typically about 3 realtors or wholesalers that show up. After you have met a few realtors make sure they add you to their mailing / call list. 

Best of luck on future investments.

Hello all! Great news, I've managed to convince my wife that it would be wise for us to begin investing in real estate. Today we are going to a few banks to in hopes to get approval letters and an idea for their interest rates, along with other small details.  This next property will be under her name so i need to make it as easy as possible; I keep our current home (future rental) only under my name.

Here's the goods; I owe $56k on my current loan and have approximately 110k in equity with about ten years left to pay off if. The current monthly mortgage is $1170 (includes escrow covering: insurance, county/MUD/school taxes), should be less after the changing the insurance to landlord /dwelling insurance. According to rentometer the average rent for similar properties in the area is $1300.

My wife doesn't want to refinance our current home because I can afford the mortgage on my salary and she is more than capable of paying for the second property. Question is should I do more to convince her to refinance the property or pay it off in 10 years or less?