All Forum Posts by: Alvaro Rodriguez

Has anyone invested in Mount Pleasant Texas or any other similar small town in Texas? Just looking for any insight, knowledge of small and investor-friendly banks in those towns, as well as any property management company. 

@Brandon Vukelich

Thank you so much for the feedback, I will do that. I would rather spend a few hundred dollars than use a contract incorrectly

Hello

I am a new wholesaler, and I am looking to understand how to properly set up the contract between the seller and I, and the contract between myself and the buyer. is there a template to follow? do I need a lawyer?

Thank you in advance

After going over the theory, I would like to jump with both feet and get going. I was wondering if anyone can help find the contract I would need for the seller, and the assignment contract I would need for the new buyer. Are these something I can just download from somewhere or I would need a lawyer? is there any other paperwork I would need?

@Nicholas Lohr

Thank you so much for the explanation and I can’t wait to have 14 units. I only have 2 now. I have a quick question. When you say the bank will lend you 70% what happens to the other 30%? Does it stay as equity?

@Jerel Ehlert

Thanks for the feedback. Basically it would be easier the create a document where she would have full right in case I die. But regardless if mom has 50% now or 100% when I die, this might affect her social security perhaps?

I also don’t want to create more hustle for her in case I pass. I want the process to be as easy as possible so she can either sell it or rent it right away.

Thank you

I own two houses in Texas, I am single with no kids. I only have my mother with me and I want to make sure someone gets these houses in case something happens to you.

Is it better to draft a document where she takes 100% ownership once I die? Or

Is it better to give her 50% ownership and if I die she can claim the other 50%?

Not sure what the process would be for her after I die for both cases.

Anything help is appreciated

Can anyone describe a case where this method would work? I’m a little confused on the part where the refinancing happen. How do you calculate if you want to cash out some of the equity?

Is it hard or expensive to install a water spout or a faucet in the front of the house if it doesn’t have one in order to plug a hose to water the front yard?

Also is it hard or expensive to install a fan/vent in a bathroom that doesn’t have one?

I am located in Houston texas if anyone knows of anyone.

Hello, I just bought my first investment property. $160k, mortgage monthly is $910 and rent is $1600, So close to $700 cashflow. So I don’t think it’s too bad for first deal.

I had to inquired some cost like cleaning and paint, etc. I have a lot of receipts and I want to make sure I keep track. Does anyone know a software to keep track of the expenses?

Also, any software I can use so my tenant can pay rent easily and I can also track it?

Thank you