All Forum Posts by: Amber Zelaya

Welcome to BP and wholesaling, @Paula Benavidez ! :)  Great words of wisdom, @Sandra N. ... thrilled to see fellow wholesaling ladies on BP!

My advice is to always work with integrity, do your due diligence, learn how to do your numbers correctly, and slowly but surely learn how to assign contracts using different strategies.  

Best of luck!

I just stumbled upon this...My husband and I would love to attend but are not available Wednesday!

@Mark S. I hope you all have a great meetup!  Please keep us posted on the next event :)

I agree with @Chelle Knijnenburg , great insight, @Mark S. , I also appreciate your response to this thread.  Corporate housing is not something I have really thought about and may be a good strategy for the right deal going forward.

Hi @Account Closed , I have lived in Dallas for the past 16 years and have not experienced the aforementioned "texas mentality/bigotry." What I can tell you is that Dallas is truly awesome! It is such a melting pot and I can't tell you how many people I have met here who have moved here from other states, cities, and countries etc. Not to mention, that most people have told me that despite all of places they have travelled and lived, Dallas is their favorite... Now I know this sounds too good to be true but I just thought I would share. My personal experience is that the cost of living is wonderful, it's a great place to do business, and it's a hot market for REI. Regarding small scale farming, I have no knowledge, but I will tell you community supported agriculture is big here, there are great local farmer's markets...so perhaps small scale farming is an option? Regarding the heat, August is the worst! However, I have adjusted to the heat through the years, and the beautiful spring/fall seasons along with the mild winters, make it all worthwhile to me. Best of luck on your endeavors!

Awesome @Steven King , congrats on becoming licensed!

I second @Derik S. 's question...I would like to know more about the market in Corpus.  My husband has family there, but I still haven't been to visit.

What a cordial welcome and such great advice from @Michael Lee ...do you have any recommendations on inspectors and general contractors?  By the way, I notice you are in Coppell...I would love to connect to a fellow Dallas-ite!

@Lisa Marie I just saw this after looking up comments on Dallas REIAs.  I totally agree with  @John Chapman , very well said..."unscrupulous and uneducated."

My husband and I attended a meeting a couple of weeks ago and felt it was a complete waste of time.  Needless to say we were extremely disappointed and have decided that the best way to expand our network is simply to continue doing deals.  Perhaps we will try visiting other groups in the area in the future, however I doubt that we will give the Galleria meeting another try.

@Todd Plambeck Those were my thoughts exactly and after talking to the homeowner again, it looks like that is the best option for them.  I am starting learn the difference of what a truly motivated seller is.  With my marketing campaign I realize that some people are simply curious, while others are truly distressed so to speak.

@William Powers Thanks a TON for such a detailed example.  I can't tell you how much I appreciate it!  Such a valid point regarding the opportunity to appreciate...thank you for pointing that out.  Awesome to hear about your 76 properties...and the fact you self manage.  That is truly a feat and very motivating!

@Mark Allen Thank you for your input as well!  I appreciate your advice...I have thought about getting my license and may seriously consider it one of these days.  In the same token, I don't mind referring unmotivated sellers to a realtor in my network.  Regarding the price, they were looking for around $265k which comps show to be retail price.

Dear BP family,

I received a lead from a middle-income neighborhood and I am trying to figure out the best strategy considering the following:

Empty-nesters tired of home owners dues every six months, have a few recreational toys they are tired of paying storage so they may want to move if the price is right.
158K is still owed on the home but has been assessed for 204K
Comps show that the ARV is 250K
We are overestimating that the repairs would be 20K max as it is only 9 years old, granite countertops, hardwood and porcelain tile floors in good condition, crown molding, etc.
4 bed/2 bath
2681 sqft
Built in 2007

We personally don't see this as a flip according to our numbers and while doing the numbers for a rental, it looks to be a negative cash flow…and that was without adding the HOA fees every six months.

We are trying to look in the best interest of both the investor and seller. There is 80K in equity and I know there has to be a strategy that would make this a win-win situation for both the investor and seller.

Any thoughts are greatly appreciated! 

Thanks a ton for your responses!  And very helpful, @MarkSpidell ... I was grateful to see your breakdown and the only thing I didn't think to consider was insurance.  Thank you for pointing that out!

Dear BP family,

I need your help! Here’s the situation:

Older couple wants to move out of state
80K is still owed on the home but has been assessed for 133K
Comps show that ARV is 158K
Repairs are about 20K

My calculations show that my MAO would be 87K, however, I don't believe the couple is motivated enough to accept the offer.

Is there another way to complete this deal? What kind of investor would be interested in this property? Or, should I simply refer the couple to a realtor?