All Forum Posts by: Andres Osorno

Hello,

I am renting a house and have listed it on Zillow (not directly on MLS). I have been showing the property around, describing it to potential tentants, etc. I will also be reviewing applications, approving/declining tentants, drafting the rental agreement, etc. Today a potential tenant came in with an agent from Berkshire Hathaway realty, wondering if they were to apply and I select them, who would pay for their agent? I didn't post anywhere about any fees being paid to agents, one of the reasons I am doing all the legwork.

Any information/insight is very much appreciated. Thanks,

Thanks Chris. There are about 100 units in this condominium, not sure why the size matters. Other than the obvious 30yr fixed vs 20-25yr adjustable, any advantages/disadvantages of going single vs multiple loan?

Hi All,

I am looking at an opportunity to buy 5 units (condos) all for sale in the same transaction, and am looking what the best form of financing would be. Since they are individual units, I am not sure if they can be bundled into one loan of 5 (my guess is that one loan is more efficient than 5 individual loans), but not sure what the best loan type for this scenario would be. In can put up to 25% of the money upfront, any help is greatly appreciated.

Hi All,

I am looking at platforms like Crowdstreet in order to expand my RE portfolio. I currently own a 4plex and a SFH, and since deals in my area are not what they used to be (i am very numbers driven and disciplined), I started looking at passive investments as a different avenue for RE exposure.

From what I have read, investigating the principal (company) that is putting up the offer to invest in their project is one of the most important factors, along with making sure the information presented matches the investors' portfolio needs. How do you guys search or research the principal? Even if the numbers on paper look good, I think the person/people running the show are most important to help make the numbers a reality. Any help is greatly appreciated. 

 Currently I prefer the south west side of Houston (energy corridor, Beltway and Westpark area, 610, but am open to other deals as long as they make sense.

Thanks Alina,

Will definitely look at local brokers for now and expand my network. 

Hello,

I am interested in buying an off market property in my area, and am wondering how to structure several offers as I know the seller is open to cash, owner-financing (as long as it has a short term), or regular mortgage type close.

My target price is $265k, which I believe is more than fair as I purchased a property in the same area at a lower valuation some time back.

I was thinking of offering $260k cash. What should my offers look like for seller finance and regular mortgage? I would think the devil is in the details of the other terms, but how about:

$260k cash or,

$263k owner finance with 30 year amortization, 5% interest and 5 year term or,

$265k with 30% down and 70% bank finance. 

Do my numbers make sense (from 260k to 265k) based on the financing options and the seller's motivations? My ideal results would be Cash or Bank financing, as I dont know what the interest rates will look like in 5 years when I have to refinance. Insights are greatly appreciated!

Andres

Hello,

My name is Andres and I live in Houston. I love bigger pockets podcasts and the forums. I am interested in expanding my rentals (buy and hold) in the Houston area, mostly looking for small multifamily (2-10) properties. 

Wont be able to attend this one due to prior commitments, will try to stop by in the future.