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All Forum Posts by: Shanequa J.

Shanequa J. has started 62 posts and replied 863 times.

Post: Plase help me decide - Exterior with photo

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

Maybe you can do the shutters and door the same color as the brick. Or if the brick color is too bold, paint the brick and the house a neutral color. P.S. Someone picks out all the items pertaining to design for me.

Post: 4 foreclosures on one block

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

What is an AITD?

Post: Stop Doing Business With BofA!

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296
Originally posted by Bryan Hancock:
A low rate of 5.3%?! That is pretty steep for rates right now. Wholesale conforming rates are 4.345% right now for 30-year money!

How is that rate steep for a new investor? Maybe in the future when I become a seasoned investor like you and can show more experience in maintaing rental property, I will qualify for the absolute rock bottom rate. But until then, I'm satisfied with my rate considering that I know some owner occupied buyers can't get that rate.

Post: Stop Doing Business With BofA!

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

I just got a mortgage loan with them. My loan officer was very nice and speedy. They gave me a low interest rate at 5.3%. I'm living under a rock also like Richard.

Post: Vendee Financing

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

The two main ones are a lender administration fee ($2500) and a VA funding fee(2.5% of the loan). For an investor, they will only pay 3% of the closing. It changed this year.

Post: Vendee Financing

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

Yes, VA Vendee is still available. The problem is that they have so many fees you have to pay at closing. But I guess it's worth it, since it's only 5% down.

Post: What are you other than a real estate investor?

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

I joined the Army for 6 years after high school. My job was a surgical tech. I got to see a lot of blood and guts. Currently working as a surgical tech and just graduated from nursing school.

Post: How much rent to charge?

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296
Originally posted by Tyler S.:
I only see tenant screening, mortgage rates, task manager, and find foreclosures

Here's how: Resources-Landlord tools and resources-Fair market rents.

Post: Where would you invest $12K?

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296
Originally posted by Curt Davis:
IF you purchased a home for $10k cash move in ready I would be scared of this investment as your rent will be lower then $500 per month. You will have more maintenance, theft and vacancy then you would ever want. This is not a smart move for a new investor. You would be setting yourself up to loose bad.

It sounds like you want to buy a home for cash flow buy and hold, not to resell. Use the money for a down payment on an average home that will rent for around $700 in the $35K range.

I agree. Where i'm located, if a turn-key house is bought for $30,000 or less, then it will cost so much money to maintain due to low rent, damages, vacancies, etc.

Post: How many.......

Shanequa J.Posted
  • Realtor
  • Houston, TX
  • Posts 916
  • Votes 296

I sent out 30 letters last month and received 2 calls. I targeted abandoned houses and owners that were late on their taxes. The letters were typed, but the envelopes were handwritten. I thought this would increase the chances of it being opened. Investors usually send out hundreds of mail per month; I have to work my way up to that amount.