All Forum Posts by: Boone Tyson

@Robert Johnson Unless I'm mistaken, there are only 1 or maybe 2 contractors locally with the necessary certifications to act as 203K contractors. I'm not sure who they are, but I know in the past, 203K was a more difficult program to utilize here due to that lack of potential folks to hire.

@Jake Soper That's cool! May give it a shot sometime!

@Polo Vazquez You're absolutely right. Texas is a great place to invest. I will say, the overall appreciation is stronger in many cities outside the valley. Whether that changes in coming years, who knows? But for now, it's a great place to invest. Purchase prices compared to rent are wonderful. We can still regularly hit our 1% rule on deals.

@Jackson Babcock That sounds really cool. Excited to hear how it goes. I have a friend raising money for MFH new construction

@Jackson Babcock That's great man! Good for you. That seems like a great market to invest in. Keep us posted on your acquisition. Are you raising money or just getting it done with the partners

FYI, got 2 calls today from mail. One threatening a lawsuit and the other wanting to sell!

@Jackson Babcock Good for you! What size units are you targeting primarily?

@Mike Martinez DM me your email and I'll send it to you.

@Jackson Babcock What market are you guys looking in? Will this be your first mutli?

@David Call Thanks for the input. Yes, I agree with everything you said. I think risk tolerance is one factor to take into consideration. I think another factor many people fail to consider is their own personal income and ability to sustain a downturn or other forms of turbulence. The more we can leverage other people's money, the more velocity ours often has, but it does come with inherent risks and each market will also be different. We are in a very stable market in South Texas that rarely has large swings up or down, but I imagine folks that live in other markets that have a tendency to be a little more "boom" or "bust" might want to maintain a lower LTV on their properties. There's a strategy that works no matter where you are.

@Polo Vazquez Thank you sir! I appreciate you taking the time to read it. I think its a great way for people to jump in with minimal risk or exposure so hopefully it helps someone.

@Charles Tucker Kimbrough Thank you for your service! Can't tell you how much we appreciate you.

I'n going to jump in and agree with @Erik W.. If after 4 months of submitting offers, we don't have some traction, I think we have a flaw somewhere in the system. You are an engineer, so you are probably a systems oriented guy. @Brandon Turner always references the deal funnel. Thats what we are trying to identify here.

In the last 4 months:

- How many offers have you made?

- What type of properties were those offers on?

- What/who did you use to present these offers to the sellers?

- Where did you identify the properties you were offering on? (MLS, preforeclosure list, wholesalers, etc...)

- What tools did you use to determine the offer price you presented and how did it relate to value and/or listed price if it was listed?

- How many offers at least got a response or counter offer?

- What other markets have you looked at investing in?

Once these have been answered, it should point us in the direction of the breakdown.