All Forum Posts by: Camilo Rey

Good morning, 

A month ago I bought this property 7719 Antoine Dr, Houston Texas 77008. We already started the remodeling and the initial plan is to sell it, however, I am starting to think about keeping it and renting it. But I would like to hear some advice.

Purchase price $128k

Rehab:$30k

ARV: $199k

Monthly rent: $1.5k

Tks

Looking for someone to partner on this great deal in Houston, TX!

Asking Price: $37k

Rehab Estimate: $35k

ARV: $109k

If this deal interests you, let's negotiate a deal that will work for the both of us! Looking to close fast on this property. Do your own due diligence but from our analysis, this is lined up to be a great deal in a very rentable part of Houston. Thanks in advance!

2 Bed(s)

2 Full Bath(s)

1,068 Built Sqft.

6,300 Lot Sqft.

Single-Family

@Jonathan J. Miller 

Could you mention which options?

Hi @Tyler Shaulis  As it is going to be your first deal, I suggest you use a Hard Money company, they will use your credit score as the initial base.  For the future start creating relationships with people, so that they place their trust in you.

 In this BP page, you can find a list of some companies. 

https://www.biggerpockets.com/hardmoneylenders/tex...

Let me know if that help you.

 The topic is quite interesting, @James English thank you if you update us on your progress.

Merry Christmas.

@Rachel Lang   I believe that the market is not ready to sell the houses that were flooded, my best advice is to buy, fix and rent. But be careful with houses that have been flooded twice. I totally agree with @Will Stafford a deal is a deal. 

Welcome to BP.

@Account Closed Sorry I going to missed your event, but I will really interest to attend the next one. Keep me updated. 

@Alex Corral I'm agree with @Maxwell Lee

@Maxwell Lee

The fact that you have an income from the rent, this doesn't mean that they are paying the loan, or what happens when the property is empty, you have to continue paying. However, I agree that sometimes it is better to have security in the cash flow, although that faster pay in 15 years, it could be better to choose the 30 years because it allows you to cover unexpected expenses or that additional money can help you to invest in other properties.

@Jack Ropp  I think that paying the debt can be a bad move because the interests are quite low. However here in BP, you will find different opinions, the only one who knows what you should do is you. I say this because, if you are a person who does not know how to handle debts and is always above the budget, very probably the first solution is to pay the student fee. But if you have things under control and spend less than you earn and save, there would be no need to quickly pay off the debt. On the other hand, real estate will give you some financial freedom and if you do not feel comfortable in having an $ 8k debt, how will you do when you have to manage debts of $ 100k or $1M with higher rates. You will not be playing Monopoly, this is real life. Welcome to real estate.

@Tanner Carson  There is no perfect time to make your first investment. The time to leave the analytics behind and jump is when you take that first step and take the risk of learning with practice. Then leave your fears behind and jump.