All Forum Posts by: Cheri Lange

@Mike Reynolds  Thanks for your detailed reply.  

I contacted CenterPoint Energy last week before posting here.  The rep told me CP only offers insulation incentives in the State of Minnesota, and will eventually offer the same in Texas.  Understandably, sometimes one rep will tell you something completely different than another agent from the same company.  This may be the case here:   where you know of CP discounts on insulation that no one from CenterPoint Energy could tell me about  If so, I'd appreciate learning more from you, or you pointing me where to look.  I already searched CenterPoint's website.  

Because we have multiple older complexes in Houston that we will continue making energy-efficiency upgrades to (probably for years), I may still PM you about your contractor early next year ... after the contracts have been awarded.  

Does anyone know of rebates or incentives for adding blown insulation into attics of multifamily complexes of 200+ units or more in the State of Texas?   CenterPoint currently does not offer any.   I came across 'Texas PACE Authority' if anyone can offer feedback on this particular program. 

@Jaysen Medhurst, I have not.  Thanks for providing the active link. 

Does any know of rebates or incentives (not tax incentives) offered by CenterPoint Energy for adding blown insulation into attics of multifamily complexes of 200+ units or more?  

@Mike Reynolds, Thanks for your well wishes!  I just sent you an email regarding your mobile home park plans.  

@Patrick Sloan, very helpful information.  Thank you so much for weighing in!  

@Mike Reynolds,

Thanks for your reply.  Your question is valid and you're likely not the only one who may need clarification, so I appreciate you asking.  

Many private money lenders work full-time jobs and don't have time to find real estate deals. Regardless of whether retired or employed, PMLs look for alternative investment opportunities with hopes of earning a higher ROI. PMLs can be anyone, including contractors, who simply don't have time to find investment properties meeting the 70% rule. In my case, I have an investment property I want to purchase, but I don't have sufficient interest reserves for a hard money loan.

Two exit strategies: 1) fix and flip with an approximate $400,000 ARV, or 2) buy and hold, but keep the ARV low (because many homes in the neighborhood are being torn down and sold for lot value). I'm hoping to find a contractor who has cash to help fund the deal. And, by also serving as the contractor, would have a vested interest in flipping the property quickly to maximize both our ROIs.   Contractor could have first or second lien position, depending on what we both bring to the negotiation table.  Additionally, there's a lot of work that needs to be done to prep for rehab that would be more cost effective if done by someone else -- in this case, me. 

I hope this helps clarify.  If anyone sees problems with my strategy, any input is welcomed.  

Applying Bigger Pockets' "creative financing" thinking, has anyone ever successfully approached contractor(s) to secure private funding for fix and flip on investment property?

Applying Bigger Pockets' "creative financing" thinking, can anyone recommend a Houston-based contractor who offers private funding for both purchase and remodel of an investment property?   A contractor who is willing to put skin in the game, helping ensure 1) investment property will pass all inspections, 2) perform quality work on remodel, and 3) complete job with reasonable turnaround time?

I found an abandoned six-unit apartment complex that looks like an ideal rehab -- especially considering Houston needs additional rentals now more than pre-Harvey.  The owner of the building hasn't paid taxes on the property since 2002.  The property is scheduled for public auction in near future.  Any suggestions on trying to obtain property before being offered for public sell?  

I've thought about contacting owner directly, but because I'm new to investing, I don't want to risk blowing the opportunity with an uninformed approach.  Any suggestions would be appreciated.  

Any direction on how or where to find out if there may be other outstanding liens on the property would also be helpful to know, assuming there's a simple, cost-effective way to find out without having to perform title search.