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All Forum Posts by: Cody L.

Cody L. has started 35 posts and replied 3664 times.

Post: House Hacking is Hard

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468
Quote from @V.G Jason:
Quote from @Cody L.:
Quote from @V.G Jason:

Welcome to reality, 3rd ward Houston is not investable. Any "ward" in Houston should get some questions going, but majority of Houston based agents will push this ad nauseum especially the one's on here and have been the better part of the last 2 years. 3rd ward for MTRs, STRs, and travel nurses and 5th ward for fix & flips; but only an idiot would buy a 5th ward property without doing their diligence. They target OOS that have no idea what the 5th ward is really like, but on a map see it's proximity to downtown and think it's up next.

Think you should focus on a solid SFH for your family if you have some money you can put down, and worry about investing when you are in a position of strength. Spring Branch, meyerland are solid areas.


When I hear "near med center", I don't jump to "3rd ward". I have some nice properties near med center (my highest NOI property, on Brompton, is near med center. As are several of mine in the 'good' parts of 77004 (i.e. west of 288). Properties on Binz, Jackson, Wentworth, etc.)

THat said, I also have properties in 3rd ward (Truxillo), 5th ward (Wipprecht).  Even Montrose is one of the 'wards' depending on how strict you use the names (4th ward I think?)

Personally I'd suggest AGAINST areas like Spring Branch, Meyerland, etc.  I'd stick to midtown, montrose, museum district, etc.  

Third ward is generally UH and the med center. I know where you're properties are, at least that Brompton one, that's just at the borderline of south West U/Rice and into 3rd ward. You're solid, but go any more east or south or both and I'd avoid. I'm not touching Truxillo or the 5th ward ones, each to their own. I'm invested primarily in the heights & airline heights(e&w of 45), a little in midtown, little in acres homes, and a little in the camp logan area. Acres home stinks, but I'll swallow it till 2035 and see what shakes. 

 Spring Branch and Meyerland are where a lot of younger millennials are moving to for family formation, so the schools will get better. Memorial is already the cream of the crop public high school.  I know a ton, not a few but ton, moving to these two areas that are trying to start families and raise them in these two areas. And builders are slowly catching up with some new devs in these areas. 

If we are talking about better areas in general-- I'd say Camp logan, heights, piney point, West U, river oaks, and parts of Bellaire are the best. Then montrose and the museum district. But all these areas are much tougher to afford. 

Interesting commentary.  Thank you.  I'm curious how you know which Brompton property I have (if we've met, or talked outside of this site, I apologize for not recalling)

I, like you, don't love the areas you're talking about where some of my properties are located.  I have a ton in south east inner loop.  However, they also make a ton as I paid $20k-$30k/door.  So if it's buy a truxillo for $30k/door, and rent for $800, or pay $100k/door in Montrose and rent for $1000, it's an easy call.  In fact, there is a building on Truxillo across the street from my current Truxillo property.  I used to own that one as well but sold it.  I tried to buy it back recently but they wanted too much.  They got foreclosed rather than work something out. 

All of that said, as I've grown, I've started to stay away from bad areas.  I just don't need the cash flow.  Or rather, it's not as important.  Now I just want nicer properties in nicer areas even if the cap isn't as high.  But that's a luxury to be able to decide that's what you want as I couldn't have done that without the 'bad area' properties helping to get me to this spot. 

Post: Syndicate investment opportunity (Three Pillars Group) - Houston, TX apartment

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468

Interesting that there are no comments from people that know these guys.  Since I live Houston multifamily RE day in / day out, I just assume others know about and comment on our little niche. 

Post: STR Rental Arbitrage Greater Houston

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468

We have quite a few properties where we allow people to STR them. I don't want to post our URL as I don't want to come off as advertising, but I can message you. Almost all our stuff is in montrose, museum, med center, etc. Mostly 1-2 bed apartments but some homes.

Post: Arbor Realty Trust - Slumdog Milionaires?

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468

Nitya overpaid for most assets, but was saved by the market.  

When you pay $130k/door for something that should be $100k/door, you overpaid.  But when the market rockets up to $150k/door, you can escape death and look like a genius. 

Post: House Hacking is Hard

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468
Quote from @V.G Jason:

Welcome to reality, 3rd ward Houston is not investable. Any "ward" in Houston should get some questions going, but majority of Houston based agents will push this ad nauseum especially the one's on here and have been the better part of the last 2 years. 3rd ward for MTRs, STRs, and travel nurses and 5th ward for fix & flips; but only an idiot would buy a 5th ward property without doing their diligence. They target OOS that have no idea what the 5th ward is really like, but on a map see it's proximity to downtown and think it's up next.

Think you should focus on a solid SFH for your family if you have some money you can put down, and worry about investing when you are in a position of strength. Spring Branch, meyerland are solid areas.


When I hear "near med center", I don't jump to "3rd ward". I have some nice properties near med center (my highest NOI property, on Brompton, is near med center. As are several of mine in the 'good' parts of 77004 (i.e. west of 288). Properties on Binz, Jackson, Wentworth, etc.)

THat said, I also have properties in 3rd ward (Truxillo), 5th ward (Wipprecht).  Even Montrose is one of the 'wards' depending on how strict you use the names (4th ward I think?)

Personally I'd suggest AGAINST areas like Spring Branch, Meyerland, etc.  I'd stick to midtown, montrose, museum district, etc.  

Post: Pace Morby Mentorship

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468
Quote from @Jay Hinrichs:
Cody the point Ken is making is that in a straight Subject to title has Transferred to Buyer and then buyer makes payments.. Now if buyer fails to make payments it would be good for Buyer to deed it back to the original seller.  But in many cases that simply does not happen you get bad actors and they rip the rents ( because the loan is not in their name etc).  Been around a lot of that mainly on smaller SFR deals.  The other technique Ken is talking about is doing a wrap or in CA you have a really cool debt instrument called a All inclusive Deed of trust.. And if the buyer defaults The seller can foreclose and take title back.
Thanks.  On the deals I've done, if buyer doesn't make payments, seller can take it back.  I just assumed that would always be the way such a deal was papered.  Otherwise the seller takes on an enormous amount of risk since the 1st lien is in their name. 

Post: Pace Morby Mentorship

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468
Quote from @Account Closed:
Quote from @Cody L.:
Quote from @Tevin Gladney:

I'm getting Amway vibes... 

I can't lie, I'm interested in Subto Though. Anyone want to join memberships? Or find a way to creative finance the tuition some how?


 I was doing "subto" before it was a catchy topic for gurus.   You don't need a membership.  It's how I did many of my first deals.   It's not complex:   Say you find a house for $200k.   The owner owes $150k.  If you buy it, he'll walk with $50k (after paying off his loan).  Instead you offer him $50k and take over his note.  

There are a lot of different ways to do it.  You could do a loan with him for $150k.  So you pay him, he pays the note.  Or you pay the note directly.  Or in some cases you may pay him less than the $50k, do a loan with him for more than $150k, and pay him on the larger amount while he pays his lower amount to the bank.

But now matter how you structure there are a few risks.  The biggest (that people talk about) is 'due on sale'.  Which means if the main lender finds out the property has been sold, they can call the loan due.

Another thing people worry about is what if you don't pay the loan?   The seller is protected there by being able to take the property back if you don't pay (they'd obviously have to keep the loan current, but it would be their house and they'd keep whatever was put down)

I'm not making a case to do it or not.  What I am making a case for is if you want to do it, you don't have to pay some goofy guru scammer.  If I could do it with zero resources available to me, anyone else can. 

Your comment: "The seller is protected there by being able to take the property back if you don't pay"

Actually, you must be thinking of a different technique. In a Subject To, it's simply taking over payments. There is no Deed of Trust to use to force taking the property back.

In a Subject To, the seller has absolutely no protection.


I've always looked at 'sub to' = 'subject to' = 'subject to the existing first lien debt'.  So you're buying a property 'normally'.  It's just understood by the buyer, seller, title (and title will reflect) that the first lien isn't being paid off.   So not sure where we're disagreeing. 

Post: Pace Morby Mentorship

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468
Quote from @Tevin Gladney:

I'm getting Amway vibes... 

I can't lie, I'm interested in Subto Though. Anyone want to join memberships? Or find a way to creative finance the tuition some how?


 I was doing "subto" before it was a catchy topic for gurus.   You don't need a membership.  It's how I did many of my first deals.   It's not complex:   Say you find a house for $200k.   The owner owes $150k.  If you buy it, he'll walk with $50k (after paying off his loan).  Instead you offer him $50k and take over his note.  

There are a lot of different ways to do it.  You could do a loan with him for $150k.  So you pay him, he pays the note.  Or you pay the note directly.  Or in some cases you may pay him less than the $50k, do a loan with him for more than $150k, and pay him on the larger amount while he pays his lower amount to the bank.

But now matter how you structure there are a few risks.  The biggest (that people talk about) is 'due on sale'.  Which means if the main lender finds out the property has been sold, they can call the loan due.

Another thing people worry about is what if you don't pay the loan?   The seller is protected there by being able to take the property back if you don't pay (they'd obviously have to keep the loan current, but it would be their house and they'd keep whatever was put down)

I'm not making a case to do it or not.  What I am making a case for is if you want to do it, you don't have to pay some goofy guru scammer.  If I could do it with zero resources available to me, anyone else can. 

Post: Pace Morby Mentorship

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468
Quote from @Jay Hinrichs:
Quote from @Account Closed:
Quote from @Chris Seveney:
Quote from @Account Closed:
Quote from @Cody L.:
Quote from @Taylor Nelson:

Pace Morby's mentorship is a transformative experience that transcends traditional mentor-student dynamics. It feels like joining a close-knit family where collaboration and support are paramount. The wealth of information shared is nothing short of mind-expanding, covering diverse aspects of the subject matter.

What sets this mentorship apart is not just the depth of knowledge but the genuine camaraderie among members. It creates an environment where everyone is invested in each other's success. The mentorship provides practical insights, actionable strategies, and a roadmap to navigate the complexities of the field.

Every session feels like an invaluable masterclass, with Pace Morby's wealth of experience shining through. The mentorship doesn't just meet expectations; it exceeds them, making the investment not only worth every penny but also an indispensable part of one's professional growth. If you're seeking a mentorship that goes beyond conventional boundaries and offers a holistic, supportive community, Pace Morby's program is undoubtedly a game-changer.

Taylor Nelson


 LOL this reads like a hostage video.   Blink twice if you need someone to help you.

(always comes from new accounts / first post)

"LOL this reads like a hostage video. Blink twice if you need someone to help you."

@Cody L.: Good one.  Lol


 I saw in the facebook group this post... #transformative #invaluable. 

Next up: How to chew gum and walk at the same time.... IF anyone has the link for that training and the discount code, let me know please.   

Next up: How to chew gum and walk at the same time.  Heheh


its just chat GT or whatever they call it. My wife used it to write an add for one of my Tesla's I am selling ( new truck is here ) and it writes a decent add I have to say.

 I just got my truck!  I love it.   But we also have a "Y" and an "S".  I think I'm going to give my "S" to my operations manager and just keep the Y and the truck. 

Post: Pace Morby Mentorship

Cody L.Posted
  • Rental Property Investor
  • San Diego, Ca
  • Posts 3,803
  • Votes 4,468
Quote from @Taylor Nelson:

Pace Morby's mentorship is a transformative experience that transcends traditional mentor-student dynamics. It feels like joining a close-knit family where collaboration and support are paramount. The wealth of information shared is nothing short of mind-expanding, covering diverse aspects of the subject matter.

What sets this mentorship apart is not just the depth of knowledge but the genuine camaraderie among members. It creates an environment where everyone is invested in each other's success. The mentorship provides practical insights, actionable strategies, and a roadmap to navigate the complexities of the field.

Every session feels like an invaluable masterclass, with Pace Morby's wealth of experience shining through. The mentorship doesn't just meet expectations; it exceeds them, making the investment not only worth every penny but also an indispensable part of one's professional growth. If you're seeking a mentorship that goes beyond conventional boundaries and offers a holistic, supportive community, Pace Morby's program is undoubtedly a game-changer.

Taylor Nelson


 LOL this reads like a hostage video.   Blink twice if you need someone to help you.

(always comes from new accounts / first post)