All Forum Posts by: Daniel J.

Does anyone have good estimations on what CapEx looks like around here per month or annually?

I would be buying it to hold and rent, sorry I left out! I looked up the tax records and it's actually held by an investment LLC out in Cali. Which possibly then even gave me the idea seeing if they would be willing to owner finance.

I'm in the process of looking at a duplex plus a separate garage apt here in the Conroe area. Speaking with their agent I found out that the tenant in the apt has been there for 18 plus years. They are running year long leases. Obviously there are some pretty major pros and cons with a tenant who has been their that long. What are everyone's thoughts on that?

Also, the listing is incredibly vague, just that it's a duplex and garage apt, and they are all 2/1's. Should I be concerned it's that vague?

Thanks!

@Dhar Rawal Congratulations on a deal well done! It's always fantastic to hear of success stories that you had to get creative to make happen, especially in my market!

@Chris T. That was somewhat my feeling. So would you say then that typically I would need to reach out to the home owner and convince them to sell and get a sales price from them? I certainly don't mind doing the leg work, I also wouldn't want to lead anyone on if I didn't feel ready to close a deal without additional insight, but couldn't find anyone to do that.

Thanks!

Any thoughts?

It has been mentioned several places, including on the podcast, that one way to up the ante when you are looking for a mentor is to come with a deal in hand as a way to give them value for working with you. My question is are we talking a lead (i.e. I went out and did some driving for dollars and got some addresses that can be hunted down) or a firmish deal with numbers attached that just needs to be critiqued and finalized? 

Thanks,

Daniel

Should it be a big concern if a property has remained on the MLS for awhile, say more than a few months? I do realize price might be the contributing factor. I see some MF properties that could possibly work if you were able to talk the seller down in price, but at the same time have been on the market for 3 or 4 months or more. Sometimes they have even been listed for quite a bit longer then that.

Thanks,

Daniel

@Dane Price It's always nice to hear of things working out well! Have you been able to find a REI club in the Conroe area? I've only seen them in the Woodlands or in Houston.

@Michael Le Thanks for the welcome! I certainly do want to take action soon, though I have no desire to jump in rashly!

@Mark Nolan Thanks Mark!

Thanks for the info Jim!