All Forum Posts by: David Olson

@Jeremy Gengenbach how was the meeting last night? I was on a call with Singapore from 7 - 9 so I was unable to attend.

@Cody L. Makes total sense and yet I haven't even thought of that approach with flooded properties. 

@Benjamin Serven I think you fall within the 120%. I can't find a 130% payment standard. Maybe I'm wrong here?
http://hchatexas.org/housing-c...

@Benjamin Serven I'm in the same boat and looking into this as well. Depending upon the zip code you can definitely beat the 1% rule. Here is a heat map of zip codes for Harris County http://hchatexas.org/wp-conten...

You'll notice that the green and red areas are ideal. Those you can rent for 110% to 120% of the fair market rent. Here is a list of the zip codes that qualify for the 110% or 120% rule. http://hchatexas.org/wp-conten...

If I'm not mistaken it would break down like this:

@Adam D Rinehart I had no idea about the double occupancy requirement per bedroom. So a 3 bedroom needs to pull a family of 6?

@Jeremy Gengenbach I plan to attend but might be pulled into a teleconference at work tomorrow evening with our client in Singapore. Either way, I’d love to discuss the rehab or any other questions your might have.

@Jeremy Gengenbach we flipped a Harvey Flooded house in Katy last year. We had great success even though we blew our rehab budget. The project is on my profile. That being said I'm chomping at the bit for the next project to flip in Katy or Houston area for that matter.

@Ethan G. I will send you a PM. I live in Katy and would love to join. 

@Jeffrey Holst I would love to hear your story! Hopefully you wont mind telling it a second time when I travel that way in the near future. 

@Brenda Jean Adamson will do!! 

@Phillip Ballard I'm glad you created this post! It has brought some great discussion points. Are you planning a visit out to Chatt? Once I get enough people lined up to meet I will be booking my flight for a 4 day trip.  

@Luke Carl Any areas you would avoid?

@Phillip Ballard I plan to visit the cities I will be investing in with Chattanooga being one of them.

@Riley Kurtts do you see many 2-4 unit properties around that area? I'm not opposed to larger multi and ultimately that is my goal, but I don't wanna bit off more than I can chew on my first few deals out of state. From what I see parts of Highland Park, Orchard Knob, and Ridgedale are prime for flips. Especially along Bailey Ave and McCallie Ave. For the record, flips are not my long term plan but if the right opportunity presents itself I would snatch it up just to create more capital to buy my next rental.

Still looking for areas where rentals are the sweet spot.