All Forum Posts by: Jeff Richardson

We use Patten Law firm in Houston. 

I completely agree with @Peter M., it doesn't matter what the list price is, the only time that comes into the equation is figuring out the likelihood that your offer will be accepted. Deals are made when the seller values real estate less than the buyer. You may have a listing agent that prices the home a little above the market, but the seller is willing to jump on an offer much lower, if the property is causing them stress. 

@Andre Wilson Welcome to real estate investing and BP!

@Hattie Dizmond did a great job summing up those areas. I would also say that cash flow wise, I would want to stay below 200K and probably closer to 100K-150K where the majority of the rental demand is in DFW. 

I think 40% is acceptable, if you're concerned, you can always ask to pay for materials instead. 

Houston has great cash flow if you are looking at the right price points. We have 4 in the area that range from ARV of 104K-147K we have good tenants and they are in decent neighborhoods. I also think you'll need to find more sources for your deals, as the MLS is pretty competitive currently.

@Victor Adewunmi when I picked up my RE license I started part-time with my current broker, he actually recommends starting part-time. If you'd like his contact information, let me know.

I would say make sure you find a lender that knows real estate investing and what you plan to do, you don't need to move to portfolio financing until you hit 10 properties as both Fannie Mae and Freddie Mac will lend to borrowers up to 10 loans.

If you need a lender in Texas for future deals, I am a loan officer with Capital Concepts and we specialize in investor loans so we are very efficient with multifamily deals.  Let me know if I can be of service to you. 

Let's get your cash out for you so you can make that money work for you.  Contact me today.