All Forum Posts by: Leon O.

Those 3 things would maybe be a great convenience for you now as a home owner, but I do not believe that it will add any to your rental income in the future.

Example of Increasing Monthly Rent:

Converting a garage to extra rooms/ extra sqft would potentially ad value to the amount you can charge for rent.  One of my good friends that owns 13 rentals, does this conversion to each & everyone of his properties. Costs him about $2,000 and he makes about $200 more per month in rent per unit.  Money in the Bank! 

Man, I am missing out.  I'm going to download some of these tonight and see what all the ruckus is all about.

Diamond in the Rough!  Good Luck! I'm sure there's tons of potential.

I had a couple shots at hoarder type homes and I had to pass, could not see the floor and smelled dead animals.  Just wanted to share my experiences.

Leon

I would find the biggest, baddest wholesaler in your market and try to replicate what they do to find buyers.  

@Jerald Alford - I like that postlet.com suggestion, i will take a look at that when I am trying to sell my retail property FSBO. Thanks for that.

Just wanted to say welcome to Bigger Pockets all the way from TX! There is tons of material on this site, and I have learned a lot from everyone posting all over the nation.

Good Luck on your Investing.

Leon

Hi Greg,

Good to talk with Like-Minded individuals.  I own a couple rentals in Houston, TX.  If you have any questions about the Houston Market I may be able to give you some in-site to what I have seen.  

Seeing that you are in Illinois, are you investing there?  Hows the market?

Leon

Just a suggestion if you do not want to get in touch with an agent right away you can use the Har.com App and it will give you access to all the properties listed on MLS that an agent would be able to see. It should give you a broad picture of the prices of the homes that you are looking for in those areas.

Nw Houston/ Cy Fair/ Katy has seen tremendous price increases over the last year.  So in that 75k range even cash offer for a distressed house would be low.  If you are in a time crunch and you are looking for deals off and on market that you can buy right away, and close it quickly as well; I would suggest using a good local wholesaler. I have used one in the past that I can recommend if you would like the info and want to DM me.

Good luck on your home search, and Happy Hunting.

Leon

HUD homes are first available for a good amount of time ONLY for Owner Occupants. Eventually when the Gov realizes that a Home Occupant Owner would never possibly buy that turd in its current condition, they open it to Investor/ Cash Offers.

You can buy it at that point, and there is no seasoning.  Basically saying the same thing as these guys above. 

I have purchased over 20+ HUD homes in Houston, TX previously, and can say that in 2014 they have been overpriced and is slim pickings for Investors looking for deals. Good Luck!

Just got for it! Make it a calculated risk.  You are going to have to put out quite a bit of offers to get one accepted at the price that you want.  Once you get a few offers rejected you will realize that you will not be able to be so picky.

I suggest you try to find some off-market deals, as those are usually the best bang for your buck. 

I have a couple rentals, both off-market deals.  I just jumped on them, and they worked out beautifully! Good Luck, Happy House Hunting!

Had a good time at the last one in Midtown.  Looking forward to meeting up with you guys again. Let me know where!

Leon