All Forum Posts by: Dustin Mathenia

@Ray Trounday

It's not on a set year just until that 17k is paid off, something like 48.5 months. I think I will have a 3rd party handle the payment collection. I would never actually sell the note I'll take my cashflow :).

@Ray Trounday

This is interesting, I am actually creating a 0% note myself on a property I bought in Alabama off ebay like 5 years ago. I am selling it 2k down 350 a month for a total of 19k. Now I only paid 4k for the property and like 23$ a year in taxes . This is a great deal for me giving in 6 months I'll be free rolling. If I wanted to sell this 17k note I would assume I'd get 5k for it. Still would be a good profit and almost 100% roi. Problem is the house is probably only worth 5k right now. I'm hoping the buyer gets in there and starts to improve the house asap. Then I'd really be free rolling even if I had to foreclose!

@Brenda Whittaker

You have an interest only heloc? You cant have a mortgage that goes up without either not paying or borrowing more money? Especially after 20 years ? That sounds horrible !

@Brenda Whittaker

That's a tough spot to be in. I agree with the post above find a supplier of the material. Call them, the bigger the better ..not home depot or lowes . It won't be hard to find one, ask them for a trusted referral tell them you will be buying the material from them and just need the install. Ask for their best roofer that is licensed and bonded. 1 you're not paying an extra price for material 2.the contractor will be familiar with the company and their material. And 3 very unlikely they would refer you to a bad contractor because it will make them look bad.

On a side note if you really are sick of your OOS rental sell it to me! If you still want to cashflow sell it owner finance . No one calls their bank when the roof starts leaking lol.

@Yaldho Manoj

Like people have been saying very broad question. I would say you can cashflow in any city in the DFW. If cashflow is what you're after it's not hard to find. I bought a double wide in a lot in Keller for 40k cash I'm renting it for 1450 a month -560 for lot rent. That's good cashflow! But downsides no chance of appreciation. I can't leverage the property so my cash is just tied up. Upside there's a lot of park offered amenities a full time staff watching at least the exterior of the property. I planned on getting more but parks do not like investors! so not easy. If you go the normal route of trying to by SFR to brrrr that will be a little tricky looking on the mls like the other million investors here. You really need to get out there find your own deals. Get creative! I don't think in a 30 year timeline there are any bad deals inside the metro. I moved here 2 years ago and when I was watching the market then you could pick up 60k houses in Arlington, Desoto, grand prarie, all day! tons to chose from 2 years later.... good luck finding one for under 120! People say the markets cooling off or leveling out but I don't see it! My average DOM for my flips is 4 !

@Jay Hinrichs

@Jim K.

Yes ! Exactly maybe they are being half assed repaired. But if the money wasn't there the house would be abandoned in worse shape. Entire blocks would fall to ruin leaving the city to deal with the problem. Put an owner to that house and at bare minimum the property taxes are getting paid. The roads are getting paved and schools are getting their books etc. Not to mention the contractors are making their money repairing these homes, buying local materials and keeping the economy moving. If all investors quit in one day the economy would crash. The government could never supply enough affordable housing to make up for the void. That is why they give us such great tax benefits for buy and hold investments! They need us !

@Jonathan Greene

Shouldn't we just let them do this charity? For the country? They are supplying all the money, fixing up all the homes that the locals would never touch. It's making nice homes for nice families .

Yea they will lose some money but the lessons learned way ..more valuable? Lol

@Mary K.

I started using this app while driving for dollars called drive by REI soon to be profit drive .. click on the house saves it for you gives basic info like absentee owner, beds ,bath ,sq ft, last sold date.. and you can collect 100 or 1000 and they will mail them for you. You can pay to trace the owner and just call them ...haven't landed a deal with it but got on the phone with a guy who's house was boarded up he yelled "not for sale!" and hung up...counting it as a win lol! Also it's important to talk to anyone you drive by...neighbors, dog walkers, yard workers, whatever. I talked to a guy today cutting down a tree, he says "I know of an empty house 2 sisters are wanting to sell 60k ) which would be a GREAT deal in this area and all I said was I'm looking to buy a house to flip . People want help and everyone wants to be a flipper with all these HGTV shows..get out there and look, that's how you find a deal! Always look, always offer on every deal no matter what! Never let the deal die on your side of the table.

And remember everything is a deal at a certain price.

Also you can pay any price if you control the terms !

@Richard Osborne

I plan on selling the first few notes I creat. What do you look for when buying ?

@Sam Turgeon

Yea I get that but would still own paper when it comes to sfr. Eventually I will find a way to get forever cash. Maybe in storage units or a commercial building with triple net lease.