All Forum Posts by: Emily Valenzuela

Thank you Nick! I sent you a connection request so that we can discuss this option further.

Hello Fellow BP members, 

I own a home in Texas with my husband that I lived in for a few years. It is worth about $360k-$390k depending on how you evaluate it. We have a VA loan on it with a very low interest rate and a balance of about $230k with an additional debt on the property of about $60k. I currently have it on the market to sell, however, I would much rather keep it if possible and rent it out under my LLC. It is in a stellar location and I think I can offer it for rent as a mid-term rental. Unfortunately, Texas does not allow for a cash out refinance loan which would give me the ability to pay off some debts and hang on to a little bit of cash to help during vacancy while I have 2 homes to pay for. Can anyone recommend any creative solutions that might allow me to keep my property and rent it out. Thank you in advance for your help!

I have been searching for vacant homes in my area that are on listed on the MLS, have been on the market for a while, and the owner has a lot of equity. Some of the homes are rent ready, and some need work. My next plan is to visit the properties and practice my investor skills by running numbers and doing rehab estimates using Bigger Pocket's tools. I will also be asking the listing agents if I can create 3D tours using my Matterport camera for my potential buyers (also to practice using my new camera). So far I have a list of over 80 properties. If there are any investors that are willing to sign a buyer's rep agreement and want to work with me please reach out. I would love to be able to write actual offers after doing all of my practice work. I am also able to do the same thing in the Killeen/Temple area if anyone is interested in that market.

I personally think Killeen is a great place to invest. If STR means short term rental, the market for that is rather saturated there. However, because the city has a few revolving doors (military base, VA hospital, colleges) I think it is a great place for Mid Term Rentals. I had a couple there myself. I was very pleased with my occupancy and cash flow. However, I recently decided to liquidate them and will be starting over. Not because it is not a good market, but because I was new when I started and didn't position myself as well as I could have both financially, as well as with the neighborhood I picked. Now I am looking forward to starting again with the experience I have gained.

Hello! I am a licensed REALTOR and newbie investor myself. I recently purchased a Matterport Pro camera. With this technology I can create a virtual tour of the property that allows you to view the property as if you are walking through it yourself only better! You can even measure items and spaces with a pretty fair degree of accuracy. These virtual tours can be used to evaluate a property, plan your project, collaborate with your team and get estimates from vendors without ever having to set foot on the property yourself.

To any investors. project managers, or general contractors out there investing or working on projects in and around the Austin Area or Killeen/Fort Hood markets in Texas I would like to offer my services. I will start at $250 for virtual tours on properties up-to 2000 sq.ft. Additional charges will be added for properties that are out of my area or larger than 2000 sq.ft.

As an added benefit, I am able to provide a current market analysis, or quick comparatives analysis with your photos free of charge :) 

Hello Miraka! 

I am a licensed REALTOR, Mortgage Loan Originator, and newbie investor myself in the state of Texas. I am for from the most experienced person on this platform, but I do have a bit of experience under my belt and excellent resources and networks at my disposal. If you are interested in taking on some projects or growing your portfolio in the great state of Texas I would be happy to work with you. Then we will both have an opportunity to prove our value and reliability :) 

The first question I would ask is if they have any experience working with investors. (When they say yes, ask them what type of investors, and how many they have worked with) 

It might also be a good idea to ask the agent what their process is or how they work with investors (agents with more experience will likely have figured out a different way of working with these types of clients as it is not economically efficient to work with them the same way as a "typical home buyer"

You will want to make sure the agent is a good resource for you so I would also ask the agent if they have any good lenders they can recommend for the particular strategy of investing you are trying to do. (If they only recommend traditional finance options- move on). Also ask if they know any good contractors or remodel companies that they recommend.

As to your last comment about considering this line of work and advice about providing value on the field I have 2 comments: 

First, perhaps consider working for/with an agent as a marketing assistant or something of the sort. This will give you access to their data systems and tools with out having to get licensed or have a bunch of restrictions placed upon you. It is ok and maybe even better if that agent does not necessarily work with investors. Then you can help this agent find solutions (or be the solution) for their customers that do not have a market ready home to sell. 

Secondly, if by bringing value to the field you meant the agents, then you will be a much better client for your agent if you have a clear picture of what you want. The more specific, clear, and focused you are on exactly what you want the better the agent will be able to serve you. The following are some questions I typically ask when an investor calls me looking for an investor friendly REALTOR:

What type of investor are you (Wholesale, Buy & Hold, etc)? 

What is the maximum you want to spend (this is for search parameters)? 

How do you plan to finance it? What kind of ROI are you looking for?

What type of real estate do you want to purchase (SFR, Multi-family, Mobile Home, etc)?

What are you looking for in a property (#of bedrooms, sq.ft, age of home, etc)

What area do you want to purchase in? 

What current processes do you have for finding properties and getting them under contract? 

Are you willing to sign a Buyers Representation Agreement if we decided to work together (if the agent sounds like they check all your boxes the answer should be yes :) 

I hope that answer was helpful! Please feel free to DM if you would like to discuss further or are interested in purchasing any investment properties in North or Central Texas. 

I agree with everything everyone else said. I would just add one thing. As an agent myself, I give my investor clients the option of writing something in the special provisions stating that they are only obligated to work with me exclusively on properties that I present to them via text or email or that they request my assistance on via text or email. That way if another agent brings them an off market deal, or they are able to find one for themselves I do not get in the way of that deal. I hope that helps, and I hope you find the right agent to fit your needs!