All Forum Posts by: Frank Gamez

I'm an aspiring investor here in the Houston market and worked for NASA/Boeing as an Engineer. I would love to connect with fellow Investor/Engineers who live here in Houston. Possibly start a meetup?

Hey @Russell Brazil, I have a legitimate question and maybe your 17yrs of experience can help answer it. I do hear a lot of people say that the market has only crashed during 2008 and the 1920's depression but I researched the lowest unemployment rates the US has seen since the great depression and there are a number of instances that seems like the market has crashed. Here's a link to what I'm referring to, 

https://www.thebalance.com/the-history-of-recessions-in-the-united-states-3306011

I think we need to make it clear that yes, while the market had not crashed as hard as the Great Depression until the Great Recession of 2008, there have been a number of recessions between this period where the market did indeed dip. These smaller recessions were not all caused by the same factors that caused the recession of 2008 so why do we assume that it won't happen any time soon simply because we aren't seeing the same factors that caused the 2008 recession. There are a number of reasons that can cause a recession, thus bringing the housing market down with it. 

J Scott's podcast episode was #311. Just listened to it today. I'm on the same boat as you are man. I'm currently rehabbing my primary residence with an ARV of 165K. The plan is to sell it and hoard the cash till the crash gets here. I don't recommend everybody do this but I'm willing to suck it up and leave my comfortable home. Going back to your question, the numbers here in Houston just don't make sense right now. You have to go through hundreds of deals (off-market too) to find one good deal. Just two years ago, the MLS would get 3 or 4 great deals every week. Again, I'm going to hold off until I'm comfortable with the numbers.

@Nate Sanow Like I was talking with Jeff, if there's people flipping, then there's brrrr deals to be made. You should attend the meet-up this Wednesday in Montrose area of Houston. I found the meet up through BP. Just navigate to the Network Tab then click events. I think I searched Houston or something of that sort.

@Nate Sanow Have you invested in other markets?

@Jeff Wallace Thanks man! Wish you the best in your investing! Really appreciate your openness to my questions!

@Jeff Wallace The website may not be updated but what you have on there really jives with the mindset change that I'm going through. I've come to the realization, like many on this site and like yourself, that time is a non renewable resource. Like you're site says, "you cant buy more time". I thought that going to school, majoring in engineering and getting a good job was the way to go but a year into my job I found out that its not what I want to do for the rest of my life. Now, I'm gathering as much information to get myself out of here. I currently own my house and I'm rehabbing it myself after work and on weekends to take out a HELOC. I'll definitely check your Instagram out!

@Jeff Wallace That makes sense. You said the key is deal sourcing. I'm on the MLS everyday and a good safe deal comes by once every 3-5 weeks or so and immediately gets pounced on. Are you mostly getting off market homes? Also, checked out your projects on your website. Are those flips or a mixture of flips and rentals?

Thanks for elaborating @Jeff Wallace. Do flippers also run their offer through the .7 minus repairs equation? Also, would love to know where the gray matter name came from! lol breaking bad reference maybe?:)

@Chris Hadley @Nate Sanow Have you guys done any BRRRR deals in Houston? I was thinking it's been looking like a tight market, but just listened to an episode on BP where David Greene said "if there's flippers in your area, there's BRRRR deals too".