All Forum Posts by: Gerardo Jasso III

Can you provide the details for the property? 

Im in touch with someone with a recently renovated 8-plex if you're interested feel free to PM for details

I have a fourplex in the downtown Houston area with huge upside potential. We are having flooring and sheetrock done at the end of the month for the bottom two units. The property is located next Universities (UH and TSU) and downtown area of Houston. Market rent is $850, great way to wait out the appreciation that will come to the area; as more of the Third Ward area becomes gentrified with new buildings and rehabbed properties being made.

You can check out the property here: https://www.har.com/homedetail...

TREC has wonderful agreements for rentals, when my buyers buy a property with me, I always give them the first rental in the house, and following rental agreements at a reduced rate! I believe BP also has rental agreements you can use as well however!

Marcellus, you're definitely on the right track in terms of investing, house-hacking in my opinion is the easiest way to start. Most of my client do the FHA route just because of the low cost needed to start the process. If you wish to cashflow the best chance would be the triplex and fourplex route, however keep in mind those have to pass the self-sufficiency test, where if fully leased out the property can technically pay for itself. Another big thing is to find an investor friendly lender, finding a good one can let you get rid of a lot of doubt through the process. Best of luck in your route!

The above two comments did a great job of letting you know about the self sufficiency test, as for letting them know about your partner you have two routes you can go through; you can requalify with your partner to potentially get a bigger loan and thus reach the self sufficiency test approval, or, what I had some clients do instead of going through the pre-approval process again,  you could stick with your loan approval and go for the property you have in mind, and let your partner know that you will write him into the deed, wish you the best of luck in your investment!

 It's always welcomed to start your own, a time and place with at least a two week notice provides a good turnout typically

Meeting people can often be scary or hard to find, there are a ton of Facebook groups trying to be a center for real estate investing, but honestly BiggerPockets has been my biggest resource in terms of finding people who share the same vision as I do. If you go to the Real Estate Classifieds and under that tab there is another called Real Estate Events & Meetups. There are usually monthly meetups where you can meet people from all sorts of experience who may share what you want to do. I've personally have attended a couple and have met some really great people that I know I can reach out to  with no hesitation and get the feedback I would like. You can also use this forum for certain topics and connect with them through personal messaging if you liked their insight and would like an elaboration. However, don't let that stop you from seeking personal connections in real time. I have acquired clients simply through talking to them in line or in a random coffee shop while I work. Most people don't know where the nearest investor is and he could just be right across the room from you. Wishing you the best!

Is this for a SFR or commercial, if is something like sheetrock handymen can do a great job for the most part. I would consider a general contractor however just to build a rapport with them for future investments and projects.

Is there a reason why you're trying to go seller-financed, often times they require a bigger deposit than some conventional and FHA loans