All Forum Posts by: Account Closed

Hi David, welcome to Houston/Galveston.  If you don't mind me asking, why Galveston?  Is it because of a full time job that you have to move there?

I hear a great area is Baytown since it's near the port and growing a lot.  Another hot area right now is Pearland, which is not far from Galveston.  My opinion is that there's not much industry in Galveston, it's major economy is tourism, and it's not great tourism. That's just my 2 cents being a newbie but a 15 year resident.

Hope this helps some, and hope you get some good advice from more experienced investors here.

@Chris Fernandez

Welcome fellow archie to BP, have you checked out the BRRRR webinar on continuing purchasing properties?

@Sohail Ahmed Welcome as well! I'm an architect as well here in Houston also with 7 years experience in multifamily, learning about BRRRR investing. I highly recommend the webinars too.

I'm late to the conversation, but welcome!  I'm an architect as well in Houston with a lot of experience in multifamily design.  I'm just starting out in learning about real estate investing and planning to scale to development.  I see you're interested in design build.  Have you ever considered development since you're already in the real estate industry?  Especially with Dallas/FTW being the #1 market right now?

Hi Mario,

I'm in the same boat. I'm planning to scale from investor to developer in the next 3 years. I'm hoping to connect with more architects/investors on how we can add more value to this community aside from service fee income.  One idea I have is to find places we can add our advice/perspective in the forums that are helpful to others here.

My little soap box rant:  I get the feeling as architects we are the minority in the real estate world, though we essentially do real estate related work every day.  

Welcome to the community!

@J. Martin I quite new to market analysis, but this post may be of interest to you of analysis of some folks in Houston:  https://www.biggerpockets.com/forums/311/topics/36...

Oh wait, Kevin Wood already posted on this thread...

As I am working for the large apartment developers here in Houston, correct, there are about 40,000 new apartments coming on line by the end of this year.  But they are still projecting Houston as one of top 10 cities in the US for population growth.  Side note, they are projecting a lot of baby-boomers looking for new housing as well within the city, thus the developers are building tons of housing marketed toward seniors as well.  Hope this is helpful.

@Aravind Sri There is a wholesaler's event tomorrow night if you are interested near westchase area:

http://blog.realacquisitions.com/2016/10/real-acquisitions-houston-expert-wholesalers-panel-october-18th-2016/

@Michael Dang I used to work with MBCI in Houston on metal roof and panels for my projects, but it's been a while. You might be able to contact a sales rep there and they can point you to a local metal building builder.  Hope this helps.

Michael, thanks for your input.  That is a great point on partner documentation on the agreement.  Maybe one way to do buy and hold partnership is for the partners to agree together when to sell.  Probably a better way is to get together with an attorney to draft out the agreement.

Side question:  Have you seen any partnerships with more than 2 people?  Such as 2 equity partners and 1 partner without money in, but does most of the legwork?

Hi fellow BPers,

I was just on the Webinar on Duplexes to Fourplex that Brandon hosted, and a question was asked about starting on a deal with their own money. Brandon answered that they should not put all their money in and find a partner to start a BRRRR deal with. Then I got to thinking about some questions:

• What are the typical exit strategies with partners on a BRRRR deal or a rental deal?
• Is the partner just the initial capital and then they are out after refinancing (Private Money)?
• Or does the partner have equity in the property?  Then what happens after refinance? Does both parties have to stay in?

Let me know what your experience has been on BRRRR with partners, thanks!

Great webinar, I learned so much and am so motivated to do tons of analysis!