All Forum Posts by: Hector Perez

Tom Goans

Thanks for the info. I agree with you 100%, if I am buying the property I definetly used an agent.

But, this is a property that I am trying to wholesale, so I was wondering if insurance can be estimated as I have estimated repairs and let the final buyer due their own diligence on the property

Your thoughts?

I have a rental lead and I am doing a cash flow analysis and would like to know if there is a quick way to estimate the insurance cost

I was going to estimate the annual insurance cost roughly 1% of the purchase price

I appreciate your feedback

Robert Sim

there are many clubs in Houston

The General meeting in Rich Club is the 1st Saturday of every month and the Wealth Club is meeting this Saturday July 27th.

there are other clubs as well that you can find in meetup.

Happy investing

Michael Quarles Thanks Michael for your quick response. Just two more questions,

1) What is a ZIP?
2)when you mentioned a combo pack, should I send yellow letters and PC at the same time or within a few weeks from each other.

Al Bunch Hey Al, good to see you again, It was nice meeting you last week. Looking forward for the next meetup

Hello BP friends

I am located in Houston and my major focus to get deals has been thru my website, but I will like to expand the amount of leads and diversify my marketing

I would like to start doing yellow letters/postcards and every door direct mail. I was able to obtain over 5000 contacts (Inheritance, probate, absentee owners - In State and out of State, free and clear properties, 2-4 units and 5-100 units apartments) But I am bit overwhelm with all these leads and don’t know where should I start

Any recommendations or Feedback is really appreciated

Stephen Brown

No problem, send me a private message (PM) and I give you the information of the person that can help you.

You can use local hard money lenders to finance the deal, and use your capital to pay for repairs and holding costs, or you can rollover the repairs in the hard money loan, but it will eat some of your profits. Send me a PM and I give you a few hard money lenders in the area to network

Private lenders on the other hand are individuals that can lend you money for the deal, but for this you have to build a relationship with them in a personal level. A great way to build that is to bring GREAT wholesale/rehab deals to local meetings and present them in front of the group. As an example Rich Club does a deal a minute once a month and in the Wealth Club meetings at the beginning of their monthly meetings they open the floor for deals to their members before the session starts.

Probably a most experience rehabber can expand this topic and give you hard numbers, but usually the average rehab profit for a house under $120,000 is $15K, and for a higher price range you may be looking at $30K+ or more

Stephen Brown

Hi There, welcome to Houston, my wife was in the Navy stationed in Norfolk, Virginia and now she is the face of our real estate business. Thanks for Serving

Below are my two cents

Local REIA and meetups groups in Houston that comes to mind

*Rich Club (local REAI)
*Wealth Club
*Real Acquisitions
*Northwest Houston Real Estate Investing (meetup)
*Houston Real Estate investing Association (meetup)

and many others that you can find out there

In those Clubs you can meet Realtors that understand how to work with investors. You dont want a realtor that their mayor focus is retail and you have to teach him what to do. If you want to ramp up your business, get someone with experience

Also, I have noticed from my own experience that investors dont like to give names of their contractors, because they want exclusivity and if they find a good one, they tend to keep them in secret.

If you PM, I can send you the info of a local guy that helped me in my rehab, and he has 20 yrs of experience doing so. He did a great job

Also, the market is so hot right now in Houston that inventory of homes is at its owest and we got many out-state buyers overpaying for homes in the MLS. On top of that may wholesalers are taking advantage of this and selling homes only to buy and hold investors who tend to pay more than a rehabber.

If you want to do a rehab with your own funds, the market for properties under $120,000 is extremelly saturated, because of the buy and hold investors overpaying for homes, but dont get me wrong, there still properties out there, but competition is high.

There is less competition if you start going with rehabs within $150,000-$400,000. but there are more risks, but higher profit. At this point you may need a Hard money lender or a private lender.

Another alternative is to start doing your own marketing and finding your own deals, instead of depending on the MLS.

Sorry for the long answer =), I hope I answer your question

Sam Craven

Congratulations in your Journey.

I am just starting in Houston and looking forward to hear more about your success. It is an inspiration to move forward

I met somebody from senna homes in an apartment investing class a few weeks ago. He was very excited for the company Growth.

Take care

In summary, they can't give you that much information, because is a public site, but the answers were very good. Their recommendation was to contact a trademark attorney and discuss this issue Offline, so the lawyer can send a letter back to them.

At the end it all depends if you want to take a costly legal battle to defend your point of view, which yoy may win, or just change the wording in the your website. And you have to ask to yourself How important is that phrase for my business in order to defend it

I am just starting in real estate and I have decided to change the wording in my website they have requested, even though it seems like a bullying tactic, rather than an actual trademark infringement, because the Phrase “We buy Ugly Houses” is trademark, but the word “Ugly House” by itself is not, and I have to make a decision, should I pay a Lawyer to defend my case or use that money for advertising, get more leads and grow my business.

http://www.avvo.com/legal-answers/trademark-question--we-buy-ugly-houses--1317885.html?post_answer_id=2648826&post_id=619852#answer_2648826?utm_source=notification&utm_medium=email&utm_content=question_legal&utm_campaign=comment_notify

Stephanie Dupuis

Thanks for the website. i will post the question in the site and re-post the answer in BP.

Keep you post it