All Forum Posts by: Vijaianand Thirunageswaram

@Richard W. We do manage properties for investors all over Houston in small scale especially for few BP Investors as well. We are flat fee management company as well. Check out our references in BP profile

@Huy Thai You are absolutely. In my 10+ years, I never seen a product without min. 20% down for investment properties without any fees. There are portfolio loans without 20% down but still it based on your appraisal and fees are high.. You gotta invest something to reap the rewards. Nobody is going to give you money free of cost. 

@Ryan Johnson BP dont allow to share info via forum. PM me and i will share it.

@Ryan Johnson That's too high closing cost and bit higher rate if you got last week. Last week rate was much better when my MLO quoted around 4-4.25% with $975 origination. You have to use right MLO who works with investors not all retail brokers are good in finding right investor lenders.

Ping me, I can refer to my broker who have all my rental properties and business insurance. She is great! She even got a permit bond for just $100 last week to get permit in Missouri City since my contractor don't have it.. 

@Daniel A. I have 5 rentals with rates ranging from 5% to 6.99% from different lenders. 5% is not bad rate but you can now gate around 4.5% last week it has gone up this week. I get updated rates because my wife is MLO. I am currently refi my 6.99% Portfolio lender visio to conventional and getting rates around 4% with credit as well. Because it's already rented and has cashflow I don't see a problem but will see how it goes.. I Had to be 3% prepayment penalty but I will make that up in a year by moving to 3% lower. 

It all depends on whether you are working with lender or MLO who knows the investors deals and get the better rates from right lender. 

I do get off market properties and got few last few months but couldnt able to jump on it due to my financial constraints. In Gavleston it's still scope for vacation rental depends on the location. 

Thanks @Tony Castronovo  I am grateful to be acquainted with good people from BP and love to pay it forward by sharing, shedding light and whatever I can. There is lot of money to be made and for every one to get piece of it !!  

For lenders and Contractors, please do not ping me or post here.. The purpose of my post is to share and educate investors to learn and grow together. I know you trying to sell your market, please share your expertise and people will find you.. Thanks!

It's almost end of August. We finally closed on our Flip property project in Tomball started in April 2019. I am so happy for my partner/investor who I collaborated for this project. On the another project, I was able to help another BP Investor to get his rental property rehabbed quickly and rented out in a week to start his investment journey. I am happy for him too..

@Arun N found me via BP and approached me to help him with acquisition of property via Auction in April of this year. He found property in xome Auction and I helped to check out and close on this property end of March 2019. We finalized on the rehab contract with my contractor and started job to do flip in April and completed in a month. We listed the property for sale in Apr 15, 2019 right on the target. We started bit high to judge the market and started getting more action when close market price range. We entered contract finally in Jul 30 and closed yesterday..  

Here are the numbers,

Acquisition Price: $145,000

Rehab cost: $42,000

Holding Cost: $5000

Sales Price: $244,400 

Sellers Contribution: 5%

Net Profit: $31,500

Duration: 5 months

That's great return with borrowed funds from HELOC. Congrats @Arun N.

On the other project, Jacob found property on the MLS and closed it beginning of the month. He wanted my help to rehab quickly and manage it. We took care of the rehab just below $5000 and listed and rented within a week. He is a new investor and I took care of the rehab and now managing the property so he can be on the ease and looking for next property.

By collaborating and doing the best what you can do, we can be winner and grow together. These projects are great example how BP has helped to collaborate and work together!!   Thanks BP!!