All Forum Posts by: Vijaianand Thirunageswaram

@Axel Norvell Good deal! I like your attitude and way you want to go at it.. 

I see many new investors in BP and other meetings, Real estate investment is attractive investment strategy and not short get rich game. Many wants to get in and quickly make money or make it happen. Actually it takes time.. it takes time to create network, it takes time to find your deals, it takes time to get moving...  Patience is key but keeping your momentum level during this time is more important than that..  Many give up half way or never find the deal they wanted because they stuck with analysis paralysis. You need someone to help you get through the hump. Find experienced investors to push you through with it..  Having coach or mentor who can be an agent or experienced investor is not bad idea. I know they are hard to come by but they are out there.  Sorry I was in preacher mode :-)

As per deals, you have to have your eyes all over not just one place. You also need people to work for you whether it;s realtor or wholesaler..  You can try your own luck by marketing for your deals. I thought about it many times and even have my picket sign which I put in anytime I got around my rentals. But I don't want to spend $10k to send post cards to get 10 leads and 1 may work out and don't have time..  I would rather pay $10k more to wholesaler if he finds good deal for me. I buy all my deals thru wholesaler and pocket listing or direct sellers thru grapevine.

Set your goal, get our funds ready, find your deal and make it happen... JUST DO IT!

Good Question and great inputs!  @Rusha Jayasuriya how you doing? You nailed it right on.. 

@Cody L. is right about the price point.

1% rule is the basic for every thing. But start looking at DSCR (Debit Service Credit ratio) and try to be close to 1.25. Many lenders see that number if you want have multiple properties and want to keep adding to your portfolio.

Also try to diversify with not rentals, also with Owner Financing deals.. It's another way to have long term passive income.  It's our exit strategy if we couldn't sell the flip property. 

$200 cashflow after all expenses is good but whether you going to include your capex as expense or part of cashflow is decision point. That can change the math. 

Our Strategy(my wife and me), we want to keep building our portfolio if it makes sense to buy and hold it long term. We don't really look for 75% ARV after all cost. We believe that GOLD and REAL ESTATE never lose value. As long your rent pays your mortgage and takes care of expenses, it's good long term investment with cheap money from lenders with so low interest rates.. That's how we look at it.. We have 5 rentals, 2 Owner finance and target to get 3 more rental this year.. with slow market lets hope for some great deals.

@Brad Tabor Do you mean Pier needed? $14k for 32 piers that's too much. As I tell my investors, In houston either foundation issue is already happened or yet to happen. It's unavoidable.  You should be worried about it. It depends on which are those piers needed. 

Guys, I got busy with deals and work... All well said... 

@Tony Castronovo  Hang in there man!!

@Dave Chapa rightly said.. I started telling the same thing to my clients... Cash is king... start saving for good times coming soon. 

Howdy Houston BP Investors,

It's been a while... Happy Friday!!  I know summer is getting heated up and almost ready for schools. 

I don't see a lot going in Houston Forum so want to spice it up by touching base and see we share whats' going on.

From my end, I see the Houston and market around it has been kinda of stagnant both sale and rental. As per the inventory, it's getting close to 4 months which is like showing way to recession number of 6 month inventory.  I have few of my flip properties in the market for few months without much luck. They are in good areas but still due to sales price being high on $250k range, they been sitting.. 

I continue to do some wholesaling and rentals but flips kinda of slowed down due to too much competition in market with more inventory. 

What are all others doing? How are you all working it out your deals?  Let's share and guide as usual. 

Vijai

Yes, market is slowing down and stagnant in many areas.. It's not the same as 2018. 

Hello Investors,

I have done the site visit last May before starting the project. Now I am doing finish project visit after completing the project.

I am opening up this opportunity investors to come and visit to get first hand experience about the Flip project turned out.

Place: Missouri City, TX

Date & Time: Sunday 7/14/2019  6:00 - 7:00 PM

All are welcome but I would like you to sign up eventbrite

https://www.eventbrite.com/e/investors-flip-project-final-walk-through-open-house-tickets-64992767116

@Tony McCargar Lake conroe has opportunities but not as compared to Galveston. If you can get cheap properties, then go ahead with STR or AirBNB otherwise it's not great and varies depending. But conroe itself is really getting lots of action and it's one of the top growing cities in US. So I would be surprised that lake conroe market to pick up near future..

In related to PM companies, try looking for good and small companies who put their time and effort to work between tenants and landlords and not charge nickel and dime. We have been property management specifically for smaller investors to promote real estate investment because many starting out investors really get burnt by managing themselves and regret their decision in real estate investing. We want to ease their worries and increase their investments interest. That;s our main goal.  Look for companies like that and not something which is for making money. 

@Andrew Shen I don't have warranties after first property which I tried for all these years. It's sham and never works when you really need it. 

Actually I am thinking about Property Care plans similar to medical HMO plans to the properties.. 

@Sam G. Houston is always a good place to flip. Is it good time? It's 61 dollar question. Market over all is decent but as you might know real estate is local. You cannot expect to flip and sell quick like in West U compared to other places. It depends on multiple factors, budget, plan, margin etc.,  As @Jeff Wallace was saying you need to plan and act accordingly.

I been flipping and have multiple projects in play now.. It's hard to find flip deal to start with but if u do find it and numbers seems to make sense, make sure you do good job on rehab and take right decision and right choices to make it work.

Good luck!