All Forum Posts by: Vijaianand Thirunageswaram

@Tony Castronovo That's would be neat project to develop and I thought about it for my upcoming lot which we purchased close to this site. But my wife is always about exit strategies. How do u get out? You have to have investor to sell it to get out and it might happen soon or takes times. So we decided against it and planned to do 3 SFH next each other and sell it immediately.

But my long term plan is to buy few acres and develop my own neighborhood. I know it's big task but you gotta to dream to reach the stars so atleast you will reach the sky right!!!

How you doing btw?

Howdy folks,

I am always excited to share with you all the projects and lesson learned. Recently, we are doing new build in the Acres Home area. It's slowly changing like other parts of Houston. There are lots of new houses popping up and people are willing to buy and move in to stay closer to city. 

As many of you know, I been doing flips for a while and going good but always had an eye out for new construction. New construction is much more fun and fulfillment and more importantly better margin. I been looking out for a right project and this lady just popped in our radar from nowhere. 

Yes, she was the listing agent for one of my property which my buyer purchased in Sugar land area. She was nice and she wanted to meet with me because she also invest in real estate. First I was wondering why is so interested to meet. It ended up I got more out of the meeting than her.  That proves the saying, "Leave no stone unturned". Always meet people and you will surely learn and get something out of it. 

We shared our passion and talked about our projects and she mentioned that she had done some new construction with the help of civil engineer cum contractor and budget wasn't too high. That' kinda of intrigued us (my wife was with me). We learned about her experience and she said will connect with him if next project pops up. 

Later that meeting, she arranged meeting with CE and we were talking about the next project. I was part of the 2 SFH houses he was planning to construct. We jumped on it with little bit of hesitation being not knowing each other. We closed the lot purchase on last day of last year, Dec 31st hoping for new year with new experience. After all the bad weather, we finally got something started out in March and now we are in framing stage. Project is delayed a month due to the weather but hope to finish it up by May and sell it as well.

I have witnessed new construction in the past for our homes but constructing new thing is always exciting and especially for business and hope to sell to a family is a great feeling.. I already got one more LOT not too far from this construction site and plan to replat and build 3 more houses starting in Jun-Jul if this all goes as per plan.

So "Never say NO" to anyone who really wants to meet and talk to you. You never know you might come out as a winner. I like to meet my mentees but time is always constraint. I do my best to try to meet if they really want to have personal conversation.  Lot more going on, helping out on Rehab/Flip Project for BP Member @Arun N in Tomball.   

@Arun N

@Misha K. I know what exactly you are talking about and all the answer above was not the one you are looking to hear atleast in Houston market. Houston market is really competitive with realtors rebating too much. That's why when someone calls me and bargains about commission too much, I would tell them to go find those who just take 

Being said that I am a Flat fee agent and do give rebate for the work buyers/sellers have put in on the deal. I don't recommend people to use Listing agent to see property and come back and use rebating agent to make offer.  That's unethical. Because of that, nowadays most of the listing agent won't show the houses to any leads. If they find out after that, it is big mess and been there many times as listing agent. People call me with lots of creative reasons to lure me to show the house and I am always upfront with them saying, if we ended finding that you are represented by other agent, we will only pay this percent. 

Anyway, as other says, agent should get paid for what they put in on the transaction and they might be by rebating you but seller agent shouldn't be victim of it. That's why my fee structures is like alcarte and if I show less houses, less offers, you get more rebate and vice versa.  

We have been doing property management services for the last 3 years with Single family and expanding our service to short term rentals in and around Houston area.  We are Flat Rate Realty company whether its our realtor service or property management services. 

Our Fees starts only from $175/month for $1000/month revenue making property going to $375/month for $2000 and $575/month for $3000 and so on..  Compare to many companies who charges 25% to do this type of service. 

We provide Marketing, Management and Managed Services to our client, tailor made to your need to increase your Return on Investment.  We work with cleaning crews to timely attend the properties and poise to provide great guest service. 

If you are an investor who is struggling to manage your rentals or looking to invest in short term rentals and worried about managing it, We can help.

Contact us at [email protected] or Text at 281-912-3112 and ask for Vijai

@Tushar P. You can find deals everywhere, you just have to keep looking.. It;s hard to find turnkey in off market. NO way, that's why it's off market. You might find properties which need little work and we work with investors to make it ready for them and put it for rent. MLS is good place to find turn key but you won't get deep discounts. I find pocket listing and sometimes off market properties comes through me via sellers and I send to my investor mentors/candidates.

@Shahriar Khan I know you are always looking but not many :-)  I totally agree with you on MF and SF current market condition. Sellers don't want to accept the slow down and correction. They think they can still sell like last year high prices. It's going to be tough..   

CASH always KING. No question about it. 

Howdy folks,

It's been really quite for last few weeks. I know there is lot of investors are either not certain about the market or looking at the right place.  But market surely slowed down a bit compared to last year, hoping to pick right back up in few weeks or so.  

As per general market, it has lot of inventory almost 4 months of inventory in many areas. Prices have gone up since last year but it won't sustain because less demand at this time. HAR still touting record number sales but its happening only certain local markets. I know Investors like you and me are not going to look in to MLS for deals but that will change soon in a year or so. Properties will be on the market for long and sellers want to get out and lose patience and start looking for avenues.. Get ready for it..

At this point, Deals are still out there, just need to look out more closely or get acquainted with right people to stay afloat. Also if you really want to build portfolio, you gotta do some hustling. Good deals won't stay long forever... That's the mistake many investors do, they wait long and lose out on it. 

Keep watching, educating and ready to move on deals.. 

Happy Spring!!

@Ryan Johnson What you said is absolutely right! 

OFF MARKET surely has slowed down a bit compared to last year but hope to pick up in couple months. Get ready for the ride!! There are deals to be made in MLS too but it just investors don't have patience and logic to make it work.

I do find MLS deals for my investor mentees but they just are stuck with the numbers and don't think about building portfolio and looking long term. That's the problem. OFF Market deals really need cash and hard money and there is surely competition and you gotta make decision quickly which also lags with investors. They take couple of days and how that time it's gone.

I don't think you will find many in Houston, may be couple. Good luck! 

@Chris Wiser I have been IT guy all my life for almost 23 years now. Last 13 years or so I been involved in Real estate. In 2006, I wanted to build my rental portfolio and started with it. I bought one in 2006 and later with babies and job changes, i only got my 2nd one in 2010. Later that, I got derailed and ended up investing in retail business and got burnt. I finally got back on track in 2017. Currently have 5 rentals, 2 OF and hope to add 3 more this year. I did 4 Flips last year and built my brokerage business. I jumped on to new builds this year partnering with CE. We have plans to scale and go to STR and Commercial as well. I was able to accomplish with the mix of cash and OPM.

It's doable but just need 3P's, Passion, Persistence and Perseverance.