All Forum Posts by: Harry P

Wow, lot of invisible talent. Can't wait to meet you all. I am open for any new opportunities in RE. Trying to focus and up the game bit by buying/building 50-200 door MF's

This is what I had few years ago and I will repeat the same

1) Purchased 11 unit for $170K

2) Increased the value of the property by rehab, replace with better tenants

3) Had a gross revenue of over $5000 every month

4) Enjoyed the cash flow for 3 years

5) Sold the property for $400K (please feel free to calculate the return)

6) Invested the money back in a commercial land (approximately 12 acres)

7) I believe I can sell the land for $1.1M

I have moved to Austin, TX in 2014 from Boston, MA. Since then I don't look back. I am very passionate in RE and I believe I live in a vibrant and never stopping Austin market. I am looking forward to meet fellow passionate individuals/investors, may be setup some virtual meets and know each other, share the knowledge and have fun!! Anybody out there?

Software Engineer, hated working for corporate. Looked around for passion areas, have become RE Investor and since then I loved it. 

I agree with all of your comments. At the same time I can understand that all of you are highly competent. What is the chance that I find a competent agent? In my experience it is slim to none. I am sorry but that is the reality. I like people when they disagree with my opinions because I see them that they have the knowledge and competency hence they don't like to share the commission. I fully agree with them not sharing commission. Thank you for providing valuable comments.

Definitely agree with you on earning the commission provided the agent finds me a deal does all the analysis and etc. In this case I have done all the hard work and I think it is reasonable to ask for a split. If not possible, I understand.

Hi There,

I have located some properties in College Station, TX area and looking forward to buy them. Builder gives 3.5%. I am looking for agents who can share the commission. If interested, please provide the contact details. I appreciate your suggestions. Thank you.

Thank you for your reply. Have a good day.

Hi Investor gurus,

Hope your day is going well. I found a good deal on a 150 unit new construction the total cost of of the project is approximately 13M. 100% of the loan is sanctioned by HUD. Now the seller want to retire and want to sell the project. I am wondering whether I need to have any working capital to execute the project?
When I draw the money from HUD to pay for the land and the first phase of the project, do I need to pay the mortgage payments immediately or can I defer them until the project is completed and occupied?
However, the seller asking to show proof of funds for 1M before I put an offer. I have no issues showing the proof of funds but I can't use that money as working capital.

I appreciate any help. Thank you very much and have a good weekend.