All Forum Posts by: Jason Baehr

thanks for the quick replies! 

@Sandra - I was under the impression that the seller writes the contract. If that's not the case then I guess I'm good to go if the buyer has their own agent.

Hi all,

I have my first flip for sale on the market, FSBO. It's in Texas, and I am wondering if I can just use the TREC 1-4 single family home sales contract once I find a buyer? I'm not a real estate agent, but my understanding is I can still use this contract form, but I've also heard a rumor that it's not binding if not executed by a licensed agent?

Thanks!

Thanks everyone for the great input!

I'm currently closing on my first flip house. Its a 1350 sq ft single family home in the Houston area and needs mostly cosmetic work. My hard money lender requires I have homeowner insurance so I started by getting a quote from my agent for my primary residence policy. He is offering a "Vacant Property Quote" which covers 80% of the ARV (ARV is 130,000) for the dwelling and $300K liability, 3 month term and it is fully earned, for almost $800.

This is my first flip, but this seems pretty expensive to me for a 3 month policy. Can anyone let me know if I'm looking at the correct type of coverage for a flip, and can anyone in the Houston area comment on the cost? Thanks!

I'm currently closing on my first flip house. Its a 1350 sq ft single family home in the Houston area and needs mostly cosmetic work. My hard money lender requires I have homeowner insurance so I started by getting a quote from my agent for my primary residence policy. He is offering a "Vacant Property Quote" which covers 80% of the ARV (ARV is 130,000) for the dwelling and $300K liability, 3 month term and it is fully earned, for almost $800.

This is my first flip, but this seems pretty expensive to me for a 3 month policy. Can anyone let me know if I'm looking at the correct type of coverage for a flip, and can anyone in the Houston area comment on the cost? Thanks!

I'm currently closing on my first flip house. Its a 1350 sq ft single family home in the Houston area and needs mostly cosmetic work. My hard money lender requires I have homeowner insurance so I started by getting a quote from my agent for my primary residence policy. He is offering a "Vacant Property Quote" which covers 80% of the ARV (ARV is 130,000) for the dwelling and $300K liability, 3 month term and it is fully earned, for almost $800.

This is my first flip, but this seems pretty expensive to me for a 3 month policy. Can anyone let me know if I'm looking at the correct type of coverage for a flip, and can anyone in the Houston area comment on the cost? Thanks!

Hi all,

I'm pretty new to REI and have been reading quite a bit about contacting home owners who have been issued a notice of default. I'm curious how the sale would be made? I am not a real estate agent, would I need to get one involved, or is it just a matter coming to agreeable terms, scheduling a closing with a title company, and signing a contract?

Also, to understand the situation in full, is it common to have the seller show proof of taxes which have/have not been paid, back payments to the lender, etc? I assume as the buyer I would take on these delinquent payments so should factor that into the deal.

Thanks!

@Johnie Hopkins I am also looking for a general contractor recommendation in the Houston area (north houston). Have you been able to find one that you are happy with?

Hi all. Just getting started out looking for flip properties. I've been researching alot looking for ways to get started with little cash. I have about $50k available to me. It seems the trustee auctions at the courthouse is a good place to get a potentially good deal. Problem is, they require full cash payment on the spot so this seems to rule out hard money loans. Does anyone know if hard money lenders are open to working out loans contingent on a winning bid? Or, if was able to win one with the cash I have available will hard money lenders work out a loan for the rehab costs?

I'm just getting started in real estate investing and looking for my first property to flip. I tried contacting a few local real estate agents to assist in my property search but they don't seem too willing to help. Does anyone recommend an agent in the spring/cypress/woodlands/tomball area that can help me locate some potential investment flip properties?