All Forum Posts by: Jeffrey D.

To echo what others have said, it sounds extremely dicey. Questionable legality, possible high interest rates, and if you use the eBay/PayPal method there will be a ton of fees.

If you have found an amazing deal that you must close on, why not try presenting it here? If it really is a good deal, you should have no problem finding people here to help with the money part. You may not be making as much splitting proceeds, but being in part of deal is better than being in no deal (or a super dicey deal).

Something else to perhaps consider is refinancing? This is extrapolating from the BRRRR method, where you get gains from rehabbing, then refinance at an appreciated/higher value to get some extra money back to use towards the down payment of the next project. In this case, you don't have increased value from rehab, but just appreciation from buying at a good time.

Unfortunately, I don't know enough about refinancing to tell you if this something that can be done in this particular situation. It probably depends on how much appreciation you've had. Hopefully someone that has experience with BRRRR can chime in.

I feel like option 2 is always the goal, IF you can find something better and worth your time/efforts. I agree, there is a supply glut in EaDo. Lots of land and room to build. Great area to live, but I think not that great to invest. It does has potential to appreciate, but it will be awhile. Low interests rates aren't helping the situation the right now

You have something decent right now, the question is whether you can find something better at the moment. And like you said, it's slim pickins' in Houston

AirBnB definitely has some potential, depending on the location. I live in EaDo, so lots of convention goers at the George R Brown. Mortgage + tax = $2400 for a 3/3.5 house. Rented out a room and got $600-$1100 a month. Can up increase during Rodeo, Final Four, Superbowl, any big event. We stopped about a year ago though, when my wife got pregnant.