All Forum Posts by: Jennifer Hillberg

Hi,

I'm looking at a property (a duplex in disrepair). I can afford its asking price and the repairs needed with money I've saved up. I want to make other real estate investments after this one -- but I'm new at this, so I can only do one deal at a time (so, what I'm saying is that I don't mind that my money is tied up in one house).

Should I:

A) Get a loan and buy the house that way

B) Just finance the deal myself and then refinance later and get cash out (to invest in other projects)

C) Do something that I haven't thought of

Jennifer

our rentals are long term SFR -- but I must say that landlording from afar is only possible because
a) we have family or super good neighbors within 1 hour of the houses
b) we screen our tenants quite a bit

Long distance landlording isn't ideal - but its the best option for us right now. with one exception, we've had quality tenants who've rented long term. I keep the rent a little lower than competition when we advertise for tenants. That draws a lot of responses and allows us to be more picky.

here is the picture (if I can get it loaded right)

The front has brick now. they did a nice job except for leaving the driveway there. All of the houses in the neighborhood are similiar -- and they all have 2 car garages. I'll see if I can post a picture...

Hi -- can anyone give a ballpark estimate of the cost and issues involved with taking a room - that was once the garage but now a room - and turning it back into a garage? I'm looking at a house that the previous owner added a 4th bedroom by closing off the garage. Every house in the neighborhood has a 2 car garage and I really think the house needs the garage -even at the expense of the floor space.

thoughts?

jennifer

Hi - I'm in Wichita Falls, TX -- that's north of Dallas. My rentals are in the Northwest US -- they are profitable- and as the market over there goes up -- rent rates go up too -- so that helps.
Thanks for the tips on developing -- do you develop land in Hill Country?

Hi everyone --

I've been in real estate for a few years - have a few rental properties. My big dream/goal is to get into real estate development. I'd really love to start off with building, then selling a duplex or something like that - then someday doing much bigger projects. My family just moved to Texas and now that we're settled in - I'm ready to pursue my goal. Problem is that I don't know where to start and taking that first step is so nerve-racking! I hope I can find some good advice/mentorship in the residential development area here.

Jennifer

Hi - I was wondering if anyone uses RealtyTrac.com to make deals on foreclosed properties? Is it worth the monthly subscription? Does it acutally help?

Jennifer

I'm a newbie -- and maybe this is way out of my league, but need some advice. My friend has some valuable land right off the interstate in MN. Its on the exit and there is already a McDonalds, movie theater, and some strip malls. Developers are offering about $8-$10 per sqft (so about $10M-$13M) -- but they don't want to pay for anything until they actually have constructed the buildings and stuff. My friend and I were thinking that maybe WE could actually put a deal together...act as the developers ourselves. But neither of us has ANY clue where to start... where should we begin??????

Another good option (if you are near a mitary base) is Militarybyowner.com -- its used a lot by military folks. I posted a rental on it and it was rented within 3 days! plus, you can get the cheapest package (like $15.00) and just put "e-mail me for pictures" if you want.

Jennifer