Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jess Hewitt

Jess Hewitt has started 3 posts and replied 56 times.

Post: Great Painter in the greater Houston

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

There are so few really good painters who CAN work for investors.  I can't tell you how many jobs I have inspected and found that the painters "forgot" to paint above the door jambs and behind the hinges.   Masking, really?  Taking off smoke detectors, switch plates, door knobs - just takes too long.  Cut lines can be straight, you know there are so many reasons the lines are not straight.  I have two good painters and I dread it when they are not available for a job for me.  Just finished one using a new painter and the results were painful to see.  I think I used more painter's tape marking the touch ups than they used to mask anything.  I would like to know why your tenant is so good and I may also want his name, tell us.

Post: Newbie in Houston, Texas

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

Nice to meet you.  Connect with me and we can share ideas.

Post: First investment deal analysis (rental property)

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

I agree with @Steve Rozenberg about using property managers.  I learned from my mother that self management was a waste of her time.  I have always used pro property managers to manage all residential properties but I manage my commercial properties.  I use PM whose COMPANIES are registered with TREC (Tx real estate commission).  This is different than the broker being registered as all PM companies must be registered and that protects you the investor-owner.

Post: Cashflow in houston expected per $50,000 investment

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

Are you asking how to get a gross cash flow of $5k per month or net cash flow (profit)?  I expect a cap rate of more than 10% for any buy and hold properties.  I need a minimum monthly profit per property of $200.  If you are looking for 120% of your $60k back every year then you must concentrate on buying with as little cash down and employ financing partners.  That's what I do buying subject to properties and working with partners who finance deals 100% in return for a secured rate of return - the "Zero" down properties.  

Post: Need advice on a FSBO flip

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

I agree that you should use an agent to sell your house as they can plug you into MLS which is where the serious retail buyers shop. It's that simple. FSBO are for bargain hunters like us. If your agent can't provide professional photos then hire a pro yourself. First impressions are key and your house has to look better than anything else on MLS to get buyers to come to see the house. Staging is great when you have a house where the rooms are not well defined as staging emphasizes a room's purpose. I do not use staging when it is clear that the house has a living and dining room and all bedrooms. I also take great care to make sure everything works and looks good. I spend hundreds of dollars a year to get the best light bulbs for every fixture. My lighting guy helps me solve little lighting problems by helping me select the right kind of bulb and wattage. I use specialty bulbs like you find in many upscale restaurants and shops. I use incandescent to get a warm glow, LED in kitchens and garages, clear bulbs to get sparkle and use the old style yellow filament bulbs to highlight a great light fixture. I also light the house at night using timers so my house can be seen at dusk and evening and early morning. Proper lighting also helps with the pro photos as well.

While listed, I have my houses cleaned weekly as well as yard work performed regularly.  My crew puts in those perfect vacuum lines every week so the carpets look fresh.  I have windows professionally cleaned so the glisten.  I have the house, driveway, walkways, fences, decks and roof power washed to bring the materials to a common color - while my competition has gray fences - I bring mine back to a beautiful wood finish, my drives are one consistent color, etc.  My houses rent and sell quickly as there is just nothing wrong with them and they are always move-in ready.

Finally I tour the other houses for sale in the neighborhood to check competition and get ideas for better marketing.  Try some of these simple and inexpensive steps and you may have better luck.

Post: Advise on first rental purchase

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

For buy and hold properties I want to make at least $200/month after all expenses.  I think you taxes are high as I see 3.5%.  Hire a tax protest company on day 1 and get them the condition report so they can protest taxes.  You may also be able to save a lot of money by choosing your paint and carpet guys.   Try to stay under $2/sq ft for each, carpet and paint.  You have $135/month for maintenance and capex, I would buy a Home Warranty at about $60 per month and take out the capex as they will replace any major systems.

I think you have a good deal here.  You are using a lot of cash but if you have the opportunity to refinance as the market value creeps up then you can get some cash out at a later date.

Post: New Member (Houston, Texas)

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

Join an investment club and read everything written by Barney Zick.  Partner with experienced investors to learn.  

Post: Hi I am a wholesaler in the Houston Area!!!

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

PM me and I will sign up

Post: Newbie from Houston Texas

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

Welcome to Houston.

Post: My List Of Buyers

Jess HewittPosted
  • Rental Property Investor
  • Houston, TX
  • Posts 64
  • Votes 29

I buy 'Subject to" properties in just about all markets.  Get some training in how to buy these and add me to your list.