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All Forum Posts by: Jose Reyes

Jose Reyes has started 6 posts and replied 15 times.

Post: Finding Deals For The Next House Flip

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1
Quote from @Jake Wiley:

Let everyone know what you are looking for.    Find a way to weave it into your conversations that you are looking for your next project.    Connect with wholesalers in your area, agents that specialize in investment-type properties, or do it themselves.   

If everyone you talk to knows you are looking for your next project and you get on the list of agents and wholesalers too, you will get to look at a lot of opportunities.   When the right one shows up, whip out the checkbook and put a deposit down while the other guys are scheduling appointments to get their partner in!   

Good luck.   

This means a lot, thank you for your advice!


Post: Finding Deals For The Next House Flip

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1
Quote from @Jerry Tello:

Hi Jose, there are multiple methods I like to use. But my favorite method is one my partners built. They hired a trianer who trains VAs to cold call homeowners. Once the VA gets a lead they send it right to us for follow up. This has been a great source of lead generation for us.

To taking opportunities 


 Thank you for the information it means a lot!

Post: Finding Deals For The Next House Flip

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1

Hello everyone, what is y’all’s primary strategy to find deals? I am just started out and would love to hear y’all’s expertise. Thank you in advance!

Post: Need Help With Financing

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1

Hello everyone, 

I got in contact with a seller that wants to downsize, he is currently in a wheelchair and is unable to keep maintenance on the house. He fully owns the property but does not want to owner finance, all cash only. He currently does not have the money to look for a new house it is to why he wants all cash. I do not have the funds to give the seller all cash, any ideas you might have? I plan on using it as a rental.

Thanks you!


Post: Potential Rental Property Deal? Thoughts?

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1

@Scott M. thank you for your feedback and knowledge. I agree with you, you never know what can happen in 5 years… it’s to why I structured the deal to be $500 monthly payments. The only reason I went with a 5 year balloon is because the seller is elderly and wants his money in a shorter amount of time. I did factor in the maintenance, cap ex, vacancy. I’m playing this very safe with this current market. If their are better ways to doing so I’ll gladly take suggestions, I’m still new to structuring deals.

Post: Potential Rental Property Deal? Thoughts?

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1

@Jon K. yes, it only requires cosmetic work maybe around $7k to match the current ARV. My long term goal was to reinvest that money into the down payment for more rentals and new construction homes. After selling new construction builds it will allow me to buy even more rentals. That's my strategy as of now but I do agree about refinancing.

Post: Potential Rental Property Deal? Thoughts?

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1

Hello everyone,

I got in contact with a homeowner that is retiring soon and wants to sell their current house (2130 sqft 4 bed 2.5 bath.) They will be moving toward the end of this year (2021) so they are very motivated to sell. The ARV of the house is around $250k and he is selling it to me for $190k. The seller will owner finance the house.

This is how I structured the deal…

- I will be giving a $10k down payment

- He will loan me $180k (with no interest)

-30 year amortization ($500 monthly payments) 

- 5 year balloon 

I plan on leasing the property for the next 4 years (that market rents for $1800) 

- since the monthly payments are $500, it will cash flow around $800 after all expenses 
- in the course of 4 years I will cash flow $38,400. 

On the 5th year, I plan to sell the property at ARV to pay off the the remaining principal

-since the tenants are paying the principal down slowly the loan of $180k will lower to $155k in 4 years 

-so if I can sell it for $250k, I will be making around $90k 

In the course of 5 years I can make around $130k. 

I am still new to creative financing so if I am missing something or doing something wrong please let me know. I am very interested into improving my skills.

Post: Title Company (Dallas, Tx)

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1

@Joe Funari thank you for your recommendations. I’m currently 21 and want to build wealth through real estate.

Post: Title Company (Dallas, Tx)

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1

@Alex Grosvenor thank you for your reply and your knowledge. I’m located in Duncanville, Tx I plan to look around my area just to get started.

I want to quit my day job and focus 100% in real estate.

Post: Title Company (Dallas, Tx)

Jose ReyesPosted
  • Contractor
  • Dallas, TX
  • Posts 17
  • Votes 1

Hello everyone,

I am a newbie wholesaler and I would like to know about some title companies that are investor friendly in the Dallas area. Also, what else do you look for in a title company? I would like to expand my knowledge in wholesaling and the steps required to start. 

Much thanks everyone!