All Forum Posts by: Justin Robert

@Brian Lagman These are really 3 very different sub markets at the end of the day. I would encourage you to visit all 3 and you will see what I mean. Personally, all of my holds are in Bell County, specifically the Temple(ish) area. I would also be aware that low purchase price does not mean more cash flow. You probably know that you sound like an educated guy. Next time you come this way feel free to stop by my office in Temple. It is in the heart of the city and I am happy to give you my perspective. 

@Kevin Lechuga @Victor Olvera Do you guys attend a meetup at all now? My office is off of 57th St. I am happy to chat anytime. I am no mentor by any means - but we can usually all learn something from each other. 

@Pete Harper Prices on those 4 Plex units have really soared lately. Personally, I don't think it is a bubble as people are pushed out of the Austin market (both home buyers and investors). Temple can't currently keep up with demand on new builds. The few rentals I have in Bell County get gobbled up quickly. I don't have a ton of actual data to argue my position, so take it all with a grain of salt. I have lived here since late 2013 and been around the area since 2010. It has exploded. Farmland that has any potential to split into any form of "development" is getting listed at $40K-$50K an acre, it traded at 1/10th of that when I moved here. In terms of commuting from Temple to Austin, you may not see it but it is very common. I know multiple people who live in Temple and work up and down the I-35 corridor. For 6 years I commuted frequently to Austin from Temple for my job. It took me right at an hour to get from my front door to Mopac, not shabby at all. 

@Russell Brazil That's great! 

Killeen is a different animal. There is lots of turnover and lots of inventory (relatively speaking). I personally do not invest in any holds in Killeen, so I have a bit of a skewed opinion. That being said, I think we are starting to see that historic perception turn around as people can't afford to live in Austin and Killeen is in striking distance to commute. 

@Jason Holloway It depends. I have had situations where an overlay makes sense throughout, where a demo and replacement made sense, and where skim coating made sense. I would consider long term plans with the house, how prone your area is to soil movement, etc...

@Account Closed $8K sounds realistic on a house of that size assuming there is access and room to work. 

You can likely do a budget rehab including foundation work on a house of that square footage for $40K in South Texas. I just leveled and raised a 1,000 sq ft home in Central Texas for $6K. It took a crew of guys a Saturday to do it. This included new 4x6 beams and we raised the house a total of 8 inches to allow for access for the remodel and future crawlspace access. I will probably spend $55,000 on this home when all is said and done and will be pretty much totally new with the exception of things like siding, a few interior doors, etc...

Since this is your first go, $40k could spiral much higher if you aren't careful. Things like trim, doors, cabinets, etc... really add up once you get past the obvious major systems and mechanicals. 

Word of advice - don't trust any numbers from the wholesaler. I am not saying they are being dishonest on purposes but most don't have any idea on rehab costs. 

Best of luck! 

@Carl W. Find a new lawyer. $1000 HWH that was shaky at best and the advice is to sue? Thanks bonkers.

@Randall E Collins Now come on. Let’s all be honest. A W/S is 100% facilitating a Real Estate transaction. (Insert jargon about how you are selling a contract, not a property).

I’m not knocking the hustle and I’ve bought a few deals from them. Let’s call a spade a spade though, right?

Lost access = call attorney