All Forum Posts by: Julia Puig Jordan

Hello Brian, 

thank you so much for your detailed answer. Yes i do own the property free and clear. 

By another agent who had some experience i was told in Texas title company takes care for the lawyer part in the transaction for around 500$ to set up the mortgage part. A possible foreclosure would be around 2000 to 3000 $. I was surprised how affordable this is. He recommended a 20.000 to 30.000$ downpayment and a 8% interest rate. He said if buyers default foreclosure would be done after 60 days usually (delinquincy notice). He said to raise the sales price from 185.000$ to 200.000$. He said in Texas title gets transferred, what probably means i have to pay sales taxes right away, right? I would prefer title to not get transferred, should i do a option to buy in this case?

Thank you for your time Bryan!

i apologize, i meant owner financing. I deleted the content and started a new discussion. Yes of course i can do the comps etc, i just wonder how much i should ask initially, i have a buyer but they have only $ 10.000 in savings. i could give them a 1 year lease with option to buy after that term? That actually is not too much more compared to a regular double deposit (bad credit score) 

Thank you for your time!

Hello,

i have a property in Houston market up for sale or rent and think about adding owner financing as well.

The house value is $ 185.000.

How much would $ you recommend for downpayment, for expected appreciation ( this market appreciated 5 to 12 % last 3 years) , would you have different amounts for a 1 year, 2 year, 3 year financing? Would you recommend a lawyer? I am a real estate agent myself but have never done a owner financing and have heard it's not recommended to do them as a agent yourself.

Thank you for your recommendations,

Julia

.

I used . smart move and loved it, easy to read, easy to handle, very trustworthy, quick

Hello Bigger Pockets Fan's!

i am new to the forum but watch bigger pocket you tube since 2 years.

I have 5 properties, all single family homes, Houston area, 4 occupied (only 1 has a mortgage,80%), 1 i occupy myself (mortgage80%)

I am a real estate agent, single mom, running a small business that produces very good income of what i save about 60%. My properties cash flow well, the one with the mortgage only 200$ per month, of the cash out i bought our recent home, fitting my family situation better. 

I manage all properties myself so far and have very little issues, properties are kept in good conditions, tenants are happy with how i manage it. One tenant in 4.House Chapel Bend is a former friend, giving me lots of headache, i am waiting for the possibility to evict her, i neglected my due diligence, lesson learned. 

1. House Park Spring , 165.000$ 5 bed, 2000 sqft, converted garage appartment, rent 1600$ (lease just renewed 1 year) paid in full

2. House Maple Manor, 200.000$, 5 bed, 2400 sqft, rent 1650$ ( lease just renewed 1 year) paid in full

3. House Wisteria 235.000$ 4 bed, 2200 sqft, rent 1750, new tenant 1 year contract (80% mortgage just started last year, 5% interest, 30 years)

4. House Chapel Bend 3400 sqft , rent 2000$ , tenant 17 month lease, ends may 2020, caused demages and drama, waiting for reason to evict., house paid in full

5. House Latvia, occupied by me, 235.000$ (80% mortgage, just bought last year5,5 % interest, 30 years)

Questions: 

1. I'd like to grow to 50 doors in the next 5 years. I am looking into multi family as well but am more familiar so far with single family homes. I love Brrrr and think there must be smarter ways than conventional financing. 

2. I am thinking to sell 4. House Chapel bend, it's large and older, good condition , but neighborhood is changing, school district is getting really bad too. Or do i just put a .mortgage on it? In regular market it would rent for 2500$, i gave it cheaper as the tenant was my friend and in a divorce situation. The house still appreciated nicely. Not sure about .

3. i am thinking to cash out 1.House Park Spring and 2. House Maple manor to invest in new properties.

4. we have some low income areas where i could get houses for 1% rule. All my houses are blue collar middle class or up. So this might be more hassle with difficult tenants but good appreciation and better return. My life is already quite busy with properties, business, realtor and being a single mom. 

I am good on monthly cash flow, my goal is long term (15 years) wealth build. I love buy , fix and hold and can arrange that in my life style up to 3 properties a year. I am good with managing construction sides, male workers :D and negotiations, but would love a general manager as well. 

These are a lot of thoughts, i am looking for new input on how YOU GUYS would use what i got. 

Thank you for your support and input!!!