All Forum Posts by: Kaci Hunter

Welcome to the group Francisco. I'm originally from West Texas. If you need knowledgeable experienced realtors in San Angelo, I'd highly recommend Ashley and Jacob Balderas. They have experience in both commercial and residential. Jacob's brother is a builder in the area as well. And if you need a loan, I'm a licensed mortgage broker working for The Mortgage Maniac here in Texas. We can do residential or commercial loans. Would love to help out you get started. 

Hey Tjimon,/

I agree that many investors avoid anything East of Avenue Q/Hwy 84. The property I bought is in the Heart of Lubbock and is about 1.5 miles from campus, or a 5 min. drive. The Heart of Lubbock has plenty of opportunity and potential, and needs more investors.  You can find plenty of affordable houses. Honestly within a 2 mile radius (focusing south and east of Texas Tech) there are plenty of possibilities.

We did a lot of the renovating ourselves. The main house was in pretty good shape, just needed some immediate upgrades. Moving 3 college girls in, I let them choose their paint colors (they all chose neutral greys).  I paid for the paint and they did the work. :)  As for the apartment, I hired a local contractor. Very affordable and worth it.

Two things Lubbock has working against it is the crime rate and the explosion of new housing on the southside, which doesn't motivate people to invest in the older parts. If the city could get these two things under control, this would be an investors paradise.  In the meantime, I'd just suggest adding security features and making sure your house is flashy enough to stand out. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $45,000

Bought a 3/1 bedroom with a 1/1 apartment in the back. Rent 2 of the rooms in the main house and the back apartment.

What made you interested in investing in this type of deal?

Well, I thought two of my children would be attending Texas Tech so I thought that situation would allow my son and daughter to have their own space and still have roommates pay the rent.

How did you find this deal and how did you negotiate it?

We looked at several duplexes, but they were either occupied or out of budget. Very limited inventory. My daughter found ithis house on Zillow. She and her bestie went and looked at it and sent me videos (we live 5 hours away). Offered lower than asking price and got it.

How did you finance this deal?

Conventional loan.

How did you add value to the deal?

We remodeled the unlivable apartment in the back.

What was the outcome?

My college daughter isn't paying rent. I do have the renters and my daughter pay their own utilities as that keeps them responsible and diligent about conserving energy.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Amanda Hallmark and Gold Financial

Hello fellow investors, I’m looking to purchase a duplex or a house that has a guest house/mother-in-law suite.  I have a son and daughter both moving to Lubbock to go to school.  Would like to be moved in no later than the beginning of July.  

Hello,

I currently have an LLC set up and my parents have loaned me money to get started in real estate investing here in Texas. Unfortunately, my credit is not the best due to high credit card debt, which I'm slowly paying down. My short-term goals in real estate is to make cash to pay off debt and to continue investing in real estate. I'm a teacher and I work as a group fitness instructor so I don't have a ton of free time.

Where would you start? Should I try the BRRR method? Is that even an option with bad credit? Should I flip houses? Wholesaling seems time consuming and I really know nothing about that. Experienced investors please advise.

@Bryan Hudspeth Who will you use to manage your AirBnB or will you be managing it yourself?  I have a property identified that I'd like to put on AirBnB, but live several hours away.

Thank you!

A house I'm interested in buying is 6 years behind on taxes. Additionally, when checking with the appraisal district, the deed says "warranty deed/vendor lien." What does this mean? I'm new at this and ignorant. Speak in laymen's' terms, but be detailed, please. Also, I'm not sure if I want to wholesale or fix and flip. So the typical formula is 70 % of ARV- repair costs, but how do you factor in back taxes and liens...?