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All Forum Posts by: Kale Stephens

Kale Stephens has started 8 posts and replied 27 times.

Post: Seguin / New Braunfels Manufacturing Industry Slow-Down

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5

@Alexis Schreier

I am a Broker, Investor, and Property manager in Marble Falls/ Horseshoe Bay. Several of my buyers have told me they consider NB and Canyon Lake area along with MF as places to purchase and I would guess that renters feel the same.

Both are areas where people can raise families or retire. The proximity to Austin/SA allows them to work from home and be central to family in other areas of TX. The economy is diverse and there are jobs available.

My biggest struggle has been finding deals that follow the 1% rule. I have had luck buying and holding a couple of years and then the deals work.

All that to say, I’ve had more luck with buy and hold, and that has been my strategy.

Let me know if I can help!

Kale

Post: How to Assign a deal to an FHA Loan

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5

@Christopher Phillips thanks for your help! I believe there is a 3% conventional program, do you know if it would work as a conventional loan?

Post: How to Assign a deal to an FHA Loan

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5

I am a Broker in Marble Falls, TX. I have a wholesaler that I work with who is going to assign a home (in surprisingly great condition) that he got under contract pre foreclosure to a my buyer who is a first time home buyer using a downpayment assistance program and an FHA loan. The lender is saying that FHA requires that the house be purchased from the owner, not an assignor. How do we write up the agreement so that the buyer purchases directly from the owner while still giving the assigner his fee and keeping FHA happy?

Thanks!

Kale 

Post: Investing in hill country around Austin and San Antonio

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5
Ross Marshall hi Ross, I live in Marble Falls. How does your week look? Let’s grab lunch

Post: Moving to Austin TX, need an advise from locals.

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5
Kate J. Welcome to Texas! You mentioned looking for investment and personal residence. I understand that work brings you to Austin, but what do you enjoy doing? I think proximity to job (assuming you have an office to go to) and convenience to the things you enjoy will dictate where you land. Let me know your thought, I’d be happy to help!

Post: Looking for Investor friendly real estate agent in Austin market

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5
Raj Janakarajan I am a Realtor and General Contractor. I’d like to hear more about your goals and see if we might be a good fit. I work primarily in the West Austin area. -Kale

Post: Offering owner financing. Yay or Nay?

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5

@Eileen Murray The times that I have had sellers do owner finance was on residential lots.  Typically land requires 20% down.  So the sellers could sell with less than 20% from buyers, when they are ready to build a home they refinance the lot into a construction loan and pay off the seller.  I have only done this a couple of times and the seller did due diligence on buyer (credit check, required income verifications, etc...) No foreclosures yet! The main thing is to ask why they need owner finance, there are plenty of legit reasons, just make sure it makes sense to you!

 I also purchased a house on a 3 year interest only balloon. The current tenant was on a fixed income with rent at half of the market value. This allowed me to honor the tenants contract w/o costing me monthly and still buy the house (w/ 0% down) at a good price for the seller. I will still owe $150k on the house at the end of the term, but the Austin area market is crazy and I project the house be valued at closer to $200k when the lease is up. This is just an example on why interest only may be attractive to your buyer. 

Post: Offering owner financing. Yay or Nay?

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5

I would ask why they need an owner finance?  If it's an issues where they need a year or two of employment before they can get traditional financing you could look at doing a balloon note for a couple of years with interest only payment or amortized over a certain number of year, but paid off sooner.  I am a Realtor in Austin and have had sellers do this. It has worked out really well.

Post: $1.8M 10 Lake Front Lot Package $600K below Appraised Value

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5

Property is offered by Greg Weber Realtors in Austin, TX.  I am listing this one for my uncle who is a developer and recently found out he has cancer and needs to get out from under this project. Each lot has one or more 20' covered boat slips with 4x8 locking storage units.  The idea was to build lakefront condos or townhomes.  Other ideas have been RV spaces (comps suggest $1800+ per month per space).  This is a unique opportunity because it is located on Lake LBJ which is a constant level lake and will not dry up during droughts.  Home sites are above the flood plane and sellers may be willing to hold a portion of the note depending on the terms.  The project is located in Kingsland, TX.  It is only about 5 minuets from hospitals, grocery story and restaurants, 30min from golf courses, and a little over an hour from north and south Austin. Please call or txt if interested. I have appraisals in hand along with photos and plat map.

 Thanks,

 Kale Stephens 512-550-3624 

Post: Question for Realtors on marketing multi use property.

Kale StephensPosted
  • Real Estate Broker
  • Marble Falls, TX
  • Posts 27
  • Votes 5
Patty Debruyne yes, it's on the Austin and Highland Lakes MLS address is 940 Euel Moore Dr. Kingsland. Sellers are motivated! Sorry I haven't been on BP for a while and just saw your post