All Forum Posts by: Kale Stephens

Brandon Pierce thanks for the response, I plan on checking out the properties on Sunday. Maybe we can meet up or get in contact once I have had a chance to see the properties. Your contact info was hidden, can you message me your contact info?

@ Jordan Light thanks for the response! I was an agent in Abilene about 4 years ago. I live in Austin now, do you know anyone who may be interested in buying the properties if I whole sale them? They are located on Houston st by ACU. Pretty rough area, but may be a good deal for someone if my partner and I decide not to.

I met a guy who inherited 3 rental properties and 2 rent to own properties. His dad was a slum lord in Abilene, TX. These houses are all in rough shape, but seem like a great opportunity for some BRRR properties. The two properties that are rent to own have about 4 of the 8 years left on the note. The contract has a set monthly payment, and does not state what the interest rate on the note is. In this case It seems like I am buying the note, not the property, so I feel like my offer should be based on buying the remaining 4 years of the note. What percentage should I offer and how do I justify that to the seller? Thanks, Kale

New gated marina with 2 lake front lots.  Property currently has 24 boat slips each with storage units.  Seller is very motivated and open to creative financing.  Asking 1.675M Property located about an hour west of Austin TX in a town called Kingsland. To check out the virtual tour Click Here

Property currently does not have any restrictions and can be used for residential or commercial.

Omar Ruiz how much equity do you have in your personal home? I am not sure if this would work in your state, but something to consider. If you have 20% or more equity in your current home you may be able to do a home equity loan or sell your current home to get some working capital and then purchase a multi family where you can live and get started. Anything else that you can sell or refinance? Boats cars etc...? At least if you can get the first deal done w/o help you will have a little experience and build a resume.

John Vietmeyer I found some blinds at Lowes the other day that are cordless and comparable in price to the standard vertical. I actually bought them for my personal home because we have a new born and didn't want him to get tangled once he starts crawling. That may be a selling point for future tenants.

Sujith C. I am not as familiar with the economy in Taylor and Hutto, I just know from working with buyers it is north east Austin and much more affordable. Marble Falls is an interesting market. It is a small town that is about 45 min from Austin, but supports several small cities around it. It has a large population of retired people (who I hear make great tenants) and commuters that work in Austin. I'd be happy to show you what is on the market!

Hi BP, I have a question for creative marketing Realtors. I have a small marina (24 boat slips w/ storage units) that are on Lake LBJ. The developer recently found out that he has cancer and needs to get out from under the property and is not able to complete the project. At this stage from a boat slip rental perspective the cap rate is only about 5% but it could potentially be 12 lake front town home/ condo lots with two open water lots, it could be used for RV spots, or it could be a commercial bait shop/ lake front restaurant (currently there are no restrictions, property is in an un incorporated town). The problem is when I put it on the MLS or loop net someone just flipping through will overlook the potential when they see the low cap rate is. I guess my question is, "How do I market a properties potential?" Thanks in advance!

Hi Sujith, What part of Austin do you live in? Have you considered a more rural area that is outside of Austin instead of going to SA? I am a Realtor in Marble Falls about 45min west. There are some some lower prices duplexes in this area. I know Taylor and Hutto are also a little more Rural and less expensive, but not as far as SA (depending on what part of Austin you live in). Have you considered new construction?

@Chris M. How are you financing the property? From what you have said, it looks like the property is only worth $94k. If the condo won't appraise then the seller will have to reduce the price in order for a potential buyer to get financing. Also on the comparable property did the seller pay closing cost? My MLS stats will show if they did or not. Your MLS may also (Realtor can help with that). All that to say, I would offer the $94k and ask for closing cost and consider that a fair offer. If you offer more than it appraises for and seller will not reduce to appraised value you could lose option fees, inspection fees, and appraisal fees. Hope that helps and good luck!