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All Forum Posts by: Karen Morgan

Karen Morgan has started 17 posts and replied 71 times.

Post: WHOLESALE: 13% cash-on-cash (CoC) for $50k in San Antonio, TX

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

Hi Ola - No, the property is no longer available.

Post: Killeen area Opportunity

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

Sorry...saw you listed $1-1.5k for rent.

Looks like you could flip and still get nice profit.  Maybe around $17k.  However, you do absolutely need to use realtor.

If you wholesale, I'd look for buy/hold investors.  

Hope that helps!

karen

Post: Killeen area Opportunity

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

Gotcha!  What is going rent price?

Post: Killeen area Opportunity

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

Hi @Mark Allen -

If $225k ARV is correct, then you could flip since it's about 40%ARV. However, you've got to sell w/ a realtor in the greater Killeen area, and it will take a few months. I recommend @Brian Adams for local realtor.

Does make me curious...$225k is very high for that area...

Good luck!!

And..if you want more greater Killeen properties, I have 5 under contract right now for wholesale buy/hold.  

Post: ZOHO CRM vs PODIO CRM your thoughts

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

@scott 

@Scott Costello - I love podio, and use it for multiple businesses.  Just curious to get your take on:

1. Globimail.  

2.  I really want to be able to send emails from Podio, Globiflow, and/or Globimail to multiple contacts in a specific app (i.e. my list of investors).  Have you had any success in connecting all the contact email info to the To: field in any of these emails?  Just seems like a major function of Podio is missing here...

Thanks in advance for your thoughts!

Post: 1.3 million, 8 properties later we ACHIEVED success!!!

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

Well done - congrats!  

Have you ever thought about doing a real estate course, or writing a book, specifically for military?  Your story is so inspirational, and you prove there are substantial rewards if you handle your military moves, loan options, etc. in a wise way.

Post: WHOLESALE: Texas Buy/Hold for $93k

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

Price includes my fee.  Buyer to pay all closing costs.

From Seller:

Rented now. $1000/mo. lease up in April.

2016: January...general maintenance done w/ tenant in home.

2015: new roof and back patio. redid laundry room. added recessed lighting in kitchen.

2014: remodeled both upstairs baths... tile, toilet tub. painted interior. new WH. Replaced problem windows. new tile in master bath. 1/2 of home is new sheetrock.

2013: new central air system (still under warranty)

REPAIRS NEEDED: replace exterior hardie siding & paint. it's original kitchen..might need update.

From Local Realtor:

2509 Huckleberry is in an interesting neighborhood. In the last year on the MLS I can see three flips in that neighborhood, so it is a great area for flipping and selling a wholesale, I would expect.

That said, it is an awkward home. Far larger than any other in the neighborhood because of what looks like a converted garage (checking out Google Maps - I hope I'm looking at the right property).

$99,900 is what I would list it if it were remodeled well inside, though more generally speaking the lack of a garage gives me pause. That is going to turn off a segment of the buyer pool and maybe mean it sits on the market a little longer. Raw comps come in higher, north of $110,000, but again there are no garage-less comps and some of that valuation is based on "fake" square footage, so to speak.

Post: WHOLESALE DEAL : Texas Buy/Hold for $57k - 1hr outside of Austin!

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

Price includes my assignment fee.

From Seller:

Says this one in good condition.

rehabbed 1 bath in 2014

New roof in 2015.

Living area, hallway & kitchen is tiled. Done 2008.

Renter for 7 years. $650/mo never raised rent. Great renter...very clean.

Built 1960s. Bought 1992.

WH-replaced 4 years ago

Central AC-outside replaced 6-7 yrs ago. Inside had new water pan in 2000.

Roof: replaced 10 months ago.

Original cabinets (wood) in kitchen are good.

2015: new garage door.

From Local Realtor:

$65,000 and $750/mo rent. Another difficult area as there are many fourplexes (3 bedroom units there renting $600-$650, so a single family is probably just north of there, which the few rental comps included do reflect just south of $800/mo).

There are two fairly comparable homes on the market that have yet to sell - one because it's only been on the market 3 days, but the other is at 80 at $65k. Both appear to be in decent or even good condition from the pictures. So I couldn't recommend we would likely get a price north of there.

Post: 12% Cash Return on Buy & Hold in Texas - only $42k!

Karen MorganPosted
  • Wholesaler
  • Leander, TX
  • Posts 80
  • Votes 7

REVISED info from Property Manager:  Rent maxes out at $700-725/mo in this neighborhood. Believes rent can be set at $700/mo for this home with these repairs: int/ext paint, new carpet (maybe replace some subfloor while carpet up), new inside heat unit.

Welcome to BP!!

I do RE investing in a Texas military town...I see lots of folks try to sell with their zero dow, VA loan homes, and there's just not enough equity to make the deal work. I also speak to LOTS of former military who rented out their old home at old post and simply buy a new one at their new post. Years later, they have multiple rental properties and used the VA loans in a very healthy way. Someone else gives them equity in the home, and they make a bit of money each month.

Hopefully you can rent from your brother, and y'all can work something out to allow you to partner on ownership of the property.