All Forum Posts by: Karl McGarvey

Hi Joseph, I am a local agent in Houston on the South Side. Feel free to reach out. I used Vanessa Jaster at First American Title for my REI deals - tell her I sent you!

Find a local Realtor who has sold in that complex. Then find out what lenders they are using. These lenders are usually local and lend on the same complex over and over because the amount who will is so limited. We deal with the same in Galveston, and I have the same 2-3 lenders I always bring my clients back to because we are able to close with no issues. IF the lender has not closed on that complex before, find a new lender.

A lot of changes in the market over the last 12 months, and even David Greene admitted on the BP podcast this week that cashflow just is not where it used to be and that you really have to start factoring in the ROI of appreciation over time. Houston has not been immune to the affect that high interest rates and prices have on getting cashflow, but my latest clients are pivoting from houses that need upgraded, to new builds and houses that have the upgrades so that they can put their business on autopilot and not deal with heavy CapEx expenses. With buyer incentives and even deals to be made with builders for using their lender, there are opportunities to strike deals in the new build sectors. Just a few notes on happenings in our slice of the country - feel free to reach out if you would like to discuss the topic in more detail!

Lawyers can create them for you, or partner up with a real estate agent to submit offers for you and have them use your state contracts.

You and EVERYONE else. MF properties, even in this market, are tough competition. I would keep my options open and look at SFH homes to house hack as well. Stick to Republican states, generally speaking, they stay more landlord friendly (but not always)

You don’t actually need either. You can start as sole proprietor and avoid getting cornered into commercial style loans. I would also chat with your lawyer and CPA to see which structure might make the most sense for you with any other investments or earnings that you have. I have a few clients that keep all of the properties in their name and just use umbrella policies for protection.

Hello! It is 100% possible to manage from Dallas with the amount of online/automated resources out there! My partner and I @Holly Brown work primarily with investors in Galveston and own some properties on the island ourselves. If there is anything I can do to help you all in researching Galveston please do not hesitate to reach out! Galveston is a fantastic place to visit with investments of all types with our 32 miles of beaches!