All Forum Posts by: Kevin Brown

Ive only been living and investing in Dallas for 3 years, but watching the market turn around the way it has is amazing. At this point, it cant come as a surprise anymore.

I mean if its worth it to you, then go for it. Personally I wouldn't be willing to pay someone to handle that stuff for me, mostly because youll still need to be the one doing most of the work/ making decisions, the agent will sort of just be copied on the emails... I am licensed and represent myself, so maybe that factors in to my opinion

@Tara Piantanida-Kelly

The leveraged properties I have run around 35% COC.

From where I stand, I have a hard time believing you couldn't turn that $45k into a more profitable investment. Maybe things are very different in your area, but I don't think I would drop that kind of cash, especially borrowing from my IRA for 16% cash on cash.

I might be confused as to specifically what you are asking, but it seems to me like it may benefit you to track down and negotiate deals the way you normally do, and on the deals that you don't want to rehab, call in your realtor to pitch it to his/her investors. If you assess the deal properly, which it seems you know how to do, just double close it. That way you don't have to mess with the back and forth of showing the house while its still under contract and the seller may still live there. Youll pay a little more in closing costs, but will be able to control the deal the whole way through.

@Roy K.

That's sort of the entire point of wholesaling though... obviously the seller could have gotten a better deal if they sold it to your end buyer which is what you are trying to keep them from knowing. If you want to avoid this issue, close it cash and double close. If that isn't an option, I suppose you have to deal with how title is drawing up the docs, they aren't going to stick their own necks out there by not disclosing all details to all parties

So I don't see why this tenant is "from hell"? They put down a $4k deposit, paid on time for 2 years, put in flooring at no cost to you, and as far as I can tell the only thing they did wrong was not report a maintenance issue, or clean the hvac filters and your insurance ended up paying for the repairs anyways. If that's the worst thing that's happened to any of my rentals in 2 years, id be pretty happy... Its obviously your choice to renew the lease or not, but Im not sure this tenant wouldn't end up in the top half of possible tenants...

Haltom City 3/1/1 1,023 sqft

Needs $2,000/rental $7,000 retail flip.

Price: $55,000

Rent:$850

Est Tax: $1,568

ARV: $70,000

Good morning BP,

Im looking for bank/lender referrals in Central Texas. Specifically Bell County, but really anyone who can point me in the right direction will be greatly appreciated. Ive got solid contacts in the Dallas area, and have bought a few rentals there but Im kicking the tires on expanding my business

Thanks!

The way I see it is its totally up to you and your comfort level. At the end of the day, buying a good property, at a good price, that you rehab correctly is something you will have a tough time going WRONG on. If you sleep better at night knowing you've got solid equity in a property that also generates solid cash flow, great. If you sleep well at night knowing you just added another good property to your portfolio, also great. As long as you aren't forcing deals just to buy more, you are going to be fine either way.