All Forum Posts by: Kevin Brown

I have backed out, and know folks who have backed out of HUD's, and did get my EM back. Plus is sounds like your reason is a very good one. Im sorry, I cant offer much advice, I suppose that's the gov't for you...

Obviously the numbers look good, and you will more than likely be glad you bought this 5 years from now. That said, could you buy something else in Dallas without the potential issues? Probably. If you think the gas explosion could become an issue for you, maybe you move on to the next one since that seems like it could be a headache for a while. Theres no perfect property, and if you do move on, im sure the next property you find will have you scratching your head too.

How do the repairs needed to the bathroom factor in to your numbers? It seems like it might be difficult to do a full bathroom remodel along with other repairs for $20k. If you remove the bathroom all together, does that change your arv?

Im not an expert on multi-family, but I do know the area pretty well, and actually have a new construction project (6 single families) im about ready to sell. Message or email me if you'd like to discuss further

Jon, I just realized I didn't fully answer your question. I actually just sold it on Craigslist. I have my license, but craigslist worked fine for this one, found a cash buyer and saved 3%

It was actually 1 acre in Alvarado Tx. It had a cell tower on it, so I sold the cell tower for close to what I paid for the the whole property and then sold the land separately. I suppose the reason it made sense was because it was under $20k all in so any return on something that small is a good investment, and since it was vacant land there wasn't much leg work

Depending on where it is in Tx Id buy it. I just did my first land deal, and we went okay enough for me to try again.

$900. 3/2/0 in a small pocket of Frisco Tx. Paid $34k and $3k in rehab.

Totally depends on the type of properties you own/ your comfort level. I go with form 3 (typically better coverage) and really the only reason for this, is I cant justify having less coverage for the couple hundred dollars it saves me per year. If the price difference were more significant Id save the money and take the cheaper insurance because to be honest, when it comes time to make a claim in the back of my mind, I always feel like the insurance companies are going to find a way to weasel out of it anyways

Is there anyone currently investing or with experience investing in West Texas, specifically the Midland area willing to share some insight?