All Forum Posts by: Kelly Smith

Here is a thought Glenn - have you considered trying wholesaling since you live in the area?  This could be a good means to gain some experience, earn some 'quick' cash to build up for flipping or rentals.  

Welcome!  Killeen/Ft Hood as well as nearby Waco are healthy markets and affordable.  A couple real estate investment clubs in each market to connect with others in the industry as well.  

I am a TX HML and use social media for my personal business aside from our company marketing efforts and have sourced business going that route. I try to keep content relevant to my audience - articles about real estate or things that will affect real estate, markets, recently funded deals and more.

Welcome Jonathan, we lend 100% of the purchase price as well as construction budget and 95% of the costs associated with the loan (closing costs).  So down payment is 5%.  This is typical of most hard money lenders so what you've pitched above isn't quite right because your loan would be $70k with most investors.  So the cash to close including third party fees will be between $11k and $12k.  Depending on how long it takes to unload, it really isn't much of a deal.  

I would recommend Micah Autry. Message and I'm happy to share his info.  

The county appraisal district values are notoriously low (thankfully) because Texas is a non-disclosure state, meaning you do not have to disclose the amount you bought nor sold your home for.   Zillow is completely unreliable and was quite an article last week being shared on social media.  

I would ask a realtor for sales comps that has assisted with mobile home/lot rentals.  If you're getting financing than the appraisal will give you the value.  It might be worth your while to get a 'desktop' appraisal which can cost around $200.  

Welcome! Cedar Park became the top market in Austin and there are plenty of older homes that are being flipped even though most the discussion in the area seems to be new construction.  My neighborhood has three flips on the main two roads!  

Our group has a free networking event tomorrow (1/6 @ 9am at the Denny's located at 183/Duval) that might be beneficial to meet other investors in the area.  

Welcome - great time to get involved!

Welcome and good luck!  Add me to your list. 

Hello Brenda, 

I would consult with your broker at KW about your wanting to wholesale because not all real estate offices allow it because of the idea that you are not representing the client/seller to obtain the highest and best offer.   This happened to an investor client of mine in Houston.