All Forum Posts by: Kenneth Kussman

Question to the experienced real-estate investors that have made it to the $1,000,000.00 mark in cash or equity or a combination of both.

I am just starting out. After many years of wanting to become a full-time investor, I made my first move.

At this time, I have a decent 6 figure job, very little debt, good credit score, but only about $10,000.00 in savings (cash). I just bought a new home to live in. I have a 4-bedroom, 3 baths, 2,300 sq. ft. home with a pool, that has approximately $100,000.00 in equity, that I have just rented out with a positive cash flow of about $280.00 a month.

I have about 15 hours a week to focus on my real-estate business. My goal is to get to the $1,000,000.00 mark in cash & equity in 2019.

To all the successful real-estate investors, based on your experience and the above scenario what is THE ONE THING I should learn or focus on to reach my goal?

All advice is welcome and appreciated

What do you consider entry-level neighborhoods in the Los Angeles area?

I live in Texas, can I Quitclaim ownership of my home to my son without problems before I get married to keep it out of a new marriage?

Would it cause problems for my son?

Also, I still have a mortgage, will that be a problem?

I live in the Irving Texas area. I have two large tree's that need to be cut down in the backyard of a house I own.

Can anyone give me recommendations.Feel free to post or PM me.

Thanks

Ken

I have been focusing on about a 60 mile radius aroung Dallas. I want to buy, but I have pulled back for awhile. I see many overpriced listings that have this "We are only accepting offers for the next 72 hrs".

I saw that in the California market before it crashed (2 times). I don't think there is any crash ahead, I just think prices are a little inflated, will level off, and thiings will slow in awhile.

But then again, that's just my opinion. Time will tell.

I was just wondering what others thought.

Am I the only one noticing the price cuts on Single Family in Dallas Texas area?

Is the market cooling ?

Ken

Hello fellow Bigger Pocket friends,

I live in the city Irving, Texas. I know the Irving Texasarea because I live in the area. Problem is I am not finding what I want in Irving (SFR or Multi 1 to 4 units). I want to expand into other neighborhoods within DFW and, but want to expand into other areas. I see properties in my range ($100,000 to $150,000) for sale within my pricerange in other DFW but not sure what to look for in an area before I buy.

I know this is a broad question, but anyone have specific criteria you useto determine ifthe area is a good or not good area purchase in?

I am looking for both buy & hold (rent out) and homes to buy fix up and then sell.

Thanks ahead of time for any advice........

Ken

I looked at a listing and it says 

"3 bedroom 2 bath in a great neighborhood, close to schools and shopping! Needs some TLC, but would make a great family home. Bring your tools and make this one your own! Property is an AS IS. Cash Only. No Option."

Does this mean I can't get a conventional loan ? Only cash ?

It says as it - Does this typically mean that something is wrong with the property and the Lenders will not loan on the house ?

I was only using five as a random number. I would not tie up 5 houses that way, and my realtor wouldn't do it either. But I might do it for two. But that would be rare. If I did that for two I would shorten the time to days at most.

Your right it would be unethical  

In Texas if I have it right, when you make an offer as a buyer, and the seller accepts, next step is Buyer gives Seller good faith amount of money, and seller agrees to a 7 to 12 day period for inspection.

If for any reason Seller does not want to go through with the transaction, and the decision is made prior to the agreed number of days. Seller has to refunds the money and that's the end of it.

If I found 5 properties I was interested in at the same time, gave all sellers good faith money so I can have say, have 10 days, to look at all the properties.  Is it safe to save if I decide to buy one and not the other 4, I would get all my money back from the sellers I didn't choose as long as it is within the grace period agreed upon? 

Is this right ?