All Forum Posts by: Kevin Domschine

Hey everybody - I'm looking for more information on lease-to-own options out of Houston, TX. 1. for me personally as I can't secure a traditional mortgage on my own yet, and 2. as a tool in my real estate tool belt. 

First off, are there specific realtors for these cases? Or is it more trying to educate and persuade regular sellers?

Second, what is important to bring to the table? Obviously credit is poor otherwise traditional mortgages would be used, so is it more based on income and work history? Somebody like myself with a good income and great work history that might have below average credit, what is recommended to get out of rental apartments where I'm not gaining any equity?? 

Thanks in advanced for any advise!

Hey All,

Anybody have access to or know of some asset based lending programs??

Due to my age and DTI out of college, i'm having trouble landing lenders for rehabs by myself. I'm an architect by trade, and have completed 2 deals previously in a partnership, however can't make a splash on my own without some funding help.

Does anybody have any information on 100% asset based lenders (or any asset based lenders for that matter) in the Houston market? Obviously this type of lending may be partnership styles with a percent of profits rather than percent of loan and that's totally fair with me. Do you know any other routes to navigate this speed bump? 

Thanks for any information in advance!

Best, 

Kevin Domschine

Anybody have access to the asset based lending program though?? I did not pay the $1,997 for the 3 day but had a lot of interest in the line where they had a partnership with a 100% asset based lending. Due to my age and DTI out of college, 100% asset based is very attractive to me.

Myself and two partners can't make it tomorrow, however would be interested in joining your event in the near future! Is this a monthly get together? We started our investing company at the beginning of October.

Hey @Dustin Dahlinger welcome to BP and the Houston market! Always looking to connect with investors in the area. What are your overall goals? Do you and your partner want to focus on fix and flips? Wholesale? Buy and Holds? Seems like you are eager to get started and I admire that, just make sure you have your due-diligence set in what it is you want to get into, that will drive the ship. Which marketing strategies to focus on, target markets, target demographics, financing, exit strategies and everything in-between.

Can certainly connect if you would like to chat more!

Best, 
Kevin Domschine 

One thing to note and take into consideration, as @John Vo and @Dave Van Horn mentioned, is if this is a first time flood or not. Harvey was a pretty real freak of nature that redefined the flood planes. If the property is a first time flood, people are likely going to overlook that fact (granted you do proper work) understanding Harvey as a 1,000 year type of storm. If this is the properties 3rd, 4th or 5th flood it might play into the stigma way more.

Also, take note that all of those displaced people and families are in search for new residences. Many jumped into an apartment complex on 6 month or 12 month lease and will soon look to get back into a SFR. If you time rehabs proper, there will be a huge increase in buyers for renovated properties.

Do some research on commercial investing with syndication. The short and sweet version is basically partnering up with cash investors who have the capitol, you negotiate the terms which include a percentage of monthly cash-flow and percentage of any equity pulled for BRRR + percentage of sell price. It's a joint venture, however some percent of a deal is better than 100% of no deal.

Will say that in this method you remain the manager, its your show they just have the funds. So you don't have to worry about investors taking action on the property behind your back. Also there isn't a limit on how many investors you can pool, just obviously keep in mind the more people the more hands are in the percentages.

Heres a basics link on syndication:

https://blog.realtyshares.com/real-estate-syndicat...

The biggest thing I would say, Demarkus is that the house was promptly gutted above the flood level and considered "clean and dry". If the house was NOT gutted, insulation not removed, flooring not removed and/or wet areas not sprayed for mold, there is a potential for many more problems with that property that may not meet the eye.

Welcome to BP, Sean.

Thank you @Gary Montgomery, I agree this community is a fantastic platform for both newbies and veterans. Did you do any investing in the Jersey City area?