All Forum Posts by: Kevin L.

Originally posted by @Dax Desai:

 I would suggest partner in someway with a local person to do your deals that way the hard money lender has a local person to go through. 

Dax - thanks. can you explain how exactly this model may work?

Hi,

I am a new investor from china. I had been reading on BP for almost 2 years, but just joined yesterday.

I am hoping to get some advice/feedback from local investors in Houston.

current thoughts:

- I want to buy 15-20 SFR over the next 3 years for long term (10-15 years) buy & hold;

- price range at $120-150K - B area? better tenants pool (vs.$100K and below)?

- rent at 1% - $1200-1500 (expecting to have a small positive cash flow each month)

- a stable area which has good potential to appreciate over 10-15 years time;
- low crime, good school district
- less than 10 year old houses (to minimize future repairs)
- avoid low price, but may never appreciate area
- will get PM
questions:- 1) what area/neighborhood fit these requirements?
2) any of these requirements very wrong?

@Tommy Hopkins

thanks. this is exactly what I am thinking.

if houston economy get into recession due to oil prices, then there may be a chance to see property prices coming down - which may be a good entry point for a new investor like me.

at least I do not want to be stuck (prices falling after my buying).

I am too far away from houston so I am not sure

@Joel Owens

thanks Joel. I had read a lot of your posts on BP in the past. I am sure you are my #1 go-to-person if I do commercial investment.

as for currency exchange rate, I know there are lots of chinese people moving money outside of china now. but in my case, I moved some money out into US$ much earlier and wanting to keep it that way for the next many years.

what do you mean by "Many banks want boots on the ground locally. "

does this mean if I have a local person helping me -that would make it easier for me to get a loan?

I hear you re houston prices.

@Rich Nickel

thanks.

1) banking relationship - not yet. I guess I need find a portfolio lender or B2R. I did some research on this, but not actively approach anyone yet.

2) indeed the deal you mentioned sounds great - how do yo find this? can you post the details?

"135k ARV, rents $1350. Purchase price of 100k and repairs of 10k."

@Adrian Salas - thanks. I have a feeling that for Austin (and Dallas) I may have missed the boat, and the prices may be too high to jump in for now

@Sam Van Horebeek

thanks.

chinese buyers you worked with are from hong kong or mainland china? any of them buying multiple SFR (>5) at all?

Originally posted by @Sharon Tzib:

@Kevin L. 

 as well as lots of cash buyers still on the scene, the $250K and under market is still pretty solid. 

 @sharon tzib

thanks.

HAR monthly report indicated the transactions for $150k sector decreased 25%..for most of the months in 2015 and 2014. does this mean investors are less active for quite a while?

Originally posted by @Mark Creason:

How will the exchange rate between the Yuan and dollar affect your purchases?

Mark

it has nothing to do with the exchange rate. I want to move some money out of china, and would like to invest in properties in US. I have this thinking for quite a while.

I am thinking to buy at $120-140K price range with rental of $1200-1400/month. not sure if this type of SFR prices shoot up a lot in the past 3-4 years in the first place. I noticed the median price in houston go up about 40% now vs 2011-2012.

is it realistic to expect a 15-20% price drop for this sector, say, by 2017?