All Forum Posts by: Kristie S.

@Ryan Blake

Thanks for the clarification! Glad I am in Texas. On the subject of foreclosures, do you think the fact we do it fast down here is beneficial for real estate investors? I have been thinking of learning how to buy foreclosures as a way to get good deals for rentals/the BRRRR strategy.

@Eugene Davis 

Hi Eugene, I just wrote a blog about this very subject today: Rookie Flip Lesson #6: Houston area flood zones.  If I were you, I would not buy in a flood zone regardless of how cheap the property is.  At least not right away until you are established and think you can stomach the hassle and have enough cash reserves of the long vacancy.  I'll admit, I have been tempted just like you, but there is no guarantee you can get in and out before a storm hits.   Plus, the time to rehab a flooded property is at least 6 months and that's if you can find contractors at all.  Do you remember during Harvey how hard that was?  And then many people got ripped off by bad ones.  The scammers came out in droves in the aftermath of that mess. If you read my blog, you will see we were flooded 3 times so well versed - let me know if you have any more questions.   

@Paul Schaefer

@Jimmy Suszynski

I am surprised to see all the replies say HML want to lend to entities. I just did my first deal with a HML and had no problem finding one that would do it. Don't have perfect credit either so they wanted to see some other collateral, but overall it was easy. Now, the interest was 12% though, so make sure the numbers work. And, make sure they will extend your loan if you don't finish on time. Not sure if their willingness varies from state to state but I would not automatically discount it until you make some calls. One more note - the HML I found - there were 2 on my final list are in my state. Not sure if that matters but have you tried local ones?

@Matthew Gullo Thanks for continuing with these!  I will be there - 

Hi Adam, my husband and I just completed our first flip. When looking for a project, we found that the lower priced houses were tough to make work on a flip so ended up with a large house out in Richmond. We bought it from a wholesale company. Won't take on anything as big again - it was too expensive and took too long. Next we plan to look for houses we can buy and hold - about to read the BRRRR book and hope to make that work. I committed myself to writing a blog every day this month about the lessens we learned if you care to read it. Lots of lessons.... The Houston market is very hot and very competitive so you have to move really fast. They go so fast.

P.S. In addition to reading lots of books, the BP podcasts have a HUGE amount of great information.  I listed to the Rookie Podcast and The Real Estate Podcast with Brandon and David.  So helpful

I have listened to a lot of podcasts and heard tons of people say they have a W2 job and can successfully do real estate on the side. I feel like I must be doing it all wrong because this is no easy task - not nearly as easy as it sounds. With a demanding full time job, 3 kids still at home, 4 cats and a personal residence to take care of and trying to do our first flip during a pandemic, this has been a challenge. We are finally on the home stretch but over budget and 2 months past deadline and as I worked on our flip I found Podcast 330. I plan to read the book when I am done but if you are struggling to juggle the pursuit of your dream while keeping everything else going without dropping from exhaustion, give it a listen!

I'll be there!

@Lynn Currie

Hi, question for you. How high end are tou talking? I have a house that will sell for $325-$365 and trying to decide what to do with the master bath. The tub for starters. Love the modern look of the soakers but they seem pricey. Would live to get your thoughts. Thanks!

@Drew Diaz hey there - they plan to have another one of these in January.  Watch for updates on BP.  

@Kobe Xin  Hi, would you mind sharing the info?  I would really like to get my license as well to help but need to fully understand what the fee structure will be with the brokers.  Thanks in advance!