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All Forum Posts by: Kristi K.

Kristi K. has started 16 posts and replied 365 times.

Post: Why do Wholesalers Lie

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @James Hamling:

What did you expect @Kristi K.?

I mean seriously, what are your expectations? 

That someone is going to deliver to you, on a silver platter, a property purchase you can simply say "yeah, sure, I'll take that" where you do some paint, carpet, little cleaning and tidying and turn around and clear a $100k? 

They have already done all the hardest work. What's left is simply $ to close (HML easily solves that) getting the vendors to do the "simple stuff" (pick your platform; Angie, Neighborly etc etc) and than to sell it (more agents than one can count happy to list).

No. 

There gonna sell you the stuff they can't or won't do. 

And of course there gonna press to sell it for the most they can get, that's just obvious. 

No, your nobody special and do not garner any "relationship building" or any of that jazz UNTIL or unless you make yourself special to them to garner a volume relationship. 

I hear that foolish excuse so often of they will get your volume. Ok, what's that volume? Zero or next to zero? Not much incentive there. 

Reality is there is way more buyers than deals. And your nobody until you make yourself somebody. And that's exactly how they will treat you. 

What your conveying here Kristi is an expectation that others be responsible for your success. That others are to deliver success and profit to you with a bow on it. 

No. 

Your wholly responsible for your own success. 

And let's be honest, your looking to take advantage of them and upset that they keep beating you to the punch. That's what it all boils down to. 

All the complaining in the world won't change a darn thing. 

Take actions to make solutions. If you can't shape yourself into a solution maker the cold hard truth is this isn't for you and you'd be better focusing time and energy elsewhere. 

Haha, calm down brother. It was more satire on my part. I’ve bought 18 houses since I retired in 2016 and still haven’t bought one from a wholesaler. 

Post: Why do Wholesalers Lie

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @Joe S.:
Quote from @Kristi K.:

I’m about ready to give up on wholesalers! I’ve wasted a lot of time going and looking at “a jewel of a deal”. Here is the latest example from yesterday

This is how they advertise it, $180,000

“If you’re looking for a great investment, with great bones and endless possibilities, this 3-bedroom, 2-bath gem in New Braunfels is it! The roof is 5-7 years old and the foundation was updated 5-7 years ago so the big stuff is already taken care of. All it needs now is a little TLC to bring it to life—think fresh paint, new fixtures, etc.

The cabinets, floors, and walls are all in good shape, so you’ve got a solid starting point. It’s the perfect opportunity for an investor hunting for a smart deal.

Located in a great area with a charming downtown, awesome local restaurants, and plenty of outdoor fun by the Guadalupe and Comal Rivers.

This is one of those homes that doesn’t come around often—a solid investment with tons of potential that won’t take much to make it shine.”

The county has it appraised at $188,000 and here are some pics.  

My question is how can someone be so far off on value and continue to keep their job? 

Maybe I’m missing something in your pictures. That picture of the sidewalk the sidewalk was poured after the fact and it’s not part of the Foundation.  Those couple of little small stress cracks  in the wall you took a picture of as well as the hole in the door are easy fixes. 
 
Ok Joe, dm me for their contact and you can run with it… 

Post: Why do Wholesalers Lie

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367

I’m about ready to give up on wholesalers! I’ve wasted a lot of time going and looking at “a jewel of a deal”. Here is the latest example from yesterday

This is how they advertise it, $180,000

“If you’re looking for a great investment, with great bones and endless possibilities, this 3-bedroom, 2-bath gem in New Braunfels is it! The roof is 5-7 years old and the foundation was updated 5-7 years ago so the big stuff is already taken care of. All it needs now is a little TLC to bring it to life—think fresh paint, new fixtures, etc.

The cabinets, floors, and walls are all in good shape, so you’ve got a solid starting point. It’s the perfect opportunity for an investor hunting for a smart deal.

Located in a great area with a charming downtown, awesome local restaurants, and plenty of outdoor fun by the Guadalupe and Comal Rivers.

This is one of those homes that doesn’t come around often—a solid investment with tons of potential that won’t take much to make it shine.”

The county has it appraised at $188,000 and here are some pics.  

My question is how can someone be so far off on value and continue to keep their job? 

Post: What tools would you bring with you when touring a potential flip?

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @Kyle Hess:

I'm building a list of tools you could have handy while touring a potential fix-and-flip. 

Is there anything you would add to this list?

Flashlight
Tape measure/Laser measure
Paper/Pen/iPad
Binoculars
Receptacle tester
Level
Marble
Drone
Respirator/Face Mask/Eye Protection/Gloves
AQI tester
Water pressure gauge
Thermal camera
Endoscope camera
Knife

I bought over 20 houses in my lifetime and I’ve never taken more than a flashlight. 

Post: What tools would you bring with you when touring a potential flip?

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @Kyle Hess:

I'm building a list of tools you could have handy while touring a potential fix-and-flip. 

Is there anything you would add to this list?

Flashlight
Tape measure/Laser measure
Paper/Pen/iPad
Binoculars
Receptacle tester
Level
Marble
Drone
Respirator/Face Mask/Eye Protection/Gloves
AQI tester
Water pressure gauge
Thermal camera
Endoscope camera
Knife


Post: I sell bank foreclosures...ask me anything!

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @Jack Sarcia:

Hey everyone, I have been selling bank foreclosures since 2009. I never asked for this LOL it was thrust upon me. 

Anyway, I have a recurring character in my life... The cash investor who "saw the property on zillow" but doesn't really understand what REO means or how the banks operate.

If anyone has question about buying a bank foreclosure, fire them off. I will do my best to answer. I am looking to build up a network here on BP. In a way I am a "long time listener, first time caller" jumping into the forums here. HMU!

Do you sell any bank foreclosures in Comal or Guadalupe county Texas? If yes I want to be on your list of cash buyers. I'll send you a DM. 

Post: Moving property from personal to LLC

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @Cosmo DePinto:

Hi. I have 4 SFH investment properties….all bought in my name. I've owned them for a few years now…can I move them into LLC's now without refinancing? I'm hearing mixed opinions from people I know.

Ask your mortgage company. They are the only one that can answer you with 100% accuracy.

Post: LLC Insurance and Taxation

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @Marc Zak:

Anyone have experience on the issue of getting insurance on a property held in an LLC? I did a search on the forums and insurance seems like it could be a major problem.

I have houses in two different LLC’s in Texas and insurance is not an issue at all. The name on the insurance policy is just the name of the LLC. It doesn’t cost any different than being under your own personal name. 

Post: California isn’t the only place where insurers are dropping homeowners

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @Cameron Moore:

Another example: the average roof in DFW is replaced every 6 years and the average cost is $40k. Witht he average premiums falling between $3500-$4k. Do the math on that and we will see that the carriers are not profitable and they also arent charity. We have to find a balance! 

Just curious why the average roof is replaced every 6 years in DFW. I've lived in central Texas for 44 years and never have I replaced a roof less than 20 years old. And $40K per roof??? 

Post: How do you get a spouse's name off of the property if divorcing?

Kristi K.Posted
  • Rental Property Investor
  • New Braunfels, TX
  • Posts 370
  • Votes 367
Quote from @Lauren Ruppert:

Hi all!

A multi-unit property was purchased for $140k.  The estimated value  now (roughly) is $200K.  Couple is divorcing, husband wants to keep the property; wants ex-wife's name off of property/loan. 

What is the best course of action?  He can't 'buy her out' as he does not have that much cash liquid. The balanced owed on the property is about 97K.  She put a portion of the down payment (15K)...and of course there is a little equity... Lastly, the property is in PA. 

All suggestions will be greatly appreciated! 

The wife can get her name off of the property by doing a quit claim deed to him, but that does not get her name off of the loan. She’s still responsible for that until he refinances or sells. So it’s not smart for her to do a quit claim deed.