All Forum Posts by: Barry Ratliff

Barry Ratliff Broker here, @MartinScherer I am available to help daughter look for a home. Let me know yours or daughters contact info to discuss and set appt to look for home. 

Hey @Mike Stock, I'm from Belton and I used to build homes and land developing in our area. The companies I researched and used were Larry Templin at http://www.ltms-cpa.com/ and Jerry Tyroch at http://www.lottvernoncpa.com/. Both these guys are experienced with contractors and investment properties tax work. Let me know if I can help you with investing. I'm a investor minded broker. Talk to you soon. 

Well Jose, that is a very good question. It is hard to determine both of those but one place to start is getting a consensus of several realtors. Once you have that, have one to give you areas of foreclosures in town and see if any come back on the market thru the mls realtor database. Im a investor minded broker, so I keep up with most areas in my market and spot check for them when they come on the market. The database will not have "flips" as a subject property but you could word search using "updated, fully remodeled, completely redone" etc. When you know if market is flipping, get a list of homes on market and see drive by them to see for your self. Also, search other investors and see if you can ask them about flips, locations etc and if they are willing to partner with you. They know their competition so they will be a good source. Good luck

Well first of all do you want to be represented by the listing agent or a buyers agent? The difference is the buyer rep on yur side and listing is not. If you want buyer agent, get a investor minded one. Once you have determined that, then ask for a comparable market analysis of properties active or sold in last 6 months. Have them to confirm rent rates near the subject. Find out why seller is selling, ask for a rent roll, what repairs or updating of mechanicals and roof has been done, how long seller has owned the property, are there pets allowed, are taxes current, has there been any insurance claims where seller did not use money for the repairs, ask for sellers disclosure, are there separate water and electric meters, does rent include utilities or not, are there long term leases or month to month, does deposits transfer to new owner, if there is pets, is the deposit a fee or deposit. If you get a deal on paper, ask to do a estoppel agreement between you and the current tenants to know what they have agreed, what the landlord has promised and may not have delivered or things not in writing. I would also use a local lender if possible.  A partner could be generated by the buyers agent. Im a investor minder broker in Texas. Good luck.

It will sure depend on who your submitting offers to and if you're using a realtor. If using a realtor, they have to use the promulgated state forms. Im a investor minded Texas broker so I use the state forms. But sometimes when buying properties, I use 1-2 pager. There are multiple offer programs out there that have forms to fill out and submit to sellers or seller reps. I just dont know them. Good luck. 

Sure you can but I would use an investor minded agent because they will know what your trying to accomplish and help you in other ways. Plus, since your new, you will gain more knowledge of the process til you become comfortable doing your own. But if your buying off market properties, you will need to write your own offers. Im a investor minded broker in Texas. Hope this helps. Welcome to BP and the business.

Hello @Jack B., I have been a home builder and still sub out my work on flips or rentals for investors, so I have a lil experience in the matter. My strategy hiring roofer or any other sub contractor is buying my own material and just get a labor price. Regarding roofers, get with the roofer you mentioned you want to use and get the company he uses to buy to buy shingles. Ask the company rep how many roofs or how much material he uses, how long hes been buying, does he have credit at that store or does he pay cash, and does he pay on time if uses credit. Also ask if the roofer picks up own material or they deliver it and who loads the shingles onto roof. I ask these questions cause it will tell you a lot about that roofer. As far as contracts and deposits, use the standard service contract spelling out whats included. If only labor, then there is no need for a deposit. You also need to pay for nails, flashing, felt, drip edge, pooky, ridge caps, decking, vents fireplace flashing if any. You will find when you pay for all material, you get the warranty from the manufacturer and you get to keep left over material for another job. Those turn key guys like to keep. Sometimes its about $2-400 or more. If you have general liability insurance, paying only labor decreases your annual costs. Get references and if they do insurance work, get that insurance rep reference. Its best if they are bonded, have insurance and licensed. Get copies if willing to give you. And at worst, should warranty their work for 30-90 days. If they are good company, they should have 4-6 guys working on roofs. 30-40 square 8/12 pitch roof shoud only take 5-6 hours to tear off and put new on. Sorry for being wordy, but this should answer all your questions, at least from someone who's ran a company with some street sense. Good luck.

I'm an investor minded broker in Temple-Killeen-Austin area Texas. If you can't find one, try looking up broker/agents who list foreclosures. They might can or work with agents who are buyers agents to work with investors. Just a thought.

Thanks William, but I went to that post and was not helpful. However I did pickup idea to create website to sellers there to request an offer. I know most sellers feel embarrassed so it's a non threatening way of knowing their options. 

Sad. I guess I'm old school when helping others. If anyone needs my help I'm offering.