All Forum Posts by: Lyall Storandt

Chris Reck Not sure what the tax rolls look like in Connecticut, but here in Houston there is a separate field for the address of the owner. Typically, if it's a rental property, the owner's address will be different from that of the subject property.

If you can figure out who's getting the property tax bill for the house and where it's being delivered, that's where you want your letters to go.

Best of luck.

P.S. - I haven't tried any marketing in Spanish, but I do get calls from Spanish speakers and luckily usually have someone near by who can translate for me.

Rachel Syphers Hey Rachel,

The bigger ones are (in no particular order):

I. Realty Investment Club of Houston (RICH Club)
II. Lifestyles Unlimited
III. Liberty Real Estate Advisors
IV. Wealth Club

Rachel Syphers Hey Rachel, welcome to BP! Glad to see another Houstonian here on the site.

Let us know if we can ever be of assistance locally.

Rob Ainbinder Welcome to BP, Rob!

Since you're just starting out in the Houston market, your best bet may be to offer your services as an experienced rehabber to a new investor who has some capital to invest. The terms that you agree upon are obviously negotiable, but if you're willing to take a small piece of the profit in exchange for sharing your knowledge and guiding someone through the rehab process, that may be a way for you to build your cash reserves.

If you take a big picture view and are able to use what you have (knowledge) to help others be successful, you'll be able to get what you want (extra income).

I think you'll find that if you take this approach, you'll be in a buying position quite quickly.

Best of luck!

Theodore Rivera Hey Ted, welcome to Bigger Pockets! Houston is a great place to be investing as all of our major market indicators continue to trend upward. The market is tight for investors, but there are still plenty of good deals to be had.

As for maximizing the buying power of your dollar, you may want to consider hard money financing as an option. Yes, you will end up paying lender fees that you otherwise wouldn't as a cash buyer, but your risk will be limited by lowering your out-of-pocket expense. Your cash-on-cash return will also be doubled (or more) on most flip deals.

I'd be happy to discuss buying and lending options with you anytime.

Eve Zhao Hey Eve, you may consider reaching out to the folks at the RICH Club, Lifestyles Unlimited, and / or Liberty Real Estate Advisors to see if they have any members that would fit what you're looking for.

To the best of my knowledge, MHD is more of a wholesale marketplace for investors looking to buy and sell. The quality of information depends entirely on the individual posting it. MHD is the platform. That said, it is an excellent resource as there are deals to be had and buyers to be found.

Like John said, you'll need to do your own research / due diligence, but there are plenty of "real" buyers and sellers on the site.

We have bought and sold properties through the site.

Bobby B. Hey Bobby, welcome to BP! There are quite a few local investors on the site; feel free to reach out if you ever have any specific questions.

Like Sam said, don't forget to take action.

Best of luck!

John Thaxton Hey John,

I can vouch for Brant and also John Simpson of Remodel and More (RAM). John's doing a lot of work in the Richmond area these days and would probably be very happy to pick up a few more jobs in the area.

Robert Pyke Hey Robert, welcome to BP! There are quite a few active members in the Houston area and most are ready and willing to help out in any way possible.

I'd like to offer you a few questions to help guide your next steps:

- What are your long-term goals for real estate investing? In other words, where do you want to be / what would you like to have accomplished in the next 3, 5, 10+ years? Knowing where you'd like to end up will help you formulate a plan for getting there.

- What is your source of funding for these projects? Are you using all cash or planning to finance? Is it all your money or will you be partnering? The answer to these questions will help shape your strategy as well.

While I do agree that buying rental property is a great long-term strategy for accumulating positive cash flow and ultimately wealth creation, if you start out buying rental property using all cash you will eventually run out of money. At that point you will need to either A. wait on your liquid reserves to replenish before buying another property or B. figure out a new source of funding. Whereas, if you start your investing journey by leveraging your available cash with financing, you'll be able to achieve your goal of owning multiple rentals much quicker.

That said, a mixed strategy of flipping and buying rentals may be the best way to go. In other words, if your cash reserves are limited in the beginning, purchasing lower-end flip properties using financing will help you build your cash reserves while also providing you with a new source of capital to use as a down payment towards purchasing your rentals. In this scenario, your profit from buying, rehabbing, and selling flip properties will be used to leverage the purchase of rental properties.

Your flips will pay for your rentals.

You've taken a big leap by joining this site and getting active, the next step is to take action. Experience is the best teacher.

Feel free to reach out if you ever have any specific questions for us.