All Forum Posts by: Lyall Storandt

Hey Anthony Dennis! Welcome to Bigger Pockets!

I think I can help you with both your short and long-term goals and will shoot you a PM in regards to both.

Houston is an excellent real estate market and there are tons of opportunities for both seasoned and new investors alike.

The folks on this forum are incredibly knowledgeable and you can find the answers to most any real estate related question very easily. If you can't find what you're looking for, ask away and someone will point you in the right direction!

- Lyall

These lots have sold; please lock this thread.

Keshawn Finney Welcome to BP, Keshawn! We have an office in San Antonio and are a cash buyer and seller of distressed single-family homes. I will shoot you a private message to get you in contact with someone who will be interested in seeing your deals.

Brian N. Hey Brian! Welcome to BP! Always good to see another Houston area member.

We have two adjacent lots totaling 13,100 square feet in the Houston Heights subdivision of Houston, TX. These lots would be ideal for a developer looking to build 4-6 townhomes (retail comps. show $190 / sq.ft.) with a shared private driveway.

Price: $438,000.00 total for both lots
Dimensions: 131' x 100' with back alley access

Please give me a call directly at 405-361-1341 if you have any interest in these properties.

This property has sold.

Please lock the thread.

Greetings!

We have a new property available in the Energy Corridor area (West Houston) with the following numbers:

Price: $113.5k
Rehab: $27k
ARV: $185k

Please give me a call ASAP at 405-361-1341 if you have an interest in this property!

- Lyall

Would love to attend, but will be out of town those dates. You need not change the date on my accord, but if you do, I'll be there!

Ray Kurek Hey Ray, welcome to Bigger Pockets!

The simple answer to your first question is that starting is the best way to get started! The more complex answer is that it really all depends on what your investment goals and objectives are. For example, if you're looking to replace employment income, rehabbing and flipping properties may be the best way to go. However, if you're looking to build passive streams of income and accumulate wealth long-term, rental properties may be the way to go.

To answer your second question, most lenders, whether they're conventional or hard money lenders, will want you to have two full year's tax returns in your self-employed position before they're willing to count that income towards lending eligibility. But, there are private money lenders out there who may be less stringent with their requirements. What I can tell you for sure is that when it comes to lending, assets conquer all. In other words, if you have a considerable amount of liquid assets, a lender will view you more favorably as a borrower regardless of your income situation / source.

I'm local to Houston, TX and please let us know if we can ever be of further assistance!

- Lyall

Kyle Holsey Hey Kyle, sometimes the term "turn-key" is used to describe a rental property being sold with a tenant already in place. In other words, you're buying a fully rehabbed asset with the passive income stream already in place. The only issue with purchasing this type of investment is that you typically will not capture the same equity that you would buying a distressed property and rehabbing it yourself.

Feel free to give me a shout if you'd like more details regarding either type of investment.