All Forum Posts by: Stanley Okazaki

@John Casmon Very good points..thanks for the feed back

@Jeremy Tillotson hahaha! I doubt he'll want to bother with a small house like this one...he's got millionaire investors he's working with.

@Account Closed yeah, people are professionals at this sort of thing. It's amazing at how articulate their lies are...

@Broderick Campbell I see the little red icon right now haha. No problem man, if you ever need anything else feel free to call/text/email me. All my contact info is on my account. I also purchase homes cash in the montgomery county area so if you have a buyers list please add me to it. Look forward to doing some work with you in the future!

@Steve Vaughan you're very welcome! Thanks for the feedback haha

@Stephen Schaefer Seriously though, have you seen that show on MTV called catfish? 

@James McMillan Wow, you never know. 

@Account Closed That's a good point. By there just being an application process you filter out the majority of the un-qualified applicants. Thanks for the feed back...

@Andrea M. You're 100% right. Thanks for the feedback

@Broderick Campbell Let's keep in touch then. Here is exactly how you get the list. I only mail to Montgomery county right now so I'm unsure about harris county. Call 936-539-7897 and tell them you want a list of delinquent tax payers. They're going to tell you to fill out an online form and mail it in. Once they have your request ready they'll call you to come pick up the list. They upload all the names and addresses of the home owners onto a CD and it only costs 10$. You DON'T need to buy these lists for hundreds of dollars. 

You'll probably want to wait until Fed 5th to send in the request form because of the new tax year (Jan 31st). Hope I helped...

Click on the link to get the form. It's the very last one...

http://www.mctx.org/departments_d-k/departments_q-...

@Lelith Walker I loved what you said from the beginning "If they are stressing you out during application then they will stress you out when they move in".

Ok, we have this guy who at first seemed like a legit candidate but now is beginning to raise some questions. 

I don't want this to be a long post so I'll just point out the red flags...

.Claims to have been a realtor,marine, gone bankrupt & now says he makes 300K a year with his company that writes software for phone apps. Sure this is all very possible but what are the odds? I mean he did send me a bank statement that has his name on it with 300K in the bank? You would expect to be able to find some more info on this guy via google but I can't find anything!

.At first he said his credit was bad because he had his identity stolen then when I later asked him about his credit he said it was bad because he owned 285 pieces of real estate before the recession hit. I call BS.

. Will not give me his credit scores...Sure we could have ran his credit but we weren't paying for the reports ourselves. (He never gave us an app fee)

.After reviewing his application & and googling his company's name we found nothing so we asked him to tell us why we couldn't find anything. He then proceeded to give me a call expressing how angry he was and again how he could just buy a house if he wanted to.

.Continues to tell me that he is working with multiple millionaires in CA, developing communities.

.Insists on having a guarantor sign the lease even though we told him he would qualify if his income checked out. 

Obviously we're not going to go with his application. I just thought I'd share this with BP and I'm also interested in what you guys have to say. 

Wow, congrats! 

to anyone that says this was beginners luck- " The harder you work the luckier you get"

For Rentals

1. C grade neighborhoods. Although B or A class neighborhoods may attract good tenants butI feel that the  higher price you have to pay for these properties can better be used to purchase multiple properties in lower end neighborhoods. An exception to this would be purchasing a home 30-40 % below market value.

2.Positive cash flow. 100$ +

3.Purchase price. Unless you're buying multi-family properties I don't feel that you should ever purchase a rental property unless you purchase it for at least 20% below Market value (after repairs).

4. Schools/ neighborhood demographics- I prefer neighborhoods of small families close to decent schools.

5. For rent signs. If there are a ton of for rent signs in the neighborhood that should raise so red flags.