All Forum Posts by: Melvin Maxwell

Michael, 

In addition to@Micah MaciasI know a great San Antonio GC but he only focuses on Alamo Heights and Terrell Hills.  If you happen to be in those areas, I'd be glad to pass his contact info.  Good luck.  Mel

Joe, thanks very much for the resource.  Mel

REI Teammates,

Does anybody have any experience with subject to transactions who would be willing to share contract templates? My local San Antonio partner and I are relatively new investors and are working on our first BRRRR with an all cash purchase. We really enjoy value-add projects but would also like to add the subject to strategy as a less cash intensive option. Have watched a lot of YouTube videos on the subject but am hoping to get a better feel for the actual products needed to execute the transaction--what do we need in Texas? (Due on Sale Agreement, Offer to Purchase agreement, Seller acknowledgement agreement?, etc)

Would appreciate any documents or education resource recommendations.  Thanks all.

Mel

Kayvon, my name is Mel.  My wife's family is from Eagle Rock out near Pasadena.  I live up Fairfield, CA but invest in San Antonio with my high school buddy who is a GC out there.  I have a broker recommendation of an excellent Keller Williams agent who knows and actively invests in multi-family.  If you shoot me a connect request, I'll be glad to shoot you the contact info.  

Also, I have not work with Shaun above but I know he is on the forum sharing information and I have benefitted from his advice.  

Thanks to all of you for your perspective and input.  Super helpful--thanks all!

Do any local investors have experience with Home Warranties?  Would you recommend them and any specific companies?

My partner and I are working on our first rehab property and someone suggested the possibility of buying a home warranty for the rental property we are rehabbing.  I've always been sort of suspicious of buying a home warranty and am concerned about delays it might cause to fix an issue for the tenant.  Wondering if anyone has any first hand experience and would recommend for or against them.  Thanks and Happy Thanksgiving to all!

@Manaia Alalamua and @Aaron Bihl, thanks for the Risk Well referral.  Talked to Addy and got a quote quickly.  Appreciate it.

@Micah Macias - thanks for the info.  We plan to execute the rehab without a GC.  My partner is a GC and he'll manage the projects with subs.  We'll need to talk through that with insurance specialists to make sure we cover our bases.  Would appreciate your agent contact.

@Manaia Alalamua - thanks for the contact.  I'll reach out.

Greetings San Antonio Forum,

My partner and I recently went under contract for a house in North Central San Antonio.  This will be our first rehab project.  I'm guessing we'll have to renovation and/or liability insurance.

Does any have any good insurance agent referrals?  

Thanks

Mel

Ben, thanks so much for taking the time to reply.  I'm definitely not 100% clear on how LLCs operate and your reply is definitely helpful.  To be more clear with my intent, my partner and I want to focus on rehabbing and then holding as rental properties.  We don't have an intentional plan to do any quick flips.  You are right...primarily focused on asset protection.  I don't want to be liable for anything going on with his existing GC business and I do have other properties that I want to keep separate from this joint venture.  Your response has pushed me to find some more resources regarding holding and series LLCs.