All Forum Posts by: Michael H.

Looking for a contract that can do 1 to 2 jobs a year in 2018 and 2019. would like to forge a long term relationship with a smaller local partner. Sometimes under a 203k structure, if you are not 203k approved i can get you approved, but work other than 203k jobs on the horizon!

everyone beat me to it...my first thought was "how old is the roof? i hope you built that into your Cap Ex budget"

Hello,

Native Houstonian Newbie, trying to cut my teeth in small multifamilies while I'm young and expenses are low!

This Community has been amazing! Ive already met alot of helpful members and I've found many of the players i need!

Stay awesome BP,

some guy who dreams but never sleeps

Diversification equals preservation. It's crucial to Max out your Ira every single year come hell or high water that is a tax break the government gives you only once per year and you only have so many years left of it. I do not recommend investing your Ira in realestate either. Let's hedge your Ira against your realestate ambitions! In regards to 401K only put enough in to meet the match your employer offers otherwise you are leaving money on the table. The financial instruments offered in a 401k are typically terrible so just get their match and when you leave the job rolling over into your Ira were you have full control! Do you should not put a penny in 2 things like realestate until your for A1K match is met and your Ira is Max out for the year otherwise you're leaving money on the table from the jump. Cycles turn over, Sectors move in sympathy with their largest cap player l, and markets correct. If anybody challenges those 3 statements I just made then they are trying to sell you something. if you want to survive these downturns you need a little bit in every bucket. With that said I do not put any extra money in the stock market outside of my Ira and 401K...Everything else should be a cash emergency fund on hand to keep you out a credit card that and the rest goes into realestate. sincerely, some guy from oil and gas who survived

I'm hearing that labor is impossible to find right now, even for some seasoned investors. also was told by those active in our market that things are expected to slow down summer of next year. I was told it ll be easier to buy something that doesn't need reno if you are trying to buy in the near future.

Hope this helps

this was a great read, Lots of good points.

I feel its not a matter of real estate prices, traffic, or local culture. When you are a monster,like amazon, all of these concerns can be augmented. Cities can offer to build toll roads (happened in Houston) offset taxes on real estate prices, and - the foot print amazon brings - it will change local culture!

Just my Thoughts.

having a hard time networking and finding a local lender i can work with for the long haul,

can anyone recommend a lender in the Houston area that's done a 203k in the last year or two?

looking to do more than 203k deals after we bang this one out!

thanks BP community!

Hello,

My name is Michael. A Native Houstonian & new comer to BP.

LEADERS - I'm looking for a LOCAL lender to guide me through my first 203k application. To broad stroke this thing, my FICO recently dipped to 632, but I am expecting it to rise again in the near future.

REALTORS -  I am looking for a 3 or 4 unit multifamily in the Houston area. LOCAL realtors only please!

Thanks,

Michael B