All Forum Posts by: Michael H.

this was a good thread. glad you guys are growing @Kevin Wood

Yannick Harry at Dagley got me the best rates on everything. several rentals, my primary, auto and a 2M dollar umbrella policy (the umbrella was only like 400 a year)

inbox me and ill get you two introduced

I'd be skeptical, because no one Ive talked to has their new builds come in on budget or on time.

I'm getting off market deals in Houston sooo far below replacement cost(AKA build cost) that I wouldn't be trying to build.

Investment Info:

Single-family residence buy & hold investment in Houston.

Purchase price: $130,000
Cash invested: $16,000

Bough off market, from my own marketing efforts. Used private funds. after refi, the left 16,000 in the deal.(including escrow funding)

Purchase price 130,000
PITI+A is $1213.10
Rent 1650
Appraised value, at refi 185,000
total cash out of pocket 16,000

classic paint and carpet rehab from a retiring landlord.

I use prop streams comping tool, still requires you to know your area and to know the market.

I'd recommend you find realtors who are ACTIVELY doing deals in your target zipcode. ask them for a BPO or to give you comps. for 50 to 100 bucks experienced agents are usually happy to put together a CMA for you.

If paying for quality work from quality operators isnt in your budget than you havent lost enough money yet on bad deals. lol 

i was at the conference, it was great! ill be at next year's as well. scott trench said the goal to do this every year.

sad we didnt connect in person!

as an investor, I dont really get bothered by what articles say. im still getting off market deals 60 to 75 cents on the dollar and the ash flow is great in class A & B areas.

lenders will do typically 75% to 80% cash out refi, 80% to 85% rate and term.

im getting 300 to 400 dollars a month gross cash flow per SFH, but im sourcing my own deals off market.

most wholesalers in the area, that ive seen, mostly blast out class C & D deaals.

I'd try to stick to class B or C+ areas if you can. this is a great market with low regulations

@Cody L. could use info on short term property managers in Houston market as well

Id absoolutly use an agent for your first deal, maybe your first three or four deals. its best to always admit that we dont know what we dont know. also theyll keep moving things along with the title company.

even if its off market, a realtor can represent you and add their commissionto the deal.

you wouldnt represent yourself in court, same idea here.