All Forum Posts by: Mike Evans

I would have to agree with everyone else that’s commented. If it was me, I’d move without giving it much more thought than I have writing this post. Most landlords in this area are gauging because they can. Moving makes the statement you can do better for less and they’ll have to lower their price after you leave or update their property, which is what they should be doing anyway.

@Cassie Villela

I’d recommend First Service, the Bosworth company or one hour air conditioning. I have a PM in place and have used these in the past.

@Michael Monaco

What are you working on in Midland?

In this case...you want to sell a property you purchased in your name but the new property you want under you & your wife's name or an LLC entity name. Is this prohibited?

@Aaron Lenard I’d need more information than you provided obviously but if it were me I’d move on it quickly.

Is it an off market deal?

If no, than how long has it been in the market?

Why is the seller selling and why is it still on the market? (Ask the broker)

What area is it in & what are rents going for?

Have you underwritten the deal yet?

I’m in Midland as well and I struggle with the same situation of everyone asking an arm & a leg for their property when 12-15 years ago you couldn’t give land away.

I’d be happy to meetup and go over it in more detail with you if you’d like? If nothing else, tie it up then get into due diligence and try to make the deal not make sense. If it still does then you know you’ve got a deal.

Hit me up on FB or DM me for my phone number and let’s see if there is a way for us to help each other.

Mike Evans

@Adam Engleman

I don't hope for either. Both single & multi deals are hard to find but they are there and you won't find them on the MLS.

There is a correction coming but guessing when is like guessing the winning lotto numbers. 

A good property manager should be able to point you in the right direction as far as where to look. 

What do you plan to invest in? I’ve invested here in Midland & Odessa (single family) for the past ten to twelve years. The housing rental market is strong right now but It’s a cyclical market so be careful when you buy. I can also suggest a property management company if you need one. 

I use the 1.5% rule the cashflowguys talk about on their podcast. Which is essentially what you & @Hadar Orkibi are talking about. I use it as a test method to dig deeper or move on. I lean more towards the 2% deals because I like to be conversative in the event something strange or unforeseen happens. Hope this helps @Joshua Hill  

Yes sir it is! 

Hey @Jeff Filali can you email me more information at [email protected]?