All Forum Posts by: Mike Johnson

@Robert S. Appreciate the catch. If we supply property maintenance, the first year is covered ($120 setup fee would still apply) and then monthly fee in year 2+.

Excellent buy and hold property becoming available (off market).

New construction is positioned in area of San Antonio that has low vacancies. House will qualify for housing vouchers (sec. 8) and the advantages of that program.

Tenant will be guaranteed for first year. Also, if interested, potential access to 1st year loan at 70% LTV - no credit check, no appraisal, no income tax returns. 1st year maintenance/repairs included (home warranty applies).

More of these new construction, buy and hold properties to be available as well. If adding multiples to your portfolio, ask about property management volume discount.

Unlevered monthly cash flows at ~$800+/mo.; leveraged cash flows ~$350+/mo.

Thanks @Jason Hirko These aren't exact numbers, but for sake of discussion let's say their contribution averages 10-15k per house, they are not guarantor on construction loan, and projected profit is $25k per house...Would you ballpark a flat number or percentage based on what you see?

Seeking input on what to offer partners...

We're building 3BR/2BA homes in San Antonio, TX for the sub $200K market. At this point, we are ready to start at least 4...We have the lots and construction financing in place. We're ready to pull permits and we can build...

We'd like to find JV partners that will cover closing costs for a reasonable share in profit. What would you offer someone to participate? Flat fee, percentage, something else? And would you treat them as individual JV's or as a single package?

For background - these are aprox. 1000sq ft and will retail around $120k to $125k depending on neighborhood.

@Jason Ling - This is definitely a sweet spot "I would then turn my efforts on trying to predict when a homeowner is willing to sell their property in an effort to try to seek out off-market deals before anyone else is aware of them."

It reminds of the case where Target knew someone was pregnant based on seemingly unrelated purchases...

You're getting good feedback, but until you make the switch you may want to reset the gvoice caller id settings to show which number they're calling from...for example, you can either set gvoice caller id to show the gvoice number or the end callers number. I had to redo that process recently and it wasn't entirely obvious. You have to go into the "Classic Google Voice" interface to update the caller id settings. 

If you do that, the caller id could be labeled something like "GV PropMgmt" and the second "GV Prospects" or whatever fits your model. You won't see the caller's number on the incoming call when you do this, but it's always available in the gvoice web interface (and maybe the app too?).

Another vote for Xero. I liked being able to push out and track POs with my construction management app. That functionality may be in QBO also, but our setup was pretty seamlesss... 

Hi All - I've been reading BP for awhile, but knew it was time to join the community and participate!

I've been involved in flips, new construction and various rehab projects for quite some time thanks to family mentoring. For better or worse (actually, better) the business seems to be scaling up and I find myself reading BP more frequently to glean advice from more seasoned investors...

As an aside, we have built our first shipping container home and are starting on another similar project, in addition to building affordable homes primarily in the San Antonio area.

 -Mike