All Forum Posts by: Naeem Kapasi

Hey guys, need some advice from the community. I am looking to buy my first deal which I will be living in for a year.

I have found a FSBO in the neighborhood that I am looking at in Houston.

It is a 4bed/2.5 bath, 2250 sqft single family home.

I have looked up a few numbers.

Appraised Value: $134,000 (HCAD)

Total Market Value: $142,000 (HCAD)

Taxes are about $220/month (HCAD)

Mortgage Payment: $610/month (used zillow mortgage calculator)

Insurance; $100/month

Others (HOA, WSG): $50/month

Vacancy: $160/month

Cap.Ex: $160/month

I do not know anything about repairs on this property as I have not seen it, but considering it is built in 1978 and the current owner has been there since 1999, it will need quite a few updates.

Conservative Rental Income: $1600/month (Trulia.com)

Cashflow: roughly $300/month

The only things I am a little concerned about is:

- Elementary school is a 2 out of 10 on Trulia (Middle school 5/10 and High school is 8/10)

- Not a very big back yard, still ok sized, but not a lot.

Any feedback would be appreciated :)

Welcome to BP @Sohail Ahmed. Make sure to read the Ultimate Beginners Guide at www.biggerpockets.com/UBG, it will give you a good overview of how you can make money in REI.

Thank you for your input @Jennifer Lee! I agree with you, it is important to find a broker who has the same values as you do, which is why I want to find a broker who invests in real estate as well and not only sells retail. 

@Jordan Schneider, thank you for the support! Yeah, the REO department idea is a good one, then I can get access to the kind of leads I want. I agree, I am not really too much worried about the split as of now because the main focus is to learn. Once I know my stuff, I can focus on the dough :)

Thank you @Shawn Ackerman!

Thanks @Timmi Ryerson

Fellow investor friends!

I am in the process of getting my real estate license in Houston, Texas! The reason I am getting my license is to support my real estate investing and also help other investors out with whatever I can help them with as an agent. I have a full time job in the O&G industry, which I want to transition out of eventually so that I can focus on real estate investing full time. But for now, I would be working as a part time agent and am looking for a broker that can sponsor me. I would prefer if the broker is an investor as well, so that he/she can sprinkle some experience and wisdom on me! 

If you know of a broker that would be interested in having a conversation about it, please let me know :) 

Thank you in advance for any replies.

Hey @Roxanna Gross! Welcome to BP!

Are you a broker or a Realtor?

Hey @Account Closed, great question!

Allow myself to piggy back on your post here, I am also getting my RE license very soon and am looking for a sponsoring broker. My primary purpose of getting the license is for investments, but if someone wants to sell their house or buy a house, I am up for that as well! I am working a full time job right now, but want to transition into real estate investing full time.

Feel free to recommend any sponsoring brokers :D

Hey @Chris Marten, welcome to BP! For ideas on what to invest in, make sure to read The Ultimate Beginners Guide at www.biggerpockets.com/ubg

Also, since you're low on capital, you might want to check out "The book on investing in real estate with no and low money down" by @Brandon Turner