All Forum Posts by: Polo Vazquez

So this varies by state. Some states don't allow this, others require that you are notified and that you agree to this. If you request it, it is very likely the agents broker can appoint another agent to the buyer or yourself so that each has their own advisor. 

Here in Texas, we are allowed to do this but must act unbiased. Meaning we cannot disclose any important information to either side and can no longer really participate in negotiations anymore. At this point, we act solely as messengers/transaction coordinators that are helping the transaction go smoothly by filling out contracts, makin sure eveything gets done in time etc.

I've acted as a dual agent myself but, since I can see the seller's concern, I always offer to lower my comission hence passing most of the savings back to the seller. I let the seller know of this prior to him accepting the offer so he can know exactly what he is getting. 

If you are worried about waiting why don't you just buy one that has already been built? There a lot of fourplexes for sale in the RGV at better prices than new constructions. The way things are looking it is very possible that by the time the builder finishes rates might be upwards of 6%.

Can you give more details of what you are trying to do?

I  used Laura Migliore from Chicago Title when I lived there. They did and outstanding job. Nowdays you don't have to use a loca title company anymore though. There are some remote ones that work more efficiently as well.

Best Buy has good discounts if it's around any holiday. Even president's day. As far as where I buy them, I give it a quick look around facebook marketplace to see if there is anybody just trying to get rid of their appliances. If I can't finde anything a I go to a local used appliances lot and buy whatever looks in the best shape.

I used My Title Company of Texas once and I was very impressed. They would call me to remind me to order things and such instead of me having to call them to get moving haha

It would help if you tell us what city and state you are in since some cities have waaaaaaaay more strict and agressive rules than others. In my city, this happens a lot. Most of the time the city just slaps them on the wrist, gives them a small fine and then grant them the permit. This is not always the case though. I have seen them close down whole trailer parks because the owner never asked for permission.

You don't have the cash flow or cash to do the rehab? I'm a little confused. If you don't have the cash for the rehab here is a few options. Take into consideration that they all carry risk.

1. You can borrow from against your primary home. You can either do a cash out refinance or a HELOC and borrow against your priamry residency and use that money to finish the rehab on the church and get those rents going

2. You can fid investors to put some cash but in return they are going to want a piece of the property. Meaning the property will no longer be only yours.

3. You can borrow money with a personal loan. If the quantity you need is not that high, you can borrow money from a credit union or bank and do the rehab, get those units rented, then do a cash out refinance on the church itself to pay back the personal loan. I've done this before. My credit union charged me no origination costs and 8% interest.

4. Use a hard money lender. If the hard money lender finds value on what you are trying to do, he will lend you the money. Their loans tend to be expensive though.

I'm sure there are more options but those are few.

I just helped a client buy a house with a similar problem after a foundation repair. Bid to repair was around $6000. There is lot of work to be done when you have to fix a pipe leaking into the foundation.

The Rio Grande Valley has multifamily properties (fourplexes) from 250k to 450k. You can can also make good money on short term rentals because we are on the border and Mexicans come vacation/shop here a lot. Winter Texans are also a big thing. They will rent you Airbnb for the whole Winter. You want to see some examples of properties here you can look at my portfolio in my profile.

So you are going to house hack and use conventional or fha mortgages to finance the properties. That works. Make sur eyou have a stable w2 or a way to prove good income so you won't have problems to get these mortgages.