All Forum Posts by: Nhi Tran

Hello BiggerPockets Members -

I recently came across some duplexes for sell in Milwaukee, Wisconsin (I live in Houston, Texas). They are currently for sale at $28K with $1,200 rental income. If this is true, this is an incredible deal with huge ROI. However, I'm not familiar with the real estate market in Milwaukee and was wondering if any investors can advise whether this is a normal return on investment for this area. Besides flying up there to check out the properties in person, what kind of questions should I be asking the seller to ensure that this is legit? Thank you in advance for your comments and inputs.

Nhi

Thanks, Greg! Yes, I plan on sending a demand letter on Monday and will initiate the Small Court claims. Definitely a lesson learned. Also, a warning for any Houston investors to not deal with "Booker Holbert" or "Holbert Consulting". 

The deposit would be non-refundable if I pull out of the contract or does not want to proceed with the deal later. However, it should be refundable if he's not able to deliver clear title, and in this case, no title at all because the seller has decided not to proceed with the sale. I'm trying to avoid Small Claims court but that looks like it may be my only option. I just wanted to see if other real estate professionals have had dealings with Booker Holbert or Holbert T. Consulting and if they have experienced the same thing as me. 

The seller is not wanting to proceed with the sale anymore. 

It was EMD.

Money was deposited to Holbert Consulting. In hindsight, perhaps I should have insisted that it goes to a title company. 

Hi BP members - I was wondering if anyone in Houston has done deals with a wholesaler/assignor named "Booker T. Holbert" who runs the "Holbert Consulting" business. I was in the process of doing a deal with him, but looks like the deal fell through and now I'm having a hard time getting my EMD refunded. Just trying to see if anyone has experience with this entity before I engage an attorney.

Thanks so much,

Nhi Tran

Hi BP members, 

Can you tell me if an option period is something that is common when buying through a wholesaler? Thank you in advance!

Nhi

Hello BP members! Can I please get some recommendations for a good real estate attorney in Houston, Texas? Thank you! 

Hi Bigger Pockets members! I have an investment idea that I'm hoping the experienced members can help me analyze in terms what I need to consider and the how-to's. 

My husband I own two duplexes across from each other. Each duplex is 1,560 square feet and each is on a 10,000 sq feet lot of land. Each unit brings in $585/month. We're considering building another duplex (or perhaps even a two-story four plex) on each lot. We have enough cash on hands to build 2 additional multiplex units and do not need to take out any loan. 

With the new builds, I'm hoping to not spend more than $30K-$35K on a duplex and $60-$70K on a fourplex. I should also mention that the location is not the best. It is in a little rougher neighborhood of town. I think we should be able to get around $600/unit with the new build. 

My questions are: what do we need to consider when thinking about building the multi-units? would finding a general contract suffice? Would the GC take care of all the permitting for us or is this something we're responsible for? W'ere also not really familiar with costs - what kind of expenses do we need to consider?  Any inputs are appreciated! Thank you! 

Oh wow, thank you everyone for the the suggestions. I want to start off with rentals and have some passive income comes in. Then I want to look into buy-and-hold or even perhaps flipping. Anyone has success with the events through REIA Houston website? http://reiahouston.com/

Hi everyone! I'm new to the BiggerPockets forum and new to the real estate investing club. I'm looking for a real estate club to join in Houston, Texas that will help me learn more about the real estate business, as well as, meet and network with potential lenders, investors, etc. Can the BiggerPocket gurus recommend any good real estate clubs to join in Houston, Texas? Thank you in advance for your help!