All Forum Posts by: Cuong Le

We have it in our lease that we may charge $50/trip. We have our handy man do the work and we bill the tenant for it. We had our door broken into a few weeks ago and it costs about $175 to fix the door frame, paint, caulk, door guards and add 3" screws into the frame for the deadbolt strike plate and latch plate.

We use this (StrikeMaster II Pro) on our own homes and will consider using this on future properties. It costs about $80 and it's pretty impossible to kick in.

We never pay money upfront unless we use a reputable licensed/insured & bonded company that was referred to us and a contract has been signed by both parties. Only then, we pay as they complete specific milestones and ask for a lien waiver from contractors at the end of project in exchange for their final payment.

Hi @Kevin Knight and welcome to BP! Your background will definitely serve you well and you can share your commercial real estate experience as well. What are you trying to do with real estate? What ever you decide, stick to that one strategy until you're an expert at it before going to the next.

@Bryan Hancock I thought you meant Bone Daddy's for a second but haven't been to Austin in awhile so I guess there's a Big Daddy's near that area now. I remembered the food at Bone Daddy's was actually good not like the others. Sorry for side tracking here.

Hi @Gene Hazley and welcome to BP! First of all, thanks for your service!

I visit my parents often in Arlington which is in the general area of Keller. As you can see, lots of local investors in your area. Stay active on the forums as well as network outside BP. You'll meet amazing and very keen investors that are more than happy to connect with you.

Have you thought about partnering up with someone to help you get your 2-4 properties/year?

Thanks @Brian Nguyen and @Charles Nguyen for setting this up but I won't be able to make it. Let us know if I can help with anything else in the meantime.

Hi @Blake Williams and welcome to BP! Having your father in the RE business is a great resource. Definitely pick his brains and use his resources where you can. Stay engaged, ask lots of questions and welcome at least 3 new folks every day (you'll quickly build your network). Glad you're on board and we'll see you around.

Hi @Anil Sinha

We too are finishing up a rehab for a rental house we found on HAR. We made an offer below asking price knowing what the house needed but we didn't get it at first. They came back accepting our offer since the first offer backed out (it needed new roof, furnace, foundation work, etc).

@William Alvarez is right. You need to have everything ready to go to make that offer and most houses would need to be at least asking price or more to have some chance.

Hi @Shalan Winter and welcome to BP! There are quite a few Houston BPs here so you came to the right place.

If you haven't done so, listen to podcast 27 with Sam Craven and hear how he works full time and is doing well as a wholesaler. Have you "why" written down too because this will keep you going. Glad you're taking steps toward your goals. See you around!

Hi @Jason Everly.

You can save some money on the website by doing Wix.com; Brandon Turner wrote an article about setting up your website under a few hours with Wix here. It's inexpensive or you can do the free route until you're ready to expand.

Do you have someone outside your area or near you that you can partner up with? You can get some experience while you're building up your war chest.

Hi @Vivian D. Hard money is what we've been using and is a great way to leverage your money. The price is a bit high for hard money but it's a short term (1-2 months) before you refinance to a conventional loan.

Rough estimate for two closing (hard money and conventional) is about $10k for a property about $100k. This way, you don't have to worry about the usual 20 - 25% down payment and the loan can cover some or all of your rehab costs depending on the After Repair Value of the property. Let us know if we could help in any way.