Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Olivia Vanover

Olivia Vanover has started 1 posts and replied 8 times.

Hi Tochi

It depends on how much you want to spend. You can definitely find neighborhoods without HOA around the area, but without knowing what price range, it is hard to tell you where areas to look into.

Hello Brendan,

Absolutely, I do. I am out of town until tomorrow midday, but please send me a PM with your phone number and I’ll call you as soon as I get back to Houston. 

There are some episodes that talk about the pros and cons of doing AirBNB and they are right on target. It is so much easier to do yearly leases. AirBNB is constant upkeeping and constant having to keep your clients happy so that they don't give you a bad review. But when you do a normal lease, if the house is in good shape and you choose the right tenants, then you just receive payment every month and "forget" about it. 

Hello Donald,

I had an AirBNB for a short time in Spring Branch close to IKEA and it did pretty well. I'd recommend you have an idea of whether you are looking at corporate tenants, tourists, or those coming for medical reasons and then look close to the areas of town that would be closer to the places that serve your target clients. I feel it is easier to market for a certain niche in Houston since it is such a huge city. I'd recommend you look around the Medical Center, Galleria, and midtown too. It really depends on your budget and target tenants. 

Hi Lisa,

I sent you a PM if you'd like to give me a call, I can recommend a contractor in the area and handymen. I've been in the remodeling business in Houston for a while, so I know a few people. 

@Eric Veronica and @Melvin List

I haven't tried to get a HELOC or any other loan since I started working 5 months ago. I tried my credit union bank and Chase, the banks I work with, thinking that my passive income and having all my assets all paid for would be enough to get a loan, but it was not. I would think that my work income and the rental income should support a new loan, but I was told by my bank that I needed two years of work income for them to support a loan so that sort of stuck to my head. I had been quite frustrated with the length of time I would have to wait. I am now studying hard money lenders to see if that is the better way to go. I have a 750 credit score and savings, so that should not be a problem, I hope.

Thank you so much to all of you for all the information. I truly appreciate it!

Olivia Vanover

Hello Stephanie,

Sorry for the late response. I am excited to hear from so many of you that there are loans out there to start back up in the flipping business. Thank you so much for the advice. I will be studying all these options in depth to not be surprised at the end with some charges that I was never made aware of.

Thank you and great luck to you too.

Olivia Vanover

Hello,

A few years ago, I flipped a couple houses in Houston, TX and also I bought a couple of houses that I currently rent. I bought one as an investment for rental purposes and the other one was my primary home, but ended up renting it.  The latter one is a $370,000.00 home that rents for $2675.00/month (completely paid for). I am planning on selling it this coming Summer when the contract is up to buy a couple single family homes that cash flow better than this one. Both of my houses are completely paid for. I am looking for a way to get a loan to buy a house sooner than this Summer, but I am having a hard time securing a loan because I did not work the past few years. I currently have a job and I have savings but do not want to use it all to buy another house. My goal right now is to buy and flip, but long-term (in the next 3-4 years) is to have several rental properties.  Any ideas on where to find a loan or what kind of loan should I be looking for?

Thanks in advance for the help!