All Forum Posts by: Account Closed

Nice work! Love to see other people doing well with affordable homes, and you are providing a good service to the community. My houses cost more like $50,000 and we owner finance them to qualified buyers - I don't do any repairs after the initial cleanup after closing. Well done!

You sound like me, I am a writer and editor online but also do a lot of real estate investing these days. 

I dunno about ALWAYS, but I like my 12-15% cap rate owner finance houses here in TX that cost 50 or 60k. :) I remember the bad old days when I was a landlord with mortgages.....

If you fear a downturn, you may want to consider investing in another type of real estate. I used to invest in rental houses that went cash flow negative in a down turn. That's why I do not do rentals anymore. 

I personally look forward to the next downturn. My 60k owner financed houses I buy in my city will then cost 35 or 40k again, and I'll buy even more. And the demand for affordable homes only goes up in a downturn. 

Since I discovered this type of REI, my life is a lot less stressful. :)

Consider owner financing your out of state properties so you are not a landlord. I only owner finance my houses in Texas and it's a great way to invest. I make 14-16% cap rates on all of my houses, and my buyers repair them. It's a great program. :)

I owner finance my ~60k houses and my end buyers maintain them. You have to be sure you get a 'good' buyer who is going to take care of the house, but it works well in my town. 

Flipping is great, but I prefer buying and holding in cash with owner financing. I clear $800 a property and never have to repair it. I'll leave the landlording to other people on this board. 

I am closing on this house north of downtown San Antonio this week. Purchase price is $48,000 (got a 7k discount), will put $5000 into it for paint and minor repairs. 

Planned exit strategy is to owner finance it to a blue collar family, $5000 down, $895 per month, $80,000~ final price. 

16%~ cap rate when I locate the qualified buyer, and I am not a landlord. 

In other words, life is grand. :)

I have a good TK provider in Kansas City that sold me a house on E 104th street, I am happy with it. 

I buy and flip cheap houses under 60k in San Antonio and have done quite well with it. Austin must be rough for a newbie?