All Forum Posts by: Account Closed

I buy only owner financed properties in my town and make 10-15% cap rates. I like investing in TX :). 

I get good owner finance buyers off of Craig's List. Maybe for renters it's not as good? 

I prefer to just hold the note on a property in the 30-60k range rather than be a landlord. I get good buyers in my houses and they maintain them. Most of my buyers have zero credit and would rent forever, so despite what some in this forum claim, I provide a service to the community. But I respect people who rent out property, it's just not what I choose to do :). 

Most of our investors here in TX are out of state, which is why we usually owner finance properties for 50-60k (30k a year ago, market has changed). Why be an out of state landlord if you don't have to be? I only own owner finance homes now and I love it. 

50-60k buys you a house that will make $700-800 per month owner financed in my city. Rent is comparable. 

Buy distressed SFHs when the market is down and either rent them out or owner finance. I prefer the latter but both work. I know people in my market who bought up dozens of distressed homes in the last down turn for 30k or so each. Now those houses are 60k. I'm waiting for the next down turn to do the same. Good luck. 

congrats. that is exactly what I am doing in my city. My mentor charges me nothing. I learn how to invest in 50k distressed houses and make 12%+ cap rates with no maintenance, and he makes money off houses I buy from him. And I also help him with various REI tasks. Its a great way to learn and I am glad it is working for you too!!!!

I own free and clear properties, to the tune of 50-60k distressed homes, but I only owner finance them now. I stopped doing rentals several years back after some bad experiences. 

I either buy in cash or cash + OPM for a year or two, but no mortgages on investment properties. It takes longer to build a portfolio no doubt, but I feel completely safe, esp because I am not liable for repairs. Making a cap of 12%  or more , no repairs, and no mortgage? Peace of mind is worth a lot!

this is in the 78214 zip. 40k purchase, 50k sold price. Basic clean up, still needs rehab when I sold it. 

after, just cleaned it out, knocked out some walls, cleaned the yard up. No paint. 10k profit. 

I've also done quick flips to other investors in my market for a 5-10k profit, just a clean up of the property. It works where I am.