All Forum Posts by: Robert Olgin

Quote from @John Steffen:

Investment Info:

Single-family residence buy & hold investment in Weatherford.

Purchase price: $317,000
Cash invested: $30,000

Short term primary -> long term hold with a 3.25% interest rate. New construction SFH in a B+ grade community across the street from the high school and middle school. We lived here for 18 months then placed a tenant. We are cash flow break-even, but we love the steady equity growth that requires nearly zero bandwidth to self-manage.

 Congratulations!  I also purchased a home close to your rental. I’m in Ranches West. 

I am looking for house flippers that invest in the Ranger/Eastland/Cisco, Texas area.  Please reach out to me so that we can connect.

Quote from @Greg Scott:

In the case you describe, you would be acting as a broker without a brokers license.  You would be violating the law.

On the other hand, if you put it under contract and sold the rights to the contract.  You can make money that way.  That is the reason wholesalers put properties under contract.

Thanks Greg for your reply.  I certainly do not want to break any laws.  So, wholesaling will be the way to go on this deal.  Got it.  Do I need to find a buyer first before I put this under contract or do I put it under contract then find the buyer?

Quote from @Jay Hurst:

Quote from @Robert Olgin:

I found a duplex that currently cash flows very well even with today's rates.  I would love to partner with someone on this deal, but in the event that I can't, is there such thing as an assignment fee for finding a great investment property and turning it over to someone?  I know there are assignment fees for wholesaling, but that's not what I am trying to do.  I am just trying to get paid to send this deal to someone who would benefit from it.

Any advice would be greatly appreciated.

 I mean it does really matter what you call it, but if you are assigning a contract for a fee that is the same thing as wholesaling. and I am happy to speak with you about your deal. Investor (and lender) in DFW.  

 Thanks Jay, I appreciate your response on this.

I found a duplex that currently cash flows very well even with today's rates.  I would love to partner with someone on this deal, but in the event that I can't, is there such thing as an assignment fee for finding a great investment property and turning it over to someone?  I know there are assignment fees for wholesaling, but that's not what I am trying to do.  I am just trying to get paid to send this deal to someone who would benefit from it.

Any advice would be greatly appreciated.

Does anyone know of a good home builder for a duplex in Weatherford, TX?

Eliott, I appreciate your feedback. I checked into the deed restrictions; as well as, the HOA and found out that rental properties are allowed. Luckily, with this builder I was able to secure a 5.75% conventional loan rate. I would be cash flowing about $100 per month on today's rent rates for the neighborhood that I am in. I figured once rates drop, then I will refinance and cash flow will increase.

I just sold my home and made a good amount of money to pay off all of my debt and still put 20% down on a newly built home.  I plan on living in it for a year or two and save money for my next investment.  I just wanted to get your thoughts on buying new construction and turning it into a long-term rental.  I plan on self-managing.  I figured this would be the best route to go, so that I can get some experience self-managing with minimal possibilities of issues arising.