All Forum Posts by: Robin Frazier

It all depends on the amount of risk you are willing to take. Paid off homes have less risk, unless you look at them as targets for lawsuits. I have heard of people targeting paid off property owners for lawsuits. Lawyers are less likely to file suit on property that is leveraged because all they would win is the equity. The loan is still in affect.

You can accelerate the velocity of money by leveraging your equity for faster growth, but it is a balancing act.

For a long time I was all in favor of owning with no mortgage, but I wasn't growing fast enough so now I like leverage. 

It's a personal choice, there is really no right or wrong answer. And if someone tells you different, it just their opinion.

If you paid $195,000 and spent another $25,000 remodeling it, you are all in for $220,000.

If you sell for $130,000 minus $7,800 in commission and $5000 in closing cost, you would have  $117,200 left.

You're losing $102,800. That is some seriously expensive education. I really hope you had a typo and get more for your property. 

I would see if the rent would outweigh the expenses to hold it and go that rout before losing so much money.

@Mark Sewell

Makes no sense to cutback in a department that ensures city growth, just raise the price and keep the gears turning. Time wasted on permits and inspections gets expensive.

@Jake Clement

I have not done one in Houston but I am doing a sfh to multifamily conversation in Chambers County at this moment. I too will be looking into Houston market soon. Please keep us informed on obstacles you encounter.

@Cameron Lim

If I’m not mistaken you can buy a primary residence for as little as 3% down and I think you can buy a first time homebuyer loan once a year.

Welcome to BP. I am in Baytown too. 

Is it common for a hard money lender to ask for a title report before executing the contract?

I have a contract to buy a home but my hard money lender wants a title report before I get the contract between the seller and I signed. She is insisting on getting a title report now.

I thought you get that at closing before funding.

Can new construction on leased land be financed.

My dad owns two city lots that he wants to partner on but he really just wants to lease me the lots because I will inherit the lots at his passing. He will not sell them to me.

How could I structure this where he can have his income, and I can build a duplex on each city lot?

Of course i will need some financing for this project.

@Darren Eady

Give me your hard money details please.

@Barbara Gordon

How is your wholesaling business going? Im looking for a project in the baytown area.