All Forum Posts by: Sandra MacKenzie

Thank you all for taking the time to answer. I am having difficulty pulling the trigger on this deal. It seems to work on paper, margins aren't great given the hard money interest rate/fees. But for my first deal if I come out with 10K profit in under 3 months I'd be ok with that. I just feel like I am missing something as this is a cosmetic flip and no one is jumping on it. It's on MLS.

Has anyone worked with Catalyst Funding out of Houston, TX?  I got pre-approved with them on the recommendation of a fellow investor.  Now looking at my first flip, crunching numbers and had Catalyst provide a loan estimate.  Yikes!  12.99% interest rate which I expected but also 3% origination fee which I did not expect.  Does this sound about right?  Am I getting the worst numbers because I have no track record?  The pre-approval process was so involved (I am self-employed) I hate to go through that with another lender.  Do most investors try and work with one lender or do you go where you get the best deal everytime?

As an Interior Designer that has worked in the commercial as well as residential sector for 34 years, I would say there are two types of clients.  One who wants it fast and is really not too interested in innovation or originality and the second comes to a designer and architect for just that reason, innovation & originality.  AI takes what already exists digitally to cobble together ideas so that will satisfy the first type of client.  And much like all new things it will become the most cost effective option at some point.  So there certainly will be a market for this type of AI work.  But there will always be the second client who does not want what has been seen before and wants the personal experience of someone catering to their design whims.  I also really don’t think AI is nuanced enough to create such personal spaces.  Also we are assuming people always know what they want…that is half the battle when working with clients!  

Just came across this event, is it still on?  And is it at Shaw Real Estate?

If you are renting it out, my understanding is you cannot get a HELOC on a rental property or even use the money from a HELOC to purchase another property in Texas. I have looked into this myself and was frustrated that I could not do it. I was offered a Home Equity Loan instead (higher interest and stricter).

I'm in!

Given these uncertain times, what's better renting a house for a year and keeping my $$ liquid or buying a house, paying cash, house hack & HELOC/refinancing asap to get the cash out? I cannot get a mortgage right now (long story) and a chunk of the money I would need to buy is in another country. I would take a 25% hit in exchange right now but things may change in a few months. I really do not want to rent but financially it may be my best bet. I have kids and I am divorcing so I am limited to where I can look for a house to live in. What do you think?

Nina,  

I too am looking for the same list, Brazoria County as well.  Hope someone can help!

Thanks!