All Forum Posts by: Sandy Sawyer

Hi @Daniel Wrentz You are right, it's this market. It's not behaving in a way that BP has taught us to look for the deals on the market, because anything listed is being snatched up by out-of-town investors. The issue is, unless you have boots on the ground it's super hard to even tell if it was flooded in Hurricane Harvey! Believe it or not, some sellers lie on their listings. I'm looking ahead in the distance at that big black cloud called Foreclosure! Keep this in mind and don't get too caught up in the frenzy. That said, if you are a buy-and-hold investor with some cash reserves, time should be on your side if you happen to buy higher than the 1% rule dictates. For instance there's a house needing some repairs listed right now for $180,000 and rental comps at $1,500/month. As far as finding on the MLS, that's about as close as they come. Otherwise, you'll have to go the wholesale route. It really is a good-old-boy network around here. The prime deals go to their solid repeat cash buyers before they blast it out to everyone else. Hope this helps some.

@Darnell Edwards well we’re practically neighbors then! Let me know if you need help with anything!

@Darnell Edwards

In my opinion, Houston is a hot market because people are moving here for jobs. Remember 2008? While people were setting up tent cities in California living on the sidewalk, Rick Perry was advertising to move to Texas. And it started working! How many people do you know that live in Katy right now that are from California? And as a California native I can tell you that Katy feels closest to home when I go there. And for a fraction of the cost of living on the coast. Now that COVID has taught people to work from home, how many people do you imagine moving here from NYC? Our houses are like mansions to them, compared to the shoebox they live in and cheaper!

Where do you plan to live? Or where would you like to visit that can become a tax-free trip? Build your business to pay for your lifestyle!

@Kenneth Sok, @Chris Bounds

Great comments! I'd never heard of Titans before, been a member of REIA years ago and attended their free 3-day seminar. It was really one huge commercial to up sell a big dog package. But I took good notes and learned a lot. (Even met someone that happened to live in my complex & we went bird-dogging together later.) My husband & I have been to many of the Jet Lending events. I recommend going to that if you haven't. Free food & beer while you learn and network! Made possible with help of vendors that set up booths outside.

Hey @Oscar Song We've been in Houston since 2005, run an IT business since 1994. (Yeah we were building computers before Walmart had them) We don't advertise at all, just word of mouth and have plenty of work still even during 2020. I'd say the main industries here supporting the economy are medical, oil/gas, and logistics (there's a major port here). I'm also a Realtor and investor. We attempted to move to Austin instead but at the time lots of IT jobs were being let go. I look at Austin as the Silicon Valley of the midwest.

Hi Osvaldo, I'll PM you a GC that I've used. I am not a flipper, so normally only use subs, but this one remodeled my bathroom and some other stuff, did a nice job. 

I sort of have an upside-down approach I guess. While Real Estate Investing 101 probably says that tenants come and go, but you have to maintain the property, my belief is that properties come and go but you need to take good care of your tenant for life. That's why I only invest in my own back yard (which happens to be pretty good). I don't have to hire a property manager. Nobody cares for my property (or my tenants) like I do. But if Houston wasn't such a great place to invest, I suppose I'd pick from one of the lists mentioned above that I would love to visit regularly. Build a lifestyle that fits your style, and a business (or businesses) that pay for that lifestyle tax free. 

Yes, things have been a little crazy. But when the pot gets stirred up, things float to the top! There are bound to be opportunities for you coming along! It takes patience and just being good to people and letting them know what you're doing.

Hi @Shelby Bybee,

Each state has its peculiar laws, so definitely run it through a MO law firm. One weird idea might be to let your dad just keep it in his name. Have his will include the property "deed on death" to you. You maintain it as a rental and pay all the bills (of course with rental income). He will see that you are really the one taking care of his business. It will be a no-brainer to bequeath the home to you.