All Forum Posts by: Account Closed

Awesome article...thanks for posting

I would also say that you might have to be a bit patient before the right investment deal comes along...it might take several offers/etc before you are able to get a good investment property under contract.  Maybe you'd want to visit after you have  prop under contract.    If you find a good/knowledgeable agent to guide you along with a great inspector and great subs, then you should be ok.  Again, you have to find someone who cares and who you can trust to tell you what you need to know and keep you out of trouble.

I would encourage you to look at San Antonio.  On a buy and hold you can get into the deal with 20 to 30k out of pocket and cashflow 300 to 500 per month on a buy and hold.  In Austin this is unheard of...40+ out of pocket and diminished cash flow.  

Although I would agree with what others have said here, I think its very possible to buy from out of state and i work with several investors that do that...you have to find people to be your eyes and hears who are competent and who you trust to keep you out of trouble.  

HI Wade.  That's awesome that you have that opportunity.  I bet they will move very fast.  

I would use the BP investment analysis spreadsheet...which will give you all the basic roi and cashflow. It's easy to add a row for cap rate at bottom if you want. I would skip IRR as i doubt any duplex investors will be sophisticated enough for an irr analysis.

Hi @Kevin Gentry and welcome to BP.  I am a broker and work with investors.  Of course, it depends what your criteria are but i would agree it's hard to find good roi's here in Austin.  I am about to join the San Antonio mls and start looking for deals there for my clients...i know you can get much much better roi's there and it's relatively close to Austin.  If you want i can put you on my investor list and send you potential deals as i find them.

I also wanted to confirm that the property would be a long term buy and hold.

Hello,  I want to purchase an investment property using hard money then do the repairs on the house and then refinance the property into a long term loan.  I just spoke to my lender and he tells me that there is a one year seasoning requirement on the refinance.  Meaning, i in order to finance the property at the after repaired new appraised value i would have to wait a year.  I wanted to know if this is normal...i know there are lenders that don't require this 12 month seasoning.

Hi@Austin Hughes  I'm glad you were able to get this worked out with the agent.  I understand why you thought the way you did.  In all likelyhood this agent would be doing more that just listing your property in zillow to find buyers.  If you dig into it and find out that's all he's doing then, by all means, you might decide to not work with him. But, as i said, he's probably doing more to market your property.  If he does bring a buyer through his marketing efforts then he deserves the commission.

@Jelani Joyner Welcome to the board.  Good luck in your real estate endeavors.

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