All Forum Posts by: Scott Bolinger

@Marshall Hooper that's really helpful, this property is in the 100 year flood plain. Would you recommend staying away from that completely?

@Marshall Hooper zip code is 77069-1471, sorry I'm from out of town

@Marshall Hooper It's in Harris County

I'm currently looking at a deal in Houston, PP is 200k, estimated repairs 80K, ARV 400K.

Anyone familiar with the area know what to look out for in this type of situation? There are a lot of unknowns dealing with a flooded house, any advice is helpful.

Thanks!

I usually only go to south OC meetups, but I'm always looking to meet new people. Will send you a PM.

I'm looking into partnering with some other investors. I would be the money, they find the deal and have the rehab team.

I know I need to do all of my due diligence, have a contract, etc. but I'm looking for specific tips that I might miss.

Should I do a background check on the other guys? Any specific things in the contract that I need to make sure to include?

Any help is appreciated. Thanks!

@Jimmy Anthony I think it depends on how much over your mortgage you are making. If it's enough to cover maintenance and vacancy costs, and you anticipate appreciation, I'd say yes. The problem is that if you are breaking even and something goes wrong that you don't anticipate, then you could be in a bad spot.

Personally I'm looking for properties that cash flow enough to cover the worst case scenario, not necessarily to make profit on the rent payments each month.

I purchased in Memphis through a turn key company, you can also just call realtors directly in the area you want to invest. It's not hard to get deals out of state somewhere like that, but when you start looking at more competitive markets it gets much more difficult. 

Picking a market is hard, but once you do I'd just call realtors, property managers, brokers, etc and talk to them. Ping people here on Bigger Pockets in those markets and ask them about it. If it was easy everyone would be doing it :)

Hey all, I'm in Mission Viejo looking to network with other investors. It seems like I'm always busy when there's a meetup, but I still want to connect with people.

Specifically I'm interested in out of state SFR investing. I own a property in Memphis, I'm currently looking for a deal in an appreciation market like Vegas or Reno.

Mostly just looking to chat with like minded people, let me know if you're interested.

Cheers!

I just read a John Burns report, he thinks that economic indicators mostly look good for the next year. He says that home prices are 17% overpriced today, and that there is a 68% chance of a recession in the next 4 years.

Who knows if that is true. Personally I'm buying right now, but in a couple years I want to have some cash available to take advantage of opportunity, especially in Southern California.