All Forum Posts by: Sebastian Gast

They have 3 tiers of the Mastery program. Their platinum level is 25k, gold is 20k, and bronce is 15k. They obviously try to sell their platinum program the hardest.

Pocket listings are pretty much listings that never reach the MLS. They are listings that get offered to you before everyone else by having a relationship with a realtor or listing agent.

The same thing is happening in Houston right now. The market is just hot and flooded with investors. Cash offers will usually have preference or you may need to go above asking price (check your numbers!). To really find the great deals, you'll have to get ahead of the MLS somehow - usually through pocket listings or lead generating marketing campaigns. Good luck!

Start at Zillow. Realtors can hate on it all they want but their Zestimates are probably within 5-10% of actual home value which is good enough for me.

Thanks guys. I'm not standing behind what my friend is doing, I just want to be informed of the implications. How does HUD enforce the 50% occupancy rule? It's not like they go around knocking on doors.

@Mark Ferguson

Not sure if this is an innovative strategy or just illegal but I would like some input. I have a friend who bought several rentals ALL with primary occupant loans (3.5-5% down). What he does is include utilities in the rent he charges, and has all the utility bills under his name and sent to a P.O. Box.

Is this a legitimate way to get out of the 20 and 30% down required for investor loans?? What would be the consequence of doing this?

I have the exact same question as you Donny! Very curious to see what people think. My guess is repair costs may vary in different markets...

If it is a true investment property, do everything with a clear financial purpose. Only knock out a wall if it will add another bedroom (higher rent), if you're updating the kitchen, focus on storage space or updated appliances. Don't necessarily put something in that will cost a bunch of money because it "looks nice" especially in a rental. All that matters is that it rents, period. But if it's your personal home and you want to customize, go crazy :)

Colleagues, I will be moving to Houston in 2 months with some cash reserves and will be hitting the ground hard in REI. My focus area will likely be North and Northwest Houston - mostly SFR. I am looking mostly for buy and hold with light rehab with strong cash flow, potentially moving into bigger flip projects. I would like to start a working relationship with someone that knows these areas and investor/occupant rules in exchange for the opportunity to broker several deals. I already have several properties pre-selected based on financials and return. Looking forward to the opportunity and the challenge!

It seems like every other day I pick up on another little tidbit of information or rules regarding Fannie Mae rules, government rules, bank rules, tax rules etc when it comes to home ownership as an occupant or an investor - 4 max mortgages rule, 1 year occupancy, size of % down, and so forth. There seem to be so many that are critical to know in order to structure the best deal... Where can I find all these? Any place I can find a good summary or source I can get info? There has to be a better way than reading through thousands of pages of government documents.