All Forum Posts by: Sev Kamensky

@Carrie Hiner Thanks for the reply.  Mobile homes is another way to go. They might be great in terms of cash flow, but don't appreciate as much as a good prefeb or stick built home.

@Rob Harris The financing would be based on a construction loan that gets converted to mortgage at the end of construction. I think Broadway bank and Regions bank in Austin offer these loans.

For me finding a cost effective builder is the current challenge.

Does anyone on BP Texas forum have any experience building Prefab Multi-Family properties in Texas? If yes, is there a builder you would recommend?

 There are a number of well priced lots once you go a little outside the major metro areas (Austin, SA, Houston). I think it would be a good site for a duplex/fourplex property.

I've polled some local builders in the Austin area and they charge anywhere from $120-$180/sq.ft. Building a stick build 4000 sq.ft fourplex with these builders in not cost effective, so that's why i wanted to check if anyone has experience with prefab properties.

Hi,

I have a duplex under contract for $253K in a great area of San Antonio. The MLS listing price is $259K. This is an MLS property, I'm working with an agent and I can reassign the TREC contract. 10 day option period starts 06/09/2016. The property is built in 2013. 2490 sq.ft. Zip code: 78238. Total rent: $2300. Very good buy and hold potential and minimal maintenance costs. Here's the seller's description:

Fully occupied! Sellers are selling property as duplexes. Conveniently located near the Medical Center, Loop 410, USAA, and UTSA. Each unit is a 3 bedroom 2 1/2 bath with a 1 car garage. Tray ceilings with crown molding and ceiling fan in the living room. Granite countertops and all black appliances in kitchen. Nice backyard with privacy fence. Stained concrete flooring on the first floor with carpet upstairs.

Send me a message if you're interested.

Thanks for the feedback guys. This was more of an offer for anyone who is interested. I believe this property has very good potential. It's in a very nice low crime area with big employers and a university within a 10mi radius. The area is appreciating at $1.2/sq.ft per year. Initially i wanted to buy it for myself, however, due to personal circumstances I cannot close on it at this point in time.

Hi,

I have a duplex under contract for $253K in a great area of San Antonio. The MLS listing price is $259K. This is an MLS property, I'm working with an agent and I can reassign the TREC contract. 10 day option period starts 06/08/2016. The property is built in 2013. 2490 sq.ft. Zip code: 78238. Total rent: $2300. Very good buy and hold potential and minimal maintenance costs. Here's the seller's description:

Fully occupied! Sellers are selling property as duplexes. Conveniently located near the Medical Center, Loop 410, USAA, and UTSA. Each unit is a 3 bedroom 2 1/2 bath with a 1 car garage. Tray ceilings with crown molding and ceiling fan in the living room. Granite countertops and all black appliances in kitchen. Nice backyard with privacy fence. Stained concrete flooring on the first floor with carpet upstairs.

Send me a message if you're interested.

-Sev

Hi @Kyle Baer, I've sent you a PM.

Thanks for all the great resources guys. I'll look forward to being part of this community.

-Sev

Hi, my name is Sev and live in Austin, TX. I currently work as an engineer for one major tech companies in Austin. I love my job as an engineer, but I'm always looking for ways to make more money. Over the last few years I've explored a lot of ways of making money online from website building, affiliate marketing to trading (stocks,forex). I currently have a small cash flow from these activities, however, it is nothing compared to potential cash flow you can generate from real estate investments.

In short term I would like to absorb as much as I can from BP. It's a real gold mine of information. I'm starting to look for wholesale and rehab deals at online auction sites (zillow, auction.com). I've opened an LLC and I would like to fund my first deal with a real estate Investment loan from a credit union.

I'm really happy I found this site before buying a coaching and mentorship educational package from some of the real estate gurus like Fortune Builders who recently had one of their workshops here in Austin.

As Jim Rohn said “Formal education will make you a living; self-education will make you a fortune.”. I'm exited to learn from all of you guys at BP.

-Sev