All Forum Posts by: Shawn Harvey

Does any know a good plumber in Katy, Texas? BP does not have any pros under the network, unless I should look somewhere else on BP?

I have competed 5 flip to landlords and working on 6-7 now and a filp to sell. I am now being approached by private money investors (friends and family) about investing. Looking for a couple people that have borrowed or lent money with private funds. I have a few questions. Please NO hard money lenders ( I already have two HM lenders I work with on deals)

1. What rates are you doing now? Looking at 10-11% 

2. How do you handle the repairs portion? All up front or draw on escrow? If escrow, how do you set up the escrow?

3. Can title company prepare all paperwork for the lien or should I use my own real estate attorney?

4. Are you utilizing an appraiser to set ARV or comps?

Thanks for any help!

I plan on going to Trillion Dollar Mixer. Will you be there next week?

I’ve been in RE for 25 years. Started rehab to landlord 16 months ago. Working on sixth rental. 

Done all of them with HM. Looking to get into using private or self directed IRA. I have a great track record and credit.

What is best way to find private money lenders or IRA self directed lenders? I have seen websites, but the ones I have found want you to join their website for fees before seeing anything. I don't mind paying a fee once I secure the lending.

I think lunch and learn would be good. I could help arrange. 

Looking to owner finance house to current renter after 18 months of renting. Always pay on time. Property has a loan with 65%LTV. First time Owner Financing. How does taxes and insurance work? Anything else I should think about?

I have never used a home stager before as I usually rehab to landlord. I am Flipping a very nice house in Katy and think I would like to stage it. How much should it cost? this is 4/3/2. Do you normally stage all the bedrooms, Game Room, Dinning room and study?

If anyone has referral on good person or company please message me.

I wish there were more pro trades on the site. Houston has some really good GC, but expensive for low end flip. And some GC that have no clue, but preying on the poor people suffering after Hurricane. 

There were about 200,0000 homes damaged from Hurricane Harvey. 20% of them with sever damage or completely destroyed. Only 20% of those people had flood insurance. Most of these homes had sever damage with FEMA only paying a minimal amount to help. Only about 10% of these homes have been rehabbed. And another 10% have been sold. Most of the remaining houses people just walked away. Now the banks are repossessing these houses. It will take 4-6 months to process all of these houses and start auctioning them off or selling them on the open market at fractions of there original value. Many of these homes are first time floods. Many people are willing to buy a house or live in a rent house that only flooded during Hurricane Harvey as it was a once in 1000 year flood. This will trigger a buyers market in Houston with the abundance of these houses being purchased and rehabbed.

 I only started flipping to landlord about 16 months ago, but I have done 5 houses with one under contract. Plus I have been in commercial real estate for over 20 years. I help mentor several people that are on the way to developing a portfolio of proerties.

Looking to soon do a multifamily with some investors. I have two already lined up and hoping to find 1-2 more investors. 

Looking for someone who has experience in rehabbing multifamily to help mentor me.

Thanks.