All Forum Posts by: Shawn Harvey

If you have any questions on investing I would be glad to help you out. 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 several investors.

Not sure how far south houston you live, but meetup is great place to find investor meetings. Jet Lending has a huge event each month at Redneck Country Club in Stafford. About 700-1000 people. Investors, wholesalers, lenders and vendors. Plus they usually have a real good speaker for about and hour. And best of all FREE BEER!!!!

Just have to look for deals. I have several in the $100-150k in Texas City and La Marque. I have a couple off Hwy 6 on the west side of Houston. One in Spring. Have one under contract in Navasota to close next Friday. Spring and Bear creek have some good deals on flood properties. If you wait about 6 more months there will be a buyers market on flooded properties that are REO.

I like Beaumont, but I rehab about 50% of the work myself and I live on Westside of Houston. Long drive. You can find some good deals in Beaumont. Beware most of them have termite damage or wood rot. But if you buy it right you can have that repaired.

I am downtown. I rehab/landlord. I love to buy in Texas City, La Marque and Alvin area. Let me know what you have or we can do lunch. 

Shawn

Does anyone know a way to report to credit Bureaus for rentals?

PMI is about $30-50 per $100k. You are looking at $20 increase.

You need to shop your interest rate if $55k costs $600. That is 13% interest. $55k higher loan should be $350-400 more. Even on jumbo loan. You could use the $55k to purchase 2-3 REI. That would should bring in enough to cover almost half your primary loan.

If they are wanting money upfront and not at the close from title company I would not use them.

Looking at a house needing signifcant foundation work in Houston. This is a slab foundation. Never turned a house with slab foundation repairs. What should I expect to per peir? I would expect more than a dozen. Thanks!

Want to keep you house rented in good times and bad times, find a house with a good rated High School. People will pay a higher rent for a good HS. I have a much below average property that has a high school with a 7 rating on Zillow. The house is rented as soon as it hits the market. A couple times all I did was clean the carpets. I make a higher return than on most my other properties. Purchased this property in 2012 for $80k. Rents are $1250 a month.