All Forum Posts by: Scott R.

James- How bout a vacation to Amarillo.. not too far away.. drove to altus once to buy a dirt bike.. and if you do make the vaca ill buy you lunch!
-Scott

Theres no correct answer to that question, it all depends on the person and depends on the purchase.. Anywhere can cash flow.. just find the right deal.. I live and Texas and my few rentals cash flow.. its possible to find properties that go under mikes 2% rule or close too it.. but property taxes are super high!

Got my Real Estate license at 18 as a senior in high school, got in the game a little late as AZ was already at its top and was bout have prices fall greatly... Got into a REI group throught the Real Estate school I went to and started doing property management/maintance for one of the guys 120 unit complex which taught me alot..
Arizona was too high priced to invest in, so I moved to Amarillo, Tx bought my first investment at 20. Started selling cars bout two years ago, then that also went to crap and the dealership shut down. Seems like any career path I head into shortly goes to crap after I enter it..
Been VERY interested in RE since I was young.. Currently I wait tables part time and rehab/study real estate with the majority of my time... Just need more financing!!!
-Scott

anyone who has not owned a primary residence in the last 3 years is eligible. Although as stated above its says 10% of the purchase price up to $8000. so a $5000 house you would recieve $500. As it sits right now the property must close by end of november.
-Scott

Amarillo, Tx. I believe there is 2 different hud offices here, this is specifically the Panhandle Hud office.. just not sure what to do.. I mean I guess ill get the money eventually.. just tired of waiting.!

Mike-
When you talk about picking up your rent money, are you talking bout your apartment complex's mostly or single family?
Another questionf or you mike and everyone else, how far apart are most of your rentals? do you stay in one area or buy where ever the price is right?
-Scott

First time dealing with section 8/hud..

Tenant moved in Sept 1st, 2009.. just started there 2nd month living there, tenant on section 8, all bills paid for unit at $850/mo.
No payment has been recieved, everytime i call the hud office theres some BS about why I havent been paid.. Now not only am I into my second month of no payment, which isnt late until the 3rd.. but im out $300 on utilities I already had to pay.. and section 8 just keeps telling me all the paperwork is still being processed, and keep telling me ill have my money yet those dates they tell me keep passing.. what do i do!? at what point do I evict this tenant?
-Scott

Had this happen last month in Texas. Tenant up and moved to AZ, no notification, nothing. Neighbors told me she had left, So I posted 3 day notice, abandonment notice and lockout notice, found out a few days later the tenants cousin was given the key and told she and her boyfriend could live there.. long story short called cops and trespassed them after they refused to leave.
Told cops I had no clue who they were and they were not on the lease, tenant abandoned the property.

Post no trespassing signs and call the cops the next day saying someone is trespassing!

I moved for real estate about 2 years ago.. Moved from Tucson, Az to Amarillo, Tx.. smart move.. tons of cash flow properties.. Hard game as far as wholesaling.. Ryan Webber from this board does most wholesales along with a few other big names here in town.. Not the best place to move for those Id say.. If Phoenix, Az was in the shape it is now back then I would of moved there instead for sure.. Property is cheap, tons to choose from and lots of hard money avaible from what I can tell.. Big problem is, once you move where is your financing coming from!? Learned that the hard way, banks are way too tight now a days..

The actual rate for the loan is 12 due to several reasons.. one being the money down, but i cannot verify my income, there loaning based on the income the property produces.
I actually did most maintance as well as management previously.
It is financing set up through the seller.. but its actually a hard money guy as far as i understand that is related to the seller i believe.