All Forum Posts by: Scott Royer

Hi friends - I have a couple of vacant lots in Buffalo and live in Texas. I was hoping to try and connect with anyone local that has experience in new build and might even be open to a JV. I'd love to get these developed to sell either to an end consumer or rented and sold to investors. Thanks for any help that's out there!

Has anyone had any luck getting insurance for rentals in Baytown and if so can you provide me who you used?  I have a pier and beam foundation and have had Texas fair plan for two years but they are refusing to renew it unless 3 other companies turn me down. 

Hi gang - I'm picking up a house in Katy and need some help getting it complete as my normal guy has cancer. I'll closing in two weeks and starting about two weeks after that. The project doesn't need a lot of heavy lifting and will probably take a small crew of 2-3 guys about 7-10 days to complete. Scope of work is below.

If you want to take it on or know someone please PM me

Paint touch up throughout

New floor tile in two guest baths and replace vanities

Replace tub in master and redo shower

Remove carpet

Replace some trim/casing where it's outdated

Replace lighting throughout

@Ryan O'Leary good luck on your journey, I've done both local and long distance investing anD I'll be honest that I wouldn't have wanted to start long distance. If you have a great PM it can help but I'm also a hands on person who likes to be able to see and help when possible. If you want to do long distance find yourself a couple of local.jnvestors or turn key guys/gals and schedule yourself a trip. That way you can see the area, meet your support team and make sure you're ready for the leap.

We airbnb'd out place for a year and actually liked the fact that they screen folks ahead of time.  You often have folks make reservations at the last minute and their system gives owners a piece of mind.  As a user the sign up process is easy and straight forward and once you're signed up you can send any owner a note and even negotiate longer stays with them fairly easily.  Maybe the problem is on your side?  They are a $50billion start up that has single handily created a revenue stream for owners that didn't exist 5 years ago so they may be doing right...

@Jason Krawitz thanks for sharing and I for one encourage you to keep it up. You're doing something that most people won't and your customers will reward you for that. Lets remember that wholesalers are dealing with real people with real problems and if you approach it as a compassionate person presenting a win win solution you will get your contracts AND earn a solid reputation for yourself (which let's be honest more wholesalers need).

Lastly what you did with this post is build accountability to yourself, KEEP IT UP!

Thanks so much for the great feedback and advice everyone, lots to think about.

My tenant of 3 years is interested in converting his next lease renewal to an owner finance purchase and I was hoping someone might have some examples of what they've done in the past. They don't have the cash to do a normal down payment. Some relevant financials are below...any help from the crowd would be appreciated as if like to explore this and do a 1031 in two years. Current rent - $850 Current property value - $75kish No current mortgage Located outside Houston and appreciating at around 4% a year If tenant moves I'd do maybe $20k in renovations to update kitchen, floorplan and exterior siding but house is functional

@Claudia Starr try looking online, I've use AIM Loan and they have great fees compared to most Banks and also used Academy Mortgage for my last property. Both companies we're easy to work with and we got closed quickly although they are very tight on making sure your personal credit and ratios are inline, if there's any doubt there go with a mortgage broker or a company offering bridge loans till you can get qualified. Hope this helps

Great honest post with lessons learned and it’s amazing that you shared the journey with a newer person.  Keep up the good fortune!