All Forum Posts by: Stefon Bostick

Awesome advice @Matthew Olszak!  I will take that route and yes i plan on doing some heavy mailing so that sounds perfect.

Thanks guys.  @Matthew Olszak I'm looking target s specific neighborhood and flood them with marketing

Good Morning, quick question.  Can someone recommend a source to obtain address lists?  Looking to market to a larger area and need addresses.  Thanks.

Good Evening guys, i've posted this topic in a few forums looking for as much exposure as possible as i am driven to help out those who have experienced the worst. Im down here in Houston, Texas and really thinking of ways i can help homeowners who have been flooded for the first time and wanting to break away from their homes in search of a new beginning. I've gotten a couple of people who need my help but wanted to get some advice from peers. Im sure everyone is aware of the devastation down in our area and it has in turn caused several people to never want to go through that again. I've gotten addresses, ran comps, come up with my MAO, etc., and am all ready to go but have held off on pulling the trigger because im not quite sure how to handle a couple of complicated situations:

1. Both homeowners have filed claims on the damage and are expecting lump sum payments.

2. The homeowners are wanting to get out of the houses before the insurance money comes and some are under the impression that they can pocket the insurance money and give me the house. (Im not an insurance agent but im almost kinda sure that is not possible but this is why im asking).

With that said, im really needing some advice on how to handle these types of wrenches in the process. My questions here are: should i let the homeowner receive the money and get the house back to its previous "before storm" state before making my MAO? Is it even possible to make a very low MAO with the cost of flood repairs incorporated (while the owners have insurance money on the way)? Or am i missing something and these are bad deals all together?

Looking forward to hearing from the BP Family on this one. There are alot of tricky situations like this on the horizon given the circumstances.

Thanks in Advance!

Good Evening guys, im down here in Houston, Texas and really thinking of ways i can help homeowners who have been flooded for the first time and wanting to break away from their homes in search of a new beginning. I've gotten a couple of people who need my help but wanted to get some advice from peers. Im sure everyone is aware of the devastation down in our area and it has in turn caused several people to never want to go through that again. I've gotten addresses, ran comps, come up with my MAO, etc., and am all ready to go but have held off on pulling the trigger because im not quite sure how to handle a couple of complicated situations:

1. Both homeowners have filed claims on the damage and are expecting lump sum payments.

2. The homeowners are wanting to get out of the houses before the insurance money comes and some are under the impression that they can pocket the insurance money and give me the house. (Im not an insurance agent but im almost kinda sure that is not possible but this is why im asking).

With that said, im really needing some advice on how to handle these types of wrenches in the process. My questions here are: should i let the homeowner receive the money and get the house back to its previous "before storm" state before making my MAO? Is it even possible to make a very low MAO with the cost of flood repairs incorporated (while the owners have insurance money on the way)? Or am i missing something and these are bad deals all together?

Looking forward to hearing from the BP Family on this one. There are alot of tricky situations like this on the horizon given the circumstances.

Thanks in Advance!

Good Evening guys, im down here in Houston, Texas and really thinking of ways i can help homeowners who have been flooded for the first time and wanting to break away from their homes in search of a new beginning. I've gotten a couple of people who need my help but wanted to get some advice from peers. Im sure everyone is aware of the devastation down in our area and it has in turn caused several people to never want to go through that again. I've gotten addresses, ran comps, come up with my MAO, etc., and am all ready to go but have held off on pulling the trigger because im not quite sure how to handle a couple of complicated situations:

1.  Both homeowners have filed claims on the damage and are expecting lump sum payments.

2.  The homeowners are wanting to get out of the houses before the insurance money comes and some are under the impression that they can pocket the insurance money and give me the house. (Im not an insurance agent but im almost kinda sure that is not possible but this is why im asking).

With that said, im really needing some advice on how to handle these types of wrenches in the process. My questions here are: should i let the homeowner receive the money and get the house back to its previous "before storm" state before making my MAO? Is it even possible to make a very low MAO with the cost of flood repairs incorporated (while the owners have insurance money on the way)? Or am i missing something and these are bad deals all together?

Looking forward to hearing from the BP Family on this one. There are alot of tricky situations like this on the horizon given the circumstances.

Thanks in Advance!

@Harjeet Bhatti thank you.  Yes please PM me to send me the information. That would be a big help.

Good Evening Everyone,

the subject of my post pretty much sums up my question but to elaborate a little, im looking for more information on the delayed financing exemption in regards to the BRRRR strategy. Does this apply across the board in all states or do some states not honor this rule? Im in the Texas market so im really trying to understand this exemption and if its available here. Any advice helps.

All,

thanks so much for all the outpouring of advice it is GREATLY appreciated you have no idea. It definitely helps to have people lift you up with good honest advice. I agree with everyone as the underlying message im getting from everyone is to just get out there and make something happen and learn from it and move on. I think my main issue is that its overwhelming to think of steps A-Z all at once, it becomes confusing and causes mental shutdown.  I need start with A and stick to that until i master it then move to B....etc.  as @Alex J. mentioned above along with others.  @Jon Lee i'll definitely be send a PM here shortly and much appreciated.  Thanks again everyone and if you think of anything else keep it coming.  All knowledge is welcomed!

Guys, it was not my intent to cause such a heated argument but please understand that my post was not to bash New Western. As a new member of the real estate community my initial post was AT BEST a non educated stab in the dark that caused some head scratching but at the same time gave me some great insight and learning. My philosophy is to jump off a cliff and build the airplane on the way down, and with that being said i signed up with New Western with very little knowledge of real estate but since then and even since my initial post i have learned exponentially more about what i want to do and all of your posts have been great excluding the bashing. With that being said im still looking for mentors and advisors that will help me to become a successful wholesaler and that has been my intentions all along. I appreciate everyones input but please know i do not condone any bashing.  If anyone has any advice for a newbie that is hungry for success please reply but please to not use my post to bash.

Stefon