All Forum Posts by: Simon Shih

I do agree with a lot of what you said @Steve Rozenberg. I try to keep up with everything going on in Houston. It affects me since I'm inviting in Houston and I'm in the oil and gas business. I just am trying to get a decent picture of what's going on and it's easy for people to just say things based on rumor or whatever, but it's nice to have a reference. Thanks for the info. I will google him.

It's weird. I read the Houston Business Journal weekly and every article I have read says rentals and housing sales have gone down. I'd be interested in getting your links to your sources.

It's hot but slowing down. Houston is a oil and gas city and with the price of oil being so low, it's slowing down the housing market. The house sales and rentals are down compared to previous months. There will be more upcoming layoffs in the energy sector. I am in the oil field so I know this low oil price trend is not good for the future of Houston.

I just closed on my first deal. It was found though direct mail. I bought it all cash and plan on doing a BRRRR on it.

2 bed/ 1 bath
Time from first call to close: 3 weeks.

Purchase Price: 15K
Rehab Estimate: 35K
ARV: 80K
Rental: 1000 a month

Once the rehab is done, I'll refinance it and pull out the equity.

@Anthony Snyder.

If you have a house that you are planning on selling to ave money to invest, then I'm assuming you have some sort of equity in the house. Can you not refinance the house and pull out the equity to use for investing? Or try and get a HELOC?

Owner financed properties can only be done on a property that is owned free and clear. If he used hard money to purchase the property, then there is a lien on it and it cannot be owner financed.

@Hugh Ayles. Yes that's everything. I didn't include drywall since the house is getting gutted  anyway. 

If it's a good deal, then you shouldn't have a problem finding a buyer. If you have it under contract, maybe you should get a pro membership and put it on the market place here with specifics.

Welcome to BP @Tihanna Mccleese

Welcome to BP @Kat Busuioc