All Forum Posts by: Simon Shih

Hey @Joshua Dorkin. You might want to field the check question and throw in a reason to be a Pro member too.

They changed the rules in Texas in 2016. You can't be logged into the course of more than 12 hours a day. 

It's actually a 2/1, right off of Center Street. It is zoned for Deer Park. I found it through a direct mail campaign I did. It was one of two calls I got. So I'm at 50% close rate lol.

It's a full gut and remodel and I'll have to have HVAC and duct work installed. Can't be in Houston and not have central air. Used J Scott's rehab book for my numbers and had some contractors verify my numbers. I'm just waiting on getting back home from offshore to get the house rehabbed. My holding costs are less than 100 a month right now since I paid all cash.

My plan is to rehab, then rent it out, then refinance it and pull my money out and do it all over again.

If the property is off market, then how do 10 investors know about it and make offers also? Off market means you found it through a friend, or through a direct mail campaign or cold call. If the house is on the MLS or you are finding it through an agent, then it's not off market.

Before you form an LLC @Paula Rodriguez, listen to podcast 109.

Go to a bank and find out what you qualify for as far as a conventional FHA loan. You'll only have to come up with a 3.5% down payment and you can use that to buy a duplex or four-plex to house hack. You'll have to live in it for a year.

I am in Houston and I have completed my real estate course, online. (I work overseas and offshore so I'm limited in how I can take my courses). I figure having a license is better than not having one. I can put in my own offers and I can access the MLS to pull comps. All I have to do is take my test and I'm licensed. I even have a broker willing to let me hang my license with her firm.

Allied Schools Online.

Find a deal and analyze it. Then post your analysis on BP and have people give you their thoughts. People do it all the time.

If that is your best offer and they don't take it then move on. No point in making a deal out of a non deal and losing money.

Go to a local bank. They have their own criteria they go by and aren't limited by the big bank criteria. They will work with you more than the big banks.