All Forum Posts by: Taj Akinbode

@Account Closed

Hats off on staying true to your conviction. Since you are unable to use leverage due to religious reasons, it is important to find an investment strategy that can provide a good rental return with all-cash purchases. One way to do this is through buy and hold investing since you didn't share if you are interested in flipping or going that route, Buy and hold is your classic investing strategy that involves purchasing properties and holding onto them for an extended period of time to generate rental income and benefit from property appreciation overtime.

As an Investor-friendly agent here in the Greater Houston market, I know that Houston and its surrounding cities are great destinations for buy and hold investing because of growing economy, diverse population, and expanding job market. With the higher property value in California as you've described, it may not be an attractive choice for people with your budget as other states such as Texas where that budget can go much farther. In Houston, you can purchase two single-family homes for around $250k each, which can provide solid rental returns. 

Overall, it is important to research and carefully consider your investment options before making any decisions. Learn as much as you can on this forum and do not go pay $25K for a magic mentorship program. I have come across people that have spent so much on coaching classes that they would have had 1 or 2 investment properties under their belt had they used that money for down payment. 

Happy to connect with you to talk more about the Greater Houston market if you would like to get more details. 

Happy investing! 

@Travis Whitfield

Which area are you looking currently? It may be worth considering other areas that have lower purchase prices and stronger rent-to-price ratios.

It's great that you have already started researching and running the numbers on your current home. Your strategy of renting out your current home while enjoying the historic low interest rate is a solid one.

However, finding properties that cash flow in today's market can be a challenge giving the high interest rate. This problem will lessen as rates further stabilize. 

In addition to expanding your search, it's also important to have a good understanding of the financing options available to you. Working with a knowledgeable lender can help you explore creative financing options that may work for your unique situation.

Happy to connect and share more insight with you.

Houston is a lucrative opportunity for investors. With a strong and stable economy, growing population, diverse industries, and world-class amenities, Houston's real estate profile offers a range of options with various price points to suit different investment strategies. The city and surrounding areas' robust job market, relatively low cost of living, and pro-business climate make it an attractive destination for in-state an out of state investors. There is a high demand for housing as well as sustained appreciation in property values over time in many areas of the city. The key is finding the right property. 

Happy to connect with you Courtney so I can learn more about you, your investment plans and the strategies you are looking to pursue in the Houston area. 

Hi there Lisa,

Glad you've been learning here on the Bigger Pocket for quite a while and that you're ready to take action on your real estate goal! I am Taj Akinbode, an investor-friendly real estate agent serving Houston and the surrounding area. I understand that finding the right buyer's agent for your specific needs can be challenging, and I would love to offer my expertise in this area.

As someone who has extensive access to MLS and off-market properties, as well as established relationships with real estate professionals, I have the resources to assist you in your search for the perfect empty lot for new build construction in the Sunnyside area of Houston.

I would love to connect with you and discuss your real estate goals in more detail. Lets schedule a free consultation session to answer any questions you may have and get to know each other better.

Also, please feel free to connect with me here on Bigger Pocket or via this link https://linqapp.com/tajakinbode?r=link to save my contact information. 

I look forward to connecting with you and helping you achieve your real estate goals.

@Wilson Manigat

This headache you ran into could have been avoided even before you started the project. As an investor-friendly agent in the Houston area with knowledge of the local market, there are only a handful of locations in Houston where you can command over $2500 monthly rent for a rehab property and that property has to meet certain criteria. There is too much competition and too many option available to renters to fork over that much money when they could get something better somewhere else. As many other contributors have suggested. You already have your solution which is to sell the property, mitigate your risk and move on. @Marco Briceno was right on point, please take his advise in terms of buying right. Numbers is king in this business as @Stephanie P. has stated. Did you do the numbers yourself or you have another real estate investor you trust or an investor-friendly agent like myself look over the number before you purchase? Sometimes having a second eye look at the numbers can save you a lot of headache down the road. As an investor-friendly agent, this is something I am happy to do for my clients and even after that, I still encourage them to have a different set of eyes look it over.  Another advise I would like to share with you on your future flips is to make sure you estimate your repair cost as accurately as possible, shop around for reputable contractors and do everything possible to stick the budget.

I am an investor-friendly agent here in the Houston area. Feel free to schedule a time with me via the link in my signature if you'd like to connect and further discuss ways to sell the property quickly and mitigate your loss. Glad you're not giving up on the Houston market. I'll be happy to discuss your future investing plans for the Houston market and how we can work together to make it a better and more profitable experience for you!

Hi Jacob,

I'm sorry to hear that your current home isn't getting the traction you had hoped for on the market. With 65% equity and a low interest rate of 2.3%, it's understandable that you're considering both selling and renting options. The equity you have in your home and the favorable interest rate on your loan are both huge advantages.

Here are three ideas to potentially help you make a decision:

1. Look into the real estate market trends in the subdivision and immediate area where your property is located in Houston, including average days on market and rental rate vs. sales prices of comparable. This can help you determine if renting is a viable option and if it's worth it to wait for a sale. I can help you pull this data
2. Consider hiring a professional Realtor like myself to help you market your property, get more eyes on it and find potential buyers. A good Realtor can help you maximize the exposure of your home and negotiate a great deal.
3. Really reassess your personal financial goals and timeline. Are you looking to sell quickly and move on, or do you have the ability to wait for a better sale price or hold onto the property as a rental?

If you'd like to explore these ideas in more detail and better narrow down to a few good solutions for your situation, please feel free to schedule a time with me via the link in my signature. I'm here to help and would love to connect with you.

Hi Jacob, 

 I'm sorry to hear that your current home isn't getting the traction you had hoped for on the market. With 65% equity and a low interest rate of 2.3%, it's understandable that you're considering both selling and renting options. The equity you have in your home and the favorable interest rate on your loan are both huge advantages. 

Here are three ideas to potentially help you make a decision:

1. Look into the real estate market trends in the subdivision and immediate area where your property is located in Houston, including average days on market and rental rate vs. sales prices of comparable. This can help you determine if renting is a viable option and if it's worth it to wait for a sale. I can help you pull this data
2. Consider hiring a professional Realtor like myself to help you market your property, get more eyes on it and find potential buyers. A good Realtor can help you maximize the exposure of your home and negotiate a great deal.
3. Really reassess your personal financial goals and timeline. Are you looking to sell quickly and move on, or do you have the ability to wait for a better sale price or hold onto the property as a rental?

If you'd like to explore these ideas in more detail and better narrow down to a few good solutions for your situation, please feel free to schedule a time with me via the link in my signature. I'm here to help and would love to connect with you.

If you are looking to capitalize on the growth of the healthcare industry in Houston and the explosion of travel nurses as well as capture the lucrative income potential that can be generated from medium term medical patients from across the world, medical field students in residence etc, Look no further than the Texas Medical Center, a bustling 2.1-square-mile residential and medical district located in the heart of the city. With over $5 billion in healthcare-related projects underway and projections of healthcare jobs to double in the next decade, the Texas Medical Center is the perfect place to make a smart investment.

Not only is the medical center the world’s largest medical complex, with over 60 institutions, 106,000 employees, and 10 million patients each year, it is also surrounded by some of Houston’s most desirable neighborhoods and suburbs, offering a great location with top schools and easy access to and from the district.

If you're interested in building in the communities surrounding this thriving area, I'd love to connect with you and provide more information. I can also share with you other areas of Houston with huge potential. Feel free to use the link in my signature below to schedule a time on my calendar. I'd love to connect and provide value.

Stephanie, 

I completely understand your frustration with the 3 new builds not moving as fast as the others. It's always disheartening to see a property not selling as quickly as expected. I took a look at the properties on MLS, and I have to say, they are absolutely stunning! The wood flooring and open concept design truly make them stand out.

As an investor-friendly agent here in the Houston area, I know that there is definitely a high demand for STRs in the Galveston area, which is great news for you. Have you considered looking into alternative marketing strategies with your real estate agent to help move these properties faster? Sometimes exploring different channels can make a big difference in attracting potential buyers.

I would love to discuss this further and explore any potential opportunities that may exist. I'd be happy to provide value to you in any way I can. Let's make these properties sell quickly and for the right price. Please feel free to schedule a time on my calendar using the link in my signature below.

1. @Ann Mclean
   
   
2. Here are some advise I would like to share with you. 
3. (1) Document Preparation: As a first-time landlord, it's important to have all the necessary documents in order. In addition to a lease and tenant screening, you'll also want to have a clear and concise rental application, move-in and move-out checklists, and potentially a security deposit receipt.
4. (2) Maintenance and Repairs: Consider setting up a system for maintaining the property and handling repairs. This could include having a list of trusted contractors, setting up a budget for regular property maintenance, and having a plan in place for emergency repairs.
5. (3) Rent Collection and Tracking: It's important to have a system in place for collecting rent and tracking all rental income and expenses. This will make tax time much easier and will help you stay organized throughout the year.

For tenant screening, I recommend using a professional service such as TransUnion SmartMove (www.transunion.com/rental-screening).

As for a good insurance agent in the Houston area who understands real estate, I suggest visiting the National Association of Insurance Commissioners (www.naic.org) website or the Independent Insurance Agents & Brokers of America (www.iiaba.net) website for more information and to find an accredited agent in good standing. 

Regarding software/apps. I would suggest doing some research and reading reviews from other landlords who have used the software, including Rent Redi to determine if it's a good fit for your needs.

Of course! As an investor-friendly real estate agent serving the Houston and surrounding area, I'd love to connect with you and explore additional ideas to help you succeed as a landlord. In addition to the info I provided above, I'd be happy to discuss any other questions or concerns you have and provide additional support and resources as needed. I have years of experience in the real estate industry, even before getting licensed in Texas and have helped many landlords just like you navigate the process of becoming a successful landlord.

If you're interested in learning more and taking the next step, I invite you to book a time on my calendar using the link in my bio. We can chat about your specific situation, goals, and any challenges you're facing. I look forward to connecting with you soon!