All Forum Posts by: THU NGUYEN

@Tony Castronovo

Tony, if you have any good contractor with reasonable price, please share.  I am looking for one as well.  I do have good contact for HVAC if you need some names.  Asian HVAC guys are $500-$1000 cheaper sometimes for 3 - 5 tons brand new ACs.

On the subject of GC, can you guys help with communication so that I don't upset the people that I did not select to work on the projects?  I called 3 out to give me quote on a small project ($4K), how do I turn down the other 3 politely so that I can call them for bids again next time?  I haven't worked with any of them before so I am basically taking a chance on any of them.  I don't want to burn any bridges, would like to built relationships long term with GC but then again, you can only use 1 for any given project.  

Appreciate your input/suggestion?

I wouldn't want to buy this at property at $122K...b/c $122+15 = $137K, more than ARV. I can buy another property without repair for that price or less. Why would I pay more to buy and spend time, money to fix it up?

I'm thinking of Subject To, just take over the mortgage so that I don't have to put down payment, no credit, no loan on my part...just put $15K to fix it up and rent it out.  I can pocket $400 CF a month.  

Thank you!

@ David Dey, can you elaborate on " A lease option, and agreement for deed, a sandwich lease or a land trust deed subject to the mtg"?  I do want this deal as rental.  

I would offer 3% commission to the seller agent if the number make sense and have some meat in the bone...:)

Hello BP members,

I'm looking for advice of a possible deal that I am currently talking with an agent and not sure how I can do traditional buy/sell  but I know there are alot of creative ways the experienced investors can suggest and help me out:  Here is some details I have 

ARV: $135K

Current Mortgage: $112K, 4.875%

Repair: $15K 

Do not owe anything on back tax, or any other lien. Owe HOA $400.

Seller does not have money for the repair and bring the house to date to get ARV of $135K. The house is currently listed with on the mls for $122K as is. That means additional 6% commission, paying title policy and closing cost. At full price offer of $122K (which is unlikely, DOM is already 76), I think seller is walking away with zero or close to zero.

What can I offer to create win-win for both me, seller and listing agent?  I can rent the house out for $1300 if I put in $15K to fix it up. "Subject to" would work?  I need to be able to give the seller some cash, same with listing agent if I want to do this deal.  

Thank you in advance for your suggestion.

Thank you for the info.  I'm contemplating the same.  My cf would be $350 to $400 a month after Piti for the duplex but still... Headache is not what I want to deal with.  Also anybody know how to check if a house or duplex had been flooded before? 

Thank you William Hochstedler.  I

Hi Michael Nguyen, I am currently looking for insurance for a duplex that I am finalizing a contact with seller. Do you provide insurance for SFH and small MFH? If yes, I'll email you tomorrow.

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You mentioned that I can easily get rental at 80% value...can you please let me know how and where?  Besides the New Western Acquisitions, what other companies in Houston that constantly have regular deals/projects?  Some deals at NWA are gone so fast, as soon as they send out an email, within 12 hrs they already it contracted.  With working full time, I was not able to view/make decision within a few hrs. 

Matt, it helps a lot.  Thank you much for the advice.  BP members are great.  I am learning everyday!