All Forum Posts by: Tim Shin

@Mike D'Arrigo Schlumberger just announced they are cutting 9000 jobs, Apache announced they are cutting 250 jobs, Haliburton already cut jobs when they merged with Baker-Hughes, and I think there are some other companies that have already done so that are smaller. Job loss will continue but there are plenty of companies interested in picking up talent that has just been let go.

Welcome to BP @Liz Carpenter ! This is a great site and I hope you find what you need here. Be sure to check out all the podcasts, blogs, and other resources available here. I can tell you the value of the posts written here is just as good as a $997 course. 

Check out these posts: http://www.biggerpockets.com/renewsblog/2015/01/12...

http://www.biggerpockets.com/renewsblog/2014/04/16...

http://www.biggerpockets.com/renewsblog/2013/04/09...

and I'd recommend searching for no and low money down investing using FHA/203k loans. You can easily find this information if you buy @Brandon Turner 's book which is really valuable but if you don't have the cash for that, a bit of searching around the site will lead you to how to fund this stuff. 

I wish I had found BP at 21 like you. Do your research, make sure to understand the numbers and listen to the podcasts, ask plenty of questions here, and I think you'll be able to do it.

I'm in Houston and I'm looking to build investor connections in Grand Rapids because my wife's family lives near there. Please connect with me if you're interested. 

Welcome @Benjamin Hanson! I'm pretty sure you joined the right place. I can't believe how welcoming this community is and how ready and willing more experienced investors like @Brandon Turner  and @Elizabeth Colegrove  are to discuss REI and give tips for newbies like us. I'm also in the oil and gas industry and I want to get cashflowing ASAP to be ready to weather any volatility.

@Mike D'Arrigo I think it's too soon to tell. At the very least, I think housing purchases will slow as buyers get scared by the jobs being cut by companies like Schlumberger, Haliburton, Apache, and others. It's unclear whether this low-price environment will last past another few months or if it will continue into 2016...  I wouldn't recommend buying for appreciation as an investor right now. If we do see an extended downturn, it may be an upswing for buying discounted properties for investors. 

Hi,

I'm looking for approved 203k Consultant & Contractors SWMC who will walk through multifamily homes in Houston with my realtor and I to get an idea of repair and rehab costs. Anyone know a good one?

@Marvin 

@Account Closed please send me the address, I would also like to do comps.

Thanks @Shawn Mcenteer and @Wayne Brooks ! Shawn, if you want, could you email me your sheet please? 

Do you know if the GC's will charge more because it's 203k loan than they would otherwise for an investor? I'm looking at a property that's in need of some MAJOR work and I can't tell how big the units are from the listing. But I think that maybe if they are 2/1's they can rent for 1800 in my area. Does anyone know if using the BP calculator when if you think there is $100k in repairs but those repairs are included in the 203k loan do you just add that to the purchase price and change the repairs to $0 so that they are rolled into the loan instead of OOP? 

Also, do you get a regular FHA loan AND a separate 203k loan for repairs? Is it possible they'll have differing rates? I want to do 3.5% down but I know this comes with PMI that may be at a rate of 1.35% of the loan right? So for the BP calculator should I use an interest rate of 6% if I think I can get a 4-5% interest rate?

Hi All,

I'm trying to find non-MLS multifamily homes in Houston and I want to search the eviction records. Is it possible to do this? How do you search eviction records in Houston?

I appreciate any help or suggestions!

Hi All,

I'm back to investigating my owner-occupied quad-plex plan in Houston. I really want to try buying a fourplex with a FHA/203K loan but I don't know much about it.

Are there loan limits for a 203k loan? What kind of repairs are you allowed to do? Can you basically renovate a home Property Brothers style with that loan? How long does it usually take to do that kind of renovation with 203k loan approved contractors? I'd like to start living in one next January so I'm wondering what kind of lead time I should give myself.

Speaking of approved 203k loan contractors, do you seek out an approved general contractor? Or do you have to manage several types of individual contractors like plumbing, tiling, painters, etc?

I know that typically contractors that work with investors charge less than to retail rehabbers... do 203k loan approved contractors charge more because they think you are a retail customer? Or is it still possible to find a good but less expensive contractor who gives you an investor bid because they know you'll be back? 

@Brandon Turner 

 Do/Did you ever go visit MFH's with a contractor to figure out repair costs?

Thanks!

817 w 31st Houston, Texas 77018

Hey guys, I need your help to sell this deal as fast as I can.

This 3/1.5 tear-down investor/builder special on a HUGE 0.38 acre lot in the super hot Garden Oaks neighborhood is available for just $450,000 (negotiable). ARV $1 Million after new construction build of 4/4 home like similar Garden Oaks home OR split the lot in two and still have two bigger lots than surrounding homes and build TWO $850k+ homes! Or build town-homes on it! This home must go as fast as possible, seller needs to move. Buyer must do all due diligence. Non-refundable escroe fee.

Please message me if you're interested or visit the property website: www.bsgproperties.com

817 w 31st Houston, Texas 77018

This 3/1 tear-down investor/builder special on a HUGE 0.83 acre lot in the super hot Garden Oaks neighborhood is available for just $450,000. ARV $1 Million after new construction build of 4/4 home like similar Garden Oaks home OR split the lot in two and still have two bigger lots than surrounding homes and build TWO $850k+ homes! This home must go as fast as possible, seller needs to move. Buyer must do all due diligence. Non-refundable escroe fee.

Give me a call if you would like to see the property or go to this website: www.bsgproperties.com

Timothy Shin

[email protected]
p.832-559-0903
m.832-559-0903
http://www.BluebonnetEstateSolutionsTX.com/