All Forum Posts by: Tim Shin

Hi Ben, actually we talked and I ended up working with Donny Gothard at Security National Mortgage Company and have been pretty happy with their 7 points 2% temp to perm program thus far, aside from hiccups along the way with processing from RedDoor who does the temp through them.

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hey all please bring your best offers!

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Originally posted by @Juan Cristales:

Hey Dustin!

BP is an awesome place to bounce ideas off other investors.

Regardless of the strategy you decide to take action on, taking action will be the key component. Since you are posting, I congratulate you on taking action. Aside from what the market is doing (which is a very important piece), I believe that simply understanding the mechanics of your goals will yield you better results. Here is why I say that: I'm wholesaling and decided a while back to change my strategy and am still doing deals because I'm focusing on relationships. Wholesaling can be cost-prohibitive and can feel like you are spinning your wheels when you are doing direct-mail marketing and getting lots of calls from people looking for retail. How do I know? I scaled from 1K pieces to just over 11K pieces of mail monthly in the Harris and Montgomery counties. In order to get to that, you need systems in place. Give me a call sometime if you wanna chat.

@Tim Shin, buy a house from me bro! Donny Gothard is the man and he has earned every bit of that great reputation. He will not lead you astray my friend.

All great points, Juan. Keep sending me stuff like you do. I liked the look of that last house and you know I'll be using Donny on the 7 and 1. I'm open to getting also Pasadena houses if I can get it where I'm net 0 out of pocket on the 7-1. Spring, Magnolia too. You know my thing about the Elementaries.

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Hi Dustin, I invest in zip codes nearby but live inside 610 loop and work 50-60 hrs/wk like you. Based on my last 2 years doing wholesale to build cash to buy rentals it is not my preferred method and I don't recommend it if you don't need it to build cash in Houston without putting in tons of work and hours. That being said, cash buyers are currently buying 90% of ARV - repairs in many cases and sellers have been seeing pretty high prices in the last year so it's hard to get a good deal on both wholesale and wholesale buyer if you're trying to use no money down BRRRR. I'd recommend talking to Donny Gothard at Security National Mortgage for their temp to perm financing program. We used them on our rental purchase and the rates and costs are pretty good. Ultimately the easiest route is to buy cash or 20% rent ready on MLS, not necessarily from a flipper because as you said inventory is high in your zip. fewer headaches and easy to get.

I will be out of pocket for a while now besides any forum stuff because of a family emergency - I'm sitting here in an ICU with nothing to do - but otherwise I'd be happy to help. Good luck.

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@Michael Rivera, it will depend on what the terms of your current loan are. Is there an early pre-payment penalty? Also what will your future bank (or current bank) let you do when you refinance? Listen to the latest podcast, there you'll see that the guest shopped around until he had a bank refinance what he wanted!

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Calling all landlords! We're selling a great Pasadena SFR with cash cow rental potential!

This is a spacious brick 3/2/2 at 217 Hummingbird Ct, Pasadena, TX 77502 with new central A/C.

Asking $115k, $2500 non-refundable deposit to lock it up!
Repair Cost Estimate: $12-$16k
Potential rents up to $1450/month.

You could even get more with an easy conversion to a 4 bedroom by closing in the living room closet and opening it up on the other side! Add value hidden with BRRRR! Great schools Elementary is a 6!

Buyer's please do your own due diligence. No tours without a Bluebonnet Solutions Group, Inc. representative present.

Let me know if you're interested or call Michael Boyd at 713-206-1608!

Click Here for More Photos

Cheers,

Tim

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This property is no longer available!

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Corbett I'm interested, PM me. If you work for either of NW, I've already got several agents trying to sell me on those.

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Originally posted by @Brandon Turner:

Hey folks -

So, I'm trying to sell one of my properties. I discovered about a year ago that the neighbor house has an easement (from 1966!) through the side-yard of the house. I recently built a deck there - and now the neighbors with the easement are demanding I remove the deck.

A couple facts:

The easement is no longer necessary (there is now an alley to the person's house - so no need for the easement.)
The neighbors are absolutely crazy and on a power trip - the only reason they care is because they like drama. They do not use the easement - ever. They are just nuts people who most of the other neighbors have had problems with.

So my question is two-fold:

Anybody successfully get an easement removed? My attorney says "it's almost impossible."
The deck is movable. It's heavy, but it can be lifted off the ground if they did, for some reason, want to drive through. We built it that way because of the easement. But now the neighbor wants it gone PERIOD. So- my question... do I need to move it? Like, they can't tell me not to have a moveable deck, can they? I told the tenant that I would be happy to move it temporarily if they needed to drive through - but they are on a power trip and said that wasn't good enough.

Help!

Thanks :)

Brandon

Brandon, can you just shorten the deck and call it a day?

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Originally posted by @Delia Spradley:

what is the current rent and when does the lease contract expire?

Hi Delia,

It is currently owner occupied, there is no lease.

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All Forum Posts by: Tim Shin

Tim Shin has started 22 posts and replied 239 times.

Post: Refinancing out of hard money with a conventional mortgage loan

Post: Selling a Great Pasadena 77502 with Cash Cow Rental Potential!

Post: Using Wholesaling & Other Strategties in Real Estate Investing

Post: Using Wholesaling & Other Strategties in Real Estate Investing

Post: BRRR

Post: Selling a Great Pasadena 77502 with Cash Cow Rental Potential!

Post: Houston Klein-Northcliffe Turn-key Ready Cash Cow, Mint Condition

Post: Wholesaler in Southeast Houston! New Investors Welcome!

Post: Nasty neighbors and easements... HELP!

Post: Houston Klein-Northcliffe Turn-key Ready Cash Cow, Mint Condition