All Forum Posts by: Todd Knudson

 Thank you for your comments Michael, I do manage my current properties myself. However, I would probably put in place a PM for starters. Time is not an issue for me. 

 Jonathan, thank you your comments. very good points about putting a strong team together. 

I have been thinking about and researching out out of state rentals.  Currently I own 10 single family and would like to scale my portfolio. One reason is to diversify and not have all in one state. I am also open to Airbnb as a destination location. 

What are you thoughts? or experience? 

Pros and cons of out of state investing? 

Hard to find deals on the MLS these days. they are out there don't give up. also look for off markey deals.

I have found some tenants will ask for everything in the beginning to see how far they can go. Most of the items you described would be in the lease as her responsibility. Try referring her back to the section of the lease she agreed to. Sometimes I will do a couple items to show good faith on my part so we can have a good business relationship going forward. Another thought would be to inspect the property and while you are there review the lease with her and set proper expectations.

Looking for the investor. However they may need funding. one never knows

I am new to the BP family. I have been following for about a year now. Bear with me as this is my first post and may not fully be using the forum platform as designed. So, my question is…. I am a realtor in Houston I'm looking for an investor for a property I'm involved with that needs about $400k in work and ARV $1.3m. upside around $300k.

If you would like additional details, please reach out or if this is not the correct process please let me know as I’m trying to bring value to the group.

Investment Info:

Townhouse buy & hold investment.

Purchase price: $153,000
Cash invested: $30,000

This 3-bed, 2.5-bath townhome in NW Houston spans 2,000 sqft and is surrounded by shopping, top-rated restaurants, and an outstanding park. Enjoy comfortable living in a convenient location with ample space for relaxation and entertaining.

What made you interested in investing in this type of deal?

I I invest in long term rental property. This was a good deal that I wanted to add to my portfolio. Had fair cash flow and price was good.

How did you find this deal and how did you negotiate it?

Working with a client selling and after the first deal fell apart the seller asked me if I would be interested in buying. After we discussed the terms, we both agreed.
Right place right time.

How did you finance this deal?

20% down 30 yrears with a 7 year arm. 6.25%

How did you add value to the deal?

Replaced carpet up and remodeled 2 bath. $15k

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am the agent

Millie I have had very simmer experience and have used your same approach which in my opinion works great. I have also found with my friends they are looking for direction because HGTV has made flipping and or overall investing seem simple. If they want my help, I explain that flipping is critical in the buy, and they need to be ready when the opportunity arrives. With that said we need to make sure you are ready to act. I need to better understand your funding process with the lender, business plan, exit strategy etc. From this question I find out if they are either serious and ready to move forward or they are looking for me to do all the work or partner with them and use my experience for a safety net. This will also open a good dialog to educate them on investing to give them other options like buy and hold which may be a better fit. You never know, their business model may have just changed and you just picker up a new educated investor.